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Stock Market & Financial Investment News

News Breaks
July 29, 2014
08:00 EDTDRIStarboard issues statement in response to Darden CEO retirement
Starboard CEO Jeffrey Smith, stated, "The overdue retirement of Clarence Otis is obviously in the best interest of Darden and its shareholders. It is surprising to us that it took this long. It is a shame for all Darden shareholders that this change happened only after the Board sanctioned the destruction of a billion dollars in shareholder value by approving the Red Lobster sale against the vehement objections of its shareholders... Unfortunately, Mr. Otis leaving represents just one small step in the transformation that is urgently needed at Darden. To be clear, the Company still requires a major overhaul at the Board level. This Board has proven over an extended period of time that it is unable to respectfully and capably represent the best interests of the shareholders they were elected to represent and cannot be trusted to make the incredibly important decision as to the selection of the next CEO of Darden. There needs to be a true and complete process to vet both internal and external talent in order to find a truly great, transformational, operationally-focused restaurant leader. This Board has a history of repeatedly making the easy decision, rather than the decision that is best for shareholders. Darden needs a majority change to the Board as soon as possible to jumpstart and complete the process of recruiting a truly great leader."
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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