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News For YUM;SINA;SOHU;SBUX;COH;BIDU From The Last 14 Days
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November 23, 2015
10:54 EDTYUMBattleground: Analysts vary widely in assessing E. coli impact on Chipotle
Research firms had very different views on Chipotle's (CMG) outlook after the company announced late Friday afternoon that six new cases of E coli linked to its restaurants had been identified in four additional states, triggering a 12.5% decline in the shares. JPMorgan wrote that the selloff in the stock was overdone, as the E.Coli outbreak should have only "a limited impact" on the company's results. Similarly, research firm William Blair does not expect the casual dining company's results to be meaningfully impacted by the news. However, Bank of America/Merrill Lynch downgraded the stock two notches, to the firm's equivalent of a Sell, and Sterne Agee cut its rating on the name to Neutral, with both firms predicting that the new E.coli cases would meaningfully hurt Chipotle's results. BACKGROUND: Chipotle announced that it was informed by the federal government that six new cases of E.coli had been found which matched a previous strain of the disease linked to the company's restaurants. Five of the six newly diagnosed individuals reported that they had recently eaten at Chipotle restaurants, the company reported late Friday. The previous outbreak of E.coli had been restricted to Washington state and Oregon, but the new cases involved individuals living in California, New York, Minnesota and Ohio. BULLS: According to JPMorgan analyst John Ivankoe, the selloff in Chipotle's stock is overdone, as the E.coli outbreak seems to be "very contained and minor." The six additional cases do not mean that a "widespread outbreak" has occurred, wrote the analyst, who expects the company's comp sales to drop about 2% this quarter and to be flat in the first quarter of 2016 before rising 2% in both Q2 and Q3. Moreover, he believes that "numerous" initiatives that the company is undertaking could drive its comp sales higher. Ivankoe trimmed his price target on the name to $680 from $750 but kept an Overweight rating on the shares. William Blair analyst Sharon Zackfia says that if the 12.5% drop in the stock on Friday implies that 12.5% of the company's 2016 profits could be at risk, it appears investors expect the company's same-store sales to decline 7%-8% next year. Zackfia says that such a decline is "highly unlikely," and she believes that Chipotle's same-store sales could actually "firm" in 2016. The analyst, who expects the company to emerge "largely unscathed" from the outbreak, kept an Outperform rating on the stock. BEARS: BofA Merrill Lynch analyst Joseph Buckley lowered his rating on Chipotle two notches to Underperform, the firm's equivalent of Sell, from Buy. The new cases suggest that the E.coli outbreak is national and not just confined to the Pacific Northwest region, the analyst stated. Chipotle's same-store sales will drop 4% this quarter, as the short-term impact on the company could be magnified because it has benefited in the past from being seen as having high quality food, Buckley believes. However, the analyst added that he does not expect the E.coli outbreak to hurt the company over the longer term. Nonetheless, he slashed his price target on the name to $470 from $750. Also downgrading Chipotle was Sterne Agee analyst Lynne Collier, who cut her rating on the name to Neutral from Buy. The fact that the source of the problem has not been identified creates doubt about whether the bad news for the company is over, Collier believes. Although the new cases of E.coli appear to have occurred during the same time period as the previous reported cases, the company's sales could still be negatively affected for 6-12 months, wrote the analyst, who now expects its SSS to fall 2% this quarter. She lowered her 2016 EPS estimate for the company to $19.22 from $20.40. WHAT'S NOTABLE: Maxim Group upgraded its rating on Panera Bread (PNRA) to Buy from Hold, predicting that the restaurant operator would benefit from Chipotle's problems. The firm set a $210 price target on the shares. Yum! Brands' (YUM) Taco Bell and Jack in the Box's (JACK) Qdoba are other competitors of Chipotle. PRICE ACTION: In morning trading, Chipotle rebounded 6% to $568.33.
November 19, 2015
10:12 EDTSINASINA still gets no credit for portal business or portfolio, says Piper Jaffray
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10:02 EDTSINASINA turns negative on the session
The stock was last at $50.25, down fractionally on the session following an earlier run higher. At current price resistance is at the high of the day at $52.13. Support is at $49.68, the session low.
