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Some interesting divergences in yesterday’s price action.

In quick service stocks yesterday:

  • Extremely light volume throughout the category with the exception of JACK
  • CMG and PNRA both up on low volume
  • JACK down 10% on high volume following a poor quarter with little in the way of a solution from management

In casual dining stocks yesterday:

  • More volume in this category yesterday with PFCB, TXRH, CHUX, and  MSSR all posting gains on strong volume
  • EAT also gained on the day, albeit on volume that fell below the thirty-day moving average, and has almost pared back the losses it suffered in stock price since its disappointing earnings release in late October. 
  • CBRL underperformed on the day following disappointing sales numbers in earnings along with conservative 2011 guidance released yesterday

TALES OF THE TAPE - qsr price

TALES OF THE TAPE - casual dining price

Howard Penney

Managing Director