Stocks to Watch: Cava, DLocal, Sacks Parente Golf, Mercury Systems

By Will Feuer

Fast-casual restaurant chain Cava Group swung to a profit and posted higher sales in the second quarter. Same-restaurant sales, which strips out the effects of store openings and closings, grew 18%. The company also said it expects to open 65 to 70 new stores this year. Shares climbed more than 9%, to $50.55, in after-hours trading.

DLocal tapped Pedro Arnt, the former chief financial officer of e-commerce giant MercadoLibre, as its new co-chief executive officer. The company also reported a 59% jump in second-quarter sales and profit that topped analysts’ expectations, according to FactSet. Shares rose almost 30%, to $20.06, in the after-hours session.
Sacks Parente Golf gave back some of its gains notched during trading hours on its market debut. Shares of the Camarillo, Calif.-based golf equipment maker, which priced its initial public offering of 3.2 million shares at $4 a share, saw a more than six-fold increase in price during market trading and ended the session at $28.97. In the after-hours session, shares fall 27%, to $21.08.
Mercury Systems swung to a loss and reported a drop in fiscal fourth-quarter sales. The military chip maker’s outlook for the current fiscal year also came in lower than analysts’ expectations. “Despite strong demand, a small number of our programs are facing short-term execution challenges,” Chief Executive Bill Ballhaus said. “We are aggressively prioritizing actions that will deliver the greatest impact.” Shares fell almost 11%, to $30.27, in the after-hours session.
Write to Will Feuer at [email protected]