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COSI

Cosi

06:32
10/11/16
10/11
06:32
10/11/16
06:32

Cosi preparing for 363 sale process

Cosi announced that the company is aggressively seeking qualified bidders who may have an interest in purchasing substantially all of its assets in a sale process under Section 363 of the Bankruptcy Code. The Company also announced that the bidding procedures and sale schedule, which are pending approval of the Bankruptcy Court, will be available on or about October 20, and that all bids must be received by November 14. As previously disclosed, on September 28, 2016, the Company and its subsidiaries filed voluntary Chapter 11 petitions in the United States Bankruptcy Court for the District of Massachusetts, Case No. 16-13704. Prior to the Chapter 11 filing, the Company entered into a non-binding term sheet with its lenders, AB Opportunity Fund LLC, AB Value Partners, L.P., and Milfam II L.P., pursuant to which these lenders or their designees agreed to lend the Company money in the bankruptcy as the Company's debtors-in-possession lenders. Also, the DIP lenders have proposed to purchase substantially all of the Company's assets and, subject to Bankruptcy Court approval, would serve as the "stalking horse bidder" in the 363 sale process. Qualified bidders must submit a higher or better bid than the offer from the stalking horse bidder.

COSI Cosi

12/16/15
ROTH
12/16/15
NO CHANGE
ROTH
Cosi sales trends improving, says Roth Capital
Roth Capital says that Cosi's sales trends are improving following two months of declines, and it expects the company to close its unprofitable restaurants when their leases expires. Roth keeps a $1.50 price target and Buy rating on the shares.
04/06/16
04/06/16
NO CHANGE

Cosi reports Period 3 comparable sales up 1.8%, Q1 comparable sales up 2.2%
Cosi reported that estimated system-wide comparable restaurant sales for the 2016 Period 3 and 2016 Quarter 1, as measured for restaurants in operation for more than 15 consecutive months as company-owned or franchised, recorded an aggregate increase of 1.8% and 2.2% respectively, as compared to the same periods in 2015. For the 2016 Period 3 and 2016 Quarter 1, the 13 Hearthstone locations acquired on April 1, 2015, recorded an aggregate increase in comparable restaurant sales of 0.3% and 5.4% respectively. The company reported continued improvements in COGS and Labor expenses in the 2016 Quarter 1, based on preliminary results for the quarter, when compared to the same quarter last year. The company closed one unit in February, in addition to the two previously announced closures in January. The company also confirmed two additional closures that will occur in Q2, as well as their expectation to close 4 to 5 other locations in the second half of the year. The company reported a continued improving trend in traffic in 1Q16, which it has attributed to a combination of digital marketing initiatives in selected markets, improvements in operations execution, and throughput.

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General news
FX Action: The dollar has been in consolidation »

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HL

Hecla Mining

$6.07

-0.29 (-4.56%)

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RIG

Transocean

$14.31

1.03 (7.76%)

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CYOU

Changyou.com

$27.47

-0.56 (-2.00%)

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TOUR

Tuniu

$8.51

-0.2 (-2.30%)

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SFUN

Fang Holdings

$3.00

-0.02 (-0.66%)

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YY

YY

$45.72

-1.16 (-2.47%)

21:29
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SUN

Sunoco

$27.56

-0.22 (-0.79%)

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QUNR

Qunar

$30.39

-0.22 (-0.72%)

20:25
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Conference/Events
Qunar to host special shareholder meeting »

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COG

Cabot Oil & Gas

$22.53

-0.07 (-0.31%)

, FL

Foot Locker

$68.58

-2.44 (-3.44%)

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02/23/17
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Earnings
Notable companies reporting before tomorrow's open »

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COG

Cabot Oil & Gas

$22.53

-0.07 (-0.31%)

FL

Foot Locker

$68.58

-2.44 (-3.44%)

JCP

J.C. Penney

$6.86

-0.19 (-2.70%)

