TALES OF THE TAPE: SBUX, YUM, JACK, SONC, CMG, MRT, RRGB, KONA, CHUX, MRT

Notable news items from the past few days and price action from Friday’s trading.

  • SBUX price target was raised to $42 from $40 at Piper Jaffray
  • SBUX saw the U.S. Court of Appeals for the Second Circuit uphold a lower court’s ruling denying Kraft’s request for a preliminary injunction against Starbucks Coffee Company.
  • YUM’s Taco Bell is launching a $3 million television ad campaign this week to battle damage to its image from a lawsuit questioning its taco filling. 
  • JACK and SONC traded strongly on Friday on accelerating volume to close out a poor week.
  • CMG traded down 6.5% last week.
  • Aside from MRT, RRGB, KONA, and CHUX, last week was a poor week for casual dining. 
  • MRT traded up on Friday on strong volume as the company announced FY11 EPS guidance above Street estimates.

TALES OF THE TAPE: SBUX, YUM, JACK, SONC, CMG, MRT, RRGB, KONA, CHUX, MRT - stocks 228

Howard Penney

Managing Director