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News Breaks
March 21, 2014
08:01 EDTCBRLCracker Barrel mails definitive proxy for special meeting
Cracker Barrel Old Country Store commenced mailing of its proxy statement for the Company's Special Meeting of shareholders to be held on April 23. In a letter to shareholders, Sandra B. Cochran, Cracker Barrel's President and CEO, addressed a number of claims made by Biglari Capital. Ms. Cochran urged shareholders to vote against the proposals brought forward by Biglari Capital for the Board to (1) immediately pursue all potential extraordinary transactions, including the sale of the company, and (2) take any action necessary to amend the Tennessee Business Corporation Act to permit Biglari Capital to engage in an extraordinary transaction with the company. In the letter, Ms. Cochran stated, “The Board unanimously believes that seeking an immediate sale of the company, as advocated by Biglari’s proposal, is not in the best interests of the company’s shareholders in light of current market conditions and the company’s sustained strong performance.” Commenting on the call to amend Tennessee state law, Ms. Cochran said, “…the Board does not have the power to amend Tennessee law. In addition, the Board believes that the interests of all shareholders are best served by the management team continuing to focus on the execution of the company’s current operational and strategic plan, rather than engaging in a time-consuming and potentially expensive lobbying effort.”
News For CBRL From The Last 14 Days
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November 25, 2015
10:04 EDTCBRLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 21Vianet (VNET) downgraded to Neutral from Overweight at JPMorgan... Anglo American (AAUKY) downgraded to Reduce from Hold at HSBC... Boulder Brands (BDBD) downgraded to Market Perform from Outperform at William Blair... Cracker Barrel (CBRL) downgraded to Hold from Buy at Argus... HP Inc. (HPQ) downgraded to Hold from Buy at Needham... PTC Therapeutics (PTCT) downgraded to Underperform from Hold at Jefferies... SunEdison (SUNE) downgraded to Sell from Neutral at UBS... TerraForm Power (TERP) downgraded to Sell from Neutral at UBS... Tiffany (TIF) downgraded to Neutral from Buy at Monness Crespi... Valspar (VAL) downgraded on negative catalysts at RBC Capital... eBay (EBAY) downgraded to Buy from Conviction Buy at Goldman.
07:40 EDTCBRLCracker Barrel downgraded to Hold from Buy at Argus
Argus downgraded Cracker Barrel to Hold following Q1 results citing weak comp-store sales growth as both restaurant comps and overall revenues missed consensus forecasts.
November 24, 2015
11:08 EDTCBRLCracker Barrel management to meet with Guggenheim
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08:04 EDTCBRLCracker Barrel sees Q2 EPS $1.80-$1.90, consensus $2.00
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08:03 EDTCBRLCracker Barrel backs FY16 EPS view $7.15-$7.30, consensus $7.29
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08:01 EDTCBRLCracker Barrel reports Q1 EPS $1.70, consensus $1.59
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06:31 EDTCBRLCracker Barrel volatility flat into Q1 and outlook
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November 23, 2015
15:28 EDTCBRLNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Analog Devices (ADI), consensus 83c... Hormel Foods (HRL), consensus 69c... Dollar Tree (DLTR), consensus 53c... Campbell Soup (CPB), consensus 76c... Signet Jewelers (SIG), consensus 39c... Tiffany (TIF), consensus 75c... Valspar (VAL), consensus $1.31... Patterson Companies (PDCO), consensus 60c... Eaton Vance (EV), consensus 59c...Burlington Stores (BURL), consensus 23c... Cracker Barrel (CBRL), consensus $1.59.
15:03 EDTCBRLCabela's options active on renewed takeover chatter
Cabela December 50 and 55 calls are active on total call volume of 350 contracts (360 puts) on renewed takeover chatter. December call option implied volatility is at 51, January is at 54; compared to its 52-week range of 23 to 53. Active call volume suggests traders taking positions for large price movement.
November 18, 2015
09:03 EDTCBRLCracker Barrel expects to server 1.4M meals during Thanksgiving season
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