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Notable news items/price action over the past twenty-four hours.

  • Despite the continuous upward trend in wheat prices, PNRA and BAGL gained on strong volume.
  • PZZA and DPZ are up despite cheese prices gaining 8.2% week-over-week
  • GMCR declined on accelerating volume.  SBUX wants K-Cups’ 70% share of the instant coffee market.
  • A HedgeyeEdge favorite, EAT, surged 11.3% on accelerating volume after investor confidence in the turnaround story grew.
  • Other casual dining names gained on the solid results from EAT. CAKE, DIN, TXRH, BWLD and CPKI all saw a gain in share prices.  I find that interesting given that we know, via Malcolm Knapp’s casual dining sales data, that casual dining sequentially slowed during 4Q10.
  • MCD share price ticked up slightly on the day with weak volume.
  • MCD has announced that it will accept contactless payment at its 1,200 restaurants throughout the UK, making it one of the first tier-one merchants to implement the technology in the country.
  • According to adage.com, the most “checked-in” merchant last week was Starbucks with 151,000 last week, followed by McDonald's with 51,000, according to Foursquare check-in data.

TALES OF THE TAPE: PNRA, BAGL, PZZA, DPZ, GMCR, SBUX, EAT, CAKE, DIN, TXRH, BWLD, CPKI, MCD - stocks 126

Howard Penney

Managing Director