—— Wingstop Shares Hit Record on New Menu Item; U.S. Mortgage Applications Plunge 18%; Intel Cuts Dividend by 66%; China Urges State Firms to Drop Big Four Auditors; Meta Plans Thousands More Layoffs; McKinsey May Cut 2,000 Staff; China Lithium Prices Down 29%
1. Wingstop新品助股价创新高
Today, chicken wing chain Wingstop Inc. reported that same-store sales rose 8.7% in the fourth quarter, exceeding analysts’ expectations of 8.7%.
Additionally, with chicken wing costs down significantly from a year ago, adjusted earnings per share also beat estimates.
Boosted by the strong results, Wingstop’s stock rose as much as 17% today, adding over $400 million in market value. The stock is up 32% year-to-date.
Citigroup analyst Jon Tower said recent sales momentum was driven by the company’s new chicken sandwich, third-party delivery partnerships, and increased promotional efforts.
Wingstop CEO Michael Skipworth said the company sees strong long-term potential for its chicken sandwich offering.
Wingstop’s new product launch sent its shares up 17%, adding $400 million in market cap.

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2. U.S. Mortgage Applications Plunge 18%
According to data released today by the Mortgage Bankers Association (MBA), mortgage application volume fell 18% for the week ending February 17, with the composite index dropping to 147.1—its sharpest weekly decline since 2015.
The MBA’s refinancing index also fell 2.2%, reaching a three-week low.
The average interest rate for 30-year fixed mortgages rose by 23 basis points to 6.62%. Rates for 5-year adjustable-rate mortgages also increased.
Home-purchase applications have dropped to a 28-year low as borrowing costs climb.

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3. Intel Cuts Dividend by 66%
Today, Intel Corp., the world’s largest PC processor maker, announced it will cut its quarterly dividend by 66% to $0.125 per share—the lowest payout since 2007.
Intel said the move is part of a strategy to better allocate capital for long-term value creation. Increased flexibility, the company stated, will help it manage through uncertain economic conditions.
Last month, Intel warned this quarter may be its worst on record, citing declining PC demand and the semiconductor industry downturn.
As of Tuesday, Intel shares had fallen 42% over the past 12 months—making it one of the worst performers in the Philadelphia Semiconductor Index.
By slashing dividends, Intel risks losing further investor confidence within its sector.

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4. China Urges State Firms to Drop Big Four Auditors
Last month, China’s Ministry of Finance and other agencies urged state-owned enterprises not to renew contracts with the Big Four U.S. accounting firms, citing concerns over data security.
The ministry advised that while overseas subsidiaries of state firms could still use Big Four auditors, domestic parent companies should switch to local Chinese or Hong Kong firms.
Sources said the government aims to reduce reliance on U.S. audit firms and bolster control over sensitive national data.
However, the drawback is that using lesser-known firms may reduce transparency for overseas investors and make it harder for state firms to raise capital abroad.
Global investors recognize Big Four audits, so switching auditors could weaken foreign capital inflows.

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5. Meta Plans Thousands More Layoffs
Sources report that Meta Platforms, the parent of Facebook and Instagram, is preparing for another round of layoffs. After cutting 13% of its workforce last November, Meta now plans to lay off thousands more and cancel many ongoing projects.
Previously, in an effort to boost productivity, Meta required department heads and managers to actively participate in day-to-day operations or leave the company.
At a recent earnings call, CEO Mark Zuckerberg described Meta as “bloated” and said growth had slowed. He announced plans to gradually eliminate redundant middle managers and underperforming initiatives in 2023.
Zuckerberg had warned managers to work alongside staff on key projects or face termination.

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6. McKinsey May Cut 2,000 Staff
Sources report that consulting giant McKinsey & Company is planning to cut up to 2,000 back-office employees.
Today, McKinsey said it would restructure its “non-client-facing” workforce to boost operational efficiency and better support client-facing staff.
The cuts may affect departments such as HR and technology communications. Compliance and legal teams will be spared.
Over the past five years, McKinsey added 17,000 employees. Of its current 45,000 global staff, more than half are in client-facing roles.
Consulting and investment firms rely heavily on front-office talent, with back-office teams providing support.

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7. China Lithium Prices Down 29%
According to pricing agency Fastmarkets, lithium metal prices in China fell 29% over the past quarter from their November peak, reaching $61,795 per metric ton—largely due to declining demand and sales in the country’s electric vehicle (EV) market.
Fastmarkets analyst Jordan Roberts said China’s property crisis has weakened consumer confidence, and EV subsidies are gradually being phased out—factors that may pressure the industry.
In mid-2021, global EV sales surged, causing supply shortages in semiconductors and batteries. Now, as China—one of the world’s largest EV markets—sees demand weaken, lithium-related stocks worldwide are being impacted.
China’s shrinking EV demand is shaking global supply chains tied to lithium and battery production.

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This content is sourced from Financial Times, Bloomberg, and The Real Deal, among other financial news outlets.