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Stock Market & Financial Investment News

News Breaks
March 25, 2014
11:45 EDTSONC, BKW, WEN, JACK, MCDSonic soars to 52-week high after quarterly profit tops estimates
Shares of Sonic (SONC), which operates and franchises a chain of drive-in restaurants, are soaring after the company's second quarter profit topped expectations. It also predicted fiscal 2014 earnings growth of 14%-15%. WHAT'S NEW: Last night, Sonic reported second quarter earnings per share of 7c and revenue of $109.7M, compared to expectations of 6c and $110.94M, respectively. The company reported system-wide same-store sales increased 1.4%, consisting of an increase of 1.5% at franchise drive-ins and an increase of 1.3% at company drive-ins. WHAT'S NOTABLE: Sonic forecast FY14 EPS growth of 14%-15%, compared to consensus of 82c. It also predicted FY14 positive same-store sales in the low single digit range. Company drive-ins are expected to perform above the system average in the latter half of the fiscal year as new digital point-of-purchase technology and a new point-of-sale system are implemented. Sonic estimates it will repurchase $80M of stock across the fiscal year utilizing existing cash on hand and free cash flow. ANALYST REACTION: This morning, research firm Stephens repeated its Overweight rating and $25 price target on Sonic shares. Stephens sees the company expanding margins in the coming years and expects Sonic's improving menu and product pipeline to increase potential upside for the stock for the remainder of the year. PRICE ACTION: In late morning trading, Sonic soared $2.13, or 10.2%, to $23.05 on more than three times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week high of $23.51. The stock is up over 96% over the past twelve months. OTHERS TO WATCH: Other companies in the quick service dining space include Jack in the Box (JACK), Burger King (BKW), McDonald's (MCD) and Wendy's (WEN).
News For SONC;JACK;BKW;MCD;WEN From The Last 14 Days
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July 1, 2015
18:34 EDTMCDMcDonald's tests local food options, Crain's says
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08:33 EDTWENWendy's announces preliminary results of tender offer
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June 26, 2015
08:50 EDTWENWendy's 3M share Block Trade priced at $11.43
Jefferies acted as sole book running manager for the offering.
06:33 EDTMCDMcDonald’s says child customers drinking less soda, eating more fruit
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June 25, 2015
06:12 EDTMCDMcDonald's wants to sell 413 Taiwan stores to franchise operator, Reuters says
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June 23, 2015
13:37 EDTSONCOn The Fly: Top stock stories at midday
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10:46 EDTSONCSonic sees $70M-$80M of free cash flow in FY15
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09:14 EDTSONCOn The Fly: Pre-market Movers
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08:45 EDTSONCSonic revenue momentum impressive, says Sterne Agee CRT
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07:53 EDTSONCSonic reported 'very solid' results, says Oppenheimer
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07:15 EDTSONCOppenheimer to hold a conference
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June 22, 2015
19:00 EDTSONCOn The Fly: After Hours Movers
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17:46 EDTSONCSonic slides over 5% after reporting Q3 results and guidance
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16:07 EDTSONCSonic sees Q4 positive same-store sales in the mid-single digit range
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16:05 EDTSONCSonic sees 27%-29% EPS growth in FY15
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16:04 EDTSONCSonic reports adjusted Q3 EPS 36c, consensus 36c
Reports Q3 revenue $164.7M, consensus $164.17M. Reports Q3 system same-store sales increased 6.1%, consisting of a 6.1% same-store sales increase at franchise drive-ins and an increase of 5.5% at company drive-ins.
15:00 EDTSONCNotable companies reporting after market close
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13:46 EDTSONCSonic technical notes before earnings news
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June 19, 2015
13:34 EDTSONCSonic Automotive management to meet with Stephens
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09:35 EDTWENWendy's 10M share Spot Secondary priced at $11.43 (pre-open)
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