[music] Hello and welcome to Market Domination. I'm Josh Lipton live from our New [music] York headquarters. It's just an hour ago now till the closing bell and stocks are lower as Nvidia's earnings failed to impress Wall Street and via [music] shares.They're sinking despite beating all expectations. Stock is dragging all the other chip names right down with it. Let's get into what Wall Street is saying about the market.Our very own Enz Frey is here with me at the desk with this week's investor playbook. En ...

Luis Alvarez/DigitalVision via Getty Images Listen below or on the go on Apple Podcasts and Spotify Investors rotate from AI to A1 as breadth increases. (0:16) Krispy Kreme and Shake Shack surge on earnings. (1:13) S&P 500 triggers sixth Hindenburg Omen signal. (3:26) This is an abridged transcript of the podcast: Our top story so far, investors are going from AI to A1. Looking at forward valuations, the premium investors were paying for the mega caps has faded — and they’re now willing to pay up for ...

Core Insights - Krispy Kreme and OREO are expanding their partnership with a new limited-time doughnut collection that combines OREO cookies and Krispy Kreme doughnuts [1] Product Launch - The new Krispy Kreme x OREO Cookie Collection will be available starting February 24 at participating Krispy Kreme locations across the U.S. [1] - The collection features two new doughnuts along with a fan-favorite, the NEW Golden ORE [1]

Group 1: Coffee Consumption Trends - Approximately two-thirds of U.S. adults drink coffee daily, making it one of the most habitual consumer purchases in the country [2] - Coffee-based cafes thrive because coffee is a daily habit for many consumers, unlike discretionary items such as cookies [1][2] Group 2: Challenges in the Dessert-Based Restaurant Sector - Specialized restaurant chains, particularly those focused on a single product like cookies, face significant challenges in a tough economic environment [3] - The cookie segment has seen notable failures, with Crumbl Cookies closing dozens of stores and Taylor Chip filing for Chapter 11 bankruptcy [4][5] Group 3: Financial Struggles of Cookie Brands - Crumbs Bake Shop and Liz Lovely are examples of dessert-based brands that have filed for bankruptcy, highlighting the vulnerabilities in the cookie business [6] - Krispy Kreme's sale of its remaining stake in Insomnia Cookies for $75 million reflects financial restructuring efforts within the cookie segment [6]

Core Insights - The global baking market is currently experiencing a phase of "rational growth + experiential upgrade," where mature markets focus on operational efficiency and product structure adjustments, while seasonal and culturally themed products drive consumer interest [160] - Health-oriented products (low sugar, functional, whole grain) are transitioning from niche to mainstream, becoming available in supermarkets and mass channels [160] - The competitive landscape is shifting from product creation to embedding products in the right contexts and narratives [161] Group 1: New Product Launches - New products include 三吉食品's 烤鲜奶 (Cranberry flavor) with 68% fresh milk and high protein content [11] - 叮咚买菜's 情人节心意 gift box features West African imported chocolate with ≥70% cocoa solids [13] - 十足便利店's classic Swiss roll offers a high value with 100% animal cream and no trans fats [16] - 罗森's 泰式咸法酪千层条 and 苏丹王榴莲千层条 are highlighted for their rich flavors [18][19] - Family Mart's 谷物时代系列 includes a mixed grain berry bread and a whole wheat walnut flaxseed European bread, both priced at 6.5 yuan [21] Group 2: Industry Trends by Country - In China, 京东七鲜 is integrating fresh baking with new year consumption scenes, attracting significant foot traffic [162] - Japan's airport dessert streets are showcasing high-end handmade desserts, indicating a trend towards experiential consumption in travel settings [163] - South Korea's K-Bakery survival show is boosting the popularity of "K-bread" culture, with social media driving rapid product dissemination [164] - France is expanding its French baking style in North America, with a focus on community engagement and cultural recognition [166] - The U.S. retail bread market remains robust, with seasonal themes effectively driving consumer interest [167] Group 3: Future Predictions - The global trend is moving towards healthier, smaller portions with a focus on low-sugar and plant-based options by 2026 [169] - Content-driven marketing is becoming a key accelerator for cultural dissemination of baking products [169] - Seasonal and themed products are increasingly visible across markets, indicating a strong trend towards experiential and contextual baking [169]

