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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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January 23, 2015
08:01 EDTMCDMcDonald's CEO: 2014 was a challenging year for McDonald's around the world
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08:00 EDTMCDMcDonald's reports Q4 global comparable sales down 0.9%
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07:59 EDTMCDMcDonald's reports Q4 EPS $1.13, consensus $1.22
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07:30 EDTMCDMcDonald's held accountable for franchisee decisions, sued for racism, WSJ says
Ten former McDonald's employees are suing the company for wrongful termination related to allegedly racist hiring practices in two Virginia locations, reports the Wall Street Journal. The lawsuit tests the implications of the National Labor Relations Board's recent decision to hold McDonald's responsible for franchisee decisions. Reference Link
January 22, 2015
15:32 EDTMCDNotable companies reporting before tomorrow's open
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14:13 EDTMCDMcDonald's technical notes ahead of results
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12:25 EDTMCDEarnings Preview: McDonald's sees 7c-10c hit to Q4 EPS from China supplier issue
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January 21, 2015
17:27 EDTMCDMcDonald's franchisees expect sales decline, CNBC reports
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09:19 EDTMCDMcDonald's January volatility elevated into Q4
McDonald's January weekly call option implied volatility is at 48, February is at 25, March is at 21, June at 18; compared to its 26-week average of 18 according to Track Data, suggesting large near term price movement into the expected release of Q4 on January 23.
January 20, 2015
09:01 EDTJACKJack in the Box price target raised to $100 from $88 at Wunderlich
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January 15, 2015
06:36 EDTMCDMcDonald's experimenting with new concepts in Australia, Reuters says
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January 14, 2015
09:54 EDTMCDMcDonald's slips after Ackman says rumored investment 'unlikely'
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09:46 EDTMCDAckman says 'unlikely' to invest in McDonald's, Bloomberg reports
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06:55 EDTMCDMcDonald's Japan finds plant doesn't use plastic found in McNugget, Reuters says
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January 13, 2015
10:00 EDTSONCOn The Fly: Analyst Upgrade Summary
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06:46 EDTSONCSonic upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray upgraded Sonic to Overweight citing tis favorable view of the company's multi-layered process to growing sales. Piper raised its price target for shares to $38 from $28.
January 12, 2015
09:28 EDTJACKJack in the Box says refranchising effort 'substantially complete'
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09:19 EDTJACKMorgan Stanley events at 17th Annual ICR XChange Conference
Company Meetings to be held at the 17th Annual ICR XChange Conference in Orlando, Florida on January 12-13.
09:08 EDTJACKJefferies Events at 17th Annual ICR XChange Conference
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07:20 EDTJACKICR to hold a conference
17th Annual ICR XChange Conference is being held in Orlando, Florida on January 12-14.
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