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Stock Market & Financial Investment News

News Breaks
August 5, 2014
10:34 EDTPNRAPanera slides following CFO resignation
Shares of fast casual restaurant operator Panera Bread (PNRA) are falling after the company announced that CFO Roger Mathews is resigning from his position. WHAT'S NEW: Panera Bread announced last night that Roger Matthews, executive vice president and CFO, resigned his position to pursue other opportunities. Effective August 6, Bill Moreton, the executive vice chairman of the company, will serve as Interim CFO as the company conducts a search for a full-time replacement. Moreton has previously held the positions of CEO, Co-CEO and CFO of Panera Bread. ANALYST OPINION: Commenting on the announcement, Oppenheimer analyst Brian Bittner said that while unforeseen management changes are never ideal for shareholders, he feels that this news is not worrisome. He said that shareholders should not perceive this announcement as a sign of declining financials or a new directional strategy. Bittner believes that long-term investors should think about purchasing Panera at current levels. The firm maintains an Outperform rating on the shares. Likewise, Bernstein analyst Sara Senatore said that Moreton has shown that he is a competent executive both in terms of operations and communications. The firm kept an Outperform rating on the stock. PRICE ACTION: During morning trading, shares of Panera were down $1.23, or 0.8%, to $149.80.
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September 9, 2014
15:07 EDTPNRAPanera Bread announces integration With Apple Pay
Panera Bread (PNRA) announced an integration with Apple Pay, Apple's (AAPL) new mobile payment system for iPhone 6, iPhone 6 Plus, or Apple Watch. Panera Bread will accept Apple Pay in all participating bakery-cafes in the United States once Apple Pay hits the market this fall. In preparation for the rollout, Panera will integrate Apple Pay into the Panera Bread iOS App and install VeriFone (PAY) payment terminals in company owned and franchise bakery-cafes across the United States to support contactless and Near Field Communication payments.
13:58 EDTPNRAStarbucks, Groupon, OpenTable apps among those to integrate Apple Pay
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