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Stock Market & Financial Investment News

News Breaks
August 14, 2014
11:40 EDTRRGB, NDLSRed Robin, Noodles & Company crumble after earnings misses
Shares of casual dining companies Red Robin Gourmet Burgers (RRGB) and Noodles & Company (NDLS) are crumbling after both reported lower than anticipated second quarter results and projected modest outlooks for the rest of 2014. RED ROBIN: Red Robin's reported adjusted earnings per share of 68c for Q2, while analysts' had a consensus forecast of 90c. The company's Q2 revenue was $256.1M, which fell below analysts' consensus of $263.27M. Comparable restaurant revenue increased 1.2% for the quarter. The company's CEO Steve Carley said that Red Robin remains cautious in the near term but is confident in the initiatives it has in place to generate long-term value. The franchise sees FY14 comparable restaurant growth in the low single digits. The company also plans to remodel at least 65 Red Robin restaurants as part of its brand transformation initiative as well as expand patio seating in a few locations. During the company's conference call, Red Robin said that it is "cautiously optimistic" regarding its FY14 expectations. The franchise said it was disappointed in its Q2 results and noted that its market strategy fell short. Red Robin anticipates that the macro-environment will not provide any lift for the company in the immediate future. The franchise sees revenues in remodeled restaurants to continue to build later this fall and foresees "somewhat strong" comp revenue growth in Q4. Red Robin said it sees Q3 EPS growth to be about flat. NOODLES & COMPANY: Another casual dining franchise, Noodles & Company, reported lower than expected earnings and cut its 2014 outlook in response to industry trends. The company's Q2 adjusted EPS of 12c fell below analysts' 15c consensus. The company's Q2 revenue was $99.5M, which was lower than analysts' consensus of $102.9M. Comparable restaurant sales, when adjusted for the Easter holiday shift, increased 0.3% for company-owned restaurants and 0.2% system-wide. In regards to guidance, Noodles & Company lowered its FY14 adjusted EPS view to flat with prior year. The company's Chairman and CEO Kevin Reddy said, "We are seeing modest top line momentum and are making the right investments for the business long-term. However, given results during the first half of the year, we believe it is judicious to temper our 2014 outlook relative to prior expectations." PRICE ACTION: During late morning trading, shares of Red Robin fell $13.72, or 21.25% to $ 50.83, while Noodles & Company dropped $5.27, or 21% to $19.94.
News For RRGB;NDLS From The Last 14 Days
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October 10, 2014
10:01 EDTNDLSOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 2U (TWOU) initiated with an Outperform at Pacific Crest... Bloomin' Brands (BLMN) initiated with an Outperform at BMO Capital... Brinker (EAT) initiated with a Market Perform at BMO Capital... Buffalo Wild Wings (BWLD) initiated with an Outperform at BMO Capital... Chipotle (CMG) initiated with a Market Perform at BMO Capital... Chuy's (CHUY) initiated with a Market Perform at BMO Capital... Darden (DRI) initiated with a Market Perform at BMO Capital... EMC (EMC) initiated with a Buy at Jefferies... EPR Properties (EPR) initiated with a Buy at BofA/Merrill... HP (HPQ) initiated with a Hold at Jefferies... IBM (IBM) initiated with an Underperform at Jefferies... McDermott (MDR) initiated with an In-Line at Imperial Capital... NetApp (NTAP) initiated with a Hold at Jefferies... New Residential (NRZ) initiated with a Neutral at Piper Jaffray... Nimble Storage (NMBL) initiated with a Buy at Jefferies... Noodles & Company (NDLS) initiated with an Outperform at BMO Capital... PDC Energy (PDCE) initiated with an Overweight at Stephens... Panera Bread (PNRA) initiated with a Market Perform at BMO Capital... Pioneer Natural (PXD) initiated with an Outperform at Imperial Capital... Resource America (REXI) initiated with a Buy at MLV & Co.... Rex Energy (REXX) initiated with an Overweight at Stephens... Seagate (STX) initiated with a Buy at Jefferies... Silicon Motion (SIMO) initiated with a Buy at Brean Capital... Texas Roadhouse (TXRH) initiated with a Market Perform at BMO Capital... W.P. Carey (WPC) initiated with a Neutral at BofA/Merrill... Wayfair (W) initiated with a Buy at Janney Capital...Western Digital (WDC) initiated with a Buy at Jefferies... Yelp (YELP) initiated with a Buy at Sterne Agee.
October 9, 2014
16:50 EDTNDLSNoodles & Company initiated with an Outperform at BMO Capital
Target $25.
October 8, 2014
14:15 EDTRRGBRed Robin recent weakness a buying opportunity, says Raymond James
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October 7, 2014
10:02 EDTNDLSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Air France-KLM (AFLYY) upgraded to Overweight from Underweight at JPMorgan... Alcobra (ADHD) upgraded to Outperform at FBR Capital... Alon USA Partners (ALDW) upgraded to Buy from Neutral at Citigroup... Becton Dickinson (BDX) upgraded to Buy from Hold at Stifel... CNOOC (CEO) upgraded at Bernstein... CTC Media (CTCM) upgraded to Buy from Hold at Deutsche Bank... CVR Refining (CVRR) upgraded to Buy from Neutral at Citigroup... CalAmp (CAMP) upgraded to Outperform from Neutral at Macquarie... China Unicom (CHU) upgraded to Overweight from Equal Weight at Barclays... Crown Holdings (CCK) upgraded at Macquarie... Dick's Sporting (DKS) upgraded to Buy from Neutral at Goldman... Fortuna Silver Mines (FSM) upgraded to Outperformer from Sector Performer at CIBC... Franco-Nevada (FNV) upgraded to Buy from Hold at TD Securities... Horsehead Holding (ZINC) upgraded to Outperform from Market Perform at FBR Capital... Ingersoll-Rand (IR) upgraded to Buy from Neutral at Goldman... IntercontinentalExchange (ICE) upgraded to Buy from Neutral at Citigroup... International Paper (IP) upgraded at BofA/Merrill... Leidos (LDOS) upgraded to Neutral from Underperform at Credit Suisse... Lennox (LII) upgraded to Positive from Neutral at Susquehanna... MGM Resorts (MGM) upgraded to Buy from Hold at Deutsche Bank... Natus Medical (BABY) upgraded to Outperform at William Blair... Noodles & Company (NDLS) upgraded to Buy from Hold at Jefferies... Phillips 66 (PSX) upgraded to Buy from Neutral at Citigroup... RockTenn (RKT) upgraded to Buy from Neutral at BofA/Merrill... Smith & Nephew (SNN) upgraded to Hold from Sell at Societe Generale... Sotheby's (BID) upgraded to Buy from Hold at Craig-Hallum... Sun Life Financial (SLF) upgraded to Overweight from Equal Weight at Barclays... WellCare (WCG) upgraded at Sterne Agee... Yamana Gold (AUY) upgraded to Neutral from Underweight at HSBC.
07:51 EDTNDLSNoodles & Company upgraded to Buy from Hold at Jefferies
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05:42 EDTNDLSNoodles & Company upgraded to Buy from Hold at Jefferies
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