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June 25, 2014
07:32 EDTBLMN, CMG, YUM, BWLDBuffalo Wild Wings price target raised to $175 from $160 at Deutsche Bank
Deutsche Bank raised its price target for Buffalo Wild Wings (BWLD) shares to $175 saying restaurant trends have regained some momentum following weather-related issues in Q1. The firm also raised its price target for Hold-rated Chipotle (CMG) to $575 from $550. It calls Bloomin' Brands (BMLN) and Yum! Brands (YUM) its top picks in the Restaurant space.
News For BWLD;CMG;BLMN;YUM From The Last 14 Days
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November 20, 2015
14:37 EDTCMGChipotle says working closely with officials on E. coli issue, Bloomberg reports
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14:34 EDTCMGChipotle options active after CDC says three states added to E. coli outbreak
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14:27 EDTCMGChipotle drops after CDC says three states added to E.coli outbreak
Three additional states have reported people infected with the outbreak strain of Shiga toxin-producing Escherichia coli O26 infections linked to Chipotle Mexican Grill restaurants, the Center for Disease Control announced. 45 people infected with the outbreak strain of STEC O26 have now been reported from a total of 6 states: two in California, two in Minnesota, one in New York, one in Ohio, thirteen in Oregon, and twenty-six in Washington, the CDC said. Shares of Chipotle are down over 6% to $572.19 in afternoon trading following the CDC's update.
14:23 EDTCMGChipotle falls over 5% following CDC report on E. Coli outbreak
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November 19, 2015
10:00 EDTBLMNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Airgas (ARG) downgraded to Neutral from Accumulate at Seaport Global... Bloomin' Brands (BLMN) downgraded to Buy from Conviction Buy at Goldman... Brinker (EAT) downgraded to Neutral from Buy at Goldman... Civitas Solutions (CIVI) downgraded to Outperform from Strong Buy at Raymond James... Columbia Sportswear (COLM) downgraded on a more cautious outloook at BofA/Merrill... Fairchild (FCS) downgraded to Neutral from Buy at Citi... Lennox (LII) downgraded to Neutral from Buy at Longbow... Newfield Exploration (NFX) downgraded to Neutral from Buy at Goldman... Regis (RGS) downgraded to Neutral from Overweight at Piper Jaffray... Synergy Resources (SYRG) downgraded to Accumulate from Buy at KLR Group... Titan International (TWI) downgraded to Sell from Neutral at Goldman... eLong (LONG) downgraded to Hold from Buy at Brean Capital.
06:12 EDTBLMNBloomin' Brands downgraded to Buy from Conviction Buy at Goldman
Goldman analyst Karen Holthouse removed Bloomin' Brands from the Conviction Buy List and lowered her price target to $22 from $24 on shares. Holthouse sees risk to top-line growth given the competitive environment but retains her Buy rating given valuation and since the company is exploring strategic options.
November 18, 2015
05:40 EDTYUMStocks with implied volatility below IV index mean; YUM RAD
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November 17, 2015
05:33 EDTYUMStocks with implied volatility below IV index mean; YUM QCOM
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November 16, 2015
08:28 EDTCMGChipotle comps likely to fall in Q4, 1Q16, says Bernstein
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07:56 EDTYUMTaco Bell committed to serving cage-free eggs in U.S. restaurants by end of 2016
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06:11 EDTYUMTaco Bell to stop using eggs laid by caged hens by 2017, Reuters reports
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November 13, 2015
17:04 EDTYUMThird Point gives quarterly update on stakes
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12:34 EDTYUMOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday following worse than expected retail sales data in the U.S. and a report showing that the Eurozone's economic growth slowed last quarter. ECONOMIC EVENTS: In the U.S., retail sales rose 0.1% in the month of October, versus expectations for an increase of 0.3%. When autos and gas are removed, the core reading was up 0.3%, versus expectations for a rise of 0.4%. Producer prices fell 0.4%, versus expectations for them to be up 0.2%. When food and energy are removed, the core reading was down 0.3%, versus expectations for it to be up 0.1%. Business inventories grew 0.3% in September while sales were flat compared to August. Consumer sentiment, as measured by the preliminary print from the University of Michigan survey, improved 3.1 points to 93.1 in November, which was better than the 91.5 reading that