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Stock Market & Financial Investment News

News Breaks
August 5, 2014
11:49 EDTBJRI, BLMN, DRI, CAKE, EATBloomin' Brands plunges to 52-week low after cutting full year profit outlook
Shares of casual restaurant operator Bloomin' Brands (BLMN) are sinking after the company reported mixed second quarter results and lowered its outlook for fiscal 2014 profit and same store sales. WHAT'S NEW: Bloomin' Brands this morning reported Q2 adjusted earnings per share of 27c and revenue of $1.1B, compared to analysts' consensus estimates of 29c and $1.09B, respectively. Same store sales for company-owned core domestic concepts increased 0.6% during the quarter, while traffic was flat, as increases from lunch expansion were offset by traffic declines in the dinner business. Elizabeth Smith, the company's Chief Executive Officer, commented that dinner traffic did not recover as the company had expected following the first quarter's winter weather events, adding that the company has responded by using marketing focused on dinner for the second half of the year. In addition, Smith said the company continues to face an increasingly competitive environment and "significant" macro issues in Korea. WHAT'S NOTABLE: Looking ahead, Bloomin' Brands lowered its FY14 adjusted EPS view to $1.05-$1.10 from its prior view of "at least" $1.21, well below consensus estimates for $1.22. The company also revised its FY14 revenue outlook to $4.4B-$4.45B from its previous view of "at least" $4.4B, compared to consensus $4.42B. It also lowered its FY14 SSS view to growth of 0%-1% from its prior view of 1%-2% growth. In addition, Bloomin' Brands now sees FY14 commodity inflation of 2.5%-3.5%, up from 2%-4% previously expected, and adjusted earnings before interest, taxes, depreciation and amortization of $459M-$470M, a decrease from prior guidance of $493M. The company still sees 55-60 new system-wide restaurants for the year. Bloomin' also said it plans to expand its Carrabba's brand to Brazil, with the first opening expected in the first half of 2015. Looking to the third quarter, the company noted that it expects certain restaurant operating expenses to be higher year over year due to the timing of marketing expenditures and costs associated with the Bonefish Grill menu rollout in early July. In addition, the company will incur additional general and administrative expenses related to its development of Carrabba's in Brazil in Q3. PRICE ACTION: In late morning trading, Bloomin' Brands plunged $4.30, or nearly 22%, to $15.50 on nearly five times its average daily trading volume. The stock continues to make fresh 52-week lows as the session unfolds. Including today's decline, the stock is down approximately 37% over the past 12 months. OTHERS TO WATCH: Other companies in the casual restaurant space include Brinker International (EAT), down 0.7%, Darden (DRI), up 0.5%, BJ's Restaurants (BJRI), up 0.7%, and The Cheesecake Factory (CAKE), down 0.1%.
News For BLMN;EAT;DRI;BJRI;CAKE From The Last 14 Days
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April 27, 2015
12:56 EDTEATBrinker downgraded to Neutral from Buy at Tigress Financial
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April 24, 2015
08:24 EDTBJRIBJ's Restaurants outlook still positive after comps miss, says Oppenheimer
After BJ's reported higher than expected EPS but weaker than expected comps, Oppenheimer says that the stock may be in the penalty box for the near-term. However, the firm remains upbeat on what it sees as the company's ongoing margin improvement story and the company's longer-term growth story. It keeps a $56 price target and Outperform rating on the shares.
April 23, 2015
16:24 EDTBJRIBJ's Restaurants says restaurant pipeline in 'excellent shape'
BJ's said: "Our 2015 restaurant pipeline remains in excellent shape. We currently have 12 new restaurants under construction and are on track to open at least 15 new restaurants this year. As of this date, we expect to open five new restaurants in the second quarter, including the restaurant which recently opened in Albuquerque, New Mexico, six new restaurants in the third quarter and two new restaurants during the fourth quarter. At the same time, our development team is building a solid pipeline for our fiscal 2016 and 2017 new restaurant openings and we remain committed to our long term annual goal of a 10% increase in operating weeks through new restaurant openings."
16:23 EDTBJRIBJ's Restaurants reports Q1 EPS 36c, consensus 28c
Reports Q1 revenue $225.1M, consensus $225.52M. Comparable restaurant sales increased 3.2%.
