Restaurant stocks are on the move Monday and we’re diving into today’s news to learn why.
Let’s get the big news for today out of the way first. Del Taco Restaurants (NASDAQ:TACO) shares are soaring higher after announcing a deal with Jack in the Box (NASDAQ:JACK). This will have JACK buying TACO for $12.51 per share, which values the deal at $575 million.
With that news breaking this morning, it makes sense we’d see other stocks rise alongside it. After all, it’s not uncommon for stocks in the same sector to ride higher or lower in sympathy with other shares.
Of course, that’s not the only news that has other restaurant stocks on the rise today. We’ve also got to take a moment to update traders on the Covid-19 Omicron variant. As it turns out, Omicron isn’t looking near as bad as previous versions. Those infected seem more likely to only suffer mild symptoms.
Everyone, especially restaurants, doesn’t want to return to lockdowns or travel restrictions, and that appears unlikely. With Omicron not being as much of a threat, fears traders have about companies seeing less business during the pandemic.
Keeping that in mind, here’s how several restaurant stocks are performing today!
Restaurant Stocks Rising
- Del Taco Restaurants stock is rising 66.2% as of noon Monday.
- Dine Brands (NYSE:DIN) shares are getting a 5% boost.
- Cheesecake Factory (NASDAQ:CAKE) stock is heading 4% higher.
- McDonald’s (NYSE:MCD) shares are jumping 2.5%.
- BJ’s Restaurants (NASDAQ:BJRI) stock is gaining 8.1%.
- Fiesta Restaurant (NASDAQ:FRGI) shares are increasing by 9.8%.
Investors looking for more of the latest stock market news will want to stick around!
We’ve got all the most recent stock coverage that traders need to know for Monday. Among that is VYNE Therapeutics (NASDAQ:VYNE) stock price predictions, CF Acquisition Corp. VI (NASDAQ:CFVI) shares rising, as well as Insignia Systems (NASDAQ:ISIG) stock rocketing higher. You can learn all about that from the following links!
More Monday Stock Market News
- VYNE Stock Price Predictions: Why One Analyst Sees VYNE Therapeutics Going to $7
- Is CFVI Stock the Next DWAC? The New ‘Trump Trade’ Rallies Ahead of Rumble SPAC Merger.
- ISIG Stock: 6 Things to Know About Insignia Systems as Shares Rocket Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.