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Stock Market & Financial Investment News

News Breaks
July 10, 2014
11:40 EDTPBPB, COSI, PNRAPotbelly plummets to 52-week low after outlook falls short
Shares of sandwich maker Potbelly (PBPB) are tanking after the company's second quarter and fiscal 2014 outlook fell significantly short of analysts' consensus estimates. WHAT'S NEW: Last night, Potbelly forecast Q2 adjusted earnings per share of approximately 6c and revenue of approximately $83.6M, far short of the consensus estimate of 12c and $86.66M, respectively. The company expects to report a decrease in company-operated comparable store sales of 1.6%, or a decrease of 0.9% when excluding the shift of the Easter holiday from the first fiscal quarter to the second fiscal quarter. WHAT'S NOTABLE: Based on the preliminary results for its second fiscal quarter, management revised its financial outlook for fiscal 2014. FY14 adjusted EPS is now expected to be 18c-21c, far below the consensus of 34c. For the fiscal year, Potbelly sees flat to negative low single-digit comparable store sales, compared to its previous guidance of low single-digit company-operated comparable store sales growth. PRICE ACTION: In late morning trading, Potbelly fell $3.50, or about 24%, to $11.15 on nearly seven times its average daily trading volume. Earlier in the session, the stock hit a new 52-week low of $10.95. Including today's pull back, the stock is down approximately 64% from its first day of public trading. Potbelly opened for trade at $28.66 on October 4 of last year after pricing its initial public offering at $14.00 per share. OTHERS TO WATCH: Other companies in the sandwich space include Panera Bread (PNRA) and Cosi (COSI), both of which are down about 1%.
News For PBPB;PNRA;COSI From The Last 14 Days
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April 16, 2015
12:41 EDTPNRAAnalysts more upbeat on Panera after activist prompts buyback hike
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10:00 EDTPNRAOn The Fly: Analyst Initiation Summary
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10:00 EDTPNRAOn The Fly: Analyst Upgrade Summary
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09:18 EDTPNRAOn The Fly: Pre-market Movers
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08:18 EDTPNRAPanera Bread price target raised to $200-$210 from $180-$190 at Wells Fargo
Wells Fargo increased its price target on Panera as the firm thinks the involvement of activist investors could cause the company to use a significant amount of its leverage, focus more on cost controls, and use its capital more prudently. The firm believes that the news could provide material support to the stock, and it estimates that the company could undertake steps which may raise its 2015 EPS by about 5%. Wells keeps an Outperform rating on the shares.
07:44 EDTPNRAPanera Bread price target raised to $205 from $185 at UBS
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07:43 EDTPNRAPanera Bread upgraded at Raymond James
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07:19 EDTPNRAOptions expected to be active: NFLX SNDK UNH PNRA C GS SLB
06:20 EDTPNRAPanera Bread upgraded to Market Perform from Underperform at Raymond James
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April 15, 2015
18:56 EDTPNRAOn The Fly: After Hours Movers
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17:43 EDTPNRAPanera Bread up nearly 10% after raising share repurchase program
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17:24 EDTPNRAPanera Bread says recently engaged in talks with Luxor Capital Group
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17:24 EDTPNRAPanera Bread initiated with a Neutral at Guggenheim
17:22 EDTPNRAPanera Bread raises share repurchase program to $750M
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10:00 EDTPNRAOn The Fly: Analyst Initiation Summary
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06:04 EDTPNRAPanera Bread initiated with a Market Perform at Cowen
Target $170.
April 13, 2015
13:31 EDTPNRAPanera Bread appoints Michael Bufano as CFO
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April 9, 2015
06:35 EDTCOSICosi reports reports Q1 comparable restaurant sales up 1.2%
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April 8, 2015
16:04 EDTPBPBPotbelly appoints Michael Coyne as CFO
Potbelly announced the appointment of Michael Coyne as its new CFO, effective May 1. Coyne will oversee all financial functions and will also be charged with positively impacting Potbelly's analytical, productivity, and risk assessment capabilities. Most recently, Coyne served as SVP, Small Business at CNA Financial.
April 6, 2015
06:37 EDTCOSICosi completes Hearthstone merger
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