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IIPR

Innovative Industrial Properties

$18.05

0.05 (0.28%)

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AAPL

Apple

$136.53

-0.58 (-0.42%)

, SMCI

Super Micro Computer

$27.40

0.3 (1.11%)

19:55
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Periodicals
Apple cut ties to Super Micro over security concerns, The Information says »

Apple (AAPL) terminated…

AAPL

Apple

$136.53

-0.58 (-0.42%)

SMCI

Super Micro Computer

$27.40

0.3 (1.11%)

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HLF

Herbalife

$59.40

-1.34 (-2.21%)

19:45
02/23/17
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Hot Stocks
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AHT

Ashford Hospitality

$7.37

-0.13 (-1.73%)

19:17
02/23/17
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Earnings
Ashford Trust reports Q4 AFFO 16c, may not compare to consensus (32c) »

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PG

Procter & Gamble

$91.13

-0.31 (-0.34%)

, EPC

Edgewell Personal Care

$76.27

-5.44 (-6.66%)

19:13
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Procter & Gamble says cutting Gillette prices by double digits »

Speaking during the…

PG

Procter & Gamble

$91.13

-0.31 (-0.34%)

EPC

Edgewell Personal Care

$76.27

-5.44 (-6.66%)

UL

Unilever; also tag UN

$46.90

-0.03 (-0.06%)

UN

Unilever; also tag UL

$46.58

-0.17 (-0.36%)

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NSU

Nevsun Resources

$2.94

-0.06 (-2.00%)

19:12
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Nevsun Resources redeploys $120M to fund Timok »

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Nevsun Resources

$2.94

-0.06 (-2.00%)

19:11
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Nevsun plans to drill over 130,000 meters during 2017 across 3 countries »

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NSU

Nevsun Resources

$2.94

-0.06 (-2.00%)

19:10
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Nevsun sees Bisha processing 2.4M tonnes of primary one in FY17 »

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NSU

Nevsun Resources

$2.94

-0.06 (-2.00%)

19:10
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NSU

Nevsun Resources

$2.94

-0.06 (-2.00%)

19:08
02/23/17
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Earnings
Nevsun reports FY16 EPS 4c, consensus 7c »

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SFTBF

SoftBank

$76.88

-0.02 (-0.03%)

, S

Sprint

$8.96

-0.33 (-3.55%)

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SoftBank, Sprint, TBCASoft partner in blockchain technology for telecoms »

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SFTBF

SoftBank

$76.88

-0.02 (-0.03%)

S

Sprint

$8.96

-0.33 (-3.55%)

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GOOG

Alphabet

$831.33

0.57 (0.07%)

, GOOGL

Alphabet Class A

$851.00

-0.36 (-0.04%)

18:59
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Periodicals
Alphabet's Waymo sues Uber for allegedly stealing trade secrets, Bloomberg says »

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GOOG

Alphabet

$831.33

0.57 (0.07%)

GOOGL

Alphabet Class A

$851.00

-0.36 (-0.04%)

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ALB

Albemarle

$92.41

-0.03 (-0.03%)

18:57
02/23/17
02/23
18:57
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18:57
Hot Stocks
Albemarle raises quarterly dividend 5% to 32c from 30.5c per share »

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UTX

United Technologies

$112.09

-0.57 (-0.51%)

18:32
02/23/17
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Carrier expands air conditioner, heat pump recall »

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  • 23

    Feb

BREW

Craft Brew

$15.60

-0.25 (-1.58%)

, BUD

AB InBev

$108.76

-0.4 (-0.37%)

18:17
02/23/17
02/23
18:17
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18:17
Hot Stocks
Craft Brew reschedules Q4 report to allow additional time for audit »

Craft Brew Alliance…

BREW

Craft Brew

$15.60

-0.25 (-1.58%)

BUD

AB InBev

$108.76

-0.4 (-0.37%)

03/08/13
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