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Stock Market & Financial Investment News

News Breaks
March 25, 2014
11:45 EDTBKW, WEN, JACK, MCD, SONCSonic 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 23, 2015
11:23 EDTMCDMcDonald's says took U.S. price increase at end of May
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11:18 EDTMCDMcDonald's reiterates plan to return $8B-$9B to shareholders in 2015
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11:16 EDTMCDMcDonald's sees net addition of about 300 restaurants in 2015
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11:04 EDTMCDMcDonald's sees positive global comparable sales in Q3
McDonald's President and CEO Steve Easterbrook said earlier that the company has made "meaningful progress" since announcing the initial steps of its turnaround plan in early May. "To position the business for long-term growth, we've undergone significant organizational change and are streamlining our global resources to improve our efficiency and effectiveness. While our second quarter results were disappointing, we are seeing early signs of momentum. Looking ahead to third quarter, we expect positive global comparable sales led by growth in our newly-created International Lead Market segment and China's continuing recovery from the 2014 APMEA supplier issue," Easterbrook added.
08:00 EDTMCDMcDonald's reports Q2 global comparable sales down 0.7%
Reports Q2 global comparable sales down 0.7%, reflecting negative guest traffic in all major segments. Reports Q2 US comparable sales down 2%, reflecting negative guest traffic as the featured products and promotions did not achieve expected consumer response amid ongoing competitive activity. Reports Q2 Europe comparable sales up 1.2% driven by solid performance in the U.K. and Germany, partly offset by negative results in France. Reports Q2 APMEA comparable sales down 4.5%, primarily due to the impact of prolonged, broad-based consumer perception issues in Japan along with negative performance in China and other Asian markets, partly offset by strong performance in Australia.
07:59 EDTMCDMcDonald's reports Q2 EPS $1.26, consensus $1.24
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July 22, 2015
15:26 EDTMCDNotable companies reporting before tomorrow's open
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13:51 EDTMCDMcDonald's technical comments before results
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13:19 EDTMCDEarnings Watch: McDonald's to report Q2 earnings as company seeks revival
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08:25 EDTMCDMcDonald's July weekly volatility elevated into Q2 and outlook
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July 21, 2015
18:29 EDTMCDMcDonald's may offer all-day breakfast nationwide in October, WSJ reports
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July 20, 2015
17:34 EDTWENWendy's completes purchase of 18.42M shares from Trian Group
As previously reported, on June 2, Wendy's and the Trian Group entered into a purchase agreement. At Wendy's request, the Trian Group agreed not to tender or sell any of their shares in the offer and instead agreed, pursuant to the purchase agreement, to sell a pro rata amount of their shares of common stock to the company at a purchase price per share equal to the purchase price determined and paid in the offer, following the completion of the offer. Pursuant to the purchase agreement, on July 17, the company acquired 18.42M shares of common stock, in the aggregate, from the Trian Group at a price of $11.45 per share, for an aggregate purchase price of approximately $210.9M. Trian Group currently holds approximately 19.56% of the outstanding shares of common stock. As such, the Trian Group has completed its previously announced plan to sell a sufficient number of shares to reduce its holdings in the company by at least 20% in order to avoid adverse federal income tax consequences in connection with the transaction. Following completion of the transaction, the Trian Group remains the company’s largest stockholder based on current share ownership information on file with the SEC. In addition, Nelson Peltz continues to serve as the chairman of the board of the company, Peter May continues to serve as vice chairman of the board of the company and Edward Garden continues to serve as a director of the company.
08:24 EDTMCDMcDonald's U.S. outlook improving, says RBC Capital
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July 17, 2015
17:16 EDTWENWendy's completes previously announced share purchase from Trian
On July 17, The Wendy’s Company completed the previously announced purchase of 18,416,313 shares of its common stock, par value $0.10 per share, from Nelson Peltz, Peter W. May and Edward P. Garden , certain of their family members and affiliates, investment funds managed by Trian Fund Management and the general partner of certain of those funds at a purchase price of $11.45 per share, for an aggregate purchase price of approximately $210.9M.
July 16, 2015
19:32 EDTMCDMcDonald's franchisees indicate lowest 6-month outlook in 12 years, WSJ says
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10:00 EDTMCD, JACKOn The Fly: Analyst Initiation Summary
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July 15, 2015
16:22 EDTJACKJack in the Box initiated with a Buy at BTIG
Target $105.
16:20 EDTMCDMcDonald's initiated with a Neutral at BTIG
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09:07 EDTMCDMcDonald's turnaround to take years, Peltz says on CNBC
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09:06 EDTMCD, WENPeltz says if didn't own Wendy's, McDonald's may be investment
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