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Stock Market & Financial Investment News

News Breaks
September 20, 2013
08:46 EDTDRIDarden sees SSS for casual dining industry flat for rest of year
Darden said its blended same restaurant sales expectations for its three large brands assumes that same restaurant sales for the casual dining industry rebounds from its Q1. The company noted that its outlook assumes that comparable sales for the industry are flat for the balance of the year. The company noted that the Thanksgiving week, which is a soft sales week, falls in its fiscal Q3 this year, as compared to Q2 last year. The company sees the Thanksgiving shift to benefit Q2 blended same restaurant sales by approximately 100 basis points, and hurt Q3 blended same restaurant sales by a similar amount. Comments from Q1 earnings conference call.
News For DRI From The Last 14 Days
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October 16, 2014
09:45 EDTDRIDarden expands board to 13, adds William Simon
Darden Restaurants (DRI) announced that William Simon has been appointed to the company's board, effective immediately. As a result of this action, the board also voted to expand the number of seats on the Board to 13. Simon, most recently the CEO of Walmart U.S. (WMT) and a former senior executive at Brinker (EAT), previously served on Darden's board for two years but did not stand for re-election. Darden said its board "will continue to evaluate additional qualified candidates and may, or may not, make an additional appointment to the Board in the future."
October 14, 2014
10:41 EDTDRIDarden trading higher after Gene Lee named interim CEO
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09:05 EDTDRIDarden appoints Jeffrey Smith independent non-executive chairman of the board
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October 13, 2014
13:22 EDTDRINorwegian Cruise Line names Drew Madsen as COO
Norwegian Cruise (NCLH) announced that hospitality veteran Drew Madsen has joined as president and COO of Norwegian Cruise Line. Madsen brings a strong track record of success to Norwegian with more than 30 years of leadership experience in the hospitality and consumer products industry, most recently as president and COO at Darden Restaurants (DRI) the world's largest full-service restaurant company.
10:08 EDTDRIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Bankrate (RATE) downgraded to Equal Weight from Overweight at Stephens... CME Group (CME) downgraded to Market Perform from Outperform at Wells Fargo... Cliffs Natural (CLF) downgraded to Neutral from Overweight at JPMorgan... Dana Holding (DAN) downgraded to Sector Perform from Outperform at RBC Capital... Darden (DRI) downgraded to Neutral from Overweight at Piper Jaffray... Dover (DOV) downgraded to Neutral at RW Baird... DryShips (DRYS) downgraded to Underperform from Outperform at Imperial Capital... Infineon (IFNNY) downgraded to Neutral from Overweight at JPMorgan... J.C. Penney (JCP) downgraded to Sell from Neutral at UBS... Johnson Controls (JCI) downgraded to Outperform from Top Pick at RBC Capital... Juniper (JNPR) downgraded to Hold from Buy at Argus... Kennametal (KMT) downgraded to Market Perform from Outperform at Wells Fargo... Masco (MAS) downgraded to Equal Weight from Overweight at Barclays... New Gold (NGD) downgraded to Neutral from Overweight at JPMorgan... ON Semiconductor (ONNN) downgraded to Sector Perform from Outperform at Pacific Crest... PBF Energy (PBF) downgraded to Underweight from Equal Weight at Barclays... Parker-Hannifin (PH) downgraded to Market Perform from Outperform at Wells Fargo... STMicroelectronics (STM) downgraded to Neutral from Overweight at JPMorgan... Silicon Laboratories (SLAB) downgraded to Sector Perform at Pacific Crest... VOXX International (VOXX) downgraded to Market Perform from Outperform at Cowen.
06:05 EDTDRIDarden downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray downgraded Darden to Neutral citing a lack of leadership clarity after Starboard ousted the company's entire board of directors.

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