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Stock Market & Financial Investment News

News Breaks
July 23, 2014
11:38 EDTBWLD, RT, DRI, DENN, EATBrinker retreats after analyst downgrades on industry concerns
Shares of casual dining restaurant operator Brinker (EAT) are falling after RBC Capital downgraded the stock in a note to investors today. Brinker owns and franchises the Chili's and Maggiano's chains. WHAT'S NEW: Casual dining trends remain "worrisome" this summer, RBC Capital analyst David Palmer wrote. Data compiled during 2006-2012 show that visits to major casual dining trends by upper class "millennials" fell 12% during the period, while visits by low income millennials tumbled 29% over those six years. Consequently, Palmer expects same-store sales growth for the causal dining sector to remain near 0%. Brinker's new initiatives should enable the company to continue to grow its sales at a faster rate than the industry average, but the initiatives are unlikely to enable the company to generate "outsized" traffic for the company, the analyst contended. On a positive note, Brinker's free cash flow and share repurchases, along with its commitment to cut costs, should prevent the stock from falling too far, according to the analyst. He cut his rating on the shares to Sector Perform from Outperform and reduced his price target on the stock to $49 from $56. OTHERS TO WATCH: Other casual dining names include Darden Restaurants (DRI), Buffalo Wild Wings (BWLD), Denny's (DENN), and Ruby Tuesday (RT). PRICE ACTION: In late morning trading, Brinker dropped 1.3% to $44.55.
News For EAT;DRI;BWLD;DENN;RT From The Last 14 Days
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July 29, 2015
09:13 EDTBWLDOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Buffalo Wild Wings (BWLD), up 11.4%... Panera Bread (PNRA), up 5.9%... Sonus Networks (SONS), up 7.2%... Gilead Sciences (GILD), up 3.6%... U.S. Steel (X), up 3.3%... Synchronoss (SNCR), up 2.8%. ALSO HIGHER: Cytec Industries (CYT), up 26.7% after being acquired by Solvay (SVYZY)... MagneGas (MNGA), up 7.8% after receiving multiple orders... AK Steel (AKS), up 5.2% after being upgraded to Outperform from Neutral at Macquarie. DOWN AFTER EARNINGS: Yelp (YELP), down 23.6%... VASCO Data Security (VDSI), down 13.3%... Tableau Software (DATA), down 16%... Twitter (TWTR), down 11.4%... Akamai Technologies (AKAM), down 7.9%.
08:47 EDTBWLDBuffalo Wild Wings price target raised to $212 from $190 at Baird
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July 28, 2015
19:10 EDTBWLDOn The Fly: After Hours Movers
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18:34 EDTBWLDBuffalo Wild Wings sees rising wage rates, beer costs, wing prices
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18:32 EDTBWLDBuffalo Wild Wings sees FY15 capital spending of $177M
On Buffalo Wild Wings' Q2 earnings conference call, the company said, "We spent $41.5M for property and equipment capital expenditures in Q2 of 2015, and we estimate that our annual capital spending will be $177M inclusive of our franchise acquisitions and investment in emerging brands."
16:12 EDTBWLDBuffalo Wild Wings trades up after hours on revised outlook
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16:09 EDTBWLDBuffalo Wild Wings revises FY15 EPS growth to 13%, consensus $5.77
"As a result of the near-term expenses from the integration of the franchise acquisition, we are revising our net earnings growth goal for 2015 to 13%," said the company.
16:08 EDTBWLDBuffalo Wild Wings sees acquisition of Texas franchises impacting FY15 EPS
"In July, we finalized a purchase agreement to acquire 41 franchised Buffalo Wild Wings locations in Texas, New Mexico, and Hawaii and we anticipate the transaction closing in August. This acquisition is expected to decrease net earnings in 2015 due to the timing of the closing, increased depreciation and amortization of reacquired franchise rights, and $5M in transition costs," the company said. FY15 EPS consensus is $5.77.
16:06 EDTBWLDBuffalo Wild Wings reports Q2 EPS $1.12, consensus $1.26
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15:21 EDTBWLDNotable companies reporting after market close
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July 27, 2015
16:33 EDTRTRuby Tuesday COO Todd Burrowes resigns
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July 24, 2015
10:00 EDTBWLDOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abaxis (ABAX) downgraded to Hold from Buy at Canaccord... Buffalo Wild Wings (BWLD) downgraded to Neutral from Buy at Dougherty... CF Industries (CF) downgraded on nitrogen outlook at RBC Capital... Capital One (COF) downgraded to Neutral from Overweight at JPMorgan... Cepheid (CPHD) downgraded to Sell from Hold at Evercore ISI... Constant Contact (CTCT) downgraded to Neutral from Outperform at Baird... Equifax (EFX) downgraded to Neutral from Outperform at Baird... Hannover Re (HVRRY) downgraded to Underweight from Neutral at JPMorgan... IAMGOLD (IAG) downgraded to Underperform from Market Perform at Raymond James... MSA Safety (MSA) downgraded to Neutral from Accumulate at Global Hunter... MTU Aero (MTUAY) downgraded to Underperform from Buy at BofA/Merrill... Macy's (M) downgraded to Underweight from Neutral at Atlantic Equities... Sunesis (SNSS) downgraded to Hold from Buy at Cantor... Superior Drilling (SDPI) downgraded to Hold from Buy at Wunderlich... TrueCar (TRUE) downgraded to Equal Weight from Overweight at Stephens... United Rentals (URI) downgraded to Outperform from Top Pick at RBC Capital... WESCO (WCC) downgraded to Equal Weight from Overweight at Stephens.
09:10 EDTBWLDBuffalo Wild Wings downgraded to Neutral from Buy at Dougherty
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July 23, 2015
16:25 EDTRTRuby Tuesday sees FY16 adjusted EPS 12c-17c, consensus 7c
Sees FY16 same-restaurant sales to be in the range of flat to up 2%. Q1-to-date, same-restaurant sales are in-line with this range.
16:25 EDTRTRuby Tuesday reports Q4 adjusted EPS 12c, consensus 10c
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07:48 EDTBWLDBuffalo Wild Wings August volatility elevated into Q2 and outlook
Buffalo Wild Wings August call option implied volatility is at 41, September is at 31; compared to its 52-week range of 21 to 48, suggesting large near term price movement into the expected release of Q2 results on July 28.
06:57 EDTDRIDarden threatened with default call by bondholders over real estate, WSJ reports
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July 22, 2015
10:01 EDTBWLDOn The Fly: Analyst Downgrade Summary
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09:22 EDTBWLDBuffalo Wild Wings downgraded to Mixed from Positive at OTR Global
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July 21, 2015
16:21 EDTRTRuby Tuesday appoints David Skena as Chief Marketing Officer
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