THE HEDGEYE BREAKFAST MONITOR
HEDGEYE VIRTUAL PORTFOLIO POSITIONS
LONGS: JACK, SBUX
SHORTS:
SUBSECTOR PERFORMANCE
QUICK SERVICE
MCD: McDonald’s was cut to Hold at Argus Research.
PNRA: Panera Bread reported 1Q12 EPS of $1.40 versus consensus of $1.34. Company comps came in at 7.5% versus consensus 7.4%.
PNRA: Panera Bread was upgraded to Buy at Miller Tabak.
PNRA: Panera Bread was reiterated Overweight at Oppenheimer.
DPZ: Domino’s Pizza was raised to Neutral versus Underperform at BofA.
NOTABLE PERFORMANCE ON ACCELERATING VOLUME:
CMG: Chipotle dropped 3.4% on strong volume as Credit Suisse’s downgrade made news.
YUM: Yum declined 2% on accelerating volume.
CASUAL DINING
BWLD: Buffalo Wild Wings reported $0.98 versus $0.95 consensus. Company comps came in at 9.2% versus consensus of 10.9%. See our note from last night for additional details.
BWLD: Buffalo Wild Wings was upgraded to Buy from Hold at Deutsche Bank. The price target remains $100.
NOTABLE PERFORMANCE ON ACCELERATING VOLUME:
BWLD: Buffalo Wild Wings declined almost 6% on accelerating volume on earnings which were released at 3 p.m. rather than after the close, as was expected.
EAT: Brinker gained 1% on accelerating volume.
Howard Penney
Managing Director
Rory Green
Analyst
