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June 17, 2014
12:29 EDTDPZ, NUAN, PZZADomino's, Papa John's diverge after analysts differ on pizza makers
Shares of two pizza chains, Domino's Pizza (DPZ) and Papa John's (PZZA), are moving in opposite directions after Bank of America Merrill Lynch downgraded the first and KeyBanc was upbeat on the second. WHAT'S NEW: Bank of America Merrill Lynch analyst Joseph Buckley downgraded Domino's Pizza to Underperform from Neutral in a note to investors earlier today. Domino's is trading at a valuation that is about 15% higher than the average level of its peers, Buckley estimated. However, the company's 2014 free cash flow yield is 3.7%, significantly below the peer average of 4.3%, Buckley stated. Moreover, the pizza space remains highly competitive, warned the analyst, who cut his price target on the shares to $68 from $77. Conversely, KeyBanc was upbeat on Papa John's, as the firm raised its second quarter estimates for the company above consensus levels after performing channel checks. Papa John's same-store sales momentum has continued this quarter, as it is benefiting from higher average ticket and transaction gains, KeyBanc believes. Papa John's should also benefit from lower than expected cheese prices, market share gains in the U.S., and higher overseas profits, according to the firm, which kept a $53 price target and reiterated a Buy rating on the shares. WHAT'S NOTABLE: Domino's yesterday announced that it was launching a mobile app that will enable consumers to order pizzas with voice commands. Domino's developed the app in conjunction with Nuance Communications (NUAN), which develops voice technology solutions. PRICE ACTION: In early afternoon trading, Domino's Pizza fell 1.5% to trade near $71 and Papa John's rose 0.7% to $42.61.
News For DPZ;PZZA;NUAN From The Last 14 Days
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April 24, 2015
14:17 EDTNUANNuance June and July calls active into Q2 and outlook
Nuance June 16, July 16 calls are active on total call volume of 21K contracts (5K puts). May call option implied volatility of 43, June is at 36, July is at 32, October is at 30; compared to its 26-week average of 33 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on May 7.
10:11 EDTNUANHigh option volume stocks
April 23, 2015
09:18 EDTDPZOn The Fly: Pre-market Movers
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07:36 EDTDPZDomino's Pizza reports Q1 domestic SSS up 14.5%
Reports Q1 international SSS up 7.8%. The company had global net store growth of 110 stores in the first quarter of 2015.
07:35 EDTDPZDomino's Pizza reports Q1 adjusted EPS 81c, consensus 80c
Reports Q1 revenue $502.03M, consensus $489.16M
April 22, 2015
15:50 EDTDPZNotable companies reporting before tomorrow's open
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