Shake Shack reported a surprise quarterly profit and better-than-expected revenue, and raised their full year outlook. Stocks closed mostly lower. Bobbi Rebell reports.
Shake Shack shares got fired up after hours. The burger chain's revenue jumped 56 percent as health conscious customers ate up their hormone and antibiotic-free burgers. Revenues were up five percent at Cisco, a bit better than estimates, helped by demand for its switching equipment and routers. During the regular trading day, the major Wall Street indexes gave up early gains to close mostly lower. Last month's flat retail sales had investors betting that the Fed would not hike rates before September. LIM College dean Michael Londrigan says consumers are staying home: SOUNDBITE: MICHAEL LONDRIGAN, DEAN OF ACADEMIC AFFAIRS, LIM COLLEGE (ENGLISH) SAYING: "Any money that they're saving, in terms of gas prices and other areas in their personal lives, they're going towards debt, and they're going towards savings. There's nothing exciting in retail trade today to drive the consumer into the store or out into the market to buy anything new." Macy's weak results echoed those retail data. The West Coast port strike, strong dollar and bad weather pushed down profit and sales. Its stock fell. Delta Air Lines stock caught a tailwind after the carrier announced it would buy back shares and boost its dividend. Also rising: shares of Danaher and its new purchase, Pall. The industrial conglomerate is buying the water-filter maker for nearly $14 billion. Stocks were mixed in Europe. First quarter data showing that France grew at its fastest rate in two years.