While customers may not realize how appropriate it is to be picking meat off the bones of chicken wings in hard times (I'll bet many a Depression-era cook made two chicken wings into a whole family's meal), investors are happily cashing in on the meaty prospects of Buffalo Wild Wings (NASDAQ: BWLD) this week. After reporting a shocker of a quarter -- up 28.7% over the year-earlier quarter with $7.7 million, or $0.43 per share, on revenue $121.2 million -- investors were heartened. It was just three months ago that BWLD missed expectations with net income of $4.6 million, or $0.25 per share, on revenues of $106.1 million. Same-store sales at company-owned stores were up 6.8% in the third quarter compared to a 4.5% growth in the fourth quarter.buffalo posts
FeedBuffalo Wild Wings: Fatten you up?
While customers may not realize how appropriate it is to be picking meat off the bones of chicken wings in hard times (I'll bet many a Depression-era cook made two chicken wings into a whole family's meal), investors are happily cashing in on the meaty prospects of Buffalo Wild Wings (NASDAQ: BWLD) this week. After reporting a shocker of a quarter -- up 28.7% over the year-earlier quarter with $7.7 million, or $0.43 per share, on revenue $121.2 million -- investors were heartened. It was just three months ago that BWLD missed expectations with net income of $4.6 million, or $0.25 per share, on revenues of $106.1 million. Same-store sales at company-owned stores were up 6.8% in the third quarter compared to a 4.5% growth in the fourth quarter.Flash: Continental flight from Newark crashes in Buffalo, New York
At about 10:20 EST, Continental Flight 3407 (also reported as 1304), a commuter plane out of Newark, crashed into a home in Buffalo, New York. According to reports, all 48 people aboard -- 44 passengers and four crew members -- and one person on the ground were killed.
The scene is currently engulfed in flames. The plane had been quite late departing Newark was arriving two hours past its scheduled time when it crashed about 10 miles from Buffalo Niagara International Airport. The Q400 Bombardier aircraft was flying in fog, snow and wind.
After last month's crash landing of a US Airways flight, airline stocks have taken quite a hit, all down as much as 50% since their highs in early January. Good news for the crew of flight 1549 did not translate into good news for US Airways (NYSE: LCC), and certainly not for Continental Airlines Inc. (NYSE: CAL). Though the airline's stock will likely see big volatility at the start of trading on Friday, I don't expect this news to majorly impact the fortunes of either Continental or US Airways over the next 30 days.
The scene is currently engulfed in flames. The plane had been quite late departing Newark was arriving two hours past its scheduled time when it crashed about 10 miles from Buffalo Niagara International Airport. The Q400 Bombardier aircraft was flying in fog, snow and wind.
After last month's crash landing of a US Airways flight, airline stocks have taken quite a hit, all down as much as 50% since their highs in early January. Good news for the crew of flight 1549 did not translate into good news for US Airways (NYSE: LCC), and certainly not for Continental Airlines Inc. (NYSE: CAL). Though the airline's stock will likely see big volatility at the start of trading on Friday, I don't expect this news to majorly impact the fortunes of either Continental or US Airways over the next 30 days.
Analyst upgrades 8-07-07: BKC, EAT, GPS and NWA
MOST NOTEWORTHY: Buffalo Wild Wings (BWLD), Pepsi Bottling (PBG), Brinker International (EAT), Northwest Airlines (NWA) and Spectrum Brands (SPC) were today's noteworthy upgrades: - Merriman upgraded shares of Buffalo Wild Wings (NASDAQ: BWLD) to Buy from Neutral on valuation as they believe the 25% sell-off post in-line earnings is overdone.
- Banc of America upgraded shares of Pepsi Bottling (NYSE: PBG) to Buy from Neutral to reflect the company's earnings power in 2008, ongoing cost controls and more robust product pipeline.
- SMH Capital upgraded shares of Brinker Int'l (NYSE: EAT) as they believe expectations are too low for Q4 and FY08.
- Northwest Airlines (NYSE: NWA) was upgraded to Overweight from Equal Weight at Morgan Stanley on valuation.
