Notable news items/price action from Friday’s trading session.
- SBUX featured in an article in Barrons this weekend and reported sell-side views that earnings forecasts have 15% upside over the next 12 months.
- MCD chief communications officer, Jack Daly, passed away on Saturday morning after a battle with cancer.
- CMG is facing a wider probe of its hiring by immigration officials after the company came under scrutiny in Minnesota and had to fire workers.
- CHUX reported operating results for the fourth quarter of 2010 on Friday and results were disappointing. Company-operated same-store sales came in at -1.4% and EPS from continuing operations of -$0.77 versus the Street at -$0.30. Its shares declined on accelerating volume on Friday, underperforming casual dining peers.
- GMCR shares gained 4.8% on accelerating volume to close out a strong week following well-received earnings results last week.
- BWLD and EAT shares declined on accelerating volume.
- CBRL and DIN shares gained on accelerating volume.
- National Restaurant News reported a survey of consumers by Sandelman & Associates. The top 10 chains based on the percentage of “excellent overall” ratings were:
- Café Rio
- Pei Wei Asian Diner
- In-N-Out Burger
- Raising Cane’s
- Paradise Bakery
- Costa Vida
- Lenny’s Sub Shop