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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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March 3, 2015
09:16 EDTEATBrinker appoints Thomas Edwards as EVP and CFO effective March 16, 2015
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February 23, 2015
11:51 EDTDRIOpco reiterates Darden as a top idea after CEO news
Oppenheimer reiterates Darden as a top idea after the company removed the temporary status of CEO Gene Lee. Opco views the development as an incremental positive and reiterates an Outperform rating on the name.
08:12 EDTDRIDarden board appoints Eugene Lee to CEO effective immediately
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February 18, 2015
18:55 EDTDENNOn The Fly: After Hours Movers
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16:28 EDTDENNDenny's sees FY15 SSS up 2.5%-4.0%
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16:27 EDTDENNDenny's reports Q4 EPS 11c, consensus 11c
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