• It's Here!

    Etf Pro

    Get the big financial market moves right, bullish or bearish with Hedgeye’s ETF Pro.

  • It's Here

    MARKET EDGES

    Identify global risks and opportunities with essential macro intel using Hedgeye’s Market Edges.

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

  • SBUX is broadening consumer access to mobile payment with the launch of a Starbucks for Android app.
  • SBUX is shifting its source of milk for its NYC stores from Elmhurst Dairy in Queens to a non-union plant out of the City by the end of this week.  The decision has been met with strong opposition in the City with elected officials and workers claiming that the move will cost 700 people their jobs.
  • DIN was upgraded to Overweight from Neutral at JP Morgan. 
  • The space outperformed yesterday with BAGL, SONC and WEN the standouts.  We would use this strength to pare back positions and even increase short exposure where appropriate.
  • The UN Food Price Index is 20% higher than the level it was at during the 2008 crisis levels.  The vast majority of global respondents to a survey by international aid agency Oxfam said they are no longer eating the same kind of food they did two years ago. 

TALES OF THE TAPE: SBUX, DIN, BAGL, SONC, WEN - stocks 616

Howard Penney

Managing Director