THE HBM: MCD, SBUX, PNRA, DPZ, SONC, AFCE, TXRH, BJRI

Notable macro data points, news items, and price action pertaining to the restaurant space.

 

THE HEDGEYE BREAKFAST MENU

 

MACRO

 

Consumer

 

Initial jobless claims came in at 408k for the week ended August 13th, versus expectations of 400k and the week prior’s revised number of 399k.

 

THE HBM: MCD, SBUX, PNRA, DPZ, SONC, AFCE, TXRH, BJRI - initial jobless claims

 

 

Commodities

 

The costliest drought in Texas history probably forced ranchers to sell the most cattle to feedlots since December, according to Bloomberg, perhaps causing a surge in U.S. meat supply that may reduce costs for the food processors.

 

Subsectors

 

THE HBM: MCD, SBUX, PNRA, DPZ, SONC, AFCE, TXRH, BJRI - subsectors fbr

 

 

QUICK SERVICE

  • MCD raised to Outperform versus Perform at Oppenheimer
  • SBUX cut to Perform versus Outperform at Oppenheimer
  • PNRA raised to Outperform versus Perform at Oppenheimer
  • DPZ raised to Outperform versus Perform at Oppenheimer
  • SONC cut to Perform versus Outperform at Oppenheimer
  • AFCE reported 2Q earnings post-close yesterday.  EPS came in at $0.23 versus $0.23 expectations.  Global and domestic same-store sales increased 0.7% and 0.5%, respectively.  On the conference call, management said that the consumer environment is “choppy”.

 

CASUAL DINING

  • TXRH Chairman Taylor steps into Chief Executive Role
  • TXRH cut to Perform versus Outperform at Oppenheimer
  • BJRI raised to Outperform versus Perform at Oppenheimer

 

THE HBM: MCD, SBUX, PNRA, DPZ, SONC, AFCE, TXRH, BJRI - stocks 818

 

Howard Penney

Managing Director

 

Rory Green

Analyst


Today 12PM ET: LIVE Review of $EXAS Earnings Call (A Hedgeye Best Idea Long)

Our Healthcare Team made a monster call to be long EXAS - hear their updated thoughts.

read more

Capital Brief: 5 Things to Watch Right Now In Washington

Here's a quick look at some key issues investors should keep an eye on from Hedgeye's JT Taylor and our team of Washington Policy analysts in D.C.

read more

Premium insight

[UNLOCKED] Today's Daily Trading Ranges

“If I could only have one thing of the many things we have it would be my daily ranges." Hedgeye CEO Keith McCullough said recently.

read more

We'll Say It Again: Leave Your Politics Out of Your Portfolio

If your politics dictates your portfolio positioning, the Democrats and #NeverTrump crowd out there have had a hell of a week.

read more

Cartoon of the Day: 'Biggest Tax Cut Ever'

President Donald Trump's economic team unveiled what he called last week, "the biggest tax cut we’ve ever had.” Before you get too excited about that hang on a sec. "Trump Tax Reform ain’t gettin’ done anytime soon," Hedgeye CEO Keith McCullough wrote in today's Early Look.

read more

Neurofinance: The Psychology Behind When To Sell A Bull Market

"Most momentum investors stay invested too long, under-reacting and holding tight after truly bad news finally arrives to break the trend," writes MarketPsych's Richard Peterson.

read more

Energy Stocks: Time to Buy the Dip? | $XLE

What the heck is happening in the Energy sector (XLE)? Energy stocks have trailed the S&P 500 by a whopping 15% in 2017. Before you buy the dip, here's what you need to know.

read more

Cartoon of the Day: Hard-Headed Bears

How's this for "hard data"? So far, 107 of 497 S&P 500 companies have reported aggregate sales and earnings growth of 4.4% and 13.2% respectively.

read more

Premium insight

McCullough [Uncensored]: When People Say ‘Everyone is Bullish, That’s Bulls@#t’

“You wonder why the performance of the hedge fund indices is so horrendous,” says Hedgeye CEO Keith McCullough, “they’re all doing the same thing, after the market moves. You shouldn’t be paid for that.”

read more

SECTOR SPOTLIGHT Replay | Healthcare Analyst Tom Tobin Today at 2:30PM ET

Tune in to this edition of Sector Spotlight with Healthcare analyst Tom Tobin and Healthcare Policy analyst Emily Evans.

read more

Ouchy!! Wall Street Consensus Hit By Epic Short Squeeze

In the latest example of what not to do with your portfolio, we have Wall Street consensus positioning...

read more

Cartoon of the Day: Bulls Leading the People

Investors rejoiced as centrist Emmanuel Macron edged out far-right Marine Le Pen in France's election day voting. European equities were up as much as 4.7% on the news.

read more