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Stock Market & Financial Investment News

News Breaks
July 24, 2013
11:36 EDTPNRAPanera falls after disappointing results, lowered outlook
Shares of national bakery-cafe operator and franchiser Panera Bread (PNRA) are falling after the company reported disappointing second quarter results and issued a weak outlook for the third quarter and full year. WHAT’S NEW: Last night, Panera reported second quarter earnings per share of $1.74 and revenue of $589M. Consensus estimates for EPS and revenue were $1.77 and $596.02M, respectively. The company also issued disappointing guidance for the third quarter and full year. They forecast third quarter EPS of $1.32-$1.36 against analyst views of $1.46. Full year EPS was lowered to $6.75-$6.85, consensus $7.05. The company said its lower EPS target reflects lower than previously expected growth in company-owned comparable bakery-cafe sales. The company lowered its target for company-owned same cafe sales growth for fiscal 2013 to 3.0% to 5.0%, from its previous target of 4.0% to 5.0%. ANALYST REACTION: In a note to investors, Stifel analyst Paul Westra said Panera shares appear to be fairly valued despite the company's still impressive long-term growth prospects. Stifel reiterated its Hold rating on the restaurant operator's stock. PRICE ACTION: In late morning trading, Panera fell $13.36 or 7.34% to $168.65 on more than three times the average daily volume.
News For PNRA From The Last 14 Days
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May 19, 2015
09:58 EDTPNRAOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Ascena Retail (ASNA) upgraded to Outperform from Market Perform at FBR Capital... Enphase Energy (ENPH) upgraded to Strong Buy from Buy at Needham... Fifth Third (FITB) upgraded on Vantiv outlook at Oppenheimer... Hortonworks (HDP) upgraded to Overweight from Equal Weight at Barclays... MasterCard (MA) upgraded to Overweight from Sector Weight at Pacific Crest... NetEase.com (NTES) upgraded to Buy from Neutral at Citigroup... Panera Bread (PNRA) upgraded to Outperform from Market Perform at Cowen... Potash (POT) upgraded to Market Perform from Underperform at Cowen... Reed Elsevier (RUK) upgraded to Buy from Neutral at Goldman... Royal Caribbean (RCL) upgraded to Overweight from Neutral at JPMorgan... Sysco (SYY) upgraded at Credit Suisse... THL Credit (TCRD) upgraded to Buy from Hold at Deutsche Bank... Take-Two (TTWO) upgraded to Buy from Neutral at Sterne Agee CRT... Tempur Sealy (TPX) upgraded on Sealy gross margin improvement at Longbow... TriState Capital (TSC) upgraded to Outperform from Market Perform at Keefe Bruyette... Xilinx (XLNX) upgraded to Overweight from Sector Weight at Pacific Crest.
07:27 EDTPNRAPanera Bread upgraded to Outperform from Market Perform at Cowen
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