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August 6, 2014
04:55 EDTBYD, BYD, SGMS, SGMS, SBUX, SBUX, PENN, PENN, MGAM, MGAM, MCRI, MCRI, YUM, YUM, FUN, FUN, DRI, DRI, SIX, SIXCredit Suisse to hold a conference
3rd Annual Gaming, Lodging, Leisure & Restaurants Conference to be held in New York on August 6-7.
News For BYD;DRI;FUN;YUM;MCRI;MGAM;PENN;SBUX;SGMS;SIX From The Last 14 Days
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March 19, 2015
13:27 EDTSBUXStarbucks hits fresh life high, levels to watch
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13:00 EDTSBUXOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with Nasdaq slightly higher and the Dow and S&P 500 both down a bit more than 0.5%. The day’s economic reports were generally benign and are likely less significant to the trading action than participants having had some time to digest yesterday’s Fed comments. Immediately after the Fed's policy statement yesterday, the U.S. dollar fell as low as 1.10 against the euro, but that move was almost entirely reversed overnight. The dollar was back near pre-Fed levels against the euro early this morning, and similar moves were seen in pairs of the dollar and other major currencies. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 1K to 291K in the week ended March 14, which nearly matched the consensus 293K forecast. The current account deficit widened to $113.5B in Q4 from a revised deficit of $98.9B in Q3. The leading indicators for February rose 0.2% to 121.4, which was in-line with expectations. The Philadelphia Fed business outlook survey ticked down to a 5.0 one-year low from 5.2 in February, missing expectations for it to have risen a 7.0 reading. In Europe, the Swiss National Bank left rates unchanged, cut its growth forecasts for the country's economy, said that it will intervene in currency markets as needed since it believes the Swiss Franc remains overvalued. COMPANY NEWS: Apple (AAPL) joined the Dow Jones Industrial Average today, replacing AT&T (T). Shares of the iPhone maker were down 0.5% near midday, while AT&T stock fell a bit more than 1%... Shares of coffee giant Starbucks (SBUX) hit a new all-time high of $98.50 earlier this afternoon following the company's investor day meeting yesterday. In conjunction with its meeting, Starbucks reaffirmed its goal to grow its market cap to $100B, unveiled plans for two pilots of delivery services, announced that its board has declared the sixth two-for-one split of the company’s stock since its IPO in 1992 and said it has entered into an agreement for Tingyi to manufacture and expand the distribution of Starbucks ready-to-drink products throughout mainland China. Goldman Sachs and Wells Fargo both issued upbeat notes on the stock today, saying that the coffee retailer's shares can continue to climb. MAJOR MOVERS: Among the notable gainers was Coronado Biosciences (CNDO), which gained 42% after announcing the formation of a new company, Mustang Therapeutics, focused on Chimeric Antigen Receptor, or CAR-T, technology. The company also announced a licensing agreement with NeuPharma for EGFR inhibitors. Also higher was Guess (GES), which gained 15% after reporting higher than expected profits for its fiscal fourth quarter. Among the noteworthy losers was Transocean (RIG), which fell 6% after having announced last night that four of its 5th generation UDW drillships will be cold stacked and the contract with ENI (E) for the Transocean Amirante was terminated. Transocean also said it intends to scrap four rigs, noting that with those it has announced plans to scrap a total of 16 floaters. Also lower following its earnings report was diversified apparel company Vince Holding (VNCE), which fell 16%. INDEXES: Near midday, the Dow was down 128.51, or 0.71%, to 17,947.68, the Nasdaq was up 3.15, or 0.06%, to 4,985.98, and the S&P 500 was down 13.36, or 0.64%, to 2,086.14.
