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The Nonfarm Payrolls print came in at 103k versus 60k estimate and a revised prior number of 57k. The unemployment rate for September came in at 9.1%, in line with expectations and August’s number.
Casual dining restaurants underperformed yesterday while food retail, beverages, and food retail stocks posted strong gains.
DNKN: Dunkin’ Brands’ outlook was raised to “B+” by S&P on debt reduction after the IPO.
ARCO: Arcos Dorados Holdings Inc. today announced that preliminary 3Q systemwide comp sales growth was stronger than it was in the first half of the year. 3Q EPS is being guided to at $0.22. Net income was impacted year-over-year by higher compensation, 2019 notes redemption charge, and the stronger dollar. The company also announced the filing of a registration statement for a secondary offering of Class A shares.
COSI: In a letter to Brad Blum dated October 6th, and filed in an 8-K, Cosi’s management informs Blum that the company will refer to the firm if he wants consideration for the Chief Executive Officer role. The company also expressed concern regarding Blum’s compliance with federal laws regarding alleged solicitation of other stockholders “and their participation with you in certain activities, as well as any agreements or understandings you may have with other stockholders regarding such activities and the voting or disposition of the Company's common stock”.
SBUX: Starbucks tweeted today that the company is now allowing free Wi-Fi access at hundreds of its locations throughout the UK.
KONA: Kona Grill holder William Blair reported a stake of 437k shares or 4.75% of shares out. This is versus the previously reported stake of over 1.2m shares in March 2010.