Notable news items/price action from the past twenty-four hours.
- WEN traded strongly yesterday as the Street warmed to their turnaround story. February comps were positive and guidance for 1Q11 is for “flat-to-positive” same-store sales in the first quarter.
- PEET gained 4.1% on accelerating volume as investors continue to price in the possibility of the coffee company being involved in a deal with either GMCR (consensus view) or SBUX (my view).
- CMG is celebrating its 18th birthday by wrapping its burritos in gold foil for the next four months. In addition to the foil, the company is adding an advertising campaign that includes outdoor, radio, and online elements.
- CMG founder Steve Ells will feature on an NBC reality show, “America’s Next Great Restaurant”, which premieres Sunday.
- DIN gained 1% on accelerating volume following its earnings release yesterday morning.
- TXRH and CPKI also saw their shares rise on strong volume.
- MSSR traded poorly, down 6.1%, on accelerating volume following a downgrade at Oppenheimer to Perform from Outperform.