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

06/03/11 08:09AM EDT

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

© 2024 Hedgeye Risk Management, LLC. The information contained herein is the property of Hedgeye, which reserves all rights thereto. Redistribution of any part of this information is prohibited without the express written consent of Hedgeye. Hedgeye is not responsible for any errors in or omissions to this information, or for any consequences that may result from the use of this information.