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Stock Market & Financial Investment News

News Breaks
January 31, 2014
10:20 EDTJACK, CHUY, YUM, FRGI, CMGChipotle hits new 52-week high after raising same store sales outlook
Shares of casual Mexican restaurant operator Chipotle Mexican Grill (CMG) hit a new 52-week high after posting strong fourth quarter comparable store sales and raising its sales guidance for 2014. WHAT'S NEW: Last night, Chipotle reported Q4 EPS of $2.53 and revenue of $844.1M against consensus views of $2.53 and $826.3M respectively. The company reported Q4 comparable restaurant sales increased 9.3%. The company raised its 2014 comparable sales growth view to low to mid-single digits from low single digits, citing strong sales momentum from Q4. ANALYST REACTON: This morning, two firms, RBC Capital and Bernstein, raised their respective price targets on Chipotle. RBC Capital raised their price target to $650 from $620. The firm thought the company’s brand momentum remains strong and kept an Outperform rating on the shares. Bernstein raised their price target to $640 from $600 and raised its FY14 EPS estimate for the company to $13.48 from $13.34. Bernstein kept an Outperform rating on the shares. PRICE ACTION: In early morning trading, Chipotle rose over 13% to $561.57 on heavy volume. Earlier in the session, the stock made a new 52-week high of $564.75 and has gained approximately 82% over the past twelve months. OTHERS TO WATCH: Chipotle’s competitors include Yum! Brands' Taco Bell unit (YUM), Jack in the Box' (JACK) Qdoba unit, Fiesta Restaurant Group (FRGI), and Chuy’s (CHUY).
News For CMG;YUM;JACK;FRGI;CHUY From The Last 14 Days
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September 1, 2015
09:02 EDTCMGChipotle announces partnership with Tapingo
Chipotle Mexican Grill announced a new partnership with Tapingo, a mobile commerce app that saves college students time by providing food pickup and delivery, Chipotle will be available for delivery through Tapingo at 40 college campuses nationwide this fall, and at more than 100 campuses by spring 2016.
August 31, 2015
18:14 EDTCMGChipotle accused of false advertising over GMO-free menu claims, Reuters says
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August 27, 2015
18:16 EDTYUMLabor Relations Board revises joint employer policy
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August 24, 2015
09:03 EDTCMGChipotle price target raised to $740 from $620 at Wedbush
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09:00 EDTCMGChipotle to hire 4,000 people on a single day on September 9
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06:36 EDTCMGChipotle to hire 4,000 employees in one day next month, WSJ reports
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August 19, 2015
16:58 EDTYUMOn The Fly: Top stock stories for Wednesday
The market opened deep in negative territory after a tumultuous trading session in China and a softer than expected U.S. consumer prices report. Sellers continued to push the averages lower throughout the morning, with the Dow tacking on losses of more than 200 points as investors waited for the release of the Fed minutes. The market rallied following an early leak of the minutes, which suggested officials are getting closer to raising rates but appear to be waiting for additional data. Despite the afternoon rally, the averages sold off once again heading into the close, leaving all three indices in the negatives for Wednesday. ECONOMIC EVENTS: In the U.S., the July consumer price index edged up 0.1% against expectations for 0.2% reading. The core reading, which excludes food and energy, also came in at 0.1% versus consensus estimates of 0.2%. There were no revisions to the 0.3% headline gain in June or the 0.2% growth in the ex-food and energy component. Component gains were muted across the board, with Energy prices up just 0.1% in July. Meanwhile, FOMC minutes showed no definitive indication of a September rate hike. Most committee members "judged that the conditions for policy firming had not yet been achieved, but they noted that conditions were approaching that point." Other members, however, believed that the inflation outlook "might not soon meet one of the conditions... for initiating a firming of policy." COMPANY NEWS: