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Fly News Breaks for September 30, 2019
QSR
Sep 30, 2019 | 06:18 EDT
Longbow analyst Alton Stump upgraded Restaurant Brands to Neutral from Underperform. After calls with U.S. Burger King franchisees, the analyst believes same-store sales for Restaurant Brands' Burger King concept were up 4.5%-5.0% in Q3 ahead of his prior estimate of 2.0% growth and consensus at up 3.4%. The launch of Burger King's Impossible Whopper in mid-August drove a 500-600 basis point lift to same-store sales over the last six weeks, including 10%-15% growth in Whopper sales, Stump tells investors in a research note. He believes "significantly better than expected" comp performance from Burger King will be viewed positively by investors.
News For QSR From the Last 2 Days
QSR
Nov 12, 2019 | 10:45 EST
Bullish option flow detected in Restaurant Brands with 1,227 calls trading, 2x expected, and implied vol increasing over 1 point to 20.85%. Nov-19 70 calls and Dec-19 67.5 puts are the most active options, with total volume in those strikes near 950 contracts. The Put/Call Ratio is 0.34. Earnings are expected on February 11th.
QSR
Nov 12, 2019 | 09:44 EST
Unilever's (UN; UL) The Vegetarian Butcher unit announces that it has partnered with the Burger King (QSR) brand to launch the plant-based Rebel Whopper. In today's initial phase, the Rebel Whopper powered by The Vegetarian Butcher, is being launched simultaneously in over 2,500 Burger King restaurants across 25 countries in Europe, the companies stated. Financial terms of the deal are not disclosed. The Fly notes that in the U.S. Restaurant Brands' (QSR) Burger King brand offers an "Impossible Whopper" in partnership with rival plant-based meat maker Impossible. Beyond Meat (BYND), which also offers plant-based meat alternatives, is down about 3% in early trading. Reference Link