Piper Jaffray Raises Price Target on Darden Restaurants (DRI) Following 4Q15 Results

RBC Capital Raises Price Target on Darden Restaurants (DRI) Based on Fundamentals and Likely Value From REIT

June 24, 2015 7:12 AM EDT

RBC Capital reiterates a Sector Perform rating on Darden Restaurants (NYSE: DRI), and raised the price target to $74.00 (from $70.00), to reflect improved fundamentals and likely value from the separation of the company's real estate portfolio into a REIT. Analyst David Palmer believes that McDonalds and... More

Market Wrap: Boeing Appoints New Chief; Netflix Approves Stock Split; Durable Goods Orders Fell in May

June 23, 2015 5:25 PM EDT

Market wrap for June 23nd

End of the Day: S&P 500 up 1.4 to 2,124.20; Dow Jones up 24.3 to 18,144.07; Nasdaq up 6.1 to 5,160.10

Market Brief: U.S. markets were rather flat on Tuesday as exuberance over a potential Greek deal subsided. European commissioner for economic and financial affairs, Pierre Moscovici, told French radio on Tuesday that a deal is in sight, the first time creditors have mentioned that a resolution might be made.

Durable goods orders also tempered some enthusiasm with... More

Pre-Open Stock Movers 06/23: (GDOT) (PHMD) (FIT) (DRI) Higher; (CTP) (VICL) (MELA) Lower (more...)

June 23, 2015 9:24 AM EDT

CTPartners Executive Search (NYSE: CTP) 83.8% LOWER; announced that the exclusivity period for its negotiations with DHR International Inc. regarding an acquisition of the Company expired late last week with no definitive agreement for the sale of the Company as a whole having been reached.

Vical (NASDAQ: VICL) 47.2% LOWER; announced top-line results from an ongoing randomized, double-blind, placebo controlled Phase 1/2 clinical study of its... More

Darden Restaurants (DRI) Plans to Spin Certain Real Estate Assets, Will form New REIT

June 23, 2015 7:05 AM EDT

Darden Restaurants (NYSE: DRI) announced that its Board of Directors approved a strategic real estate plan to pursue a separation of a portion of the Company's real estate assets. The separation would be achieved through a combination of selected sale leaseback transactions and the transfer of a portion of its remaining real estate assets to a new real estate investment trust ("REIT") that will be separated by a spin-off, split-off or similar transaction, resulting in the REIT becoming an independent, publicly-traded company (the "REIT Transaction").

The Company's Board reached this decision after considering various... More

Darden Restaurants (DRI) Tops Q4 EPS by 15c; Plans to Spin Real Estate Assets

June 23, 2015 7:04 AM EDT

Darden Restaurants (NYSE: DRI) reported Q4 EPS of $1.08, $0.15 better than the analyst estimate of $0.93. Revenue for the quarter came in at $1.88 billion versus the consensus estimate of $1.87 billion.

Same-restaurant sales** increased 3.8% for the quarter

+3.4% for Olive Garden

+3.2% for Yard House

+5.2% for LongHorn... More

Trading Radar for 6/23: BlackBerry (BBRY), Carnival (CCL), Darden (DRI), WSI Industries (WSCI) Report

June 22, 2015 2:19 PM EDT

The Trading Radar highlights key earnings and economic announcements for the next trading session:

Before Markets Open:
Economics:
8:30am EDT

Durable Orders - Street sees (0.5%)

9:00am EDT

FHFA Housing Price Index - no Street consensus

Earnings:

BlackBerry... More