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Stock Market & Financial Investment News

News Breaks
January 22, 2014
11:39 EDTCAKE, DIN, DRI, BLMN, EATBrinker hits 52-week high after better than expected results
Shares of casual restaurant operator Brinker International (EAT) are rallying after the company's second quarter results beat expectations. Brinker owns and operates Chili’s and Maggiano’s restaurants and also franchises the brands. WHAT'S NEW: This morning, Brinker reported second quarter adjusted earnings of 59c per share and revenue of $704.4M, compared to analysts' consensus estimates of 58c and $699.23M, respectively. Comparable restaurant sales at company-owned restaurants increased 0.8% in the quarter. On its earnings conference call, Brinker said it was "optimistic" about the second half of 2014. The company expects the rate of commodity inflation to remain flat through this calendar year and noted that 75% of its commodities are contracted through the end of the current fiscal year. ANALYST REACTION: In a note to investors this morning, Citigroup said that Brinker continues to gain market share and outperformed the industry during the quarter in terms of same-store sales in each month. Citi said the company's slightly better than expected results, coupled with low investor expectations for Brinker, could cause the shares to rise. The firm maintained a Buy rating with a $49 price target. PRICE ACTION: In late morning trading, Brinker rose $2.56, or 5.5%, to $49.25 on heavy trading volume. Earlier in the session, the stock hit a fresh 52-week high of $50.74, and it's up over 51% in the past twelve months. OTHERS TO WATCH: Brinkers' competitors include Darden Restaurants (DRI), Cheesecake Factory (CAKE), DineEquity (DIN) and Bloomin' Brands (BLMN).
News For EAT;DRI;CAKE;BLMN;DIN From The Last 14 Days
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December 17, 2014
07:36 EDTBLMNBloomin' Brands 2015 guidance looks conservative, says Wells Fargo
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December 16, 2014
18:19 EDTDRIOn The Fly: After Hours Movers
UP AFTER EARNINGS: Dave & Buster's (PLAY), up 7.3%... Darden Restaurants (DRI), up 1.6%. ALSO HIGHER: Auspex Pharmaceuticals (ASPX), up 66.5% after Phase 3 trial of SD-809 met primary efficacy endpoint... Cerus (CERS), up 26.6% after FDA approves Intercept Blood System... American Apparel (APP), up 8.6% after terminating Dov Charney for cause. DOWN AFTER EARNINGS: Heico (HEI), down 1%. ALSO LOWER: Cliffs Natural (CLF), down 10% after price target cut to $1 from $10 at Credit Suisse... Linn Energy (LINE), down 3% after being downgraded to Neutral from Outperform at RW Baird.
17:56 EDTDRIDarden up 1.54% after reporting Q2 results, narrows FY15 EPS view
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16:12 EDTDRIDarden reports Q2 Olive Garden SSS were up 0.5%
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16:10 EDTDRIDarden narrows FY15 EPS view to $2.25-$2.30 from $2.22-$2.30, consensus $2.26
This reflects the expectation that the company's combined U.S. same-restaurant sales growth this fiscal year will be 1% to 2% and the impact of a 53rd operating week in the fiscal year. The current earnings expectations for the year also reflect anticipated support cost savings of $10M from the support cost reductions announced in the second quarter offset by cost pressures related to beef and dairy.
16:07 EDTDRIDarden reports Q2 EPS 28c, consensus 27c
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15:42 EDTDRINotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include HEICO (HEI), consensus 46c; Darden Restaurants (DRI), consensus 27c; Five Star Quality Care (FVE), consensus (3c).
08:43 EDTBLMNBloomin' Brands sees FY15 adjusted EPS up at least 15%
Consensus $1.27. For FY15, Bloomin' sees adjusted EPS growth of at least 15%, or at least 10% on a comparable calendar basis. Sees FY15 comparable sales growth for company-owned core domestic concepts of at least 1.5% with 40-50 system-wide restaurant openings. Sees FY15 commodity inflation of between 4%-6% and capital expenditures of between $235M-$255M.
08:41 EDTBLMNBloomin' Brands sees FY14 domestic comparable SSS up at least 1.5%
Bloomin' Brands sees FY14 domestic comparable sales up at least 1.5% and new system-wide restaurant openings are expected to be 55. All other aspects of the fiscal 2014 financial outlook remain unchanged.
December 15, 2014
15:21 EDTDRINotable companies reporting before tomorrow's open
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15:15 EDTDRIDarden technical comments before earnings
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10:00 EDTDRIOn The Fly: Analyst Upgrade Summary
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08:41 EDTDRIDarden December volatility elevated into Q2 and outlook
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08:16 EDTDRIDarden upgraded at Telsey Advisory
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06:08 EDTDRIDarden upgraded to Market Perform from Underperform at Telsey Advisory
December 11, 2014
05:57 EDTBLMNBloomin' Brands to host analyst/investor day
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December 10, 2014
10:00 EDTEATOn The Fly: Analyst Downgrade Summary
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06:28 EDTEATBrinker downgraded to Hold from Buy at Miller Tabak
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