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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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August 4, 2015
07:09 EDTPNRACredit Suisse to hold a conference
4th Annual Gaming, Lodging, Leisure & Restaurants Conference is being held in New York on August 4-6.
July 30, 2015
08:38 EDTPNRAPanera Bread price target raised to $245 from $210 at Cowen
Cowen raised its price target on Panera Bread to $245 from $210 as its results indicated its initiatives were showing signs of traction. Cowen reiterated its Outperform rating on Panera Bread shares.
08:18 EDTPNRAPanera Bread has reached positive turning point, says Bernstein
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July 29, 2015
10:07 EDTPNRAHigh option volume stocks:
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09:13 EDTPNRAOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Buffalo Wild Wings (BWLD), up 11.4%... Panera Bread (PNRA), up 5.9%... Sonus Networks (SONS), up 7.2%... Gilead Sciences (GILD), up 3.6%... U.S. Steel (X), up 3.3%... Synchronoss (SNCR), up 2.8%. ALSO HIGHER: Cytec Industries (CYT), up 26.7% after being acquired by Solvay (SVYZY)... MagneGas (MNGA), up 7.8% after receiving multiple orders... AK Steel (AKS), up 5.2% after being upgraded to Outperform from Neutral at Macquarie. DOWN AFTER EARNINGS: Yelp (YELP), down 23.6%... VASCO Data Security (VDSI), down 13.3%... Tableau Software (DATA), down 16%... Twitter (TWTR), down 11.4%... Akamai Technologies (AKAM), down 7.9%.
07:27 EDTPNRAPanera Bread initiatives bearing fruit, says Bernstein
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July 28, 2015
19:10 EDTPNRAOn The Fly: After Hours Movers
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17:49 EDTPNRAPanera Bread up 8% following Q2 results
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17:04 EDTPNRAPanera Bread CEO says 'increased confidence in our strategic plan'
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17:03 EDTPNRAPanera Bread backs FY15 EPS growth of flat to down mid- to high-single digits
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17:00 EDTPNRAPanera Bread reports Q2 EPS $1.61, consensus $1.63
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15:21 EDTPNRANotable companies reporting after market close
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15:17 EDTPNRAPanera Bread volatility elevated into Q2 and outlook
Panera Bread August call option implied volatility is at 34, September is at 26; compared to its 52-week range of 17 to 36, suggesting large near term price movement into the expected release of Q2 results on July 29.
July 26, 2015
13:43 EDTPNRAPanera Bread shares could advance 25%, Barron's says
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