Diamonds and Dogs
Something is cooking at Carrol's Restaurant Group (TAST). The local and largest Burger King franchise restaurant operator is up 15% to a three month high following earnings and expansion plans. Non-GAAP earnings for the full year rose 12% to $102.3 million. Sales in the fourth quarter rose 8.4% to $307.7 million. Carrols entered into a definitive agreement to acquire 166 Burger Kings and 55 Popeyes restaurants from Cambridge Franchise Holdings in 10 Southeastern and Southern states.
CVS Health (CVS) taking a hit. The pharmacy health care service company is down 8% not far from a 52 week low following earnings. The company easily beat expectations as revenues rose 12.5% to $54.42 billion, but then lowered guidance. CVS now sees 2019 earnings of $6.68-6.88 a share verse estimates of $7.34 a share. 2019 is expected to be a year of transition for CVS as they digest the acquisition of Aetna for $68 billion.