Wall Street and two major airports reopened, and National Guardsmen rushed to rescue flood victims as the Northeast limped into recovery mode Wednesday, two days after being pummeled by epic Hurricane Sandy.
Superstorm Sandy slammed into the U.S. east coast on Tuesday and hurled a record 14-foot surge of seawater at New York City, flooded the financial district and left 7 million people without power.
Sandy has made landfall along the coast of southern New Jersey. While downgraded to a post-tropical cyclone, it still has sustained winds of 85 mph.
Hurricane Sandy began veering as predicted early Monday on a path that would take it over Washington, Baltimore, Philadelphia and New York putting it on a path that could endanger 50 million people.
Hurricane Sandy, a rare, late season storm, is already having a significant economic impact and is poised to be one for the record books in both meteorological and economic terms.
Oct 24- Chili's Grill& Bar parent Brinker International Inc on Wednesday said a cool-down in sales at established restaurants was stretching into the current quarter, sending its shares down more than 10 percent.
However, earnings for Dallas- based Brinker International Inc. missed expectations, sending its shares down $2.81, more than 8 percent, to $30.63 Wednesday morning. Brinker, which also has a stake in Romano's Macaroni Grill, said Wednesday that it earned $27.9 million, or 36 cents per share for the three months ended Sept. 26.
Yum! Brands surged nearly 9 percent after its earnings report showed no major drop off in business in China. But analysts see margin pressure looming.
--We also assigned a' B+' corporate credit rating to Bloomin' Brands Inc., as well as a' BB' issue rating and a' 1' recovery rating to OSI Restaurant Partners LLC's proposed $225 million revolving credit facility due 2017 and $1.0 billion term loan due 2019..
As the markets continue to focus on today's monthly non-farm payrolls numbers, a breakdown of the data show that hiring has been strong within the restaurant industry.
NEW YORK-- Olive Garden is tossing out its famous "When You're Here, You're Family" slogan to cater to a more modern lifestyle. It was a very stereotypical Italian family dinner, "said Jay Spenchian, executive vice president of marketing at Olive Garden.
Take a look at some of Friday's midday movers:
Based on the technicals, Cramer thinks these stocks could soon push higher.
A few restaurant stocks traded near new highs this week, but the “Fast Money” traders thought two companies stood out.
Consumer stocks performed well Monday, with Macy’s and Home Depot among those that hit new 52-week highs, but pricing pressures might slow the rally.
Shares of casual diners have been on a tear, thanks to the improving economy and consumers with a bit more discretionary cash. But while the latest surge may have some investors wary the stocks may be getting pricey, at least one analyst says to grab them while they're still hot.
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S&P futures moved up to a two-month high as December nonfarm payrolls came in at 200,000, well above the 150,000 consensus; the unemployment rate fell to 8.5 percent from a revised 8.7 percent in November.
Raymond James, an investment bank with $271 billion in client assets, said its best stock selections, which include Nvidia, may double in the next year.
Stocks accelerated their losses in the final hour trading to finish near session lows Wednesday amid ongoing concerns over the global economy and as investors cautiously waited for further developments in the euro zone.