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News Breaks
January 15, 2013
09:38 EDTJACK, SIG, TXRH, SSI, FNP, BKWBarclays hosts company meetings at ICR XChange
Company meetings, in conjunction with the ICR XChange Conference, are being held in Miami on January 15-17.
News For BKW;FNP;SIG;SSI;TXRH;JACK From The Last 14 Days
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November 23, 2015
10:54 EDTJACKBattleground: Analysts vary widely in assessing E. coli impact on Chipotle
Research firms had very different views on Chipotle's (CMG) outlook after the company announced late Friday afternoon that six new cases of E coli linked to its restaurants had been identified in four additional states, triggering a 12.5% decline in the shares. JPMorgan wrote that the selloff in the stock was overdone, as the E.Coli outbreak should have only "a limited impact" on the company's results. Similarly, research firm William Blair does not expect the casual dining company's results to be meaningfully impacted by the news. However, Bank of America/Merrill Lynch downgraded the stock two notches, to the firm's equivalent of a Sell, and Sterne Agee cut its rating on the name to Neutral, with both firms predicting that the new E.coli cases would meaningfully hurt Chipotle's results. BACKGROUND: Chipotle announced that it was informed by the federal government that six new cases of E.coli had been found which matched a previous strain of the disease linked to the company's restaurants. Five of the six newly diagnosed individuals reported that they had recently eaten at Chipotle restaurants, the company reported late Friday. The previous outbreak of E.coli had been restricted to Washington state and Oregon, but the new cases involved individuals living in California, New York, Minnesota and Ohio. BULLS: According to JPMorgan analyst John Ivankoe, the selloff in Chipotle's stock is overdone, as the E.coli outbreak seems to be "very contained and minor." The six additional cases do not mean that a "widespread outbreak" has occurred, wrote the analyst, who expects the company's comp sales to drop about 2% this quarter and to be flat in the first quarter of 2016 before rising 2% in both Q2 and Q3. Moreover, he believes that "numerous" initiatives that the company is undertaking could drive its comp sales higher. Ivankoe trimmed his price target on the name to $680 from $750 but kept an Overweight rating on the shares. William Blair analyst Sharon Zackfia says that if the 12.5% drop in the stock on Friday implies that 12.5% of the company's 2016 profits could be at risk, it appears investors expect the company's same-store sales to decline 7%-8% next year. Zackfia says that such a decline is "highly unlikely," and she believes that Chipotle's same-store sales could actually "firm" in 2016. The analyst, who expects the company to emerge "largely unscathed" from the outbreak, kept an Outperform rating on the stock. BEARS: BofA Merrill Lynch analyst Joseph Buckley lowered his rating on Chipotle two notches to Underperform, the firm's equivalent of Sell, from Buy. The new cases suggest that the E.coli outbreak is national and not just confined to the Pacific Northwest region, the analyst stated. Chipotle's same-store sales will drop 4% this quarter, as the short-term impact on the company could be magnified because it has benefited in the past from being seen as having high quality food, Buckley believes. However, the analyst added that he does not expect the E.coli outbreak to hurt the company over the longer term. Nonetheless, he slashed his price target on the name to $470 from $750. Also downgrading Chipotle was Sterne Agee analyst Lynne Collier, who cut her rating on the name to Neutral from Buy. The fact that the source of the problem has not been identified creates doubt about whether the bad news for the company is over, Collier believes. Although the new cases of E.coli appear to have occurred during the same time period as the previous reported cases, the company's sales could still be negatively affected for 6-12 months, wrote the analyst, who now expects its SSS to fall 2% this quarter. She lowered her 2016 EPS estimate for the company to $19.22 from $20.40. WHAT'S NOTABLE: Maxim Group upgraded its rating on Panera Bread (PNRA) to Buy from Hold, predicting that the restaurant operator would benefit from Chipotle's problems. The firm set a $210 price target on the shares. Yum! Brands' (YUM) Taco Bell and Jack in the Box's (JACK) Qdoba are other competitors of Chipotle. PRICE ACTION: In morning trading, Chipotle rebounded 6% to $568.33.
