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THE HEDGEYE BREAKFAST MONITOR

VIRTUAL PORTFOLIO:

LONGS: SBUX, JACK and EAT

SHORTS: MCD

SUBSECTOR PERFORMANCE

THE HBM: DNKN, COSI, BWLD - subsector

 

QUICK SERVICE

DNKN: Dunkin’ Brands announced an upsizing and pricing of its secondary offering.  The secondary offering will be priced at $29.50.  We do not think it is any coincidence that the company made this announcement the day after announcing a partnership – the largest of its kind so far in 2012 – with Jerry Jones and Troy Aikman to open 50 Dallas/Fort Worth restaurants.  

COSI: Cosi reported a $0.04 EPS loss in 4Q along with same store sales of 2.6%.  With one week remaining in 1Q12, system-wide comparable sales increased by almost 5%.

NOTABLE PERFORMANCE ON ACCELERATING VOLUME:

PEET: Peet’s has been performing well over the last month but declined 4.8% on accelerating volume yesterday.

CASUAL DINING

BWLD: Buffalo Wild Wings was initiated Neutral at Morgan Stanley.

 

NOTABLE PERFORMANCE ON ACCELERATING VOLUME:

DIN: DineEquity underperformed its peers yesterday.

THE HBM: DNKN, COSI, BWLD - stocks

Howard Penney

Managing Director

Rory Green

Analyst