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Cava shows a profit in first earnings report since IPO
Mediterranean fast-casual chain Cava (CAVA) reported a profit in its first earnings report release since the company’s IPO in June. Same-store sales soared 18.2% from the year prior. The company anticipates significant sales growth throughout the rest of the year, but it remains cautious due to concerns about the consumer. Yahoo Finance Reporter Brooke DiPalma breaks down the story.
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U.S. SEC says will continue to carefully review China IPO prospectuses
WASHINGTON (Reuters) -The U.S. securities regulator will continue to carefully review issuer filings, it said on Wednesday in response to a Reuters report that Chinese offshore issuers are toning down China-related business risks in their listing documents. “Any issuer who chooses to access the U.S. capital markets must comply with our federal securities laws and regulations,” a Securities and Exchange Commission (SEC) spokesperson said in a statement to Reuters on Wednesday. China’s securities regulator last month asked domestic law firms to refrain from including negative descriptions of China’s policies or its business and legal environment in initial public offering prospectuses, Reuters previously reported.
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Chinese duties on U.S. imports ‘inconsistent’ with WTO obligations
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The Telegraph
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Billionaire Ken Griffin Pours Millions Into These 2 ‘Strong Buy’ Stocks — Here’s Why You Might Want to Ride His Coattails
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