Fly News Breaks for March 20, 2017
Mar 20, 2017 | 07:23 EDT
As reported previously, Canaccord analyst Lynne Collier downgraded Sonic to Hold from Buy. Collier cited challenging industry sales, the potential for Street estimates to be too high in the midst of soft sales, a lack of upcoming catalysts, and increasing competition from non-traditional venues such as convenience stores. Collier lowered her price target to $24 from $30 on Sonic shares.
News For SONC From the Last 2 Days
Oct 16, 2017 | 17:31 EDT
UP AFTER EARNINGS: Netflix (NFLX), up 1.2%. ALSO HIGHER: Immune Design (IMDZ), up 8.9% after it announced "positive" FDA feedback on its Phase 3 trial for CMB305... Spirit Airlines (SAVE), up 5.5% after it raised its total RASM guidance for the third quarter... UnitedHealth (UNH), up 0.4% after the stock was initiated with an Outperform rating at BMO Capital. DOWN AFTER EARNINGS: Badger Meter (BMI), down 10.4%... Sonic (SONC), down 2.2%. ALSO LOWER: Vical (VICL), down 4.6% after it filed to sell $23M of common stock... Abeona Therapeutics (ABEO), down 4.2% after it filed to sell common stock.
Oct 16, 2017 | 16:32 EDT
In the extended session shares are down over 2.6% to $24.15, following results. At that price next support is at $23.20. Resistance is at $24.80, the regular session closing price.
Oct 16, 2017 | 16:17 EDT
Sees FY18 system SSS growth 0%-2%. Sees FY18 CapEx $38M-$40M. Sees 70-80 new franchise drive-in openings in FY18.
Oct 16, 2017 | 13:13 EDT
Notable companies reporting after the market close, with earnings consensus, include Netflix (NFLX), consensus 32c... Celanese (CE), consensus $1.92... IDEX (IEX), consensus $1.06... Sonic (SONC), consensus 43c.