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Stock Market & Financial Investment News

News Breaks
January 22, 2014
11:39 EDTBLMN, EAT, CAKE, DIN, DRIBrinker 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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January 20, 2015
08:58 EDTEATBrinker downgraded to Hold on valuation at Wunderlich
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08:51 EDTCAKECheesecake Factory upgraded to Outperform from Market Perform at William Blair
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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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January 12, 2015
09:19 EDTEAT, BLMNMorgan Stanley events at 17th Annual ICR XChange Conference
Company Meetings to be held at the 17th Annual ICR XChange Conference in Orlando, Florida on January 12-13.
09:13 EDTEAT, DRIRBC Capital events at 17th Annual ICR XChange Conference
Company Meetings to be held at the 17th Annual ICR XChange Conference in Orlando, Florida on January 12-13.
08:55 EDTDRI, EATBofA/Merrill events at 17th Annual ICR XChange Conference
Company Meetings to be held at the ICR XChange Conference in Orlando, Florida on January 12-13.

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