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Stock Market & Financial Investment News

News Breaks
October 11, 2012
10:55 EDTYUM, YUM, YUM, WEN, WEN, WEN, THI, THI, THI, SONC, SONC, SONC, SBUX, SBUX, SBUX, RT, RT, RT, RRGB, RRGB, RRGB, PNRA, PNRA, PNRA, MCD, MCD, MCD, JACK, JACK, JACK, EAT, EAT, EAT, DRI, DRI, DRI, DPZ, DPZ, DPZ, DNKN, DNKN, DNKN, CMG, CMG, CMG, CBRL, CBRL, CBRL, CAKE, CAKE, CAKEBofA/Merrill's restaurant analyst holds an analyst/industry conference call
Restaurants Analyst Buckley, along with industry consultant Malcolm Knapp, discuss Mr. Knapp's views of the current consumer environment, as well as his outlook for restaurants, on an Analyst/Industry conference call. Relevant covered companies CAKE, CBRL, CMG, DNKN, DPZ, DRI, EAT, JACK, MCD, PNRA, RRGB, RT, SBUX, SONC, THI, WEN and YUM may be included on the Analyst/Industry conference call to be held on October 15 at 11 am.
News For CAKE;CBRL;CMG;DNKN;DPZ;DRI;EAT;JACK;MCD;PNRA;RRGB;RT;SBUX;SONC;THI;WEN;YUM From The Last 14 Days
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August 14, 2014
13:57 EDTRRGBRed Robin pullback a buying opportunity, says KeyBanc
KeyBanc views the post-earnings pullback in shares of Red Robin as a buying opportunity say its long-term thesis remains intact. Red Robin shares were just downgraded to Neutral at Longbow.
13:28 EDTRRGBRed Robin downgraded to Neutral from Buy at Longbow
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12:30 EDTRRGBOn The Fly: Midday Wrap
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11:40 EDTRRGBRed Robin, Noodles & Company crumble after earnings misses
Shares of casual dining companies Red Robin Gourmet Burgers (RRGB) and Noodles & Company (NDLS) are crumbling after both reported lower than anticipated second quarter results and projected modest outlooks for the rest of 2014. RED ROBIN: Red Robin's reported adjusted earnings per share of 68c for Q2, while analysts' had a consensus forecast of 90c. The company's Q2 revenue was $256.1M, which fell below analysts' consensus of $263.27M. Comparable restaurant revenue increased 1.2% for the quarter. The company's CEO Steve Carley said that Red Robin remains cautious in the near term but is confident in the initiatives it has in place to generate long-term value. The franchise sees FY14 comparable restaurant growth in the low single digits. The company also plans to remodel at least 65 Red Robin restaurants as part of its brand transformation initiative as well as expand patio seating in a few locations. During the company's conference call, Red Robin said that it is "cautiously optimistic" regarding its FY14 expectations. The franchise said it was disappointed in its Q2 results and noted that its market strategy fell short. Red Robin anticipates that the macro-environment will not provide any lift for the company in the immediate future. The franchise sees revenues in remodeled restaurants to continue to build later this fall and foresees "somewhat strong" comp revenue growth in Q4. Red Robin said it sees Q3 EPS growth to be about flat. NOODLES & COMPANY: Another casual dining franchise, Noodles & Company, reported lower than expected earnings and cut its 2014 outlook in response to industry trends. The company's Q2 adjusted EPS of 12c fell below analysts' 15c consensus. The company's Q2 revenue was $99.5M, which was lower than analysts' consensus of $102.9M. Comparable restaurant sales, when adjusted for the Easter holiday shift, increased 0.3% for company-owned restaurants and 0.2% system-wide. In regards to guidance, Noodles & Company lowered its FY14 adjusted EPS view to flat with prior year. The company's Chairman and CEO Kevin Reddy said, "We are seeing modest top line momentum and are making the right investments for the business long-term. However, given results during the first half of the year, we believe it is judicious to temper our 2014 outlook relative to prior expectations." PRICE ACTION: During late morning trading, shares of Red Robin fell $13.72, or 21.25% to $ 50.83, while Noodles & Company dropped $5.27, or 21% to $19.94.
