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Stock Market & Financial Investment News

News Breaks
July 22, 2014
11:38 EDTCMG, PNRA, NDLS, FRGIChipotle 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 180–195 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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October 21, 2014
07:27 EDTCMGChipotle pullback a buying opportunity, says Oppenheimer
Oppenheimer recommends using any post-earnings weakness in shares of Chipotle as a buying opportunity. The firm believes investors are concerned over 2015 estimates coming down on food cost pressures. Opco says food cost issues are unlikely to get worse from here and it keeps an Outperform rating on Chipotle with a $775 price target.
07:12 EDTCMGChipotle upside to Q3 estimates low quality, says Wells Fargo
Wells Fargo says that while Chipotle delivered in Q3, greater than expected commodity inflation and labor cost pressure in 2015 will likely lead to lower Street estimates. Wells views the beat in Q3 as low quality since it was driven by a lower than expected tax rate and marketing. The firm expects Chipotle's same-store-sales to decelerate from Q4 of 2014 through Q3 of 2015 due to double-digit traffic comparisons in earlier quarters and less pricing in later quarters. It lowered its price target range for shares to $600-$625 from $650-$675 and keeps a Market Perform rating on the stock.
06:26 EDTCMGStocks with implied volatility above IV index mean; NQ CMG
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October 20, 2014
18:51 EDTCMGOn The Fly: After Hours Movers
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18:42 EDTCMGPrice increases at Chipotle seeing very little resistance
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18:36 EDTCMGChipotle considering Apple Pay support in 2015
Comment was made in Q3 earnings call.
18:32 EDTCMGChipotle will 'opportunistically' repurchase stock to enhance shareholder value
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18:29 EDTCMGChipotle expects opening sales volumes of $1.7M-$1.8M or higher
Comments were made in Q3 earnings call.
18:24 EDTCMGChipotle expects food costs to continue rising into Q4 and throughout 2015
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16:31 EDTCMGChipotle lower by almost 2% after Q3 results, guidance
16:29 EDTCMGChipotle sees FY15 low to mid-single digits comparable restaurant sales gains
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16:05 EDTCMGChipotle says comparable restaurant sales growth driven by traffic
Revenue for the quarter was $1.08B up 31.1% from Q313. The growth in revenue was driven by a 19.8% increase in comparable restaurant sales and from new restaurants not in the comparable base. Comparable restaurant sales growth was driven primarily by increased traffic and from an increase in average check, which includes the benefit of a nationwide menu price increase that was fully rolled out by the end of the second quarter.
16:03 EDTCMGChipotle opened 43 new restaurants in Q3
Total restaurant count now 1.724. Food costs were 34.3% of revenue, an increase of 70 basis points, driven by increased prices for beef, avocados, and dairy, partially offset by the menu price increase. Restaurant level operating margin was 28.8% in the quarter, an increase of 200 basis points from the third quarter of 2013. The increase was primarily driven by favorable sales leverage, partially offset by higher food costs, primarily for beef, avocados and dairy. General and administrative expenses were 6.6% of revenue, an increase of 20 basis points due to costs from our biennial All Managers’ Conference held during the third quarter, partially offset by favorable sales leverage.
16:02 EDTCMGChipotle sees FY14 mid teens comparable restaurant sales increases
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16:01 EDTCMGChipotle reports Q3 EPS $4.15, consensus $3.84
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15:30 EDTCMGNotable companies reporting after market close
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14:49 EDTCMGChipotle October weekly 650 straddle priced for 7.8% move into Q3
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11:35 EDTCMGChipotle technical view ahead of results
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October 16, 2014
10:33 EDTCMGChipotle Mexican Grill October weekly volatility elevated into Q3 and outlook
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October 10, 2014
10:01 EDTNDLS, PNRA, CMGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 2U (TWOU) initiated with an Outperform at Pacific Crest... Bloomin' Brands (BLMN) initiated with an Outperform at BMO Capital... Brinker (EAT) initiated with a Market Perform at BMO Capital... Buffalo Wild Wings (BWLD) initiated with an Outperform at BMO Capital... Chipotle (CMG) initiated with a Market Perform at BMO Capital... Chuy's (CHUY) initiated with a Market Perform at BMO Capital... Darden (DRI) initiated with a Market Perform at BMO Capital... EMC (EMC) initiated with a Buy at Jefferies... EPR Properties (EPR) initiated with a Buy at BofA/Merrill... HP (HPQ) initiated with a Hold at Jefferies... IBM (IBM) initiated with an Underperform at Jefferies... McDermott (MDR) initiated with an In-Line at Imperial Capital... NetApp (NTAP) initiated with a Hold at Jefferies... New Residential (NRZ) initiated with a Neutral at Piper Jaffray... Nimble Storage (NMBL) initiated with a Buy at Jefferies... Noodles & Company (NDLS) initiated with an Outperform at BMO Capital... PDC Energy (PDCE) initiated with an Overweight at Stephens... Panera Bread (PNRA) initiated with a Market Perform at BMO Capital... Pioneer Natural (PXD) initiated with an Outperform at Imperial Capital... Resource America (REXI) initiated with a Buy at MLV & Co.... Rex Energy (REXX) initiated with an Overweight at Stephens... Seagate (STX) initiated with a Buy at Jefferies... Silicon Motion (SIMO) initiated with a Buy at Brean Capital... Texas Roadhouse (TXRH) initiated with a Market Perform at BMO Capital... W.P. Carey (WPC) initiated with a Neutral at BofA/Merrill... Wayfair (W) initiated with a Buy at Janney Capital...Western Digital (WDC) initiated with a Buy at Jefferies... Yelp (YELP) initiated with a Buy at Sterne Agee.
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