Notable news items/price action from the past twenty-four hours.
- DRI is a “Buy” at current levels, according to JP Morgan. The restaurant company is considering some “nontraditional opportunities” such as college campuses and airports, according to Darden executives during their annual investor-analyst day.
- MCD Japan SSS rose 2.2% in January. This is a significant sequential slow down from December’s +11.6% number.
- WEN share price gained on strong volume as the company’s plan to sell Arby’s and focus on its core business continues to be viewed positively by the investment community.
- DPZ shares rose on accelerating volume as expectations rose for pizza sales during the Super Bowl increased. According to media reports, Pizza Hut expects to sell a record 2 million pies on Super Bowl Sunday and Papa John’s expects to sell 1 million pizzas in the U.S.
- SBUX and YUM also gained on accelerating volume as MCD, GMCR, BAGL and COSI declined on accelerating volume.
- BWLD gained on accelerating volume, rising 3.8% and outperforming the casual dining space. TXRH and EAT also gained on accelerating volume.