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Stock Market & Financial Investment News

News Breaks
July 23, 2014
11:38 EDTRT, DRI, DENN, BWLD, 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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April 17, 2015
10:20 EDTDRIDarden management to meet with Stephens
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10:17 EDTDRIDarden management to meet with Stephens
Meeting to be held in Orlando on April 21 hosted by Stephens.
April 16, 2015
10:00 EDTDRI, BWLDOn The Fly: Analyst Initiation Summary
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April 15, 2015
17:24 EDTDRIDarden initiated with a Neutral at Guggenheim
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17:24 EDTBWLDBuffalo Wild Wings initiated with a Neutral at Guggenheim
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10:00 EDTBWLDOn The Fly: Analyst Initiation Summary
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06:04 EDTBWLDBuffalo Wild Wings initiated with an Outperform at Cowen
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April 14, 2015
10:01 EDTDRIDarden's Olive Garden unit enters into agreement with Ziosk for tabletop tablets
Olive Garden announced it has entered into an agreement with Ziosk, makers of ordering, entertainment and pay-at-the-table tablets, to begin the introduction of tabletop tablets in all of its restaurants nationwide. Olive Garden has been testing Ziosk in a select number of its restaurants since last year, and the feedback from guests and servers has been positive. Starting in May, Olive Garden will begin a phased rollout of Ziosk tablets into additional restaurants. The program will be supported by robust in-restaurant training to ensure this implementation reaches its full potential of enhancing the overall experience for guests and team members. Olive Garden expects Ziosk tablets to be in all of its 800-plus U.S. locations before the end of the calendar year.
April 9, 2015
16:14 EDTRTRuby Tuesday lowers FY15 SSS to flat to down 1%
Sees FY15 SSS flat to down 1%. Guidance for the year is revised from prior guidance of up 1% to down 1%. Sees SG&A $117M-$119M. Guidance is revised from prior guidance of $127M-$130M. The reduction is primarily driven by reduced marketing spending. Sees capex $28M-$32M. Expects to generate $9M-$11M of cash proceeds for the year from the disposition of excess real estate. Guidance for fiscal year 2015 is revised from prior guidance of $8M-$12M.
16:11 EDTRTRuby Tuesday sees Q4 SSS flat to down in low single digits
Sees Q4 SSS flat to down in low single digits. Sees restaurant level margin 16.5%-17% of restaurant sales as compared to prior guidance of 16%-17%. Improvement is primarily due to decreases in cost of goods sold, payroll and related costs, and other restaurant operating costs resulting from cost savings initiatives.
16:09 EDTRTRuby Tuesday reports Q3 EPS (1c), consensus (4c)
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15:20 EDTRTNotable companies reporting after market close
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10:00 EDTDENN, EATOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Adobe (ADBE) initiated with an Overweight at Stephens... Aimco (AIV) initiated with a Neutral at Janney Capital... Akamai (AKAM) initiated with a Hold at Deutsche Bank... Anadarko (APC) initiated with an Outperform at BMO Capital... Apache (APA) initiated with a Market Perform at BMO Capital... Arista Networks (ANET) initiated with a Neutral at Wedbush... AvalonBay (AVB) initiated with a Neutral at Janney Capital... BioScrip (BIOS) initiated with a Buy at Craig-Hallum... Brinker (EAT) initiated with a Buy at Longbow... Broadcom (BRCM) initiated with a Buy at Ladenburg... Camden Property (CPT) initiated with a Neutral at Janney Capital... Canadian National (CNI) initiated with an Overweight at Atlantic Equities... Canadian Pacific (CP) initiated with an Overweight at Atlantic Equities... Cancer Genetics (CGIX) initiated with a Buy at Janney Capital... Denny's (DENN) initiated with a Buy at Longbow... Equity Residential (EQR) initiated with a Neutral at Janney Capital... Essex Property Trust (ESS) initiated with a Neutral at Janney Capital... Fifth Third (FITB) initiated with a Buy at Evercore ISI... Garrison Capital (GARS) initiated with a Buy at Maxim... GrubHub (GRUB) initiated with a Hold at Wunderlich... Hess Corp. (HES) initiated with a Market Perform at BMO Capital... Home Properties (HME) initiated with a Buy at Janney Capital... Huntington Bancshares (HBAN) initiated with a Buy at Evercore ISI... Intersect ENT (XENT) initiated with a Buy at CRT Capital... Jack in the Box (JACK) initiated with a Neutral at Longbow... KeyCorp (KEY) initiated with a Hold at Evercore ISI... LogMeln (LOGM) initiated with a Neutral at JPMorgan... Marathon Oil (MRO) initiated with a Market Perform at BMO Capital... Marvell (MRVL) initiated with an Outperform at Cowen... Masonite (DOOR) initiated with an Outperform at Macquarie... Mid-America Apartment (MAA) initiated with a Buy at Janney Capital... Natures Sunshine Products (NATR) initiated with an In-Line at Imperial Capital... Nielsen (NLSN) initiated with an Outperform at Telsey Advisory... Plug Power (PLUG) initiated with an Equal Weight at Morgan Stanley... Post Properties (PPS) initiated with a Neutral at Janney Capital... QTS Realty Trust (QTS) initiated with a Buy at Evercore ISI... Rentrak (RENT) initiated with an Outperform at Telsey Advisory... RiceBran (RIBT) initiated with a Buy at Maxim... StarTek (SRT) initiated with a Buy at Lake Street... Tribune Media (TRCO) initiated with an Outperform at Wells Fargo... TrueCar (TRUE) initiated with a Hold at Wunderlich... UDR, Inc. (UDR) initiated with a Neutral at Janney Capital... comScore (SCOR) initiated with a Market Perform at Telsey Advisory.
07:35 EDTDENNDenny's initiated with a Buy at Longbow
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07:35 EDTEATBrinker initiated with a Buy at Longbow
Target $76.
April 8, 2015
17:04 EDTBWLDDiversified Restaurant updates proposed acquisition of BWW restaurants
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10:45 EDTEATHigh option volume stocks
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