TALES OF THE TAPE: SBUX, MCD, CMG, CHUX, GMCR, BWLD, EAT, CBRL, DIN, PFCB

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:

1. Café Rio
2. Pei Wei Asian Diner
3. In-N-Out Burger
4. Raising Cane’s
5. Chick-fil-A
6. Captiotti’s
7. Paradise Bakery
8. Costa Vida
9. Lenny’s Sub Shop
10. Chipotle

Howard Penney

Managing Director