07:59 EDTCAKECheesecake Factory results impressive, says Stifel
After Cheesecake Factory delivered beat and raise results, Stifel continues to recommend aggressively buying the shares. The firm thinks the company's raised guidance is conservative, and it raised its price target on the name to $65 from $60.
April 22, 2015
19:14 EDTCAKEOn The Fly: After Hours Movers
UP AFTER EARNINGS: Select Comfort (SCSS), up 3.3%... Alliance Fiber Optic (AFOP), up 6.9%... eBay (EBAY), up 6.2%... Cheesecake Factory (CAKE), up 5.6%... O'Reilly Automotive (ORLY), up 3.8%... Corelogic (CLGX), up 3.2%... Skechers (SKX), up 2.5%... AT&T (T), up 1.3%. ALSO HIGHER: ARRIS Group (ARRS), up 24.9% after acquiring Pace plc. for $2.1B in cash and stock... Esperion Therapeutics (ESPR), up 2.5% after being initiated with an Outperform at RBC Capital... Uniqure (QURE), up 3.7% after being initiated with an Outperform at BMO Capital. DOWN AFTER EARNINGS: Texas Instruments (TXN), down 6.7%... Las Vegas Sands (LVS), down 4.2%... Oceaneering International (OII), down 3.7%... F5 Networks (FFIV), down 2.8%... Xilinx (XLNX), down 3.3%... Qualcomm (QCOM), down 3%... Facebook (FB), down 2.2%... Tractor Supply (TSCO), down 3.1%. ALSO LOWER: Noble Corp (NE), down 1.2% after being downgraded to Underweight from Equal Weight at Morgan Stanley.
17:15 EDTCAKECheesecake Factory raises FY15 EPS view to $2.18-$2.27, consensus $2.17
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17:12 EDTCAKECheesecake Factory sees Q2 EPS 59c-62c, consensus 61c
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16:22 EDTCAKECheesecake Factory moves up on earnings beat
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16:19 EDTCAKECheesecake Factory reports Q1 EPS 56c, consensus 48c
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15:30 EDTCAKENotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include eBay (EBAY), consensus 70c... Facebook (FB), consensus 40c... Texas Instruments (TXN), consensus 62c... Las Vegas Sands (LVS), consensus 72c... Qualcomm (QCOM), consensus $1.33... AT&T (T), consensus 62c... F5 Networks (FFIV), consensus $1.50... Plexus (PLXS), consensus 69c... Skechers (SKX), consensus $1.01... Select Comfort (SCSS), consensus 41c... Tractor Supply (TSCO), consensus 41c... Covanta (CVA), consensus (8c)... Crown Castle (CCI), consensus $1.09... Torchmark (TMK), consensus $1.05... Ameriprise (AMP), consensus $2.33... Polycom (PLCM), consensus 21c... Citrix (CTXS), consensus 65c... Core Laboratories (CLB), consensus 85c... Graco (GGG), consensus 78c... Cheesecake Factory (CAKE), consensus 48c... Equifax (EFX), consensus $1.02... SLM (SLM), consensus 7c... Xilinx (XLNX), consensus 50c... O'Reilly Automotive (ORLY), consensus $1.94... Susquehanna (SUSQ), consensus 18c... Raymond James (RJF), consensus 83c... SL Green Realty (SLG), consensus $1.49... CoreLogic (CLGX), consensus 31c... Oceaneering (OII), consensus 62c... Valmont (VMI), consensus $1.49... Brandywine Realty (BDN), consensus 32c... Weatherford (WFT), consensus 1c.
April 21, 2015
10:41 EDTEATBrinker says still sees sales, earnings growth potential
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10:18 EDTEATBrinker still sees $4 in EPS by FY17
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07:48 EDTEATBrinker reports Q3 Chili's sales up 2.6% to $662.9M
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07:47 EDTEATBrinker reports Q3 EPS, excluding items, 94c, consensus 94c
Reports Q3 revenue $761.7M, consensus $791.13M. Reports Q3 comparable restaurant sales at company-owned restaurants up 1.7%. Reports Q3 comparable restaurant sales up 2.6%. Reports Q3 Chili's company-owned comparable restaurant sales up 1.9%. Reports Q3 Maggiano's comparable restaurant sales up 0.1%. Reports Q3 Chili's franchise comparable restaurant sales up 2.5%.
April 20, 2015
15:37 EDTEATNotable companies reporting before tomorrow's open
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13:28 EDTEATEarnings Watch: Brinker down over 3% over last three months
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