10:45 EDTSBUXGoldman, Wells see room for Starbucks to rise further from record high
Shares of coffee giant Starbucks (SBUX) hit a new all-time high of $97.69 earlier this morning following the company's investor day meeting yesterday. Goldman Sachs and Wells Fargo both issued upbeat notes on the stock today, saying that the coffee retailer's shares can continue to climb. WHAT'S NEW: The growth of Starbucks' mobile offerings and lunch revenue, along with falling coffee prices, give it the opportunity to beat 2015 and 2016 consensus estimates, Goldman Sachs analyst Karen Holthouse wrote in a note to investors today. The analyst is increasingly confident that Starbucks can meet its guidance for a 5% increase in its comparative sales in both 2015 and 2016, driven by increases in prices, higher food sales, new coffee beverages, and its mobile system. Even after the recent run in the stock, its valuation "remains compelling," according to Holthouse, who raised her price target on the shares to $107 from $98 and kept a Buy rating on the name. After analyzing several recent presentations by Starbucks, Wells Fargo believes that the company has the right strategy to drive sustainable, ongoing growth. The company's many growth initiatives, including the expansion of its mobile payment systems, its tea and food offerings, its delivery initiative, and its packaged good business, should enable its growth to accelerate further, according to the firm. Following its sum-of-the-parts analysis, the firm thinks that investors are underappreciating Starbucks' value and failing to give the company credit for its tea and mobile business in particular. Given continued global volatility, investors will look for stable, consistent growth companies like Starbucks, Wells contended. It raised its price target range on Starbucks shares to $109-$111 from $94-$96 and kept an Outperform rating on the stock. WHAT'S NOTABLE: Yesterday, in conjunction with its meeting, Starbucks reaffirmed its goal to grow its market cap to $100B, unveiled plans for two pilots of delivery services, announced that its board has declared the sixth two-for-one split of the company’s stock since its IPO in 1992 and said it has entered into an agreement for Tingyi to manufacture and expand the distribution of Starbucks ready-to-drink products throughout mainland China. PRICE ACTION: In early trading, Starbucks climbed 1.7% to $97.44.
08:14 EDTSBUXStarbucks shares can go higher, price target to $107 at Goldman
Goldman believes Starbucks shares can move higher despite their recent run and sees upside to 2015/16 consensus estimates driven by opportunities in mobile ordering, falling coffee prices, and positive lunch data-points. The firm believes mobile ordering is a significant growth driver and said investors appear dismissive of the opportunity. Goldman reiterates its Buy rating and raised its price target to $107 from $99 on Starbucks shares.
07:43 EDTSBUXStarbucks shares will continue to outperform, says Wells Fargo
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March 18, 2015
17:18 EDTSBUXStarbucks confirms agreement with Tingyi Holding to expand in China
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14:30 EDTSBUXStarbucks says in pact with Tingyi Holding to expand in China
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13:30 EDTSBUXStarbucks adjusts Q2 EPS view to 32c-33c
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13:29 EDTSBUXStarbucks adjusts FY15 EPS view to $1.55-$1.57
The company revised its FY15 EPS view to $1.55-$1.57 to account for its planned 2-fo-1 stock split. Consensus $3.13 does not compare.
13:25 EDTSBUXStarbucks announces 2-for-1 stock split
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13:21 EDTSBUXStarbucks sees Q2 split adjusted EPS 32c-33c, consensus 65c
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13:19 EDTSBUXStarbucks to begin trading on split adjusted basis on April 9
Comment from Starbucks Annual Meeting of Shareholders.
13:18 EDTSBUXStarbucks reports 2-for1 stock split
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13:06 EDTSBUXStarbucks to open next Roastery location in Asia in 2016
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13:05 EDTSBUXStarbucks to unveil two complementary delivery models
In an effort to integrate service solutions that meet the “on demand” customer, Starbucks will unveil two complementary delivery models including: A strategic collaboration with Postmates, a leading on-demand delivery service, which will allow customers to order their food and beverage items via the Starbucks mobile app and receive on-demand delivery within defined areas. This rapidly growing organization – operating in 22 markets with more than 1.5M deliveries to date – brings robust logistics technology, courier-enabled delivery and quality of service expertise. This Starbucks delivery pilot will begin in Seattle in the second half of 2015; A “Green Apron” barista delivery option enabling customers within specified office-buildings to order food and beverages for convenient delivery by Starbucks baristas. Supported by its world class real-estate capabilities, this model allows Starbucks to identify targeted solutions for environments that can benefit from an integrated service model. This Starbucks delivery test will begin in New York the second half of 2015.
13:04 EDTSBUXStarbucks reaffirms goal to grow market cap to $100B
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12:58 EDTSBUXStarbucks to begin delivery services in NY, Seattle this year, WSJ reports
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08:47 EDTDRIDarden March volatility elevated into Q3 and outlook
Darden March call option implied volatility is at 64, April is at 28, July is at 22; compared to its 26-week average of 24 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on March 20.
March 17, 2015
10:13 EDTSGMSOptions with decreasing implied volatility
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March 16, 2015
10:14 EDTSGMSOptions with decreasing implied volatility
Options with decreasing implied volatility: EXPR ULTA SGMS QIHU BKS PAY URBN AGN AGNC
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