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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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August 25, 2015
16:51 EDTEATBrinker Chief Development Officer Roger Thomson to retire on June 30, 2016
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August 20, 2015
17:02 EDTEATBrinker increases dividend 14%, authorizes $250M stock repurchase
The board for Brinker International declared a quarterly dividend of 32c per share on the common stock, representing a 14% increase in Brinker's quarterly dividend. The dividend will be payable Sept. 24 to shareholders of record as of Sept. 4. Brinker's board also authorized an additional $250M in share repurchases. With the additional amount, Brinker will have approximately $567M in available authorization.
August 16, 2015
18:56 EDTBLMNU.S. food chains see opportunity in a weakened Brazil, WSJ says
North American food chains including McDonald's (MCD), Dunkin' Brands (DNKN), Domino's Pizza (DPZ), Papa John's (PZZA), and Bloomin' Brands (BLMN) are expanding into Brazil in hopes to capture market share while local restaurants pull back amid the country's economic uncertainty, reports the Wall Street Journal. Brazilian economic troubles "make it more challenging, but it's also an opportunity... The Brazilian economy will improve, and we'll be in a position to take advantage of that," commented Patrick Murtha, president of the international arm of Bloomin' Brands. Reference Link

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