06:51 EDTSINASina viewed as best value play in sector, WSJ says
Sina (SINA) continues to be one of the Chinese Internet sector's best value plays and its prospects may improve even more it it furthers its relationship with Alibaba (BABA), Aaron Back of the Wall Street Journal's Heard on the Street says. The company is a majority owner of Weibo (WB), which reported upbeat earnings yesterday and which increased its MAU's this past quarter by 33% to 222M, Back says., on the other hand, is struggling, seeing ad revenue fall 14% year over year in the most recent quarter, the report says. The company aims to turn the business around by next year and will continue to rely on Alibaba, the Journal says. Reference Link
November 18, 2015
19:15 EDTSINAOn The Fly: After Hours Movers
UP AFTER EARNINGS: Keurig Green Mountain (GMCR), up 16.3%... (CRM), up 5.2%... SINA (SINA), up 2.3%... NetApp (NTAP), up marginally. ALSO HIGHER: KaloBios (KBIO), up 721.3% after the disclosure of purchases by Martin Shkreli and Anthion Partners... Vitae Pharmaceuticals (VTAE), up 23.3% after reporting top-line results from its Phase 1 trial of VTP-43742... DOWN AFTER EARNINGS: Semtech (SMTC), down 8.5% after reporting quarterly results. ALSO LOWER: Sunedison (SUNE), down 10.8% after Reuters reports that Blackstone is not interested in SunEdison investment.
16:35 EDTSINASINA reports Q3 EPS 39c, consensus 20c
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08:36 EDTSBUXStarbucks sees expanding gross margin in 2016
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08:20 EDTSBUXStarbucks sees no impact from economic weakness in China
Says lunch and afternoon offerings are increasingly relevant to customers. Says has started to roll out Evenings program in multiple stores. Says food makes up 20% of sales, up from 17% a few years ago. Says goal to have food make up 25% of sales. Says Morning Daypart sales up 22% over past five years. Says "a lot of opportunity" in lunch. Says breakfast sandwich sales have doubled over past three years. Says all comp growth in China is traffic. Says growing store portfolio in China at 30% per year clip. Sees no impact from economic weakness in China.
08:15 EDTSBUXStarbucks CFO: 1,500 stores in U.S. have Clover machines, up 50% y/y
Says 1,500 stores have Clover machines now in the U.S., up 50% year over year. Sees selling premium coffees in more international markets. Sees opening 500 larger-format reserve cafes. Says focusing on elevating tea presence in stores. Says Teavana brand driving revenue growth, contributing to comp growth. Plans to have Teavana in more Starbucks stores worldwide.
08:10 EDTSBUXStarbucks sees annual EPS growth of at least 15%
Sees annual revenue growth of about 10%. Says at mid-to-single digit comps each quarter. Says growing comps at 8%. Says playing "the long game." Says growth built on innovation, store experience. Says will see softness in topline unless it invests heavily in store experience. Says food is growing faster than beverage in U.S. stores. Says started to invest in "partner digital." Says customer-facing digital apps and technology is industry leading, though lagging behind in partner-facing digital technology. Says employee turnover is down. Comments taken from Morgan Stanley Global Consumer and Retail Conference.
07:19 EDTSBUXDunkin' Donuts tests mobile ordering app, Bloomberg reports
Dunkin' Donuts, owned by Dunkin' Brands (DNKN), is aiming to play catch up to Starbucks (SBUX) by testing a mobile ordering and delivery service in certain U.S. markets, Bloomberg reports. Starting Wednesday, 124 Dunkin' locations in Portland, Maine, will let customers order ahead of time through an app, the report says. Roughly 19 cafes in Dallas are also testing the delivery, with additional locations in Atlanta, Chicago, L.A., and Washington coming soon, the report says. Reference Link
05:40 EDTYUMStocks with implied volatility below IV index mean; YUM RAD
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November 17, 2015
07:52 EDTSBUXMorgan Stanley to hold a conference
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06:12 EDTBIDUBaidu to partner with Citic Bank to launch online bank, Financial Times reports
Baidu will partner with Citic Bank to launch an online bank, reports the Financial Times. China Citic Bank had suspended its shares in Shanghai and Hong Kong on Monday pending announcement of a "proposed external investment" while Baidu said it would make an announcement on Wednesday. Reference Link
05:33 EDTYUMStocks with implied volatility below IV index mean; YUM QCOM
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November 16, 2015
17:02 EDTSBUXPoint72 added to lululemon position, subtracted from Netflix position
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16:22 EDTSINACharles Chao reports 17.8% stake in SINA
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07:56 EDTYUMTaco Bell committed to serving cage-free eggs in U.S. restaurants by end of 2016
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06:11 EDTYUMTaco Bell to stop using eggs laid by caged hens by 2017, Reuters reports
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November 15, 2015
13:12 EDTBIDUBaidu shares look attractive on O2O potential, Barron's says
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