Shares of Dot Hill Systems (HILL) soared $4.50, or 86.87%, to $9.68 after Seagate Technology (STX) agreed to acquire the company for $9.75 per share, noting that it expects the deal to be non-GAAP EPS accretive in fiscal 2016. Shares of the hard drive giant fell 5.03% to $49.43 for the session... Lowe's (LOW) shares saw gains of $1.34, or 1.84%, to $74.36 following the company's earnings report this morning, while Target (TGT) rose $59c, or 0.73%, to $80.89 after beating on both top and bottom lines. On a subsequent conference call, Target executives forecast a "choppy" competitive environment in Q3, though they added that the company "will not get beat" on promotions in Q4. Separately, American Eagle (AEO) lost 7.42% to $16.92 after its quarterly numbers. MAJOR MOVERS: Among the notable gainers were Palatin (PTN) and Apricus (APRI), showing respective advances of 3.19% and 7.89% after the FDA approved Sprout's female sexual dysfunction drug Addyi, with the agency remarking that it "continues to encourage drug development in this area." Note that both Palatin and Apricus are developing their own treatments in the space, and Apricus reaffirmed this morning its intent to seek a global partner as it advances its Femprox sexual dysfunction medication. Also higher was Yum! Brands (YUM), which gained $1.90, or 2.26%, to $86.10 after appointing a new CEO of its China division, adding that its same-store sales in the region "have turned significantly positive." Among the noteworthy losers was Rayonier Advanced Materials (RYAM), plunging $6.01, or 44.09%, to $7.62 after disclosing a legal battle with its customer Eastman Chemical (EMN) over "meet or release" contract stipulations which may impact Eastman's purchase obligations. Also lower was Caesarstone (CSTE), which lost $3.43, or 7.14%, to $44.61 after short-selling hedge fund Spruce Point said the stock has up to 75% downside due to heightened raw material costs and competitive concerns, among other factors. Separately, EOG Resources (EOG), Baytex Energy (BTE), and Vanguard Natural (VNR) saw respective losses of 4.15%, 15.53%, and 13.83% after WTI crude fell 5.02% for the session. INDEXES: The Dow declined 162.61, or 0.93%, to 17,348.73, the Nasdaq fell 40.30, or 0.80%, to 5,019.05, and the S&P 500 lost 17.31, or 0.83%, to 2,079.61.
13:23 EDTYUMOptions with increasing call volume
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10:23 EDTYUMYum! gets a boost from China CEO change, sales commentary
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10:00 EDTCMGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Biocept (BIOC) initiated with a Buy at H.C. Wainwright... C.H. Robinson (CHRW) initiated with a Buy at Evercore ISI... Chipotle (CMG) initiated with a Hold at Maxim... Con-way (CNW) initiated with a Buy at Evercore ISI... Dermira (DERM) initiated with an Outperform at Cowen... Expeditors (EXPD) initiated with a Hold at Evercore ISI... Fleetmatics (FLTX) initiated with an In-Line at Imperial Capital... Frontier Communications (FTR) initiated with an Overweight at Stephens... Gevo (GEVO) initiated with a Buy at Rodman & Renshaw... International Game (IGT) initiated with a Sell at Goldman... Knight Transportation (KNX) initiated with a Buy at Evercore ISI... Logitech (LOGI) initiated with a Buy at Rosenblatt... Navistar (NAV) initiated with a Neutral at Macquarie... Panera Bread (PNRA) initiated with a Hold at Maxim... Scientific Games (SGMS) initiated with a Sell at Goldman... Swift Transport (SWFT) initiated with a Hold at Evercore ISI... Tribune Media (TRCO) initiated with an Equal Weight at Morgan Stanley... WEX Inc. (WEX) initiated with an Equal Weight at Barclays... Zoe's Kitchen (ZOES) initiated with a Buy at Maxim.
09:19 EDTYUMYum! Brands leadership change positive, says Bernstein
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August 18, 2015
18:52 EDTCMGChipotle initiated with a Hold at Maxim
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18:32 EDTYUMOn The Fly: After Hours Movers
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16:34 EDTYUMYum! Brands appoints Micky Pant CEO of China Division
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06:16 EDTCMGFast food chains making new push with more fresh ingredients, WSJ says
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