The burrito chain said Tuesday its same-store sales grew 7.6% in the third quarter ended Sept. 30 compared with the same period last year. Higher prices helped drive some of the increase, with its average menu prices 13% higher compared with the same period last year, the company said.


Warner Bros. Discovery Names Two Superhero Veterans to Lead DC Studios

Warner Bros. Discovery Inc. has tapped the veteran director-producer team of James Gunn and Peter Safran to lead DC Studios, the movie franchise that includes a stable of valuable superhero properties including Superman, Batman, Wonder Woman and Aquaman.

Mr. Gunn and Mr. Safran will serve as co-chairmen and co-chief executives of the studio and will report directly to David Zaslav, chief executive of Warner Bros. Discovery, the company said. Mr. Zaslav has said he wants to put in place a 10-year-plan to rebuild DC and make it better compete with Walt Disney Co.'s Marvel Studios.


Metaverse Seems Poised to Spawn a New Economy, Says Activate CEO

The metaverse is a technology that is far more mature than many people realize, especially in videogames, says Michael Wolf, co-founder and chief executive of consulting firm Activate Inc.

Companies that take a long-term approach and invest in the metaverse, which refers to sophisticated online worlds, could be highly influential to its future, said Mr. Wolf, who spoke Tuesday at The Wall Street Journal's Tech Live conference. Early adopters have the opportunity to help develop what could emerge as a new virtual economy, he said.


Hurricane Ian Claims Hit Profits of Chubb

Chubb Ltd. posted a 56% decline in net income in the third quarter, as Hurricane Ian claims in Florida dented results, while strong pricing conditions continued to buoy its worldwide business-insurance operations.

Chubb, one of the world's biggest insurers by market capitalization and premium volume, said its premium growth continued to exceed the impact of inflation and other higher costs of claims.


Bitcoin and Other Cryptos Are Surging. Here's Why and What Happens Next.

Bitcoin and other cryptocurrencies shot higher after a rally across risk-sensitive assets created "short squeeze" dynamics that sent crypto prices skyward, delivering a space that has been uncharacteristically calm its best showing in a long while.

The price of Bitcoin has climbed 7% over the past 24 hours to $20,700, with the largest crypto jumping out of the $19,000 to $20,000 range that has dominated since early September. Bitcoin had traded below $19,300 on Tuesday before prices began to march steadily higher, punctuated by massive jumps upward.


Glynn's Take: RBA Unlikely to Revert to Blockbuster Rate Hikes

SYDNEY-Australia's hotter-than-expected inflation in the third quarter challenges the central bank's view that the economy is somehow different from the rest of the world.

It was this sense of exceptionalism that led to the Reserve Bank of Australia's decision to slow its interest rate increases this month, wildly bucking the trend of other major central banks which continue to signal aggressive rates increases to smash inflation.


U.K. government may miss date for announcing new fiscal plan.

The U.K. government may miss its own deadline for publishing its much-anticipated statement on how it intends to reduce its fiscal deficit.

Speaking to Sky News on Wednesday, U.K. foreign secretary James Cleverly would not confirm the budget outline - expected on October 31 - would be presented "exactly on that day".


House Democrats Retract Ukraine Letter After Backlash

WASHINGTON-A group of 30 House Democrats retracted a letter they had sent to President Biden urging him to seek direct talks with Russia to end the war in Ukraine, following backlash within the Democratic Party and disavowals from some signatories.

The reversal Tuesday underscored the sensitivity of the issue on Capitol Hill, where Congress has approved more than $65 billion in aid for Kyiv since the Russian invasion, and Mr. Biden and party leaders have said that any peace talks or terms of a cease-fire should be driven by Ukraine's government.


Mehmet Oz, John Fetterman Clash Over Crime, Abortion in Pennsylvania Senate Debate

Democrat John Fetterman and Republican Mehmet Oz clashed over crime, fracking and abortion during a testy Pennsylvania Senate debate Tuesday that featured frequent verbal stumbles by Mr. Fetterman. The debate put the communication challenges related to a stroke Mr. Fetterman suffered earlier this year in the foreground of one of the year's most consequential elections for the Senate.

The debate between Mr. Oz, the celebrity heart doctor, and Mr. Fetterman, Pennsylvania's lieutenant governor, was a highly anticipated event in the neck-and-neck Senate contest, which offers the Democratic Party its best chance to pick up a seat now held by Republicans in the 50-50 chamber.


Bad news for Democrats ahead of the midterm elections: Voters worry about a recession and declining living standards

As the midterm elections near, many Americans do not have financial peace of mind.

It's two weeks until the Nov. 8 midterm elections. The chances of the Republican Party taking back the House of Representatives and the Senate appear to be strengthening. Recession worries continue to cloud the horizon as the Federal Reserve raises interest rates to combat four-decade high inflation.


