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January 22, 2014
11:39 EDTEAT, DRI, CAKE, BLMN, DINBrinker 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
Check below for free stories on EAT;DRI;CAKE;BLMN;DIN the last two weeks.
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August 28, 2014
14:11 EDTDRIStarboard urges Darden shareholders vote for board nominees
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August 26, 2014
06:33 EDTDRIBurger King wants merger despite problems with dining combos, NY Times says
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August 25, 2014
07:36 EDTBLMNBloomin' Brands risk/reward ratio should become interesting, says William Blair
After meeting with Bloomin' Brands' management, William Blair thinks that the company's earnings growth should rebound next year, causing its risk/reward ratio to become "interesting." The firm is optimistic that the company can meet its new, lowered guidance, and keeps an Outperform rating on the shares.
06:47 EDTBLMNBloomin' Brands removed from short-term buy list at Deutsche Bank
Deutsche Bank removed Bloomin' Brands from the short-term buy list due to an automatic time demotion.
August 21, 2014
17:06 EDTEATBrinker increases quarterly dividend 17% to 28c, authorizes $350M stock buyback
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10:14 EDTCAKEOn The Fly: Analyst Downgrade Summary
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08:39 EDTCAKECheesecake Factory downgraded at BofA/Merrill
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08:21 EDTCAKECheesecake Factory downgraded to Underperform from Buy at BofA/Merrill
August 19, 2014
10:13 EDTEATOn The Fly: Analyst Upgrade Summary
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08:37 EDTEATBrinker upgraded to Buy from Hold at Wunderlich
Wunderlich upgraded Brinker to Buy citing the company's stronger than industry same-store-sales trends and strong operating economies. The firm raised its price target for shares to $55 from $52.
06:32 EDTEATBrinker upgraded to Buy from Hold at Wunderlich
Wunderlich upgraded Brinker to Buy with a $55 price target.
August 15, 2014
09:03 EDTDRIDarden retains Russell Reynolds for CEO search
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August 14, 2014
09:35 EDTBLMNBloomin' Brands downgraded to Neutral from Buy at Tigress Financial
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