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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."
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September 12, 2014
08:49 EDTDRIDarden expects to maintain current quarterly dividend of 55c per share
08:49 EDTDRIDarden sees FY15 food costs up 2%-2.5%
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07:46 EDTDRIDarden issues statement regarding Starboard's operational plan
COO Gene Lee said, "We remain open minded toward all ideas that support long-term value creation for our shareholders and improve the dining experience for our guests. While we will carefully and thoughtfully review Starboard's plan, which has been promised by Starboard for some time, upon initial review, we believe many of the brand and cost optimization strategies are already being implemented across our company and are showing results. The Olive Garden Brand Renaissance is well underway, and the improvements we are seeing in guest satisfaction and traffic trends reinforce our confidence in Olive Garden's potential. In addition, our efforts to grow and develop LongHorn Steakhouse and our Specialty Restaurants are on track. As we evaluate the Starboard plan, we will work to continue making strong progress across our brands for the benefit of all Darden stakeholders, including our employees."
07:08 EDTDRIDarden sees Q2 adjusted EPS 26c-28c, consensus 26c
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07:07 EDTDRIDarden backs FY15 adjusted EPS 2.22-$2.30, consensus $2.23
These expectations reflect the Company's projection that U.S. same-restaurant sales growth for fiscal 2015 for Olive Garden, LongHorn Steakhouse and the Specialty Restaurant Group will be flat to +1%, +1% to +2% and approximately +2%, respectively. Current earnings expectations for the year also reflect previously announced plans for the opening of approximately 37 net new restaurants.
07:06 EDTDRIDarden: Olive Garden Renaissance plan beginning to delive rpositive results
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07:04 EDTDRIDarden reports Q1 Olive Garden's sales down 0.5% to $913.5M
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07:03 EDTDRIDarden reports Q1 LongHorn Steakhouse same-restaurant sales up 2.8%
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07:01 EDTDRIDarden reports Q1 adjusted EPS 32c, consensus 32c
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06:09 EDTDRIStarboard releases detailed transformation plan for Darden
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September 11, 2014
15:10 EDTDRIDarden technical comments before earnings
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15:10 EDTDRINotable companies reporting before tomorrow's open
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September 10, 2014
17:49 EDTDRIStarboard Value says Darden has not fully complied with Florida courtís order
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09:07 EDTDRIDarden Restaurants volatility elevated into Q2 and growth outlook
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September 4, 2014
08:05 EDTDRIDarden sends letter to shareholders regarding board nominees, CEO search
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September 3, 2014
13:32 EDTDRIStarboard says Darden's decision to delay meeting 'poorly conceived' solution
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September 2, 2014
08:38 EDTDRIDarden announces new director nominees for annual meeting of shareholders
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08:34 EDTDRIDarden backs FY15 adjusted EPS $2.22-$2.30, consensus $2.22
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08:34 EDTDRIDarden reports progress on its Olive Garden brand renaissance plan
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08:33 EDTDRIDarden sees Q1 adjusted 31c-33c, consensus 30c
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