THE HBM: SBUX, DPZ, RT, PFCB, CAKE

The most important meal of the day.

 

THE HEDGEYE BREAKFAST MONITOR

 

MACRO

 

Commodities

 

Dairy price have come down dramatically over the past couple of months but it is worth noting that beef prices continue to follow a bullish trajectory.  Cheese prices have been volatile this year and we believe that another increase is possible before the quarter is out.

 

THE HBM: SBUX, DPZ, RT, PFCB, CAKE - cheese 103

 

THE HBM: SBUX, DPZ, RT, PFCB, CAKE - live cattle 103

 

 

SUBSECTOR PERFORMANCE

 

Corn continues to slide and food processors, in turn, continue to outperform peer subsectors in the food, beverage, and restaurant space.

 

THE HBM: SBUX, DPZ, RT, PFCB, CAKE - corn 103

 

THE HBM: SBUX, DPZ, RT, PFCB, CAKE - subsector fbr

 

 

QUICK SERVICE

 

SBUX is kicking off its “Create Jobs for USA” campaign, accepting donations online and in some of its cafes to spur job creation among community businesses in the United States.

 

DPZ outperformed the space on Friday. 

 

CASUAL DINING

 

RT, CAKE, and PFCB underperformed the casual dining category on accelerating volume during Friday’s trading session.

 

THE HBM: SBUX, DPZ, RT, PFCB, CAKE - stocks 103

 

 

Howard Penney

Managing Director

 

Rory Green

Analyst