Stock Market Update
12-Aug-26 12:35 ET
Fast casual stocks rise after CAVA's earnings
Dow +39.96
at 53831.81,
Nasdaq +127.04
at 26593.51,
S&P +18.10
at 7746.30
[BRIEFING.COM] The S&P 500 (+0.3%), Nasdaq Composite (+0.5%), and DJIA (+0.1%) are maintaining their modest gains just after midday.
CAVA Group (CAVA 68.43, +7.62, +12.53%) is surging today after reporting a better-than-feared Q2 report last night. The fast-casual Mediterranean chain beat EPS expectations, while revenue jumped 31.3% year-over-year to $368.4 million, also above expectations. CAVA also reaffirmed its FY26 guidance across key metrics and offered encouraging commentary around recent comp trends and consumer strength, helping ease concerns around a July slowdown tied to broader food-safety fears.
The positive results have been received well by similar fast-casual dining stocks, including Chipotle Mexican Grill (CMG 32.66, +0.66, +2.05%), which has plunged in recent weeks due to a Salmonella outbreak that prompted a jalapeño recall.
