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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.
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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