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News Breaks
May 27, 2014
08:51 EDTNDLSNoodles & Company agrees to acquire sixteen franchised locations for $13.4M
Noodles & Company announced it has entered into an agreement to purchase 16 franchised Noodles & Company restaurants for approximately $13.4M. The acquisition is expected to close in early July. The 16 locations included in the agreement, operated by long-time franchise partner, Sagamore Dining Partners, LLC, are located primarily in the greater Indianapolis area. All of the Noodles & Company restaurants being acquired will remain open for business during the transition.
News For NDLS From The Last 14 Days
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August 15, 2014
17:02 EDTNDLSStocks end week slightly higher despite flare-up in Russian tensions
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August 14, 2014
16:30 EDTNDLSOn The Fly: Closing Wrap
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12:30 EDTNDLSOn The Fly: Midday Wrap
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11:40 EDTNDLSRed Robin, Noodles & Company crumble after earnings misses
Shares of casual dining companies Red Robin Gourmet Burgers (RRGB) and Noodles & Company (NDLS) are crumbling after both reported lower than anticipated second quarter results and projected modest outlooks for the rest of 2014. RED ROBIN: Red Robin's reported adjusted earnings per share of 68c for Q2, while analysts' had a consensus forecast of 90c. The company's Q2 revenue was $256.1M, which fell below analysts' consensus of $263.27M. Comparable restaurant revenue increased 1.2% for the quarter. The company's CEO Steve Carley said that Red Robin remains cautious in the near term but is confident in the initiatives it has in place to generate long-term value. The franchise sees FY14 comparable restaurant growth in the low single digits. The company also plans to remodel at least 65 Red Robin restaurants as part of its brand transformation initiative as well as expand patio seating in a few locations. During the company's conference call, Red Robin said that it is "cautiously optimistic" regarding its FY14 expectations. The franchise said it was disappointed in its Q2 results and noted that its market strategy fell short. Red Robin anticipates that the macro-environment will not provide any lift for the company in the immediate future. The franchise sees revenues in remodeled restaurants to continue to build later this fall and foresees "somewhat strong" comp revenue growth in Q4. Red Robin said it sees Q3 EPS growth to be about flat. NOODLES & COMPANY: Another casual dining franchise, Noodles & Company, reported lower than expected earnings and cut its 2014 outlook in response to industry trends. The company's Q2 adjusted EPS of 12c fell below analysts' 15c consensus. The company's Q2 revenue was $99.5M, which was lower than analysts' consensus of $102.9M. Comparable restaurant sales, when adjusted for the Easter holiday shift, increased 0.3% for company-owned restaurants and 0.2% system-wide. In regards to guidance, Noodles & Company lowered its FY14 adjusted EPS view to flat with prior year. The company's Chairman and CEO Kevin Reddy said, "We are seeing modest top line momentum and are making the right investments for the business long-term. However, given results during the first half of the year, we believe it is judicious to temper our 2014 outlook relative to prior expectations." PRICE ACTION: During late morning trading, shares of Red Robin fell $13.72, or 21.25% to $ 50.83, while Noodles & Company dropped $5.27, or 21% to $19.94.
10:53 EDTNDLSHigh option volume stocks
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09:11 EDTNDLSOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Kohl's (KSS), up 2.5%... Plug Power (PLUG), up 10%... Perrigo (PRGO), up 4.5%. HIGHER: Aruba Networks (ARUN), up 3% after shares upgraded at Stifel... KaloBios (KBIO), up 7.9% after publication shows EphA3 as target for anticancer therapy... Supernus (SUPN), up 4.4% after receiving FDA fast track designation for SPN-810. DOWN AFTER EARNINGS: Noodles & Company (NDLS), down 22%... Vipshop (VIPS), down 5.8%. LOWER: ExOne (XONE), down 10.7%, Voxeljet (VJET), down 6.6%, after earnings reports. Peers in the 3D space are lower as well, with Stratasys (SSYS) down 1% and 3D Systems (DDD) down 0.2%... Enphase Energy (ENPH), down 2.6% after filing to sell common stock for holders... InterMune (ITMN), down 3% after downgraded at Goldman following yesterday's advance on Bloomberg report that the company received takeover bids from Sanofi (SNY), Roche (RHHBY).
August 13, 2014
18:55 EDTNDLSOn The Fly: After Hours Movers
UP AFTER EARNINGS: Aspen Technology (AZPN), up almost 3% after reporting better than expected Q4 results and giving Q1 and FY15 guidance on its earnings conference call. ALSO HIGHER: Kindred Healthcare (KND), up more than 1% after Point72 reported a 5.1% passive stake in the company. DOWN AFTER EARNINGS: Cisco Systems (CSCO), down 1.2% after reporting Q4 results, giving Q1 guidance, and announcing that it is cutting 8% of its workforce... Noodles & Company (NDLS), down 21.2% after reporting Q2 results and "tempering" its FY14 outlook... Conatus Pharmaceuticals (CNAT), down 13.6% after reporting Q2 results and announcing it is deferring the results of its NAFLD/NASH clinical trial to 1Q15. ALSO LOWER: Amgen (AMGN), down 2.15% after announcing the Phase 3 Kyprolis FOCUS clinical trial did not meet its primary endpoint.
16:04 EDTNDLSNoodles & Company drops 15% after 'tempering' 2014 outlook
16:04 EDTNDLSNoodles & Company hits fresh life low after results
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16:03 EDTNDLSNoodles & Company lowers FY14 adjusted EPS view to flat with prior year
Consensus 49c. Chairman and CEO of Noodles & Company Kevin Reddy said, "We are seeing modest top line momentum and are making the right investments for the business long-term. However, given results during the first half of the year, we believe it is judicious to temper our 2014 outlook relative to prior expectations." For 2014, management expects 45 to 50 new company-owned restaurant openings, reflecting 14% to 16% unit growth; 10 to 15 new franchise restaurant openings, reflecting 16% to 24% unit growth; Flat comparable restaurant sales growth; and flat adjusted diluted earnings per share growth.
16:01 EDTNDLSNoodles & Company reports Q2 adjusted EPS 12c, consensus 15c
Reports Q2 revenue $99.5M, consensus $102.9M. Comparable restaurant sales decreased 0.6% for company-owned restaurants, 1.2% for franchise restaurants and 0.7% system-wide. Comparable restaurant sales, when adjusted for the Easter holiday shift, increased 0.3% for company-owned restaurants and 0.2% system-wide.
15:27 EDTNDLSNoodles & Company August 25 straddle priced for 12.6% move into Q2
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15:05 EDTNDLSNotable companies reporting after market close
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10:43 EDTNDLSOptions with increasing implied volatility
Options with increasing implied volatility: PSEC CSCO XONE NDLS
August 12, 2014
11:53 EDTNDLSNoodles & Company August volatility spikes into Q2 and outlook
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11:10 EDTNDLSHigh option volume stocks
High option volume stocks: ACM KATE ARO TKMR ODP ICPT GPI FENG LINTA NDLS

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