Notable news items/price action from the past twenty-four hours.
- WEN shareholder Nelson Peltz has revealed that approaches were made recently by a third party regarding a potential acquisition of WEN. However, as a result of the move to sell Arby’s, announced on January 20th, Peltz and Trian decided not to propose any strategic alternatives at this time.
- WEN shares rose on accelerating volume, pushing the stock above $5. The stock has risen every day since their investor day last Thursday.
- YUM reported strong results for 4Q10 and the full year, exceeding EPS expectations and reporting strong comps in China and the U.S. versus consensus. YRI comps fell slightly short of the Street’s number.
- GMCR declined on accelerating volume during yesterday’s trading session but shot up in post market trading after EPS exceeded expectations.
- BWLD gained on strong volume as chicken wing favorability continues. BWLD reports next Tuesday.
- EAT underperformed the casual dining category, declining 2.1% on accelerating volume. I continue to like this name for the intermediate term as its margin and sales enhancing initiatives continue.
- RT declined on strong volume.
- CHUX reports earnings tomorrow.