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News Breaks
August 25, 2014
07:32 EDTMCD, CMGMcDonald's challenged as younger eaters defect to Chipotle, WSJ says
As McDonald's (MCD) faces a prolonged slump in sales growth, data compiled for The Wall Street Journal by Technomic showed that diners in their 20s and 30s are seeking out fresher, healthier food and defecting to competitors, in particular fast-casual restaurants like Chipotle Mexican Grill (CMG) and higher-end burger chain Five Guys. Reference Link
News For MCD;CMG From The Last 14 Days
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October 20, 2014
16:05 EDTCMGChipotle says comparable restaurant sales growth driven by traffic
Revenue for the quarter was $1.08B up 31.1% from Q313. The growth in revenue was driven by a 19.8% increase in comparable restaurant sales and from new restaurants not in the comparable base. Comparable restaurant sales growth was driven primarily by increased traffic and from an increase in average check, which includes the benefit of a nationwide menu price increase that was fully rolled out by the end of the second quarter.
16:03 EDTCMGChipotle opened 43 new restaurants in Q3
Total restaurant count now 1.724. Food costs were 34.3% of revenue, an increase of 70 basis points, driven by increased prices for beef, avocados, and dairy, partially offset by the menu price increase. Restaurant level operating margin was 28.8% in the quarter, an increase of 200 basis points from the third quarter of 2013. The increase was primarily driven by favorable sales leverage, partially offset by higher food costs, primarily for beef, avocados and dairy. General and administrative expenses were 6.6% of revenue, an increase of 20 basis points due to costs from our biennial All Managers’ Conference held during the third quarter, partially offset by favorable sales leverage.
16:02 EDTCMGChipotle sees FY14 mid teens comparable restaurant sales increases
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16:01 EDTCMGChipotle reports Q3 EPS $4.15, consensus $3.84
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15:36 EDTMCDNotable companies reporting before tomorrow's open
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15:30 EDTCMGNotable companies reporting after market close
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14:49 EDTCMGChipotle October weekly 650 straddle priced for 7.8% move into Q3
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13:57 EDTMCDMcDonald's October weekly volatility elevated into Q3 and outlook
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13:46 EDTMCDEarnings Preview: McDonald's sees 15c-20c hit to EPS from China supplier issues
McDonald's (MCD) is scheduled to report third quarter earnings before the open on Tuesday, October 21, with a conference call scheduled for 11:00 am ET. McDonald’s franchises and operates fast food restaurants globally.EXPECTATIONS: Analysts are looking for earnings per share of $1.38 on revenue of $7.19B, according to First Call. The consensus range for EPS is $1.31-$1.51 on revenue of $7.03B-$7.35B. LAST QUARTER: McDonald's reported second quarter EPS of $1.40 against estimates of $1.44 and revenue of $7.18B against estimates of $7.29B. McDonald's also reported global comparable sales relatively flat, with U.S. SSS down 1.5%, Europe SSS down 1% and Asia/Pacific, Mideast, Africa SSS up 1.1%. On its earnings conference call, the company forecast a 4c-5c negative impact on EPS from currency in 2014. The company said it did not anticipate any material changes to the operating environment in the second half of 2014, but said near-term results would likely remain "muted." NEWS: During the quarter, the company said it expected to return $18B-$20B to shareholders between 2014-2016 and that $3.2B year-to-date August had been returned. McDonald's also raised its quarterly dividend 5% to 85c per share. McDonald's said China supplier issues would negatively impact the quarter by 15c-20c largely due to a combination of lost sales, expenses associated with its recovery efforts and the impact of these items on the Q3 tax rate, which is expected to be above the company's outlook for the full-year tax rate of 31%-33%. McDonald's recently announced that Russia temporarily suspended nine of its restaurants in the country. STREET RESEARCH: UBS said its recent survey indicates McDonald's does not have a brand image issue, but rather an execution problem, which will need to be fixed to increase traffic. The firm has a Buy rating and $110 price target on shares. Morgan Stanley downgraded McDonald's to Equal Weight from Overweight due to weakening fundamentals combined with U.S. market share loss, and international pressures. Wells Fargo said McDonald's 5% dividend increase was below the Street's 7%-9% outlook and portends badly for the company's operating cash flow, willingness to increase leverage ratios and its capital intensity plans heading into 2015. PRICE ACTION: McDonald's shares are trading down almost 8% over the last three months and are near flat today ahead of the Q3 earnings report.
12:52 EDTMCDMcDonald's technical comments before results
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11:35 EDTCMGChipotle technical view ahead of results
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October 19, 2014
18:11 EDTMCDRussia temporarily suspends nine McDonald's restaurants in the country
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October 16, 2014
10:33 EDTCMGChipotle Mexican Grill October weekly volatility elevated into Q3 and outlook
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06:21 EDTMCDMcDonald's rehires former U.S. executive, WSJ reports
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October 13, 2014
14:06 EDTMCDMcDonald's to answer questions about food, AP reports
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October 10, 2014
10:01 EDTCMGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 2U (TWOU) initiated with an Outperform at Pacific Crest... Bloomin' Brands (BLMN) initiated with an Outperform at BMO Capital... Brinker (EAT) initiated with a Market Perform at BMO Capital... Buffalo Wild Wings (BWLD) initiated with an Outperform at BMO Capital... Chipotle (CMG) initiated with a Market Perform at BMO Capital... Chuy's (CHUY) initiated with a Market Perform at BMO Capital... Darden (DRI) initiated with a Market Perform at BMO Capital... EMC (EMC) initiated with a Buy at Jefferies... EPR Properties (EPR) initiated with a Buy at BofA/Merrill... HP (HPQ) initiated with a Hold at Jefferies... IBM (IBM) initiated with an Underperform at Jefferies... McDermott (MDR) initiated with an In-Line at Imperial Capital... NetApp (NTAP) initiated with a Hold at Jefferies... New Residential (NRZ) initiated with a Neutral at Piper Jaffray... Nimble Storage (NMBL) initiated with a Buy at Jefferies... Noodles & Company (NDLS) initiated with an Outperform at BMO Capital... PDC Energy (PDCE) initiated with an Overweight at Stephens... Panera Bread (PNRA) initiated with a Market Perform at BMO Capital... Pioneer Natural (PXD) initiated with an Outperform at Imperial Capital... Resource America (REXI) initiated with a Buy at MLV & Co.... Rex Energy (REXX) initiated with an Overweight at Stephens... Seagate (STX) initiated with a Buy at Jefferies... Silicon Motion (SIMO) initiated with a Buy at Brean Capital... Texas Roadhouse (TXRH) initiated with a Market Perform at BMO Capital... W.P. Carey (WPC) initiated with a Neutral at BofA/Merrill... Wayfair (W) initiated with a Buy at Janney Capital...Western Digital (WDC) initiated with a Buy at Jefferies... Yelp (YELP) initiated with a Buy at Sterne Agee.
October 9, 2014
16:46 EDTCMGChipotle initiated with a Market Perform at BMO Capital
Target $720.
11:42 EDTCMGRuby Tuesday surges after Q1 profit beats estimates
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October 8, 2014
07:28 EDTMCDMcDonald's brand solid but execution issues remain, says UBS
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October 7, 2014
06:19 EDTMCDMcDonald's Japan now sees FY loss of Y17B
McDonald's Japan is forecasting a loss for the full year of Y17B vs. its previous guidance for a Y6B profit, the Financial Times reports. The company, which is 50% owned by McDonald's, sees food supplier problems impacting sales by Y45B.
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