Notable news items/price action from the past twenty-four hours.
- SBUX and GCMR have struck a deal to bring single-cup Starbucks coffee and Tazo pods to Keurig users. Terms were not disclosed. GMCR is trading up 13% premarket.
- BWLD is trading strongly, up 4% yesterday on accerlerating volume, as chicken wing prices continue to slide. The other key factor to monitor here is the dispute between the NFL Players’ Association and the NFL. A players’ strike could materially impact traffic at BWLD restaurants. We continue to follow the developments of the NFL dispute for any impact on BWLD.
- TAST continues to trade higher on accelerating volume.
- DRI has traded strongly of late, rising 1.8% on higher volume on Ash Wednesday. Red Lobster is looking forward to a boost in seafood consumers this Lenten season!
- The U.S. cattle herd is the smallest since 1958 as beef exports surged 19 percent in 2010 to about 2.3 billion pounds (1.04 million metric tons), according to the U.S. Department of Agriculture. Cattle prices have jumped 27 percent in the past year, fueled by a global economic recovery that is boosting meat demand in emerging economies, including China.