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Stock Market & Financial Investment News

News Breaks
July 22, 2014
11:38 EDTNDLS, PNRA, FRGI, CMGChipotle hits 52-week high after beat and raise quarter
Shares of fast casual restaurant operator Chipotle Mexican Grill (CMG) are rallying after the company's second quarter results handily beat analysts' consensus estimates and it raised its fiscal 2014 comparable restaurant sales outlook. WHAT'S NEW: Last night, Chipotle reported Q2 earnings per share of $3.50 and revenue of $1.05B, easily beating analysts' consensus estimates of $3.08 and $988.94M, respectively. Q2 comparable restaurant sales increased 17.3%. WHAT'S NOTABLE: Chipotle raised its FY14 comparable restaurant sales outlook to mid-teens growth from high single digit growth. It forecast 180195 new restaurant openings in 2014. On the company's earnings conference call, management said throughput improved significantly during both lunch and evening hours and they expect that trend to continue for a "long, long time." They see a solid pipeline for potential new sites for this year and beyond, noting that 70% of new stores will be in developed markets. They targeted 30% restaurant operating margin in late 2014 or early 2015, up from about 27% currently. ANALYST REACTION: This morning, analyst commentary was decidedly positive. Five separate firms - Piper Jaffray, Bank of America Merrill Lynch, JP Morgan, RW Baird, and RBC Capital - all raised their respective price targets on Chipotle. Among those, Baird took its target on the stock to the highest level, hiking its target on the stock to $800 from $650. Baird called the company's Q2 results "impressive" and said it remains highly confident in Chipotle's fundamental outlook, robust traffic momentum and long-term growth prospects. The firm keeps an Outperform rating on the shares. PRICE ACTION: In late morning trading, Chipotle rose $72, or about 12%, to nearly $662 per share on nearly twice its average daily trading volume. Earlier in the session, the stock hit a new 52-week high of $663.43. Including today's advance, the stock is up approximately 65% over the past 12 months. OTHERS TO WATCH: Other companies in the fast casual restaurant space include Panera Bread (PNRA), Noodles & Company (NDLS) and Fiesta Restaurant Group (FRGI).
News For CMG;PNRA;NDLS;FRGI From The Last 14 Days
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March 3, 2015
07:09 EDTNDLSBofA/Merrill to hold a conference
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February 20, 2015
16:20 EDTNDLSOn The Fly: Closing Wrap
Stocks on Wall Street opened in negative territory with time running out for Greece to reach an extension of its bailout agreement. The morning was filled with headlines from both Greek and eurozone finance leaders, many of which indicated that prospects for a deal looked grim. When reports surfaced that an agreement on an extension had been reached the Dow took off and hit its first new high of 2015. The S&P 500 followed to its own new high and the Nasdaq continued to close in on the 5,000 level. ECONOMIC EVENTS: In the U.S., Markit's flash PMI rose to 54.3 in February, versus the consensus forecast for a preliminary reading of 53.6 for the month. In Europe, the Eurogroup and Greece reached a tentative deal for an extension of the current EFSF Master Financial Assistance Facility Agreement for up to four months. The deal is predicated on Greek authorities presenting a first list of reform measures, based on the current arrangement, by the end of Monday. Also, the Eurozone flash composite PMI came in at 53.5, versus expectations for a reading of 53. The services PMI was better than expected, while the manufacturing PMI was lower than expected. COMPANY NEWS: Deere reported Q1 earnings per share of $1.12 and revenue of $6.38B, which beat consensus forecasts of 84c and $5.59B, respectively. However, Deere said company equipment sales are projected to decrease about 17% for fiscal 2015 and now sees net income to be about $1.8B, which is down from the company's prior net income outlook of $1.9B. Analysts at Wells Fargo calculate that the implied EPS guidance from Deere dropped to $5.25 from $5.50. Consensus for FY15 EPS prior to Deere's report was $5.51. Shares of the farm, construction and forestry equipment maker rose 72c, or 0.79%, to $92.43 following this morning's report. MAJOR MOVERS: Among the notable gainers was National Bank of Greece (NBG), whose shares trading in New York jumped 35c, or 21.74%, to $1.96 after the Greek aid extension deal was negotiated. Also higher was Springleaf (LEAF), which gained $4.40, or 12.88%, to $38.57 after Reuters reported that the company has beaten out rival bidders and is in advanced talks to buy consumer finance unit OneMain Financial from Citigroup (C) for more than $4B. Two stock that dropped after their earnings reports prompted multiple analyst downgrades were Noodles & Company (NDLS), which plunged $8.84, or 31.87%, to $18.90, and Rocket Fuel (FUEL), which fell $3.95, or 26.74%, to $10.82. INDEXES: The Dow rose 154.67, or 0.86%, to 18,140.44, the Nasdaq gained 31.27, or 0.63%, to 4,955.97, and the S&P 500 advanced 12.85, or 0.61%, to 2,110.30.
12:49 EDTNDLSOn The Fly: Midday Wrap
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10:20 EDTFRGI, NDLSHigh option volume stocks
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10:03 EDTNDLSNoodles & Company tumbles after earnings, downgrades, levels to watch
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10:01 EDTNDLS, FRGIOn The Fly: Analyst Downgrade Summary
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07:28 EDTNDLSNoodles & Company pullback a buying opportunity, says Jefferies
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06:26 EDTFRGIFiesta Restaurant downgraded to Outperform from Strong Buy at Raymond James
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06:21 EDTNDLSNoodles & Company downgraded to Neutral from Buy at Janney Capital
Janney Capital downgraded Noodles & Company to Neutral following the disappointing Q4 reprot and outlook. Note that Baird also downgraded shares this morning.
06:02 EDTNDLSNoodles & Company downgraded to Neutral from Outperform at RW Baird
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February 19, 2015
18:19 EDTNDLSOn The Fly: After Hours Movers
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16:05 EDTNDLSNoodles & Company sees 2015 adjusted EPS growth 20%
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16:04 EDTNDLSNoodles & Company reports Q4 adjusted EPS 13c, consensus 14c
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16:03 EDTFRGIFiesta Restaurant reports Q4 adjusted EPS 34c, consensus 31c
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06:18 EDTNDLSNoodles & Company February volatility elevated into Q4 and outlook
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