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June 17, 2014
12:29 EDTNUAN, PZZA, DPZDomino'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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January 21, 2015
13:52 EDTDPZDomino's Pizza price target raised to $110 from $96 at Argus
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January 20, 2015
09:38 EDTNUANActive equity options trading
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January 13, 2015
09:02 EDTPZZAPapa John's announces 2015 U.S. development incentive program
To support the continuing strong interest in new restaurant development, Papa Johnís International announced the 2015 U.S. Development Incentive Program for new and existing franchisees effective January 2015. New and existing franchisees who sign a new Development Agreement during 2015 can receive industry-leading incentives including: no franchise fee, a set of Middleby-Marshall WOW ovens and reduced royalties for four years. The program is generally available for new restaurants in the contiguous United States with a development agreement signed on or before December 27, 2015. The incentives are subject to the complete rules and eligibility requirements of the program at the time of signing a development agreement.
06:30 EDTDPZDomino's Pizza volatility elevated, shares at record high into investor day
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January 12, 2015
14:35 EDTNUANNuance calls active after blog predicts possible Baidu buyout
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14:12 EDTNUANNuance ticks higher after blog predicts possible Baidu buyout
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12:24 EDTDPZDomino's Pizza to host investor day
Investor Day be held on January 14 at 12:30 pm. Webcast Link

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