Restaurant chain, Panera Bread (NASDAQ: PNRA) was downgraded to an “equal-weight” from an “overweight” by Morgan Stanley on Monday. Morgan Stanley currently keeps a price target of $19.00, which implies an upside potential of 15.83% over closing the stock’s closing price on Friday. Morgan Stanley said that a third of Panera’s customers indicated that prices were way too high, which the firm thinks impacts the frequency. Another cause for a concern was catering, which has slowed in the recent past, the research report said.
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Major Movers on July 24; ILMN, PNRA, HBI, MFB
Shares of Illumina Inc. (NASDAQ: ILMN) struck a new 52-week high today after the San Diego, California-based company reported its financial results for the second quarter. Illumina, which is engaged in the development and manufacture of life science tools and integrated systems for the analysis of genetic variation and function, reported non-GAAP earnings of $0.43 per share for the quarter, compared to $0.40 per share reported for the same period in the previous year. Analysts were expecting ILMN to report earnings of $0.40 per share.
Continue reading Major Movers on July 24; ILMN, PNRA, HBI, MFB
Major Gainers and Losers in Mid-Day Trading on October 24; PNRA, BWLD, RFMD, GLW
Shares of Panera Bread Co. (NASDAQ: PNRA), a national bakery-café concept with 1,541 company-owned and franchise-owned bakery coffee locations in U.S. and Canada, are up sharply in trading today. At last check, PNRA shares were trading 6.88% higher at $171.37 on above average volume of 913,392. The stock hit an intra-day high of $172.08 in mid-day trading today.
Continue reading Major Gainers and Losers in Mid-Day Trading on October 24; PNRA, BWLD, RFMD, GLW