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Stock Market & Financial Investment News

News Breaks
July 23, 2014
11:38 EDTDRI, BWLD, DENN, RT, 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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September 12, 2014
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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13:11 EDTBWLDBuffalo Wild Wings focusing on small brands, Stadia concept, NRN says
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09:07 EDTDRIDarden Restaurants volatility elevated into Q2 and growth outlook
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September 4, 2014
08:47 EDTDENNJack in the Boxnames Frances Allen as president of Jack in the Box brand
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08:35 EDTDENNDenny's discloses Chief Brand Officer Frances Allen intention to resign
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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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