On this episode of Stock Movers:
- 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%.
- On Holding (ONON) shares drop after Jefferies downgraded the Swiss sneaker maker and set a new Street-low price target, with analysts arguing sales growth is peaking and that valuation multiples will compress as growth slows. - CoreWeave (CRWV) shares fall after the cloud-computing provider reports a net loss for its second quarter that was wider than expected. Analysts are positive about the company’s revenue but note that it might have failed to live up to high investor expectations.