TALES OF THE TAPE: CAKE, YUM, MCD, WEN, PZZA, KONA, CAKE, BJRI

Notable news items and price action from yesterday, along with our fundamental view on select names.

  • CAKE estimates were raised at Janney driven by superior positioning within the casual dining segment, as well as recently improving segment sales trends.
  • YUM’s Taco Bell is going on the offensive.  After the plaintiff dropped a law suit over Taco Bell’s beef, the company is now looking to set the record straight via various media outlets and reiterate that its products’ quality has not been compromised.
  • MCD’s first National Hiring Day was awarded with a strong response from job seekers.  The company planned to hire 50,000 people in one day, boosting its staff by about 7%.
  • WEN and PZZA both traded down on accelerating volume.
  • KONA, CAKE, and BJRI shares gained on accelerating volume.  CAKE and BJRI report today after the close.  RT shares declined 2.7% on accelerating volume.  The stock is down 11% over the last thirty days.

TALES OF THE TAPE: CAKE, YUM, MCD, WEN, PZZA, KONA, CAKE, BJRI - stocks 420

Howard Penney

Managing Director