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Stock Market & Financial Investment News

News Breaks
January 11, 2013
10:25 EDTWEN, WEN, WEN, SONC, SONC, SONC, SBUX, SBUX, SBUX, RT, RT, RT, RRGB, RRGB, RRGB, PNRA, PNRA, PNRA, MCD, MCD, MCD, DRI, DRI, DRI, DPZ, DPZ, DPZ, DNKN, DNKN, DNKN, CMG, CMG, CMG, CAKE, CAKE, CAKEBofA/Merrill's restaurant analyst holds an analyst/industry conference call
Restaurants Analyst Research Team, along with restaurant industry consultant, Malcolm M. Knapp, provides an industry update and outlook on an Analyst/Industry conference call to be held on January 14 at 11 am.
News For CAKE;CMG;DNKN;DPZ;DRI;MCD;PNRA;RRGB;RT;SBUX;SONC;WEN From The Last 14 Days
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August 8, 2014
09:15 EDTMCDOn The Fly: Pre-market Movers
HIGHER: NVIDIA (NVDA), up 4.2%, upgraded at Needham following its better than expected Q2 results... Arista Networks (ANET), up 8%, upgraded at Citigroup following better than expected Q2 results, announcing an expanded strategic relationship with VMware (VMW)... Tekmira Pharmaceuticals (TKMR), up 17.5% after announcing that the FDA verbally confirmed they have modified the full clinical hold placed on its TKM-Ebola treatment to a partial clinical hold... Gap (GPS), up 4.7% after July same-store sales rose 2%, company issues Q2 EPS outlook above the consensus estimate... lululemon (LULU), up 2.4% after founder agrees to sell half his stake to Advent for $845M. UP AFTER EARNINGS: SolarCity (SCTY), up 1%... Assured Guaranty (AGO), up 9%... MercadoLibre (MELI), up 13.6%. LOWER: Zynga (ZNGA), down 6% after lowering fiscal 2014 guidance... McDonald's (MCD), down 0.4% after Chinese supplier issue contributes to July comparable sales drop of 2.5%.
08:34 EDTMCDMcDonald's warns 2014 comparable sales forecast at risk due to China issue
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08:02 EDTMCDMcDonald's: AMPEA's sales reflect negative impact of food quality issues
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07:58 EDTMCDMcDonald's rejports July global comparable sales down 2.5%
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07:41 EDTCMGChipotle downgraded at Longbow
As previously reported, Longbow downgraded Chipotle to Neutral from Buy. The firm downgraded shares based on valuation.
06:50 EDTCMGChipotle downgraded to Neutral from Buy at Longbow
06:11 EDTMCD, SBUXOSI withdraws products made in Shanghai in response to food scandal
After dealing with a food scandal, OSI China, parent company of Shanghai Husi Food, announced the withdrawal of products produced in Shanghai. The company said, "Husi is the subject of company and government investigations and it is proceeding smoothly. While there have been no reported illnesses linked to any Shanghai Husi products, recovering this production is an important step in facilitating the investigations and rebuilding the respect and trust of our customers, the government and the people of China. With assistances and guidance provided by Shanghai FDA, we have started the recovery process of products in question in a comprehensive and orderly." Worldwide brands such Yum! Brands (YUM) McDonald's (MCD) and Starbucks (SBUX) were affected by the scandal in China. Reference Link
August 7, 2014
17:01 EDTSONCSonic initiates 9c cash dividend, authorizes $105M share buyback program
Sonic Corp announced that its board initiated a cash dividend program under which the company will pay a regular quarterly cash dividend to shareholders of its common stock. The board declared the first quarterly cash dividend of 9c per share of common stock to be paid to shareholders of record as of the close of business on November 12, with a payment date of November 21. The company also announced that its board has increased the company’s share repurchase program for FY15. Pursuant to the program, the company is authorized to repurchase up to $105M of its common stock for the fiscal year beginning September 1 and ending August 31, 2015. The company expects to complete the remaining purchases under its $80M FY14 program by August 31.
09:37 EDTWENWendy's sees remodeling 60% of Canadian stores by 2020
Says expects investors to see a modest impact on total company margins post sale of Canadian restaurants. Says there has been increasing beef inflation since Q4 and says price increases are due to beef inflation.
09:24 EDTWENWendy's sees 2% commodity cost this year
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09:08 EDTWENWendy's reaffirms long-term target for adjusted EPS growth in mid-teens
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07:09 EDTWENWendy's to sell all company-owned operated restaurants in Canada
The company plans to sell approximately 135 Company-operated restaurants in Canada to new and existing franchise operators. The company is targeting the end of the first quarter of 2015 for the completion of these transactions. The Company plans to retain its ownership of TimWen Partnership, its Canadian restaurant real estate joint venture with Tim Hortons (THI). Brolick said selling 100 percent of the Company's operations in Canada to franchisees will create a strong platform for future growth. The Company intends to prioritize the sale of its Canadian restaurants to well-capitalized new and existing franchisees with a demonstrated history of operational excellence and a stated commitment to implement the Company's Image Activation restaurant development and reimaging strategy. The Company expects the following benefits to offset the annualized decrease in revenue resulting from the sale of its Canadian restaurants: Reduced annualized general and administrative expense of approximately $8 million relative to the Company's 2014 estimated G&A expense of approximately $275 million. It also sees higher cash flow, due to the expected increase in rent and royalty revenue, as well as lower ongoing capital expenditures. The Company anticipates the sale of its Canadian restaurants to reduce Adjusted EBITDA by as much as $5 million in 2015, resulting in expected Adjusted EBITDA growth in the mid-to-high single-digit range in 2015. The Company expects the transactions to be neutral to Adjusted EBITDA in 2016 and accretive to Adjusted EBITDA in 2017 and thereafter. The Company expects the transactions to be neutral to net income in 2015 and slightly accretive to net income thereafter.
07:07 EDTWENWendy's board authorizes new share repurchase program for up to $100M
The Company also announced that its Board of Directors authorized a new share repurchase program for up to $100 million of the Company's common stock through the end of 2015. The common stock repurchase program will allow the Company to make repurchases as market conditions warrant and to the extent legally permissible.
07:07 EDTWENWendy's sees FY15 adjusted EPS growth in mid-teens, consensus 39c
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07:06 EDTWENWendy's sees Q3 same-restaurant sales growth less than low end of 2.5%-3.5%
The company said, "We anticipate a significant year-over-year increase in temporary restaurant closures related to our Image Activation program during the third quarter, when we expect reimaging activity to reach the 2014 peak," Brolick added. "Due to the impact of these restaurant closures, we expect year-over-year third-quarter Adjusted EBITDA to be approximately flat. However, we also expect to generate a significant year-over-year increase in Adjusted EBITDA in the fourth quarter of this year, when we anticipate realizing the benefit of this accelerated activity."
07:05 EDTWENWendy's 'remains confident' in company's long term outlook
The company specifically cites its Image Activation strategy driving top-line growth in the core business.
07:05 EDTWENWendy's backs FY14 adjusted EPS 34c-35c, consensus 35c
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07:03 EDTWENWendy's reports Q2 company-owned restaurants SSS up 3.9%
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07:03 EDTWENWendy's reports Q2 adjusted EPS 9c, consensus 10c
Reports Q2 revenue $523.43M, consensus $518.11M
06:06 EDTCMGStocks with implied volatility below IV index mean; TWX CMG
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