Domino’s Pizza, Inc. (DPZ) released its latest quarterly earnings on Monday, April 28. The restaurant chain reported quarterly revenue that missed expectations, causing its stock to fall by 2% following the release of the report.

Revenue came in at $1.11 billion during the first quarter, missing analysts’ expectations of $1.13 billion. First quarter revenue was up 2.5% from revenue of $1.08 billion reported during the same quarter last year.

“Domino’s Q1 results demonstrate that our Hungry for MORE strategy continues to drive market share growth in QSR Pizza across both our US and international businesses,” said Domino’s CEO, Russell Weiner. “Sustained market share growth reflects a company’s ability to control what is under its control, a key to long term success. In the face of a challenging global macroeconomic environment, our Hungry for MORE strategic pillars are working together to drive MORE sales, MORE stores and MORE profits, annually. This is how we will deliver long term value for our franchisees and shareholders.”

Domino’s reported net income of $149.65 million or $4.33 per adjusted share. This was up from $125.82 million in net income or $3.58 per adjusted share last year at this time.

The pizza company reported an increase in retail sales across its global operations with 1.3% growth in U.S. stores and 8.2% growth in its international stores. The company’s domestic same store sales decreased by 0.5%, domestic company-owned store sales declined 2.9% and domestic franchise store sales also fell by 0.4% for the quarter. Internationally, same store sales increased by 3.7% from the year prior. The company ended the first quarter with 21,358 stores in total, following 223 gross store openings and 231 gross store closures during the period.

Domino’s Pizza, Inc. (DPZ) shares ended the week at $484.61, up 2% for the week.

Coca-Cola Reports Earnings

Coca-Cola Company (KO) released its first quarter earnings report on Tuesday, April 29. Despite the soft drink company reporting decreased revenue for the quarter, the company’s shares rose more than 6% following the release of the report.

Coca-Cola posted net revenue of $11.13 billion and, after excluding items impacting comparability, reported adjusted first quarter revenue of $11.22 billion. This was down 2% from $11.30 billion in revenue reported at the same time last year but above Wall Street’s expectation of $11.14 billion.

“Our performance this quarter once again demonstrates the effectiveness of our all-weather strategy,” said Coca-Cola CEO, James Quincey. “Despite some pressure in key developed markets, the power of our global footprint allowed us to successfully navigate a complex external environment. By remaining true to our purpose and staying close to the consumer, we are confident in our ability to create enduring long-term value.”

Coca-Cola reported net income of $3.33 billion or $0.77 per adjusted share for the quarter. This was up 5% from $3.18 billion or $0.74 per adjusted share in the same quarter last year.

The iconic Atlanta-based beverage company reported growth of 2% in its consolidated unit case volume for the first quarter attributable to growth in developing and emerging markets in India, China and Brazil. The performance of the sparkling soft drinks segment, which includes the company’s Trademark Coca-Cola segment, rose by 2% for the quarter. The company’s water, sports, coffee and tea segment increased by 2%. The Coca-Cola Zero Sugar segment grew by 14% for the quarter. For fiscal 2025, the company expects to deliver organic revenue growth of 5% to 6%.

Coca-Cola Company (KO) shares closed at $71.65, remaining relatively unchanged for the week.

Starbucks Brews Earnings

Starbucks Corporation (SBUX) reported its second quarter financial results on Tuesday, April 29. The coffeehouse chain missed revenue expectations for the quarter, resulting in shares dropping by over 1% following the release of the report.

The company reported second quarter net revenue of $8.76 billion, up 2.3% from $8.56 billion reported in the same quarter last year. This fell below analysts’ expected revenue of $8.82 billion.

“My optimism has turned into confidence that our 'Back to Starbucks' plan is the right strategy to turn the business around and to unlock opportunities ahead,” commented Starbucks CEO, Brian Niccol. “Improving transaction comp in a tough consumer environment at our scale is a testament to the power of our brand and partners getting 'Back to Starbucks.' We are on track and if anything, I see more opportunity than I imagined.”

Starbucks’ net income for the quarter dropped to $384.2 million or $0.34 per adjusted share. This was down significantly from $772.4 million or $0.68 per adjusted share in the same quarter last year.

Starbucks opened 213 net new stores in the second quarter and ended the period with 40,789 stores in total. Comparable sales in North America declined by 1%, primarily attributed to a decrease in comparable transactions and partially offset by increases in average ticket prices. International comparable sales increased by 2%, which was attributed to an increase in comparable transactions. The company declared a quarterly cash dividend of $0.61 per share. The cash dividend will be due to the stockholders of record on May 16, 2025, with an anticipated payment date of May 30, 2025.

Starbucks Corporation (SBUX) shares ended the week at $84.69, up 1% for the week.

The Dow started the week at 40,172 and closed at 41,317 on 5/2. The S&P 500 started the week at 5,529 and closed at 5,687. The NASDAQ started the week at 17,391 and closed at 17,978.

U.S. Treasury yields moved lower earlier in the week as investors analyzed new economic data indicating the U.S. economy contracted for the first time in three years. Yields trended higher at the end of the week as the latest employment data showed a surge in unemployment claims.

On Tuesday, the U.S. Commerce Department’s Bureau of Economic Analysis (BEA) announced that the revised estimate for Gross Domestic Product (GDP), a monetary measure of the market value of all goods and services produced in a specific time period, decreased at a 0.3% annualized rate in the first quarter of 2025. This was far below economists’ expectations of a 0.4% annualized gain and lower than the 2.4% growth achieved in the fourth quarter of 2024.

“The drop seems to be wholly due to tariff-related distortions,” wrote economists at Pantheon Macroeconomics. “GDP likely would have risen in the absence of the dramatic shift in policy. Underlying momentum in growth was undoubtedly waning before the tariff shock, though, and in its aftermath we now expect activity to stagnate this year.”

The benchmark 10-year Treasury note yield opened the week of April 28 at 4.24% and traded as high as 4.25% on Thursday. The 30-year Treasury bond opened the week at 4.71% and traded as high as 4.75% on Thursday.

On Thursday, the U.S. Department of Labor reported that initial claims for unemployment increased by 18,000 to 241,000 for the week ending April 26. This significantly exceeded economists’ expectations of 225,000. Continuing claims rose by 83,000 to 1.92 million.

"Unease is the word of the day," said ADP chief economist, Nela Richardson. "Employers are trying to reconcile policy and consumer uncertainty with a run of mostly positive economic data. It can be difficult to make hiring decisions in such an environment."

The 10-year Treasury note yield finished the week of April 28 at 4.31% while the 30-year Treasury note yield finished the week at 4.79%.

Freddie Mac released its latest Primary Mortgage Market Survey on Thursday, May 1. According to the survey, mortgage rates for 30-year and 15-year loans declined for the second consecutive week.

This week, the 30-year fixed mortgage rate averaged 6.76%, a decrease from last week’s average of 6.81%. Last year at this time, the 30-year fixed mortgage rate averaged 7.22%.

The 15-year fixed mortgage rate averaged 5.92% this week, down from last week’s average of 5.94%. During the same week last year, the 15-year fixed mortgage rate averaged 6.47%.

“Mortgage rates again declined this week,” said chief economist at Freddie Mac, Sam Khater. “In recent weeks, rates for the 30-year fixed-rate mortgage have fallen even lower than the first quarter average of 6.83%.”

Based on published national averages, the savings rate was 0.41% as of 4/21. The one-year CD averaged 1.77%.

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