Write to paul.larkins@dowjones.com TODAY IN CANADA

Earnings:

Acadian Timber 3Q

Aecon 3Q

Agnico Eagle Mines 3Q

Alamos Gold 3Q

Canadian Pacific Railway 3Q

Champion Iron 2Q

Cresnt Point Energy 3Q

FirstSvc 3Q

Methanex 3Q

North American Construction 3Q

OceanaGold 3Q

TMX 3Q

West Fraser Timber 3Q

Economic Indicators (ET):

1000 Bank of Canada interest rate announcement

Stocks to Watch:

G2S2 Capital Boosts Investment in Slate Office REIT via Wholly Owned Subsidiary Armco Alberta; Armco Has Acquired Debentures That If Converted, Bring Securityholding in Slate Units to 17.18% From 15.84%

---

Lundin Mining 3Q Loss/Shr 1c; Loss $11.2M; Rev $648.5M

Lundin Mining: Continues to Experience Continuing Risks Associated With Global Inflation as Well as Supply Chain Delivery; To Date, There Have Been No Significant Impacts on Ops Relating to Supply Chain Availability; Implemented Procurement Strategies and a Foreign Exchange Hedging Program to Mitigate the Impact and Continues to Monitor These Risks; Total Copper, Zinc, Gold and Nickel Production Are Tracking to the Most Recently Reported Guidance Ranges as Outlined in the MD&A for the Three and Six Mos Ended June 30


Expected Major Events for Wednesday

05:00/JPN: Aug Indexes of Business Conditions - Revision

06:45/FRA: Oct Consumer confidence survey

08:00/ITA: Sep Foreign Trade non-EU

10:00/FRA: 3Q Claimant count and job advertisements collected by Pole emploi

11:00/US: 10/21 MBA Weekly Mortgage Applications Survey

12:30/US: Sep Advance Economic Indicators Report

14:00/US: Sep New Residential Sales

14:00/CAN: Bank of Canada interest rate announcement

14:30/US: 10/21 EIA Weekly Petroleum Status Report

23:01/UK: Sep UK monthly automotive manufacturing figures

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Expected Earnings for Wednesday

Amphenol Corp (APH) is expected to report $0.76 for 3Q.

Automatic Data Processing Inc (ADP) is expected to report $1.79 for 1Q.

Avery Dennison Corp (AVY) is expected to report $2.48 for 3Q.

BOK Financial Corp (BOKF) is expected to report $1.97 for 3Q.

Bank7 Corp (BSVN) is expected to report $0.82 for 3Q.

Blackstone Mortgage Trust Inc (BXMT) is expected to report $0.58 for 3Q.

Boeing Company (BA) is expected to report $0.54 for 3Q.

Boston Scientific (BSX) is expected to report $0.24 for 3Q.

Bristol-Myers Squibb Co (BMY) is expected to report $0.69 for 3Q.

Bunge Ltd (BG) is expected to report $2.52 for 3Q.

CME Group Inc (CME) is expected to report $1.85 for 3Q.

Chefs' Warehouse Inc (CHEF) is expected to report $0.26 for 3Q.

DallasNews Corp (DALN) is expected to report for 3Q.

Driven Brands Holdings Inc (DRVN) is expected to report for 3Q.

Firstservice Corp (FSV,FSV.T) is expected to report for 3Q.

General Dynamics Corp (GD) is expected to report $3.16 for 3Q.

Harley-Davidson Inc (HOG) is expected to report $1.39 for 3Q.

Hilton Worldwide Holdings Inc (HLT) is expected to report $1.17 for 3Q.

IQVIA Holdings Inc (IQV) is expected to report $1.38 for 3Q.

Marine Products (MPX) is expected to report $0.17 for 3Q.

Masco Corp (MAS) is expected to report $1.05 for 3Q.

National American University Holding Inc (NAUH) is expected to report for 1Q.

New York Community Bancorp (NYCB) is expected to report $0.31 for 3Q.

Norfolk Southern Corp (NSC) is expected to report $3.75 for 3Q.

Old Dominion Freight Line (ODFL) is expected to report $3.08 for 3Q.

Otis Worldwide Corp (OTIS) is expected to report for 3Q.

Owens Corning (OC) is expected to report $3.20 for 3Q.

Popular Inc (BPOP) is expected to report $2.75 for 3Q.

Prosperity Bancshares (PB) is expected to report $1.49 for 3Q.

RPC Inc (RES) is expected to report $0.26 for 3Q.

Rollins Inc (ROL) is expected to report $0.21 for 3Q.

Roper Technologies Inc (ROP) is expected to report $2.39 for 3Q.

Ryder System (R) is expected to report $3.67 for 3Q.

Seagate Technology Holdings PLC (STX) is expected to report for 1Q.

Silgan Holdings Inc (SLGN) is expected to report $1.22 for 3Q.

Stock Yards Bancorp Inc (SYBT) is expected to report $0.92 for 3Q.

The Kraft Heinz Co (KHC) is expected to report $0.56 for 3Q.

Turning Point Brands Inc (TPB) is expected to report $0.49 for 3Q.

Universal Stainless & Alloy Products Inc (USAP) is expected to report $0.24 for 3Q.

Waste Management Inc (WM) is expected to report $1.50 for 3Q.

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10-26-22 0532ET