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Notable news items and price action from the restaurant space as well as our fundamental view on select names.

  • CBRL was downgraded by BofA.
  • SBUX brand Seattle’s Best Coffee LLC and Borders have ended their licensing agreement after a judge ruled to allow the move.  Seattle’s Best Coffee had asked a U.S. bankruptcy court this week to reject a plan by Borders to end its licensing agreement with the coffee operator. 
  • Nespresso has raised coffee pod prices in the U.S. and Europe.
  • Next time you’re in China, head to KFC for the new dish being advertised as a “Taste of Ireland”: fried chicken smothered in Bailey’s liqueur.
  • PZZA gained on accelerating volume yesterday.
  • AFCE, DRI, CBRL, DIN, and RRGB declined on accelerating volume.

TALES OF THE TAPE: CBRL, SBUX, YUM, PZZA, AFCE, DRI, CBRL, DIN, RRGB - stocks 63

Howard Penney

Managing Director