Company Overview - Krispy Kreme, Inc. is headquartered in Charlotte, N.C., and is recognized globally for its iconic Original Glazed® doughnut, known for its hot-off-the-line, melt-in-your-mouth experience [3] - The company operates in over 40 countries through a unique network of fresh doughnut shops, partnerships with leading retailers, and a rapidly growing digital business [3] - Krispy Kreme's purpose is to enhance lives through the joy of its products, reflecting its commitment to people, communities, and the planet [3] Leadership Insights - Josh Charlesworth has been the President and CEO of Krispy Kreme since January 2024, having previously served as Chief Financial Officer and Chief Operating Officer [2] - His background includes leadership roles at Mars, where he was the Global Chief Financial Officer of Mars Chocolate from January 2015 to April 2017 [2] Growth Strategy - During a recent fireside chat at the ICR Conference 2026, the company's growth plan, menu innovation, and technology engagement strategies were discussed [1] - The company is focused on enhancing customer engagement through technological advancements and innovative menu offerings [1]

Core Viewpoint - Krispy Kreme is undergoing a significant turnaround plan focused on profitability, refranchising, and improving operational efficiency after exiting unprofitable partnerships, notably with McDonald's [2][7][23]. Group 1: Turnaround Strategy - The company has launched a turnaround plan aimed at boosting profitability, reducing leverage, and improving cash flow, with a focus on sustainable income streams [4][6][24]. - Krispy Kreme ended its partnership with McDonald's due to unprofitability and is now concentrating on profitable channels and refranchising efforts, particularly in international markets [2][7][23]. - The company is actively refranchising its operations in Japan and exploring similar opportunities in other markets like the U.K., Australia, and Mexico to enhance operational efficiency [9][16]. Group 2: Financial Performance - The third-quarter results showed positive trends, with higher adjusted EBITDA and a focus on generating positive cash flow to pay down debt [4][24]. - The company has stopped delivery operations in 1,400 locations that were not profitable while still adding new profitable ones, demonstrating a decisive approach to cost management [23]. - The goal for 2026 is to stabilize operations and show continuous improvement in EBITDA and cash flows, with a potential shift to long-term growth strategies in 2027 [25][26]. Group 3: Operational Efficiency - Krispy Kreme is outsourcing logistics to improve delivery efficiency and reduce costs, allowing the company to focus on its core competencies in doughnut production and retail [13][15]. - The company maintains strict quality control over its doughnut production process, ensuring consistency across international markets by using a concentrated mix from its North Carolina facilities [19][20][21]. - The brand is leveraging excess doughnut capacity in the U.S. to avoid the need for new shop openings domestically, focusing instead on expanding through established franchise partners internationally [10][11].

Group 1 - The 28th Annual ICR Conference 2026 hosted by Exec Edge, CorpGov, and IPO Edge featured 33 on-site fireside chats focusing on consumer trends and insights [1] - The event took place from January 12-14, 2026, and included participation from top CEOs and executives from both public and private companies [1] - A variety of companies were interviewed, including Shift4 Payments, Krispy Kreme, The Middleby Corp, and National Vision Holdings, among others [2] Group 2 - All interviews conducted during the conference will be available on the respective websites and syndicated through formal agreements with major financial platforms such as Yahoo Finance and Bloomberg [3]

Group 1 - Verizon (VZ) experienced a 1.2% decline in early trading on Thursday following the announcement that it has resolved a nationwide wireless network outage in the U.S. [1][2] - The company will provide account credits to affected users as compensation for the service disruption [1][2] - During the outage, Krispy Kreme (DNUT) offered free donuts to customers [1][2]

Core Insights - The landscape of meme stocks is evolving, with retail investors playing a significant role in defining this segment in 2025 [1][2] Group 1: Meme Stocks Evolution - Initially, meme stocks represented a struggle between Main Street and Wall Street, focusing on stocks with high short interest and heavy hedge fund ownership, such as GameStop and AMC [2] - By 2025, meme stocks have shifted towards more speculative areas, including nuclear, clean energy, and crypto-related stocks, while retail investors continue to influence the market [3] Group 2: Retail Investor Impact - Retail investors accounted for 8-10% of U.S. equity market volume before the pandemic, increasing to 20-25% in 2025, and even reaching 35% at times, indicating their growing influence [4] - The behavior of retail investors is becoming more informed and educated, with a broader range of trading options available [4] Group 3: Future of Meme Stocks - High valuations of hyper-growth stocks are justified by strong revenue and earnings growth, but caution is advised regarding these valuations [5] - Emerging areas such as nuclear energy and quantum computing are expected to fuel the next wave of meme stocks in 2026 [5] Group 4: Tesla as a Meme Stock - Tesla's valuation is based on its future potential, particularly in humanoid robotics and robotaxis, with a loyal investor base believing in its transformative potential [6] - Tesla has been labeled the "biggest meme stock" ever, with criticisms regarding its high price-to-earnings ratio and concerns over the board's compensation plan for Elon Musk [7]