was expected. In Europe, data showed that eurozone's economy grew by just 0.3% in the third quarter, which was a slowdown from the 0.4% GDP growth recorded three months earlier and weaker than the 0.4% consensus growth forecast. COMPANY NEWS: Shares of retailers broadly declined on Friday morning following the weaker than expected retail sales data reported by the government as well as third quarter earnings reports from Nordstrom (JWN) and J.C. Penney (JCP). Each of the aforementioned department store operators slid following their reports, as did Macy's (M) and Kohl's (KSS), which reported on their own results earlier in the week. TJX Companies (TJX) and Ross Stores (ROST), which are both scheduled to report quarterly earnings next week, were also among those caught up in the weakness... Shares of Mylan (MYL) jumped 13% after the company's offer to acquire Perrigo (PRGO) failed, ending a seven-month fight between the two drugmakers. Perrigo Chief Executive Officer Joseph Papa said he was "delighted" that his company's shareholders rejected the offer and the company added that it will immediately commence its previously announced $2B share buyback program, but its shares slid 7% in the wake of the shareholder vote... Cisco (CSCO) fell 6% after its first quarter earnings and revenue beat expectations but its guidance for the new quarter disappointed. A number of analysts that had been bullish on the name trimmed their price targets in response but also recommended the post-earnings weakness as a buying opportunity. MAJOR MOVERS: Among the notable gainers was Syngenta (SYT), which rallied 5% after Bloomberg reported that the company rejected an initial $42B offer from ChemChina. Also higher was Yum! Brands (YUM), which gained 4% after it reported positive year over year same store sales growth for its China division in October. Among the noteworthy losers was GameStop (GME), which fell 14% after its stock was downgraded at Pacific Crest and NPD estimated that video game software sale declined 3% last month compared to the same month of last year. Also lower was Fossil (FOSL), which plunged 33% after the watchmaker gave lower than expected profit guidance for the upcoming quarter and said it continues to expect this fiscal year's results to be "significantly" negatively impacted by foreign currency changes. INDEXES: Near midday, the Dow was down 88.19, or 0.51%, to 17,359.88, the Nasdaq was down 34.22, or 0.68%, to 4,970.86, and the S&P 500 was down 9.24, or 0.45%, to 2,036.73.
11:45 EDTCMGEl Pollo LoCo sinks to 52-week low after cutting FY15 same store sales guidance
Shares of quick-service restaurant operator El Pollo LoCo (LOCO) are plunging after the company cut its fiscal 2015 same-store sales outlook and narrowed its fiscal 2015 profit view. WHAT'S NEW: Thursday night after the close, El Pollo LoCo reported third quarter adjusted earnings per share of 18c, beating analysts' consensus estimates of 15c, and revenue of $88.9M, missing the consensus of $90.4M. For the quarter, system wide SSS increased 0.6%, company owned SSS were flat, franchise SSS rose 1.1%, and adjusted EBITDA increased 9.9% to $16.6M. Chief Executive Officer Steve Sather noted that Q3 results represented the company's 17th consecutive quarter of system-wide comparable restaurant sales growth as well as pro forma net income growth of over 40%. He added that the company's new restaurant pipeline was, "strong and growing stronger." GUIDANCE: Looking ahead, El Pollo LoCo cut its FY15 system-wide comparable restaurant sales growth view to approximately 1.7% from 3%. It also lowered its outlook for openings of new company-owned restaurants to 13-15 from 16, and openings of new franchised restaurants to 5 from 8. FY15 adjusted EBTIDA guidance was cut to $64M-$66M from $65M-$67M. Due to the revised assumptions, the company narrowed its FY15 pro forma diluted EPS view to 67c-69c from 67c-71c, compared to the consensus of 68c. ANALYST REACTION: Research firm Baird downgraded El Pollo Loco to Neutral from Outperform to reflect reduced visibility, uncertain comps outlook and possible downward bias to earnings if top-line trends do not improve. Baird lowered its price target to $12 from $18 on El Pollo Loco shares. PRICE ACTION: In late morning trading, El Pollo Loco fell $1.30, or about 11.25%, to $10.22 on nearly four times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $9.58. Over the past 12 months, the stock is down approximately 70%. OTHERS TO WATCH: Other quick-service restaurants include Fiesta Restaurant (FRGI), down 2.5%, Chipotle Mexican Grill (CMG), down 2.7%, Del Taco (TACO), down 2.15%, Popeyes Louisiana Kitchen (PLKI), down 1.3%, and Bojangles (BOJA), down fractionally.
