Customer Neta Moon, right, eats with a friend at a Famous Dave's of America Inc. franchise restaurant in Peoria, Illinois, U.S., on Thursday, March 21, 2013. Famous Dave's of America is a chain of barbecue restaurants started in 1994 that has 191 locations in 34 U.S. states and one Canadian province.
CEO move bumps stock, not rating
Famous Dave’s stock rallied last week on a surprise CEO change and the company’s fourth-quarter results. The stock rose 15 percent on the day of announcement and 5 percent the day after.
Mark Smith, an analyst with Minneapolis-based Feltl, was “puzzled” by the management change. In a research note last week, he said: “With many unanswered questions regarding the [fourth-quarter] results and uncertainties in a management transition, we are maintaining our ‘hold’ rating.”
Too soon to declare victory
Oakdale-based Imation is moving its business away from the declining sales in its legacy optical media storage devices to what it hopes will be a growing business in enterprise class or cloud-based data storage systems.
Analyst Eric Martinuzzi of investment bank Lake Street Capital Markets in Minneapolis has a “buy” rating on Imation. “It was nice to have some lumpy-to-the-good quarterly earnings call surprises for a change,” Martinuzzi wrote. But, he said, “it is still too soon to declare victory on the war against secular declines in its legacy business.”