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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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March 5, 2015
08:47 EDTCAKEArgus downgraded Cheesecake Factory on negative trends
As noted earlier, Argus downgraded Cheesecake Factory to Hold from Buy. The firm downgraded the stock after the company's revenue growth slowed last year, while higher food and labor costs weighed on its earnings. The firm expects these trends to continue in the near-term. Target $51.
07:45 EDTCAKEUBS to hold a conference
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07:40 EDTCAKECheesecake Factory downgraded to Hold from Buy at Argus
07:23 EDTEATJPMorgan to hold a forum
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March 3, 2015
09:16 EDTEATBrinker appoints Thomas Edwards as EVP and CFO effective March 16, 2015
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07:09 EDTCAKEBofA/Merrill to hold a conference
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March 2, 2015
10:02 EDTCAKEHigh option volume stocks
February 27, 2015
08:59 EDTBLMNBloomin' Brands 18.31M share Spot Secondary priced at $25.45
The deal range was $25.40-$25.50. JPMorgan acted as sole book running manager for the offering.
February 26, 2015
16:36 EDTBLMNBloomin' Brands files to sell 18.31M shares of common stock for holders
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10:00 EDTDINOn The Fly: Analyst Downgrade SummaryStarz
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08:47 EDTDINDineEquity price target raised to $130 from $100 at Janney Capital
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06:29 EDTDINDineEquity downgraded to Neutral from Overweight at JPMorgan
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February 25, 2015
08:10 EDTDINDineEquity sees FY15 Applebee's domestic same-restaurant sales up 1%-4%
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08:08 EDTDINDineEquity reports Q4 domestic IHOP same restaurant sales up 6.1%
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08:07 EDTDINDineEquity reports Q4 adjusted EPS $1.16, consensus $1.14
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February 24, 2015
15:21 EDTDINNotable companies reporting before tomorrow's open
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08:09 EDTBLMNJPMorgan says sell Texas Roadhouse, buy Bloomin' Brands
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February 23, 2015
11:51 EDTDRIOpco reiterates Darden as a top idea after CEO news
Oppenheimer reiterates Darden as a top idea after the company removed the temporary status of CEO Gene Lee. Opco views the development as an incremental positive and reiterates an Outperform rating on the name.
08:12 EDTDRIDarden board appoints Eugene Lee to CEO effective immediately
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February 20, 2015
08:35 EDTBLMNBloomin' Brands price target raised to $30 from $26 at BMO Capital
BMO Capital increased its price target on Bloomin' Brands after the company reported higher than expected Q4 EPS. The firm thinks the company's same-store sales growth has accelerated so far in Q1, while its comp sales will likely rise at least 2.5% this year. BMO Capital believes that the company can surpass EPS expectations this year, and it keeps an Outperform rating on the shares.
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