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Cheesecake Factory (CAKE)
Janney Mntgmy Scott downgraded Cheesecake Factory from Neutral to Sell.
Analyst Mark Kalinowski said in a client note that his sources have suggested that casual dining operators' sales at restaurants open at least a year were no better in December than in October and November, when the indicator was down by 4 percent to 5 percent.
Jan 11 · 3:17:00 PM · Source: MSN Moneycentral
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by Rich Pike
Buffalo Wild Wings (BWLD)
Morgan Keegan upgraded Buffalo Wild Wings Inc. from Perform to Outperform.
Jan 11 · 3:12:00 PM · Source: StreetInsider.com
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by Rich Pike
Regions Financing (RF)
Regions Bank announced that it has exceeded its goal of opening one million new checking accounts for consumers and small businesses in 2009.
Growth in the bank’s signature bundled product, Regions LifeGreen Checking and Savings, helped fuel the growth, which has also been instrumental in helping the bank increase deposits by $10 billion since September 2008. Regions exceeded its previous record of account openings in a year by more than 25 percent.
Jan 1 · 4:05:00 PM · Source: Business Wire
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by Michael Oliveto
Regions Financing (RF)
Regions Bank recently won a $43.1 million foreclosure lawsuit targeting the unfinished Azura estate home project in Boca Raton.
Polo Field Estates planned to build 92 homes with prices ranging from $1.6 million to $3 million. Only a handful were built.
Jan 1 · 4:03:00 PM · Source: MSN Money
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by Michael Oliveto
Regions Financing (RF)
Regions Financial Corp.’s brokerage arm Morgan Keegan & Co. said a lawsuit filed by former client Consulting Services Group LLC is “full of omissions, misstatements and half truths” and is nothing more than a tactic to turn attention away from its own shortcomings.
CSG, a Tennessee-based investment advisory firm for institutions, foundations, pension funds and high-net worth individuals, filed a civil lawsuit last week in Shelby County, TN Circuit Court against Morgan Keegan over losses in Morgan Keegan’s former RMK Funds. Losses in the funds ranged from 51% to 86% last year just before Morgan Keegan sold the funds to a third party. The total value had dropped from a high of $4.4 billion to around $350 million when they were jettisoned.
Jan 1 · 4:01:00 PM · Source: MSN Money
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by Michael Oliveto
Regions Financing (RF)
Regions Bank said that it is closing five of its Central Florida branches as part of a companywide cost-cutting effort designed to save millions of dollars and help reverse recent losses.
Regions, the fifth-largest bank in Central Florida, plans to shut the branches in Orlando, Longwood, Oviedo, Holly Hill and Ormond Beach early next year, a spokesman for the Birmingham-based bank said. The cutback affects about 6 percent of Regions' offices in Central Florida.
Jan 1 · 3:59:00 PM · Source: Orlando Sentinel
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by Michael Oliveto
QUALCOMM (QCOM)
Qualcomm recently announced that Len Lauer, chief operating officer, has resigned and accepted a CEO role at another company.
As a result, the Qualcomm MEMS Technologies (QMT) organization will now report to Steve Mollenkopf, EVP and president, Qualcomm CDMA Technologies (QCT).
Jan 1 · 3:54:00 PM · Source: Field Technologies Online
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by Michael Oliveto
Pepsico (PEP)
PepsiCo made public a financial forecast prepared by PepsiAmericas when considering PepsiCo's unsolicited $7.8 billion takeover bid for its two largest bottlers.
According to a securities filing, PAS said PepsiCo would have earnings per share of $3.69 in 2009, $3.98 in 2010, $4.30 in 2011 and $4.71 in 2012. PepsiCo launched its takeover bid for two bottlers, Pepsi Bottling Group Inc and PepsiAmericas, in April, and struck a deal in August after sweetening its offer. The transaction is expected to close by the end of the first quarter 2010 and aims to improve the North American operations of the world's second-largest soft drink maker.
Jan 1 · 3:51:00 PM · Source: Reuters · Related: Pepsi Bottling Group
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by Michael Oliveto
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