10:53 EDTRRGBHigh option volume stocks
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10:33 EDTRRGBRed Robin sees Q3 EPS growth plus or minus flat
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10:23 EDTRRGBRed Robin 'cautiously optimistic' about FY14 expectations
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09:59 EDTRRGBRed Robin says 32 acquired restaurants to add $44M of revenues in FY14
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09:47 EDTRRGBRed Robin falls sharply, levels to watch
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08:36 EDTRRGBRed Robin sees FY14 comparable restaurant revenue growth in low single digits
The Company plans to open 20 new Red Robin restaurants and four to five Red Robin Burger Works resulting in operating week growth of approximately 6.5% for fiscal year 2014. The newly acquired restaurants are expected to add revenues of $44 million in the second half of 2014 and will reduce franchise royalties by approximately $1.5 million. Capital investments in fiscal year 2014 are expected to exceed $100 million, excluding approximately $51 million related to acquisitions. In addition to the new restaurant openings, the Company also plans to remodel at least 65 Red Robin restaurants as part of its brand transformation initiative as well as expand patio seating in a few locations. Restaurant-level operating profit margins in fiscal year 2014 are expected to be approximately 21.3%. General and administrative costs are expected to be approximately $94 million, while selling expenses are expected to be approximately 3.2% of sales considering increased gift card sales. Interest expense is expected to be approximately $3 million while the income tax rate in fiscal year 2014 is expected to be approximately 26%. The sensitivity of the Company’s earnings per diluted share to a 1% change in guest counts for fiscal year 2014 is estimated to be $0.30 on an annualized basis. Additionally, a 10 basis point change in restaurant-level operating margin is expected to impact earnings per diluted share by approximately $0.07, and a change of approximately $200,000 in pre-tax income or expense is equivalent to approximately $0.01 per diluted share.
08:34 EDTRRGBRed Robin reports Q2 adjusted EPS 68c, may not compare to consensus 90c
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August 13, 2014
15:17 EDTRRGBRed Robin technical comments ahead of earnings
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15:05 EDTRRGBNotable companies reporting before tomorrow's open
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August 12, 2014
15:22 EDTDPZDomino's Pizza CEO says commodity cost increase still in forecast range
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12:34 EDTSBUXStarbucks lost some packaged coffee share, says Wells Fargo
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August 11, 2014
11:33 EDTMCDWorkday rises after reportedly winning record deal with McDonald's
Shares of cloud-based human capital management solution provider Workday (WDAY) are rising after the company is said to have won a deal with global fast food giant McDonald's (MCD) that would be the biggest in its history. WHAT'S NEW: JMP Securities analysts Patrick Walravens and Peter Lowry wrote in a note to investors this morning that the firm's checks indicate that Workday was awarded the human capital management business at McDonald’s, which the analysts said could be the biggest deal in the company’s history. The firm increased its estimate for Workday's Q2 billings to $185M from $182M, noting that both are above the company's guidance of $180M in billing for Q2. JMP maintains its Market Outperform rating and $126 price target on Workday, but the analysts noted that they like the stock over the longer-term, citing its market leading position in the Software-as-a-Service Enterprise Resource Planning space, which is set to triple from 2013 to 2020. PRICE ACTION: In late morning trading, shares of Workday gained $2.43, or 2.9%, to $86.34.
08:37 EDTDRIDarden initiates accelerated stock buyback program
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08:35 EDTDRIDarden backs FY adjusted EPS $2.22-$2.30, consensus $2.25
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06:49 EDTMCDWorkday won human capital business at McDonald's, says JMP Securities
JMP Securities says its due diligence indicates Workday (WDAY) won the human capital management business at McDonald's (MCD). JMP believes the contract could be the biggest deal in Workday's history and it raised its Q2 billings estimate to $185M from $182M. The firm keeps an Outperform rating on Workday with a $126 price target.
06:46 EDTYUM Yum! Brands shares remain attractive, says Bernstein
Bernstein expects Yum! Brands' China comp estimates to recover and does not view the brand as permanently impaired. The believes shares are attractive and sees potential upside from re-franchising or a breakup. The firm rates Yum! an Outperform with an $87 price target.
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