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Stock Market & Financial Investment News

News Breaks
December 4, 2012
11:42 EDTCAKE, EAT, DIN, BJRI, TXRH, DRICasual 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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December 16, 2014
18:19 EDTDRIOn The Fly: After Hours Movers
UP AFTER EARNINGS: Dave & Buster's (PLAY), up 7.3%... Darden Restaurants (DRI), up 1.6%. ALSO HIGHER: Auspex Pharmaceuticals (ASPX), up 66.5% after Phase 3 trial of SD-809 met primary efficacy endpoint... Cerus (CERS), up 26.6% after FDA approves Intercept Blood System... American Apparel (APP), up 8.6% after terminating Dov Charney for cause. DOWN AFTER EARNINGS: Heico (HEI), down 1%. ALSO LOWER: Cliffs Natural (CLF), down 10% after price target cut to $1 from $10 at Credit Suisse... Linn Energy (LINE), down 3% after being downgraded to Neutral from Outperform at RW Baird.
17:56 EDTDRIDarden up 1.54% after reporting Q2 results, narrows FY15 EPS view
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16:12 EDTDRIDarden reports Q2 Olive Garden SSS were up 0.5%
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16:10 EDTDRIDarden narrows FY15 EPS view to $2.25-$2.30 from $2.22-$2.30, consensus $2.26
This reflects the expectation that the company's combined U.S. same-restaurant sales growth this fiscal year will be 1% to 2% and the impact of a 53rd operating week in the fiscal year. The current earnings expectations for the year also reflect anticipated support cost savings of $10M from the support cost reductions announced in the second quarter offset by cost pressures related to beef and dairy.
16:07 EDTDRIDarden reports Q2 EPS 28c, consensus 27c
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15:42 EDTDRINotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include HEICO (HEI), consensus 46c; Darden Restaurants (DRI), consensus 27c; Five Star Quality Care (FVE), consensus (3c).
December 15, 2014
15:21 EDTDRINotable companies reporting before tomorrow's open
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15:15 EDTDRIDarden technical comments before earnings
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10:00 EDTDRIOn The Fly: Analyst Upgrade Summary
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08:41 EDTDRIDarden December volatility elevated into Q2 and outlook
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08:16 EDTDRIDarden upgraded at Telsey Advisory
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06:08 EDTDRIDarden upgraded to Market Perform from Underperform at Telsey Advisory
December 10, 2014
10:00 EDTEATOn The Fly: Analyst Downgrade Summary
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08:11 EDTBJRIBJ's Restaurants price target raised to $56 from $42 at Wunderlich
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06:28 EDTEATBrinker downgraded to Hold from Buy at Miller Tabak
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