10:17 EDTSIGHigh option volume stocks
High option volume stocks: TRQ SIG XRT NXST NGD PSTG GME ONTY ADI JEC
November 20, 2015
08:05 EDTSSIStage Stores has reached compelling entry point, says SunTrust
After Stage Stores reported weaker than expected results, SunTrust thinks the company has been hurt by circumstances beyond its control, including the mild weather. The firm believes that the company's fundamentals remain intact, and it keeps a Buy rating on the shares.
November 19, 2015
15:11 EDTSSIStage Stores downgraded to Market Perform from Outperform at Telsey Advisory
09:16 EDTSSIOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Keurig Green Mountain (GMCR), up 19%... (CTRP), up 11.8%... (CRM), up 5.4%... Perry Ellis (PERY), up 4%. ALSO HIGHER: Celladon (CLDN), up 55.9% after signing a merger agreement with Eiger BioPharmaceuticals... StemCells (STEM), up 45.7% after Phase II Pathway Study data shows motor improvement in SCI patients... UniPixel (UNXL), up 36.1% after receiving an initial mass production order from a Japanese PC manufacturer... Anavex Life Sciences (AVXL), up 16% after announcing preparation of regulatory filings based on guidance from FDA... Plug Power (PLUG), up 3.7% after securing Colruyt Group as its next GenDrive fuel cell customer in Europe. DOWN AFTER EARNINGS: Stage Stores (SSI), down 14.7%... JinkoSolar (JKS), down 7.5%... Best Buy (BBY), down 5.2%... Semtech (SMTC), down 7.5%. ALSO LOWER: AMAG Pharmaceuticals (AMAG), down 8.4% after receiving a complete response letter from the FDA its application seeking approval for a single-dose vial of Makena... Titan International (TWI), down 8.3% after being downgraded to Sell from Neutral at Goldman... Sunedison (SUNE), down 5.5% after Reuters reported that Blackstone (BX) is not interested in SunEdison investment.
06:38 EDTSSIStage Stores board approves resumption of $200M share repurchase program
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06:38 EDTSSIStage Stores sees Q4 comp sales to be down 2%-4%
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06:37 EDTSSIStage Stores cuts FY15 adjusted EPS to 70c-80c from $1.05-$1.15, consensus $1.00
The company expects continued challenges of stores located in geographies pressured by oil and gas and a devalued peso.
06:35 EDTSSIStage Stores: Q3 negatively impacted oil and gas pressure, devalued peso
06:35 EDTSSIStage Stores reports Q3 adjusted EPS (29c), consensus (19c)
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November 18, 2015
07:59 EDTSIGSignet Jewelers should be bought heading into earnings, says Cowen
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November 17, 2015
19:25 EDTJACKOn The Fly: After Hours Movers
UP AFTER EARNINGS: Jack in the Box (JACK), up 3.7%... Vipshop Holdings (VIPS), up 2.2%. ALSO HIGHER: Universal Insurance (UVE), up 5.3% after issuing a statement saying that Lakewood Capital Management's statement was misleading... Norfolk Southern (NSC), up 2% after confirming a merger offer from Canadian Pacific (CP). LOWER: Citrix Systems (CTXS), down 1.8% after announcing operational review and the spin off of its GoTo family of products.
16:15 EDTJACKJack in the Box sees FY16 SSS up 2%-4%
Sees FY16 same-store sales increase of approximately 2%-4% at Jack in the Box company restaurants.Sees FY16 same-store sales increase of approximately 2%-4% at Qdoba company restaurants.
16:13 EDTJACKJack in the Box sees Q1 SSS up 1%-3%
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16:11 EDTJACKJack in the Box sees FY16 operating EPS $3.55-$3.70, consensus $3.55
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16:09 EDTJACKJack in the Box reports Q4 operating EPS 62c, consensus 65c
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15:13 EDTJACKNotable companies reporting after market close
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14:13 EDTJACKJack in the Box technical comments before earnings
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November 16, 2015
10:02 EDTTXRHTexas Roadhouse added to Best Ideas List at Longbow
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November 13, 2015
08:03 EDTJACKJack in the Box volatility elevated into Q4 and outlook
Jack in the Box November call option implied volatility is at 69, December is at 42, March is at 34; compared to its 52-week range of 22 to 50, suggesting large near term price movement into the expected release of Q4 results on November 18.
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