Notable news items/price action from the past twenty-four hours.
- COSI traded strongly into the end of the session to close higher on accelerating volume along with KKD, WEN, JACK, PEET, and YUM.
- GMCR, SBUX, and CBOU all underperformed as coffee prices continue to make headlines.
- YUM’s KFC unit is embroiled in a lawsuit with franchisees over grilled versus fried chicken and a judge has decided that the franchisee council, “has the right to engage in a substantive planning, review and approval process”.
- DRI’s share price gained yesterday, albeit on slowing volume, on the first day of their Investor Conference in Orlando. Red Lobster and Olive Garden comps were strong.
- TXRH was downgraded to Market Perform from Outperform at Raymond James. The stock declined on accelerating volume.