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Stock Market & Financial Investment News

News For IN;HON;NXY;CEO;MCD;CLDX;ZGNX From The Last 14 Days
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October 21, 2014
12:21 EDTHONHoneywell responds to EC statement of objections
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11:57 EDTMCDChipotle falls after outlook for FY15 comparable restaurant sales disappoints
Shares of fast casual restaurant chain Chipotle Mexican Grill (CMG) are falling after the company issued a disappointing outlook for fiscal 2015 comparable restaurant sales. WHAT'S NEW: Last night, Chipotle reported third quarter earnings per share of $4.15 and revenue of $1.08B, topping analysts’ consensus estimates of $3.84 and $1.06B, respectively. Comparable restaurant sales rose 19.8% in the quarter, driven primarily by increased traffic and from a higher average check, which includes the benefit of a nationwide menu price increase that was fully rolled out by the end of the second quarter. The company opened 43 new restaurants in Q3. WHAT'S NOTABLE: Chipotle forecast comparable restaurant sales increases in the mid-teens for fiscal year 2014, and the company said it expects to open 180-195 new restaurants during the year. The company also sees an effective tax rate for FY14 of about 38.5%. For FY15, the company sees low to mid-single digits comparable restaurant sales gains, 190-205 new restaurant openings and an effective tax rate of 39.1%. On Chipotle’s Q3 earnings conference call, management said it expects food costs to continue rising into the fourth quarter and throughout 2015. The company also noted that it was still seeing strong traction growth regardless of recent menu price increases. Chipotle said it will "opportunistically" repurchase stock in order to enhance shareholder value. ANALYST REACTION: This morning, Wells Fargo kept a Market Perform rating on Chipotle, but lowered its price target range on shares to $600-$625 from $650-$675. In its note, Wells said greater than expected commodity inflation and labor cost pressure in 2015 will likely lead to lower Street estimates. Wells expects same store sales to decline sequentially from 4Q14 through 3Q15 due to double-digit traffic comparisons in earlier quarters and less pricing in later quarters. Another firm, Oppenheimer, recommended using any post-earnings weakness in shares of Chipotle as a buying opportunity. The firm believes investors are concerned over 2015 estimates coming down on food cost pressures. The firm said food cost issues are unlikely to get worse from here and it kept an Outperform rating on Chipotle with a $775 price target. PRICE ACTION: In late morning trading, Chipotle fell $44.14, or nearly 7%, to $609.28 on nearly twice its average daily trading volume. Despite today's pull back, the shares have gained approximately 21% over the past 12 months. OTHERS TO WATCH: Other fast casual restaurant companies include El Pollo LoCo (LOCO), Fiesta Restaurant (FRGI), Jack in the Box (JACK), and McDonald’s (MCD), which reported results this morning.
11:49 EDTMCDMcDonald's sees continued margin pressure in Q4
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11:30 EDTMCDMcDonald's plans to return $18B-$20B to shareholders over three years
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11:29 EDTMCDMcDonald's sees top, bottom line performance remaining pressured in Q4
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11:26 EDTMCDMcDonald's sees U.S. dollar hurting Q4 EPS by 5c-6c, FY14 EPS by 9c-10c
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10:27 EDTHONDuPont aims to defend itself 'vigorously' against EC investigation
DuPont (DD) Chemicals & Fluoroproducts president Thierry Vanlancker commented on the European Commission's Statement of Objections. Vanlancker said, "DuPont has complied at all times with applicable laws in its development and commercialization of HFO-1234yf, and we plan to defend vigorously against the commission's allegations and preliminary conclusions. This is one step in a long process, and while it may take years to be resolved, we are confident that the Commission will ultimately conclude that actions taken by DuPont complied with applicable laws. We will fight this every step of the way, as it has no basis in law or fact. We are disappointed in the European Commission and in the process leading up to this point. DuPont and Honeywell (HON)developed HFO-1234yf jointly in response to the European Union's Mobile Air Conditioning Directive. This regulation requires automakers to use a refrigerant with very low global warming potential for vehicle air-conditioning systems. The regulatory timeframe was short considering the significant challenges of developing and commercializing a refrigerant that meets all the automotive industry's needs. This short timeframe was a primary reason for DuPont and Honeywell working jointly to develop HFO-1234yf. Regardless of the Statement, the EU MAC Directive remains in full force today, with all new vehicles required to use a refrigerant with a GWP of under 150 by January 2017."
09:37 EDTMCDActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL PBR AMZN C TWTR CVX VZ MCD GILD TXN
08:10 EDTMCDMcDonald's expects internal factors, external headwinds to continue in Q4
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08:09 EDTMCDMcDonald's CEO: These challenges call for equally significant changes
CEO Don Thompson said, "We began 2014 mindful of the challenges we faced in driving sales and profitability. The internal factors and external headwinds have proven more formidable than expected and will continue into the fourth quarter, with global comparable sales for October expected to be negative. These significant challenges call for equally significant changes in the way we do business. In the U.S., we are driving decision making from headquarters back into the field, where our restaurants serve the daily needs of our customers in their local communities. In our international markets, we are taking action to restore customer trust and regain business momentum. We understand the depth of the challenges and we are responding with the sense of urgency required to improve our performance."
08:08 EDTMCDMcDonald's reports Q3 AMPEA comparable sales down 9.9%
Cites the impact of the supplier issue on sales and profitability in China, Japan and certain other markets.
08:07 EDTMCDMcDonald's reports Q3 Europe comparable sales down 1.4%
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08:07 EDTMCDMcDonald's to implement revamped marketing approach, simplified menu
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08:04 EDTMCDMcDonald's reports Q3 global comparable sales down 3.3%
The decrease reflects negative guest traffic in all major segments and impact of previously-disclosed supplier issue in certain markets in APMEA. Reports Q3 consolidated operating income down 14%, half due to impact of supplier issue and remainder due to soft operating performance in US and certain markets in Europe.
08:03 EDTMCDMcDonald's to implement in global approach to increase relevance, drive traffic
The company has announced "Mcdonald's Experience of the Future", a comprehensive restaurant execution concept that elevates the menu and customer experience elements that are hallmarks of the McDonald's brand, and capitalizes on investments in reimaging, service and technology enhancements to improve the look, feel and convenience of the McDonald's experience in ways that are in-tune with today's consumer needs. It also announced a new digital strategy and a review of the organization's structure and use of resources in order to redirect spending toward those initiatives, such as the digital strategy and the McDonald's Experience of the Future, that will support the Company's key long-term growth initiatives.
08:00 EDTMCDMcDonald's: Q3 results pressred by tax rate, unusual events, US underperformance
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07:59 EDTMCDMcDonald's reports Q3 EPS $1.09, consensus $1.37
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06:33 EDTMCDMcDonald's turning off some diners due to increased prices, Bloomberg says
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October 20, 2014
15:36 EDTMCDNotable companies reporting before tomorrow's open
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13:57 EDTMCDMcDonald's October weekly volatility elevated into Q3 and outlook
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