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Stock Market & Financial Investment News

News Breaks
July 23, 2014
11:38 EDTDENN, BWLD, RT, DRI, 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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January 30, 2015
07:00 EDTBWLDBuffalo Wild Wings February volatility elevated into Q4 and outlook
Buffalo Wild Wings February call option implied volatility is at 46, March is at 37, June is at 35; compared to its 26-week average of 33 according to Track Data, suggesting larger near term price movement into the expected release of Q4 results on February 5.
January 28, 2015
10:51 EDTEATBrinker sees commodity prices being less of an issue in Q4
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10:31 EDTEATBrinker slips after earnings, levels to watch
Shares are down over 1.3% at time of writing to $60.85. At that price next support is at $59.96. The key level to watch below that particular support is at $57.95, the 50-day moving average. That moving average is the uptrend support line proxy and it would snap the uptrend from the summer of 2014 if it were broken. Resistance is at $61.16.
10:21 EDTEATBrinker sees 'tough road ahead,' but 'not as bad' as last few years
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10:19 EDTEATBrinker says 'comfortable' with FY15 guidance to date
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10:18 EDTEATBrinker says still sees $4 in EPS by FY17
Says feels "really good" about Chilli's performance domestically. Says facing "challenging" headwinds internationally. Says optimistic about long-term growth potential of Maggiano's brand. Says environment "competitive." Comments made on the Q4 earnings conference call. Brinker is down 2.48% in morning trading to $60.10.
10:03 EDTBWLDBuffalo Wild Wings upgraded to Positive from Mixed at OTR Global (pre-open)
09:04 EDTBWLDBuffalo Wild Wings opens first restaurant in Philippines
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07:48 EDTEATBrinker reports Q2 Chili's sales up 4.4% to $602M
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07:47 EDTEATBrinker reports Q2 comparable restaurant sales up 3.7%
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07:46 EDTEATBrinker reports Q2 EPS excl items 71c, consensus 69c
Reports Q2 revenue $742.77M, consensus $735.87M
January 27, 2015
15:35 EDTEATNotable companies reporting before tomorrow's open
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12:18 EDTEATEarnings Preview: Brinker up 19.5% since last earnings report
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January 20, 2015
08:58 EDTEATBrinker downgraded to Hold on valuation at Wunderlich
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08:12 EDTEATBrinker downgraded to Hold from Buy at Wunderlich
Wunderlich downgraded Brinker to Hold with a $65 price target.
07:26 EDTDRIJefferies to hold a summit
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