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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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February 9, 2016
10:01 EDTCAKEOn The Fly: Analyst Initiation Summary
Today's noteworthy imitations include: ANSYS (ANSS) initiated with an Overweight at Mitsubishi UFJ... Antero Midstream (AM) initiated with a Buy at Janney Capital... Autodesk (ADSK) initiated with a Neutral at Mitsubishi UFJ... Cheesecake Factory (CAKE) initiated with a Buy at Maxim... Depomed (DEPO) initiated with a Buy at UBS... Fleetmatics (FLTX) initiated with a Market Perform at Avondale... Glaukos (GKOS) initiated with an Overweight at Piper Jaffray... La Jolla (LJPC) initiated with an Outperform at Cowen... Manhattan Associates (MANH) initiated with a Market Perform at Avondale... Metabolix (MBLX) initiated with a Buy at Rodman & Renshaw... Opower (OPWR) initiated with an Outperform at Avondale... Social Reality (SCRI) initiated with a Buy at Rodman & Renshaw... Splunk (SPLK) initiated with an Overweight at Mitsubishi UFJ... Sucampo (SCMP) initiated with a Buy at UBS... Ultragenyx (RARE) initiated with a Buy at H.C. Wainwright... Workday (WDAY) initiated with an Overweight at Mitsubishi UFJ.
07:40 EDTCAKECheesecake Factory initiated with a Buy at Maxim
Maxim analyst Stephen Anderson initiated Cheesecake Factory with a Buy rating and $57 price target. The analyst said Cheesecake Factory remains a viable long-term growth story and unit growth remains the most important top-line driver.
February 4, 2016
12:06 EDTEAT, DINBattleground: Buffalo Wild Wings gets upgraded and downgraded after earnings
Shares of Buffalo Wild Wings (BWLD) have rallied today following the company's fourth quarter earnings report. An analyst from Raymond James upgraded the stock following the report, saying that the sports-focused restaurant chain's sales visibility should improve in 2016. An analyst from Longbow, on the other hand, downgraded Buffalo Wild Wings due to concerns over the deceleration of its same-store sales growth. WHAT'S NEW: After the market close yesterday, Buffalo Wild Wings reported fourth quarter earnings per share of $1.32 on revenue of $490.2M, lower than consensus estimates of $1.48 and $507.23, respectively. Same-store sales grew 1.9% at company-owned restaurants and 0.1% at franchised restaurants, the company said. Buffalo Wild Wings also provided an outlook for fiscal 2016, saying it expects FY16 EPS of $5.95-$6.20, compared to the consensus forecast of $6.48. For 2016, the company expects single-digit same-store sales growth, including modestly positive traffic. BULLISH TAKE: Raymond James analyst Brian Vaccaro upgraded Buffalo Wild Wings to Outperform from Market Perform and established a $165 price target on shares. The analyst said that even though the company's Q4 earnings fell below expectations, he was encouraged by its better than expected first quarter comps and sees comparable store sales visibility improving through 2016. Vaccaro said that management's guidance appears to be conservative with respect to margins and reflects a strong 2016 earnings growth acceleration. The analyst added that the risk/reward factor for the stock is "favorable." In addition, UBS analyst Keith Siegner reiterated a Buy rating on Buffalo Wild Wings with a $200 price target on shares, saying that weakness in the stock following its lower than expected Q4 results presents a buying opportunity. The analyst said that 2016 "looks favorable" for the company and that various company initiatives should lead to solid top-line results. BEARISH TAKE: Longbow analyst Alton Stump downgraded Buffalo Wild Wings to Neutral from Buy, citing concerns over the deceleration of the company's same-store sales growth. Stump said that the stalling in positive sales growth is likely due at least in part to a more competitive market within the domestic bar and grill category. The analyst also said that traditional wing costs have failed to moderate meaningfully over the last 9-12 months and that management now anticipates "flattish" year over year bone-in wing costs in 2016. Stump said that disappointing SSS growth may bode negatively for other bar and grill restaurants including Applebee's, owned by DineEquity (DIN), BJ's Restaurants (BJRI), and Chili's, owned by Brinker (EAT). The analyst added that his firm reduced its Q1 EPS forecast for Buffalo Wild Wings to $1.77 from $1.81 and FY16 EPS to $5.72 from $6.59. For company-owned SSS, the firm now sees a flat performance for the company in Q1, modest 0.8% growth in 2016 instead of the previous forecast of 2.2%, and 2% growth in 2017. PRICE ACTION: At midday, Buffalo Wild Wings gained 6.7% to $153.24.
