10/13/14 Monday Mashup: DFRG, EAT and More
10/16/14 DFRG: Timing is Critical
Events This Week
Monday, October 20th
- CMG earnings call 5:00pm EST
Tuesday, October 21st
- EAT earnings call 10:00am EST
- MCD earnings call 11:00am EST
- SONC earnings call 5:00pm EST
Wednesday, October 22nd
- CAKE earnings call 5:00pm EST
Thursday, October 23rd
- DNKN earnings call 8:00am EST
- BJRI earnings call 5:00pm EST
Chart of the Day
Milk prices are up +26.2% YTD and +31.3% YoY.
Recent News Flow
Monday, October 13th
- DRI downgraded to neutral at Piper Jaffray with a $50 PT.
Tuesday, October 14th
- DRI appointed Jeffrey Smith as Independent Non-Executive Chairman and Gene Lee as Interim CEO.
- DRI downgraded to Ba1 from Baa3 at Moody's.
- EAT downgraded to hold at KeyBanc.
- TXRH downgraded to hold at KeyBanc.
- CBRL upgraded to buy at Argus with a $120 PT.
Wednesday, October 15th
- SBUX mentioned positively at Bernstein where it continues to be rated outperform with a $99 PT.
Thursday, October 16th
- LOCO announced the opening of its nineteenth Las Vegas area location.
- CAKE announced its newest opening at the new Mall at University Town Center in Sarasota, FL.
Friday, October 17th
- MCD estimates were reduced at Janney, which reduced its PT to $90.
The XLY (-0.9%) outperformed the SPX (-1.0%) last week. Both casual dining and quick service stocks, in aggregate, outperformed the narrower XLY.
XLY Quantitative Setup
From a quantitative setup, the sector remains bearish on an intermediate-term TREND duration.
Casual Dining Restaurants
Quick Service Restaurants