McDonald’s Corp. (NYSE:MCD): Miller Tabak’s Jonathan Krinsky says that a combination trade of selling McDonald’s while simultaneously buying up Burger King Worldwide (NYSE:BKW) stock could prove to be profitable, writing that “each of these trades is interesting in its own right, but the pair trade in particular seems to make sense.” Part of the appeal is the wide gap between each stock’s float.
AT&T Inc. (NYSE:T): The second-largest American carrier will pay $556 million to redeem 6.625 percent notes due in October 2034, including $550 million for the principal and $6 million for the call premium. Seeking Alpha reports that AT&T had $76.2 billion in debt on its balance sheet as of June 30, and $8.4 billion in cash and investments. The company has recently slowed its buyback activity, although it has still managed to spend $3.3 billion to repurchase shares in the second quarter.
Buffalo Wild Wings (NASDAQ:BWLD): The wings chain announced that it will expand to the Philippines before the end of the year, where it has signed a development agreement. “The Philippines is among the fastest growing economies in Asia, so it is a natural choice for Buffalo Wild Wings,” said Matt Brokl, vice president of international development. “The economy is growing faster than China’s and with an expanding middle class, there is a lot of enthusiasm for casual dining.”
Tiffany & Co. (NYSE:TIF): A pair of downgrades from Citigroup and Credit Agricole have weighed on Tiffany’s shares, now down over 3 percent. Citigroup brings the shares to Neutral from Buy, while Agricole brought them to Underperform from Outperform.