CNNE - Restaurant stocks rally after strong sector earnings relaxing of pandemic rules

Solid earnings reports from Chipotle (CMG +8.8%) and Yum Brands (YUM +3.2%) gave a lift to the restaurant sector on Wednesday as investors look for the recovery to continue. 45 of the 56 publicly-traded restaurant stocks were showing a gain on the day in mid-day trading. The pandemic news has also been trending positive for the restaurant sector with New York adding to the generally positive vibe by lifting mask and vaccine mandates for indoor businesses. Big gainers included Sweetgreen (SG +3.7%), Kura Sushi (KRUS +4.0%), The One Group Hospitality (STKS +3.1%), Brinker International (EAT +2.6%), Darden Restaurants (EAT +2.6%), Shake Shack (SHAK +2.3%), Cannae Holdings (CNNE +2.1%), Portillo's (PTLO +1.8%), Fiesta Restaurant Group (FRGI +2.5%), First Watch Restaurant Group (FWRG +2.8%) and Wendy's (WEN +2.0%). Read more about Yum Brands' (NYSE:YUM) comparable sales beat and Chipotle's (NYSE:CMG) unit growth forecast.

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Restaurant stocks rally after strong sector earnings, relaxing of pandemic rules