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Stock Market & Financial Investment News

News Breaks
June 2, 2014
17:08 EDTDRIStarboard withdraws special meeting request in letter to Darden board
Starboard Value, one of the largest shareholders of Darden Restaurants, announced that it has delivered a private letter to the Board of Directors of the company withdrawing its Special Meeting request delivered to Darden's Corporate Secretary on April 22, regarding the company's proposed separation of Red Lobster. In the letter, Starboard reiterated its disbelief that the Board committed to an irreversible, poorly structured, and clearly value destructive sale of Red Lobster prior to the Special Meeting and without requiring shareholder approval despite a clear shareholder directive to call the Special Meeting. Starboard condemned the Board for rendering the Special Meeting moot by entering into a binding contract to sell Red Lobster that does not require shareholder approval. Starboard believes that there is still substantial value to be unlocked at Darden. Starboard believes that its time is therefore better spent on the remaining opportunities to enhance shareholder value. Starboard remains committed to replacing a majority of the Board by electing a more qualified and more objective board that will commit to fairly representing shareholders, while putting in place a turnaround plan for Darden that will create substantial value.
News For DRI From The Last 14 Days
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July 2, 2015
10:04 EDTDRIHigh option volume stocks
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July 1, 2015
10:00 EDTDRIOn The Fly: Analyst Initiation Summary
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06:09 EDTDRIDarden initiated with a Neutral at Goldman
Target $74.
June 28, 2015
14:11 EDTDRIDarden shares 'could keep climbing,' Barron's says
Shares of Darden could keep rising regardless of its recently-accounted REIT plans, Barron's contends in its 'Streetwise' column. Barron's notes that Darden stock jumped nearly 6% on the news of its REIT before falling almost the same amount within the same day, and the publication argues that "spinning off a REIT is not easy in the best of times, and these are far from the best of times." Nevertheless, Barron's is confident in Darden, citing the company's future cost-cuts and share buybacks as well as its focus on growth. Reference Link
June 25, 2015
07:59 EDTDRIDarden price target raised to $80 from $75 at Oppenheimer
Oppenheimer increased its price target on Darden after the company reported stronger than expected results and provided higher than expected 2016 EPS guidance. The firm thinks that if the two entities formed following the spin off of the company's real estate assets execute well, the company will be able to reduce its debt by $1B, buy back stock and potentially increase its dividend. The firm keeps an Outperform rating on the shares.
June 24, 2015
08:41 EDTDRIDarden price target raised to $79 from $72 at Deutsche Bank
Deutsche Bank raised its price target for Darden Restaurants to $79 citing improving fundamentals and the company's intention to pursue a REIT structure following its Q4 results. The firm expects the company's turnaround to continue and reiterates a Buy rating on the name.
June 23, 2015
16:29 EDTDRIOn The Fly: Top stock stories for Tuesday
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13:37 EDTDRIOn The Fly: Top stock stories at midday
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09:14 EDTDRIOn The Fly: Pre-market Movers
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09:02 EDTDRIDarden sees 20% of Olive Garden total sales will migrate to takeout over time
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09:02 EDTDRIDarden expects 2016 traffic to be 'flattish', but will beat market
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08:52 EDTDRIDarden expects two-thirds of 2016 EPS growth to be in 1H16
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07:06 EDTDRIDarden sees FY16 adjusted EPS $3.05-$3.20, consensus $2.88
Sees FY16 same-restaurant sales growth of 2%-2.5%. Expects to open 18-22 restaurants in 2016. Sees FY16 total inflation of 1.5%-2%. Sees FY16 annual tax rate of 21%-24%. Sees FY16 total capital spending $230M-$255M.
07:05 EDTDRIDarden reports Q4 same-restaurant sales up 3.8%
Reports Q4 Olive Garden same-restaurant sales up 3.4%, Q4 LongHorn Steakhouse same-restaurant sales 5.2%; Q4 The Capital Grille same-restaurant sales up 4.4%; Q4 Eddie V's same-restaurant sales up 5.2%; Q4 Yard House same-restaurant sales up 3.2%; Q4 Seasons 52 same-restaurant sales up 3.1%; Q4 Bahama Breeze same-restaurant sales up 1.7%.
07:04 EDTDRIDarden reports Q4 adjusted EPS $1.08, consensus 93c
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07:03 EDTDRIDarden to pursue separation of portion of company's real estate assets
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June 22, 2015
15:00 EDTDRINotable companies reporting before tomorrow's open
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11:12 EDTDRIDarden July volatility elevated into Q4 and outlook
Darden July call option implied volatility is at 25, July is at 24, October is at 25; compared to its 52-week range of 17 to 29, suggesting large near term price movement into the expected release of Q4 results on June 23.
06:54 EDTDRIDunkin' Brands and Darden are top picks heading into 2H 2015 at Credit Suisse
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