Chipotle, Starbucks and Domino's stocks hit all-time highs as investors shrug off delta variant

6 days ago
ARTICLE AD

Chipotle edifice successful New York City

Scott Mlyn | CNBC

Domino's Pizza, Chipotle Mexican Grill and Starbucks deed all-time highs connected Thursday arsenic investors shrugged disconnected immoderate concerns astir the delta Covid variant.

On Monday, stocks fell sharply implicit concerns astir a resurgence of Covid cases tied to the variant. The S&P 500 tumbled 2.1%, and pandemic losers similar hose and edifice stocks bore the brunt of the losses. Shares of Starbucks and Domino's besides dipped.

The U.S. reported much than 52,000 caller Covid cases connected Wednesday, according to Johns Hopkins University. But fears tied to the resurgence of infections took a backseat for edifice stocks.

Shares of Domino's climbed much than 12% successful greeting trading aft the company's second-quarter net and gross topped Wall Street's estimates. Despite concerns astir pizza fatigue and pugnacious comparisons to past year's skyrocketing sales, the institution reported U.S. same-store income maturation of much than 3%.

Domino's banal has risen 38% year-to-date, bringing its marketplace worth to $20.6 billion. Thursday's banal determination acceptable a grounds precocious of $532.94 a stock for the pizza chain.

Chipotle shares were up much than 1%, falling somewhat aft mounting a caller precocious of $1,806.66 per share. The burrito concatenation shared its ain second-quarter results connected Tuesday afternoon, beating analysts' expectations. The banal has climbed 28% this year, giving the institution a marketplace worth of $50 billion.

Starbucks' banal roseate 2% successful greeting trading, creating an all-time precocious of $121.93 per share. The java concatenation is expected to study the results of its latest 4th aft the doorbell connected Tuesday. Its banal has risen 13% this year, bringing its marketplace worth to $143 billion.