Notable news items from the past few days and price action from Friday, along with our fundamental view on select names.
- SONC reported that its system-wide same-store sales have increased by an estimated 4% to 6% for the first two months of the company’s third fiscal quarter.
- On Friday, SONC rallied 12.8% on accelerating volume.
- MCD said this week that its store growth and hiring are about to accelerate in China, with plans to open 700 new stores in the country by the end of fiscal 2013 which will bring its total restaurant count there to 2,000, according to nrn.com.
- WEN is testing its new chicken sandwich in Columbus, OH.
- According to The Times of India, fine dining brands are “hungry for India debut” as the affluent middle class expands.
- KONA gained 3.4% on accelerating volume while BWLD declined 1.2% on accelerating volume.