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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.
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April 22, 2014
18:53 EDTDRIStarboard urges Darden not to separate Red Lobster prior to annual meeting
Starboard Value LP, one of the largest shareholders of Darden Restaurants, with ownership of approximately 5.5% of the outstanding common stock of the company, announced that it has delivered by letter to Darden written requests from the holders of more than 55% of the company's outstanding common stock to call a special meeting of shareholders. At the special meeting, Starboard will present a non-binding resolution urging the board of Darden not to approve any agreement or proposed transaction involving a Red Lobster separation or spin-off prior to the 2014 annual meeting of shareholders unless such agreement or transaction would require shareholder approval.
11:28 EDTDRIStarboard wins consent to call special Darden meeting, CNBC reports
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11:26 EDTDRIDarden has 60 days to call special meeting, CNBC reports
11:26 EDTDRIStarboard wins consent to call special meeting of Darden holders, CNBC reports
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09:51 EDTDRIStarboard CEO believes fund will win consent solicitation at Darden
Starboard Value is seeking consent to call a special meeting of Darden shareholders where holders would be asked to consider a non-binding resolution urging the Darden board not to approve any agreement or proposed transaction involving a Red Lobster separation or spin-off. Starboard Value CEO Jeffrey Smith is speaking on CNBC.
April 13, 2014
16:04 EDTDRIDarden sued by investors on corporate bylaws, WSJ says
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April 11, 2014
13:45 EDTDRIDarden responds to ISS, Glass, Lewis reports
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