- Spectrum Brands (NYSE: SPC) was upgraded to Neutral from Underperform at Buckingham on valuation...
- Raymond James upgraded Ruby Tuesday (NYSE: RT) to Market Perform from Underperform.
- Burger King (NYSE: BKC) was raised to Buy from Hold at Citigroup.
- Bear Stearns upgraded Martha Stewart Living Omnimedia (NYSE: MSO) to Outperform from Peer Perform.
Analyst downgrades 6-21-07: AT, BWLD, CAKE, HD and ODP
MOST NOTEWORTHY: Cheesecake Factory (CAKE), Buffalo Wild Wings (BWLD), Alltel (AT), Home Depot (HD) and Nokia (NOK) were today's more noteworthy downgrades: - Cheesecake Factory (NASDAQ: CAKE) was downgraded to Sector Perform from Outperform at CIBC, to Outperform from Strong Buy at Raymond James and to Peer Perform from Outperform at Bear Stearns after the company reduced its second quarter guidance.
- Buffalo Wild Wings (NASDAQ: BWLD) was cut to Neutral from Buy at Merriman on valuation.
- Lehman downgraded Alltel Corp (NYSE: AT) to Equal Weight from Overweight as the firm doesn't expect a competing bid for the company.
- Home Depot (NYSE: HD) was cut to Market Perform from Outperform following yesterday's rally and feels that with the HD sale out of the way, the focus will now turn to Home Depot's ability to grow in the challenging do-it-yourself retail market. Goldman cut Nokia to Neutral from Buy on valuation...
- JP Morgan cut Headwaters (NYSE: HW) to Underweight from Neutral.
- Citigroup downgraded Prudential Financial (NYSE: PRU) to Hold from Buy.
- Matrix USA cut Phototronics (NASDAQ: PLAB) to Sell from Hold.
- Ferris, Baker downgraded Gladstone Commercial Corp (NASDAQ: GOOD) to Neutral from Buy.
- Citigroup removed Office Depot (NYSE: ODP) from its Citi Recommended List.
Analyst upgrades 5-02-07: CMG, MRK, NEM, Q and SIRI
MOST NOTEWORTHY: Newmont Mining Corp (NEM), Qwest Communications International Inc (Q), Sirius Satellite Radio Inc (SIRI), Chipotle Mexican Grill, Inc (CMG) and American Eagle Outfitters (AEO) were today's noteworthy upgrades:- Prudential upgraded shares of Newmont Mining Corp (NYSE: NEM) to Neutral from Underweight citing valuation, higher gold and copper prices and specific mine factors that should lead to an operational turnaround.
- Credit Suisse raised shares of Qwest Communications International Inc (NYSE: Q) to Neutral from Underperform as the firm believes management is less likely to engage in a fiber video build and cites the increase in the company's NOL carry-forwards.
- Sirius Satellite Radio (NASDAQ: SIRI) was upgraded to Outperform from Market Perform at Barrington Research.
- Raymond James upgraded Chipotle Mexican Grill (NYSE: CMG) to Outperform from Market Perform. Morgan Keegan also raised shares to Outperform from Market Perform, citing better-than-projected operating fundamentals and growth prospects.
- American Eagle Outfitters (NYSE: AEO) was upgraded to Strong Buy from Buy at Matrix USA to reflect the company's impressive SSS growth...
- Arris Group, Inc (NASDAQ: ARRS) was upgraded to Sector Performer from Underperformer.
- C.H. Robinson Worldwide, Inc (NASDAQ: CHRW) was upgraded to Buy from Hold at AG Edwards.
- Merck & Co, Inc (NYSE: MRK) was added to Leerink Swann's Focus List.
- Watson Pharmaceuticals, Inc (NYSE: WPI) was upgraded to Buy from Neutral at UBS.
- Buffalo Wild Winds (NASDAQ: BWLD) was upgraded to Outperform from Market Perform at Morgan Keegan.
New Facebook share structure hints at IPO
Before the bell: Futures higher ahead of housing, jobless data
Nuclear power is on the comeback trail
