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Matt McGinley of Evercore ISI asks about restaurant-level labor amid wage inflation. CEO Todd Penegor said $WEN is seeing good operating leverage within its restaurants and floor promotion is the best tailwind when it comes to managing labor input costs. Creating efficiencies in labor and investing in technology helps in mitigating wage inflation.
No better outlook on $MSFT. Even if the results beat a bit, the stock may move 4 to 6% higher, but won't go above $60.