11:33 EDTCMGStocks with call strike movement; CBS CMG
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10:49 EDTCMGChipotle breaks back below $600 on lower consumer brand perception
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09:39 EDTYUMYum! Brands rises on improving China sales
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09:27 EDTYUMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Blue Buffalo (BUFF), up 8.2%... Applied Materials (AMAT), up 3.8%... Planet Fitness (PLNT), up 9.8%... Lipocine (LPCN), up 16.2% after reporting quarterly results and that the FDA has assigned a Prescription Drug User Fee Act goal date of June 28, 2016. ALSO HIGHER: Mylan (MYL), up 10.9% after Perrgo (PRGO) shareholders did not tender enough shares for the hostile takeover bid to succeed... Plug Power (PLUG), up 7.3% after entering into a strategic supply agreement with 3M (MMM)... Yum! Brands (YUM), up after reporting that October China Same-Store Sales are up 5%. DOWN AFTER EARNINGS: Fossil (FOSL), down 24.5%... Fossil (JWN), down 20.6%... El Pollo LoCo (LOCO), down 15.1%... Cisco (CSCO), down 4.1%.... Tyco (TYC), down 4.1%... J.C. Penney (JCP), down 6.8%. ALSO LOWER: Fitbit (FIT), down 8.4% after 17M share Secondary priced at $29.00... GameStop (GME), down 8% after being downgraded to Sector Weight from Overweight at Pacific Crest... Lions Gate (LGF), down 2.6% after 3.4M share Spot Secondary priced at $39.43... Perrigo is down 10.5% after shareholders did not tender enough shares for the hostile takeover bid to succeed.
09:21 EDTYUMWendy's '4 for $4' a hit, McDonald's promo may be next
An analyst at Citi believes Wendy's (WEN) has seen strong results from its ongoing "4 for $4" promotion, prompting him to add the stock to the firm's Focus List and predict that the company's same-store sales growth this quarter will beat expectations. 4 FOR $4: Under an ongoing promotion that was launched in October, Wendy's offers a junior bacon cheeseburger, four piece chicken nuggets, fries, and a drink for $4. Citi analyst Gregory Badishkanian told investors in a research note this morning that his analysis and talks with those in the fast-food industry suggest that the promotion continues to drive strong results, leading to a rise in transactions at Wendy's with little to no impact on restaurants' average check total. Badishkanian predicts Wendy's will post fourth quarter same-store sales growth of at least 4%, versus the First Call consensus forecast of 2.7% and the 3.3% growth implied by the high-end of the company's fiscal year guidance. INDUSTRY VALUE FOCUS: Wendy's management has emphasized value offerings recently, but other quick service restaurant peers are also increasing their focus on value, Badishkanian noted. The analyst sees a good chance that McDonald's (MCD) will roll-out a "2 for $2" promotion soon, which he believes could have a "modest" impact on Wendy's, but more of an impact on Restaurant Brands' (QSR) Burger King. Badishkanian predicts McDonald's same-store sales growth should accelerate further in the fourth quarter, but not at the expense of Wendy's. He keeps a Buy rating on Wendy's shares with an $11 price target. WHAT'S NOTABLE: Yum! Brands (YUM), which also competes in the quick service food space with its KFC, Pizza Hut and Taco Bell brands, is rallying this morning after reporting last night that its China division's same-store sales grew an estimated 5% in October. PRICE ACTION: Wendy's stock has gained over 5% in the last month, closing yesterday at $9.63 per share. In that same period, McDonald's shares have risen over 8% while Restaurant Brands has declined 3%.
06:36 EDTCMGChipotle hits lowest consumer perception since 2007, CNBC reports
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