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Stock Market & Financial Investment News

News Breaks
January 16, 2013
11:30 EDTCMGChipotle falls after weaker than expected earnings guidance
Shares of quick service restaurant operator Chipotle Mexican Grill (CMG) are lower after the company issued weaker than expected Q4 earnings guidance earlier this morning. The company forecast Q4 EPS of $1.92-$1.97, versus consensus of $2.09, and guided Q4 revenue to $699.2M, versus consensus of $690.86M. Monty Moran, co-CEO, cited a faster than expected rise in food costs in Q4, but said food inflation should level off in 2013. Following the disappointing guidance, research firm Jefferies said it expected the shares to be down meaningfully, adding that Chipotle's 2013 earnings could be significantly below consensus. Jefferies maintained an Underperform rating on the stock with a $215 price target. On a positive note, William Blair said in a note to investors this morning that Chipotle's comparable store results will likely bottom in Q1 before moving higher. William Blair viewed Chipotle's business as healthy and said they would be opportunistic buyers on any share weakness. The firm maintained an Outperform rating on the stock. RW Baird was positive on Chipotle as well, also saying any weakness represented a buying opportunity. The stock initially gapped down over 10% at the open, but has since recovered and is trading lower by about 6% to $279.31 in late morning trade. The Fly notes that volume is very heavy, with nearly 1.8M shares exchanging hands in morning action, more than twice the average daily volume.
News For CMG From The Last 14 Days
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July 22, 2014
10:48 EDTCMGOptions with decreasing implied volatility
Options with decreasing implied volatility: IGT YHOO LYK ATHN CMG SWKS NFLX SHPG SNDK MTG
09:36 EDTCMGActive equity options trading on open
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09:08 EDTCMGOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Chipotle (CMG), up 10.7%... Crocs (CROX), up 5%... Lockheed Martin (LMT), up 1.4%. ALSO HIGHER: GreenHunter Resources (GRH), up 10.3% after announcing intent to form MLP... TG Therapeutics (TGTX), up 9.5% after reporting Q2 results, preclinical study results, price target on shares raised to $19 from $13 at Brean Capital... FuelCell (FCEL), up 5.4% after announcing German government support, EUR 4.9M in research awards... Apache (APA), up 5.2% after Bloomberg says activist investor JANA Partners disclosed $1B position in the stock. DOWN AFTER EARNINGS: Harley-Davidson (HOG), down 4.1%... Travelers (TRV), down 3.4%... McDonald's (MCD), down 2.3%... Coca-Cola (KO), down 2.5%. ALSO LOWER: Amazon.com (AMZN), down 1% following downgrade to Neutral rating at Citigroup.
08:19 EDTCMGChipotle price target raised to $730 from $680 at RBC Capital
RBC Capital increased its price target on Chipotle after the company reported stronger than expected results and said its comp restaurant sales had surged 17%. The firm expects the company to generate "outsized" EPS growth through 1H15. It keeps an Outperform rating.
07:57 EDTCMGChipotle price target raised to $800 from $650 at RW Baird
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07:56 EDTCMGChipotle price target raised to $670 from $575 at JPMorgan
JPMorgan raised its price target for Chipotle shares to $670 citing the company's comp acceleration following its better than expected Q2 results. The firm keeps an Overweight rating on the stock.
07:36 EDTCMGChipotle price target raised to $750 from $640 at BofA/Merrill
BofA/Merrill raised Chipotle's price target to $750 following the strong Q2 report and reiterates its Buy rating.
06:44 EDTCMGChipotle price target raised to $740 from $610 at Piper Jaffray
Piper Jaffray raised its price target for Chipotle shares to $740 following the company's better than expected Q2 results. Piper says it is encouraged that Chipotle's same-store-sales strength has continued into the Q3 period to date. It reiterates an Overweight rating on the stock.
July 21, 2014
18:40 EDTCMGOn The Fly: After Hours Movers
UP AFTER EARNINGS: Netflix (NFLX), up marginally after reporting Q2 results... Sanmina (SANM), up 13.2% after reporting third quarter results and fourth quarter guidance above analyst estimates... Chipotle (CMG), up 10.1%... Helix (HLX), up 5.2%... Canadian National (CNI), up 1.13%... CYS Investments (CYS), up 1.7%. ALSO HIGHER: Apache (APA), up 5% after Bloomberg says JANA discloses $1B position... Johnson & Johnson (JNJ), up 1% after announcing a $5B share repurchase program... TG Therapeutics (TGTX), up 4.3% after reporting second quarter results and preliminary clinical results from TG-1101 Phase I study... DOWN AFTER EARNINGS: Rambus (RMBS), down 3.6% after reporting second quarter results... Ultra Clean (UCTT), down 4% after reporting quarterly results. ALSO LOWER: Tallgrass Energy (TEP), down 5% after filing to sell 7M common units representing limited partners.
17:33 EDTCMGChipotle says 'doing better' with teen market
Says has not seen a huge increase in frequency from core audience. Expects to improve throughput for a "long, long time." Says targeting 30% restaurant operating margin in late 2014, early 2015. Comments from Q2 earnings conference call.
17:02 EDTCMGChipotle says throughput improved significantly during Q2
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16:09 EDTCMGChipotle up over 7% after better than expected Q2 results
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16:05 EDTCMGChipotle co-CEO says Q2 one of strongest sales comps as a public company
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16:04 EDTCMGChipotle opened 45 new restaurants in Q2
Total restaurant count now 1,681. Restaurant level operating margin was 27.3% in the quarter, a decrease of 30 basis points from the second quarter of 2013. The decrease was primarily driven by higher food and marketing costs, partially offset by favorable sales leverage in labor and occupancy costs. G & A costs were 7.1% of revenue, an increase of 90 basis points due to higher stock compensation and bonus expenses, partially offset by favorable sales leverage.
16:03 EDTCMGChipotle sees FY14 mid-teens comparable restaurant sales increases
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16:02 EDTCMGChipotle reports Q2 EPS $3.50, consensus $3.08
Reports Q2 revenue $1.05B, consensus $988.94M. Comparable restaurant sales increased 17.3%.
15:30 EDTCMGNotable companies reporting after market close
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15:11 EDTCMGChipotle July weekly 590 straddle priced for 7.3% move into Q2
11:37 EDTCMGChipotle technical view ahead of earnings
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July 18, 2014
09:45 EDTCMGChipotle Q2 estimate lowered, 2014, 2015 estimates raised at Janney Capital
Janney Capital lowered its Q2 EPS estimate on Chipotle ahead of the company's report Monday, citing a prior G&A expense estimate that the firm now views as too low. However, Janney raised its 2014 and 2015 EPS estimates for Chipotle and increased its fair value estimate on the stock $700. The firm maintains its Buy rating on the shares.
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