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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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April 17, 2015
16:31 EDTPNRAStocks end week lower amid earnings reports, fear about Greece, China
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April 16, 2015
16:21 EDTPNRAOn The Fly: Top stock stories for Thursday
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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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