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Notable news items/price action over the last twenty-four hours.

  • MCD franchisee Arcos Dorados files for IPO up to $1.08 billion.  The group sees proceeds of $163.5m coming from the deal.
  • DRI reported Q3 EPS $1.08 from continuing operations versus the Street expectations of $1.05.  The company guided to +1.5% to +2.0% blended comps but the 3Q number came in at 0.9%.  More on the quarter to follow the conference call today.  The company received a $0.03 benefit from the favorable tax rate this quarter.
  • WEN received a positive write up on NRN.com, expounding on a note by Morgan Stanley predicting that breakfast sales could reach up to $250k per store.
  • KKD gained 3.4% on accelerating volume following the distribution deal with SYY that closed this week.
  • SBUX traded up 2.4% on accelerating volume.  This stock is the best performing stock of the last week.
  • KONA gained 12% on accelerating volume.

TALES OF THE TAPE: MCD, DRI, WEN, KKD, SBUX, KONA - STOCKS 325

Howard Penney

Managing Director