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Stock Market & Financial Investment News

News Breaks
December 4, 2012
11:42 EDTDRI, BJRI, EAT, TXRH, DIN, CAKECasual dining stocks fall after Darden issues profit warning
A number of casual dining stocks are dropping after a major player in the sector, Darden Restaurants (DRI) predicted that its earnings per share in its second quarter ended November 25 would be significantly below analysts' expectations. Darden, which operates Olive Garden and Red Lobster restaurants, expects its earnings per share in the second quarter to be 25c-26c, versus analysts' consensus estimate of 47c. Moreover, Darden predicted that its U.S. same-restaurant sales would sink 2.7%. Finally, the casual dining operator provided FY13 earnings per share guidance of $3.29-$3.49, versus analysts' consensus estimate of $3.88. Darden's promotions last quarter "did not resonate with financially stretched consumers as well as newer promotions from competitors," said Darden CEO Clarence Otis, adding that the company would look to change its promotions soon. In late morning trading, Darden dropped 9.86% to $47.25. Other casual dining companies also retreated, with The Cheesecake Factory (CAKE) falling 5.31% to $32.25, BJ's Restaurant (BJRI) giving back 4.10% to $32.96, Brinker (EAT) declining 3.16% to $28.92,Texas Roadhouse (TXRH) losing 3.65% to $16.09, and DineEquity (DIN) falling 1.85% to $61.56.
News For DRI;BJRI;EAT;TXRH;DIN;CAKE From The Last 14 Days
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September 2, 2014
08:38 EDTDRIDarden announces new director nominees for annual meeting of shareholders
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08:34 EDTDRIDarden backs FY15 adjusted EPS $2.22-$2.30, consensus $2.22
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08:34 EDTDRIDarden reports progress on its Olive Garden brand renaissance plan
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08:33 EDTDRIDarden sees Q1 adjusted 31c-33c, consensus 30c
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August 28, 2014
14:11 EDTDRIStarboard urges Darden shareholders vote for board nominees
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August 27, 2014
07:29 EDTTXRHStephens to hold a plane trip
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August 26, 2014
16:10 EDTBJRIBJ's Restaurants add $100M to existing share buyback program
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06:33 EDTDRIBurger King wants merger despite problems with dining combos, NY Times says
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August 25, 2014
12:53 EDTTXRHTexas Roadhouse management to meet with Oppenheimer
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10:00 EDTTXRHOn The Fly: Analyst Upgrade Summary
CBOE Holdings (CBOE) upgraded to Outperform from Market Perform at Raymond James... Silver Bay Realty (SBY) upgraded to Overweight from Neutral at JPMorgan... U.S. Steel (X) upgraded to Outperform from Underperform at Credit Suisse... Endologix (ELGX) upgraded to Buy from Neutral at BTIG... Texas Roadhouse (TXRH) upgraded to Overweight from Equal Weight at Stephens... WPX Energy (WPX) upgraded to Outperform from Sector Perform at Howard Weil... Nomura (NMR) upgraded to Outperform from Neutral at Credit Suisse.
07:41 EDTTXRHTexas Roadhouse upgraded to Overweight from Equal Weight at Stephens
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August 21, 2014
17:06 EDTEATBrinker increases quarterly dividend 17% to 28c, authorizes $350M stock buyback
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10:14 EDTCAKEOn The Fly: Analyst Downgrade Summary
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08:39 EDTCAKECheesecake Factory downgraded at BofA/Merrill
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08:21 EDTCAKECheesecake Factory downgraded to Underperform from Buy at BofA/Merrill

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