Amazon Rises, Cava Group Plunges, Capri Holdings Jumps on JPMorgan Rating
On this episode of Stock Movers:
- Amazon (AMZN) shares rise. The company is now offering same-day grocery delivery in more than 1,000 cities and plans to bring the service to over 2,300 more by the end of the year, marking a major expansion as demand for food deliveries has remained resilient.
- Cava Group (CAVA) shares plunge after the company trimmed its annual sales guidance, citing slower quarterly sales growth. The company now forecasts sales at established locations to expand at most 6% this year, down from a previous forecast of as much as 8%.
- Capri Holdings (CPRI) rises as JPMorgan raised the Michael Kors owner to overweight from neutral, saying fewer markdowns and tariff mitigation measures are set to boost earnings.
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