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Stock Market & Financial Investment News

News Breaks
July 22, 2014
11:38 EDTPNRA, FRGI, CMG, NDLSChipotle 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 180Ė195 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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November 26, 2014
12:05 EDTFRGIFiesta Restaurant management to meet with Piper Jaffray
Meeting to be held in New York/Baltimore on December 3 hosted by Piper Jaffray.
November 25, 2014
06:02 EDTNDLSNoodles & Company initiated with a Buy at Janney Capital
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November 24, 2014
16:39 EDTPNRAPanera Bread Chief Marketing Officer Michael Simon resigns
Panera Bread disclosed in a filing that on November 20, Michael Simon, Executive Vice President and Chief Marketing Officer of Panera Bread and a named executive officer of the company, tendered his resignation to the company, effective December 31. Simonís decision to resign was based on his acceptance of a senior leadership position with Bai Brands, an early stage, health-oriented retail beverage company. Chris Hollander, the companyís Vice President, Marketing, since March 2010, will serve as interim Chief Marketing Officer while we conduct an internal and external search for Simonís replacement.
November 18, 2014
07:30 EDTNDLSMorgan Stanley to hold a conference
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