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Stock Market & Financial Investment News

News Breaks
March 5, 2014
12:48 EDTBOBE, DENN, CBRLBob Evans sinks after lowering full year profit view
Shares of Bob Evans Farms (BOBE), a full service restaurant and food distributor, are sinking after the company's third quarter results trailed expectations, and it lowered its fiscal 2014 profit view for the second time this year. WHAT'S NEW: Last night, Bob Evans reported Q3 earnings per share of 30c and revenue of $340.13M, compared to expectations of 57c and $350.54M, respectively. WHAT'S NOTABLE: The company lowered its FY14 adjusted EPS view to $1.60-$1.75 from $2.20-$2.30, compared to consensus of $2.26. It also lowered its FY14 EPS outlook on January 21, from $2.60-$2.65 to $2.20-$2.30. The company cited adverse impacts from severe winter weather for the reduced guidance. For FY15, the company expects EPS of $2.80-$3.00, versus consensus of $2.90. For the Bob Evans Restaurant business, the company expects same-store sales of 3.0%-3.5% and 8 to 10 new restaurants for FY15. For the BEF Foods business, the company expects sales growth of 8%-9% and sow costs of $70 per hundredweight for FY15. Bob Evans said it expects to complete its current $225M share repurchase program by the end of FY14 and that its board of directors has authorized up to $100M of share repurchases for FY15. ANALYST REACTION: This morning, KeyBanc Capital Markets had a Hold rating on the shares. PRICE ACTION: In early afternoon trading, Bob Evans fell $4.17, or about 8%, to $47.57 on nearly four times its average daily trading volume. Despite today's slide, the stock has gained about 17% over the past twelve months. OTHERS TO WATCH: Other full service restaurants include Denny's (DENN) and Cracker Barrel (CBRL).
News For BOBE;DENN;CBRL From The Last 14 Days
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October 15, 2014
16:21 EDTDENNDenny's names Chris Bode COO
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October 14, 2014
10:01 EDTCBRLOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AU Optronics (AUO) upgraded to Neutral from Sell at UBS... Antero Resources (AR) upgraded to Buy from Accumulate at KLR Group... BHP Billiton (BHP) upgraded to Neutral from Underperform at Credit Suisse... Bill Barrett (BBG) upgraded to Buy from Accumulate at KLR Group... BorgWarner (BWA) upgraded to Buy from Neutral at Goldman... CRH Plc. (CRH) upgraded to Buy from Neutral at Citigroup... Comstock Resources (CRK) upgraded to Buy from Accumulate at KLR Group... Cracker Barrel (CBRL) upgraded at Argus... Delphi Automotive (DLPH) upgraded to Buy from Neutral at Goldman... EOG Resources (EOG) upgraded at Bernstein... Eaton (ETN) upgraded to Overweight from Equal Weight at Barclays... Energizer (ENR) upgraded to Outperform from Market Perform at Wells Fargo... Energy Transfer Equity (ETE) upgraded to Outperform at RW Baird... Federal-Mogul (FDML) upgraded to Neutral from Sell at Goldman... Ford (F) upgraded to Neutral from Underperform at Buckingham... Gulfport Energy (GPOR) upgraded to Accumulate from Hold at KLR Group... Halcon Resources (HK) upgraded to Buy from Hold at KLR Group... HeartWare (HTWR) upgraded to Overweight from Neutral at Piper Jaffray... Helmerich & Payne (HP) upgraded to Outperform at FBR Capital... Legg Mason (LM) upgraded to Neutral from Underperform at BofA/Merrill... Level 3 (LVLT) upgraded to Buy from Hold at Gabelli... Magnum Hunter (MHR) upgraded to Buy from Hold at KLR Group... NetScout (NTCT) upgraded at DA Davidson... Netflix (NFLX) upgraded to Buy with $600 target at BTIG... Newfield Exploration (NFX) upgraded to Buy from Hold at KLR Group... Nielsen (NLSN) upgraded at Bernstein... Orbitz (OWW) upgraded to Outperform from Market Perform at FBR Capital... PDC Energy (PDCE) upgraded to Buy from Hold at KLR Group... Rackspace (RAX) upgraded to Buy from Hold at Evercore... Range Resources (RRC) upgraded to Accumulate from Hold at KLR Group... Rex Energy (REXX) upgraded to Buy from Accumulate at KLR Group... SM Energy (SM) upgraded to Buy from Accumulate at KLR Group... Sanchez Energy (SN) upgraded to Buy from Accumulate at KLR Group... Targa Resources (TRGP) upgraded to Buy from Accumulate at Tudor Pickering... Unilife (UNIS) upgraded to Buy from Neutral at Ladenburg... Universal Forest (UFPI) upgraded at Sterne Agee.
08:20 EDTCBRLCracker Barrel upgraded at Argus
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08:13 EDTCBRLCracker Barrel upgraded to Buy from Hold at Argus
October 10, 2014
16:34 EDTDENNBrown Advisory reports 5.3% passive stake in Denny's
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16:06 EDTBOBEBob Evans says Steven Davis remains CEO, director
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