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Home Blog Page 8610

McDonald’s Price Target Raised on Digital Momentum

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Jefferies raised McDonald’s (NYSE:MCD) price target to $320 from $315 and maintained a Buy rating, highlighting its digital momentum, exemplified by the successful Cardi B Meal launch and a surge in active rewards members.
Digital sales in Q4 accounted for more than 35% of the top 6 markets’ system sales, with 40% from the U.S. and 90% from China. Jefferies anticipates continued digital mix growth driven by a robust mobile app experience and expanding MyMcDonald’s Rewards program, with 50 million active members, including 28 million in the U.S.
Meanwhile, Loop Capital said U.S. franchisee checks suggest that McDonald’s same-store sales growth slightly exceeded consensus expectations in Q1, reiterating its Buy rating and $328 price target.

Miami’s Cavinder twins opt not to play basketball next season


Splitting up was not an acceptable option for twins Haley and Hanna Cavinder, who said Tuesday they will instead begin a “new chapter” away from Miami Hurricanes basketball.

Haley Cavinder said she anticipated returning for the fifth season of eligibility athletes are afforded because of the COVID-19 pandemic. When she discovered her twin, Hanna, felt the opposite, there was only one answer.

“Hanna and I have decided to not take our fifth year,” a joint statement shared via Instagram said Tuesday. “What started as us playing basketball 16 years ago turned into something bigger than we could ever imagine.”

Haley led the Hurricanes in scoring with 12.2 points per game and started all 35 games. Hanna, who is also 5-foot-6, played 16.7 minutes per game — compared to just over 30 for Haley — and averaged 3.8 points per game.

The 22-year-old twins helped Miami reach the Elite Eight as a No. 9 seed in March, beating Villanova and Indiana before losing to national champion LSU.

Social media superstars, the Gilbert, Ariz., natives spent their first three seasons at Fresno State and transferred to Miami for the 2022-23 campaign.

The twins are in the top five of all NIL earners across sports. They will continue deals with Champs Sports, WWE and others while also announcing a new media partnership.

“Everybody always talks about, ‘Oh, you don’t want to go into the real world; you don’t want to go there yet,'” Hanna told ESPN on Tuesday. “I feel like we’ve been running our business for two years now. It’s been a full-time job. I think (not playing basketball or being in college) will actually allow us to have more time now to focus on business and growing relationships.”

–Field Level Media

Brittney Griner plans ‘intimate, moving’ memoir on imprisonment in Russia


Brittney Griner is ready to share the story of her nearly 10 months in Russian custody.

Griner, 32, said in a statement Tuesday her memoir would be a detailed and thorough account of being arrested in February 2022, tried in a Russian court and convicted with a sentence that included time at a penal colony.

Publishing company Alfred A. Knopf said in the statement the young adult literature is due to be released next spring and would outline the “harrowing experience of her wrongful detainment (as classified by the State Department) and the difficulty of navigating the byzantine Russian legal system in a language she did not speak.”

The All-Star center was freed in a prisoner swap during heightened political turmoil between the United States and Russia, which invaded Ukraine in the days after her arrest.

The Phoenix Mercury star is a two-time Olympic gold medal winner and re-signed to play the 2023 season. Griner — like other American pros — spent part of her offseason in Russia, where salaries for women’s professional basketball players can approach $1 million, nearly four times the highest salary in the WNBA.

“The primary reason I traveled back to Russia for work that day was because I wanted to make my wife, family, and teammates proud. After an incredibly challenging 10 months in detainment, I am grateful to have been rescued and to be home. Readers will hear my story and understand why I’m so thankful for the outpouring of support from people across the world.”

Griner said her book would also shed light on the struggles of other Americans wrongfully detained, including Wall Street Journal reporter Evan Gershkovich. Gershkovich was arrested and detained in Russia last month, where he is accused of espionage.

–Field Level Media

Michigan State F Malik Hall to use fifth season of eligibility


Michigan State forward Malik Hall announced Tuesday that he will return for one final season of college basketball in 2023-24.

Hall opted to use the fifth year of eligibility available to NCAA athletes who played during the 2020-21 “COVID year.”

Hall’s decision comes one day after the Spartans’ leading scorer from this past season, Tyson Walker, announced that he too will be back in 2023-24.

Hall averaged 8.9 points and 4.3 rebounds per game in 23 games (five starts) for Michigan State this past season as the Spartans reached the Sweet 16 of the NCAA Tournament.

“Michigan State has been my home for the last four years,” Hall wrote in a social media post. “The experience I’ve had during my time as a Spartan has been incredible for me and my family. … Our Sweet Sixteen run was fun this year, but we fell short of our own expectations. Although I battled a foot injury most of this season, I worked hard to help us be the best team we could, but, I was left with a feeling of wanting more! I think Michigan State Basketball has the opportunity to be very special next season and I’m really excited to announce that I will be returning for my final season!”

In 118 career games (30 starts) across four seasons in East Lansing, Hall has posted 6.8 points and 4.2 rebounds per contest.

–Field Level Media

Drexel joins Philadelphia Big 5; new format unveiled


Drexel basketball is finally getting a seat at the big boys’ table in Philadelphia college hoops.

The Big 5, which formerly featured just Villanova, Temple, St. Joseph’s, La Salle and Penn, formally welcomed Drexel into the fold on Tuesday, alongside an announcement of a new format for the age-old local rivalry series.

Despite the expansion to six teams, the name “Big 5” will not change.

“Drexel University is honored to become part of the Philadelphia Big 5,” Drexel athletic director Maisha Kelly said in a press release. “The Philadelphia Big 5 is synonymous with basketball history in the city and it is exciting to have our brand now be associated with such a storied organization. As an institution of higher learning, prominently positioned in the city, we are proud to be aligned with these five schools that combine excellence in both academics and athletics. This is a historic day in Drexel basketball history.”

