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.
Howard Penney
Managing Director