February 3, 2016
11:26 EDTEATOptions with increasing call volume; LOW LNC DG EW SNOW KLIC CIT AN EAT SYT
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January 29, 2016
10:05 EDTDRIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abbott (ABT) downgraded to Market Perform from Outperform at William Blair... Chuy's (CHUY) downgraded to Market Perform from Outperform at Raymond James... Cypress Semiconductor (CY) downgraded to Neutral from Buy at Sterne Agee CRT... Darden (DRI) downgraded to Underperform from Market Perform at Raymond James... Dominion (D) downgraded to Neutral from Buy at UBS... Ensco (ESV) downgraded to Neutral from Buy at Citi... First Financial (FFIN) downgraded to Sell from Hold at Sandler O'Neill... Global Partners (GLP) downgraded to Neutral from Overweight at Mitsubishi UFJ... Investors Bancorp (ISBC) downgraded to Sell from Neutral at Compass Point... NetScout (NTCT) downgraded to Hold from Buy at Needham... Precision Castparts (PCP) downgraded to Sell from Buy at Gabelli... Spirit AeroSystems (SPR) downgraded to Sell from Neutral at Goldman... Synaptics (SYNA) downgraded to Buy from Strong Buy at Needham... Terex (TEX) downgraded to Market Perform from Outperform at Avondale... UniCredit (UNCFF) downgraded to Hold from Buy at Berenberg... United Rentals (URI) downgraded to Neutral from Positive at Susquehanna... Xcel Energy (XEL) downgraded to Neutral from Outperform at Macquarie.
06:23 EDTDRIDarden downgraded to Underperform from Market Perform at Raymond James
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January 28, 2016
10:04 EDTCAKEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Amdocs (DOX) upgraded to Buy from Neutral at BofA/Merrill... Cheesecake Factory (CAKE) upgraded to Overweight from Equal Weight at Stephens... Chemical Financial (CHFC) upgraded to Buy from Hold at Sandler O'Neill... Cimarex Energy (XEC) upgraded to Buy from Hold at Wunderlich... Cirrus Logic (CRUS) upgraded to Outperform from Perform at Oppenheimer... Citrix (CTXS) upgraded on Q4 results, valuation at JMP Securities... Comerica (CMA) upgraded to Market Perform from Underperform at BMO Capital... Community Health (CYH) upgraded to Market Perform from Underperform at Raymond James... Denny's (DENN) upgraded to Overweight from Equal Weight at Stephens... Dolby (DLB) upgraded to Buy from Neutral at Dougherty... EMC (EMC) upgraded to Buy from Neutral at Mizuho... Halliburton (HAL) upgraded to Buy from Accumulate at KLR Group... Hanmi Financial (HAFC) upgraded to Strong Buy from Outperform at Raymond James... Hawaiian Holdings (HA) upgraded to Neutral at BofA/Merrill... Hologic (HOLX) upgraded to Buy from Hold at Needham... Kinder Morgan (KMI) upgraded at Stifel... MGM China (MCHVF) upgraded to Overweight from Neutral at JPMorgan... Nimble Storage (NMBL) upgraded to Buy from Hold at Maxim... Patterson Companies (PDCO) upgraded to Buy from Neutral at UBS... PayPal (PYPL) upgraded to Outperform on core market share gains at Wedbush... Prosperity Bancshares (PB) upgraded to Buy from Neutral at DA Davidson... RPC, Inc. (RES) upgraded to Overweight from Equal Weight at Morgan Stanley... Rowan Companies (RDC) upgraded to Equal Weight from Underweight at Morgan Stanley... SanDisk (SNDK) upgraded to Buy from Neutral at Mizuho... Stillwater Mining (SWC) upgraded to Outperform from Market Perform at FBR Capital... Vantiv (VNTV) upgraded to Positive from Neutral at Susquehanna... Wilshire Bancorp (WIBC) upgraded to Outperform from Market Perform at Raymond James.
07:48 EDTCAKECheesecake Factory upgraded to Overweight from Equal Weight at Stephens
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