Starting in the 2023-24 season, the annual Big 5 championship will be determined with a new format.

Early in the nonconference portion of the regular season, the teams will play in two round-robin pods. Pod 1 includes Temple, La Salle and Drexel, and Pod 2 features Villanova, St. Joseph’s and Penn. That will determine each team’s seeding.

The six teams will then play in the Big 5 Classic tripleheader at Wells Fargo Center, with the first edition scheduled for Dec. 2 next season. The first seed from each pod will compete for the Big 5 championship, the second seeds will play for second place and the third seeds will meet for third place.

“Big 5 basketball and its traditions are a big part of the fabric of Philadelphia basketball,” La Salle coach Fran Dunphy, the former coach at both Penn and Temple, said in a release. “We look back on the Big 5’s history with great fondness, as we welcome a new member to our group in Drexel University and usher in a new era of Big 5 play. We are all excited to participate in this newly imagined format and the first Big 5 Classic at the new Wells Fargo Center next season.”

–Field Level Media

Miami G Harlond Beverly transfers to Wichita State


Former Miami guard Harlond Beverly announced Tuesday he will transfer to Wichita State.

The Detroit native was a four-star prospect coming out of high school and spent four years with the Hurricanes, reaching the Elite Eight with them in 2022 and the Final Four this season.

He primarily came off the bench, averaging 3.5 points and 12.2 minutes per contest across 37 games (one start) in 2022-23.

In 91 career games (21 starts), Beverly averaged 5.3 points, 2.3 rebounds and 2.0 assists per contest.

Wichita State recently hired Paul Mills as its next head coach following his successful run at Oral Roberts.

–Field Level Media

Louisville transfer Jae’Lyn Withers picks North Carolina


Former Louisville forward Jae’Lyn Withers announced his commitment to North Carolina on Tuesday.

Withers decided to transfer after three seasons at Louisville. He has two years of eligibility remaining after a redshirt season in 2019-20.

He made his announcement on social media, inserting himself in a Tar Heels uniform into a photo collage of some of UNC’s greats, including Michael Jordan and Vince Carter. Withers is from Charlotte, N.C.

“I chose Chapel Hill because I’d be able to compete at one of the highest levels of college basketball and I’m blessed to be able to play in my home state closer to friends and family,” he told On3 Sports. “A lot of NC players dream of playing for a school in their home state and I’m very blessed to have a familiar fan base and a new set of goals.”

The 6-foot-9 Withers averaged 8.9 points and 5.3 rebounds in 32 games (29 starts) for the Cardinals last season. He shot 41.7 percent from the 3-point line, a potential boost to a Carolina team that was awful from the perimeter in 2022-23.

Withers averaged 8.0 points and 5.6 rebounds in 81 career games (64 starts) at Louisville.

He remains in the ACC and joins a Carolina team that returns big man Armando Bacot and guard R.J. Davis. The Tar Heels also landed Brown transfer Paxson Wojcik.

The Tar Heels lost starter Caleb Love — amid six players overall — to the portal. Leaky Black and Pete Nance are out of eligibility.

–Field Level Media

Ex-Iona G Walter Clayton Jr. transfers to Florida


Former Iona guard Walter Clayton Jr. is transferring to Florida, he announced Tuesday on social media.

Clayton was the Player of the Year in the Metro Atlantic Athletic Conference in 2022-23, playing for former coach Rick Pitino. He decided to play closer to his hometown of Lake Wales, Fla., instead of following Pitino to St. John’s.

He led the Gaels in scoring, averaging 16.8 points, and added 4.3 rebounds and 3.2 assists per game over 32 games (31 starts). He also shot 95.3 percent (102 of 107) from the free-throw line to lead the nation.

He has two years of eligibility remaining.

In Iona’s loss to eventual champion UConn in the first round of the NCAA Tournament, he led the Gaels with 15 points, hitting three 3-pointers and adding four rebounds and four assists.

–Field Level Media

Syracuse All-ACC C Jesse Edwards to transfer


Syracuse All-Atlantic Coast Conference third-team center Jesse Edwards, who averaged a double-double in the 2022-23 season, announced Tuesday that he’s entering the transfer portal for his final year of eligibility.

Edwards made the announcement on social media.

“4 years ago, I got the amazing opportunity to play basketball in this cold snowy place called Syracuse that I only knew from sports highlights,” Edwards, a native of the Netherlands, began his post on Instagram. “… I have decided that it is time for me to take on a new challenge and enter the transfer portal to explore my opportunities for my grad year.”

The 6-foot-11 Edwards averaged career highs in points (14.5) and rebounds (10.3) in 32 starts in the 2022-23 season. He finished sixth in the country with 2.72 blocks per game.

He has averages of 8.8 points, 6.0 rebounds and 1.8 blocks in 95 career games (56 starts) for the Orange.

He is the fourth Syracuse player to enter the transfer portal, following leading scorer Joe Girard III, John Bol Ajak and Symir Torrence.

–Field Level Media

Villanova frosh Cam Whitmore declares for NBA draft


Villanova freshman forward and projected lottery pick Cam Whitmore declared for the 2023 NBA Draft on Tuesday.

Whitmore made the announcement in an interview with Stadium. He didn’t mention whether he would maintain his eligibility by holding off on hiring an agent.

Whitmore, 18, averaged 12.5 points and 5.3 rebounds in 26 games (20 starts) for Villanova this season. He led the team with 1.4 steals per game and was second in field goal percentage (47.8).

ESPN projects the 6-foot-7 Whitmore to go No. 7 overall in the upcoming draft.

–Field Level Media