• It's Here!

    Etf Pro

    Get the big financial market moves right, bullish or bearish with Hedgeye’s ETF Pro.

  • It's Coming...

    MARKET EDGES

    Identify global risks and opportunities with essential macro intel using Hedgeye’s Market Edges.

Notable news items/price action from the past twenty-four hours.

  • CMG downgraded to Neutral from Outperform at Cowen.
  • CMG’s new ShopHouse Southeast Asian Kitchen name finally hit the mainstream yesterday.  Sell-side analysts clamored to take credit for being first.  Hedgeye readers knew of the name when we posted on it on 1/27.
  • GMCR gained 6.6% on low volume.  The speculation embedded in this move is – as I have been writing ad nauseum – misplaced.  See my posts yesterday and my first post on the SBUX/GMCR story from January.   Keybanc upgraded the stock to a Buy from Hold this morning. 
  • PNRA was cut to Outperform from Strong Buy.
  • SBUX CEO Howard Schultz made $36.8 million last week by exercising and selling stock options set to expire in the fall.
  • DPZ’s U.K. & Ireland PLC said full-year profit fell on a one-off credit charge.   The company may pass on a 1 to 2% increase in food costs to franchises this year, according to CFO Dale Ginsberg.  
  • Former McDonald’s executive Mike Roberts is now the CEO of LYFE, a new fast food chain with options for vegans and vegetarians. 
  • BWLD gained on accelerating volume on a day of insider selling.
  • EAT declined on accelerating volume.
  • YUM gained on accelerating volume.

TALES OF THE TAPE: CMG, GMCR, PNRA, SBUX, DPZ. MCD, BWLD, EAT, YUM - stocks 215

Howard Penney

Managing Director