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Notable news items and price action from the past twenty-fours along with our fundamental view on select names.

  • WEN closed up 4.1% on accelerating volume despite weaker-than-expected earnings yesterday.  The sale of Arby’s, which management is working toward, is a significant positive catalyst.  Management stated on its calls that it has “quality bidders” for Arby’s.
  • SBUX CEO Howard Schultz has called for more transparency in the coffee market to stop speculators from driving up prices.
  • Brazil’s coffee harvest may rebound 12% next season as producers take advantage of a doubling of prices in the last year, according to the International Coffee Organization.
  • PEET would like to be in the single-serve category, according to comments from CFO Tom Crawley at the Baird Conference yesterday.  The company expects to add 5 retail stores this year and said that the grocery business is increasing 20% on an “ongoing basis”.
  • DPZ closed up 3.9% on accelerating volume.
  • CPKI gained 2% on accelerating volume.

TALES OF THE TAPE: WEN, SBUX, PEET, DPZ, CPKI - stocks 511

Howard Penney

Managing Director