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January 6, 2014
07:55 EDTWENWendy's downgraded at Janney Capital
As previously reported, Janney downgraded Wendy's to Neutral from Buy. The firm downgraded shares due to valuation and sees the potential for Q4 same-store-sales to be in line or slightly below Street expectations when it reports on January 14. Price target is $9.
News For WEN From The Last 14 Days
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February 9, 2016
16:53 EDTWENOn The Fly: Top stock stories for Tuesday
Stocks began the day sharply lower in the wake of a stock market selloff in Japan, but the domestic averages quickly gathered themselves and were in positive territory before long. From there stocks spent most of the day searching for direction but not moving far from the flat line. A late day rally made it seem like a green close was possible, but the averages could not hold and the market's losing streak continued, though the losses were modest. ECONOMIC EVENTS: In the U.S., wholesale sales dipped 0.3% in December, while inventories fell 0.1%. The Labor Department's Job Openings and Labor Turnover Survey showed job openings rose 261,000 in December to about 5.61M. In Asia, most major markets remain closed for Chinese New Year, but one of the exceptions, Japan, saw its main indexes plunge, as the Nikkei dropped 5.4% and the Topix fell 5.5%. COMPANY NEWS: Class A shares of 21st Century Fox (FOXA) declined 1.85% to $24.14 after the company reported lower than expected second quarter revenue and cut its 2016 outlook, while peer Viacom (VIAB) tumbled 21.5% to $32.86 following its own revenue miss. The largest name in the space, Disney (DIS), rose fractionally ahead of its own earnings report after the bell, but its shares dipped nearly 3% in after-hours trading following the company's report... Deutsche Bank (DB) continued its recent slide, falling another 1% in New York trading despite a report of co-CEO John Cryan telling employees in a memo that the bank is "absolutely rock-solid." The stock came well off its lows in afternoon trading, however, after Financial Times said the German giant is considering buying back several billion euros of its debt... Anadarko Petroleum (APC) lost 7.5% to $37.06 after slashing its dividend to 5c from 27c per share, with Anadarko Chairman and CEO Al Walker defending the step as "the appropriate action to take in the current environment." MAJOR MOVERS: Among the notable gainers was Boston Scientific (BSX), which advanced 5% to $16.87 after announcing that the government's Medicare and Medicaid will cover its Watchman cardiac device. Also higher was Salesforce (CRM), which gained 6.1% to $57.33 after being upgraded to Hold from Underperform at Jefferies, with the research firm arguing that Salesforce is seeing improved traction in enterprise and continued solid mid-market performance. In addition, Wyndham (WYN), Spirit Airlines (SAVE) and Masco (MAS) rose 2.6%, 5.8% and 8.2%, respectively, following their quarterly earnings reports. Among the noteworthy losers was ITC Holdings (ITC), which fell 1.85% to $38.65 after agreeing to be acquired by Fortis in a cash-and-stock deal valued at roughly $11.3B. Also lower were Regeneron (REGN) and Wendy's (WEN), which lost 6.3% and 4.3%, respectively, after announcing their quarterly results. INDEXES: The Dow fell 12.67, or 0.08%, to 16,014.38, the Nasdaq lost 14.99, or 0.35%, to 4,268.76, and the S&P 500 declined 1.23, or 0.07%, to 1,852.21.
09:25 EDTWENOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Wendy's (WEN), up 3.5%. ALSO HIGHER: ITC Holdings (ITC), up 1.1% after being acquired by Fortis for in a deal valued at $11.3B... Kinross Gold (KGC), up 2.9% after being upgraded to Outperform from Neutral at Credit Suisse... Boston Scientific (BSX), up 3.1% after announcing that Medicare will cover Watchman left atrial appendage closure Device. DOWN AFTER EARNINGS: Regeneron (REGN), down 7.2%... Twenty-First Century Fox (FOXA, FOX), down 6.7% and 2.6%, respectively... CVS Health (CVS), down 3.5%... Viacom (VIAB), down 3.2%. ALSO LOWER: Constant Contact (CTCT), down 3.3% after Bloomberg reported that Endurance International (EIGI) withdrew a $735M loan Monday that was intended to help fund its $1.1B takeover of the company... Paypal (PYPL), down 2.4% after announcing a Chief Technology Officer transition.
06:50 EDTWENWendy's reports preliminary Q4 adjusted EPS 12c, consensus 11c
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06:39 EDTWENWendy's to host investor day
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06:28 EDTWENWendy's sees long-term annual same-restaurant sales growth of 3%
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06:27 EDTWENWendy's sees FY18 adjusted EPS of greater than 20%
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06:26 EDTWENWendy's sees FY17 adjusted EPS growth in high-teens
Sees FY17 adjusted EBITDA to be approximately flat due to impact of anticipated sale of 315 company-operated restaurants during 2016. Sees FY17 CapEx $80M-$90M and free cash flow of $150M-$200M. Sees FY17 adjusted EBITDA margins of 32%-34%.
06:25 EDTWENWendy's expects reduction of 315 company-operated restaurants by end of 2016
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06:24 EDTWENWendy's sees FY16 adjusted EPS 35c-37c, consensus 36c
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06:23 EDTWENWendy's reimaged 450 total system restaurants in 2015
The company and its franchisees reimaged 450 total system restaurants and built 70 new restaurants in 2015, which has resulted in the reimaging of approximately 22 percent of the Wendy's North America system restaurants as of the end of 2015. The Wendy's system remains on schedule to reimage at least 60 percent of its North America restaurants by the end of 2020.
06:22 EDTWENWendy's says system optimization yields positive results
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06:21 EDTWENWendy's currently conducting external search for new CFO
The company announced in October that Chief Executive Officer Emil Brolick plans to retire from management duties with the company in May 2016. Chief Financial Officer Todd Penegor assumed the additional title of President in January and will succeed Brolick in the CEO role after a transition period beginning in the first quarter of 2016. The company expects that Brolick will continue to serve on the company's Board of Directors upon his retirement to ensure continuity of leadership and strategic focus for the company. The company is currently conducting an external search for a new CFO.
06:20 EDTWENWendy's sees Q4 same-restaurant sales up 4.8% at North America restaurants
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06:20 EDTWENWendy's expects strengthening two-year annual same-restaurant sales trends
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06:20 EDTWENWendy's reports 2015 restaurant average unit volumes up 3% to $1.64M
Reports 2015 North America system AUVs up 3% to $1.54M.
February 8, 2016
14:28 EDTWENNotable companies reporting before tomorrow's open
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13:26 EDTWENWendy's volatility elevated into Q4 and outlook
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February 2, 2016
11:39 EDTWENOptions with increasing call volume; FDC IMOS WEN IDTI HS GPR KORS HRS PNRA R CX

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