The return of Burger King Worldwide Inc(NYSE:BKW) to France is the talk of the nation, according to French media reports and social networking buzz. Speculation on the eventual return of the Whopper to the nation ever since the chain pulled out of France in 1997 has taken on a life of its own, boding well for early sales. The bigger picture: The French appetite for fast food has finally won out over the vocal purists lamenting the "Americanization" of the Champs Elysees.
PDC Energy Inc(NASDAQ: PDCE) pops higher at the open after SunTrust recommends buying shares ahead of Utica test results, expecting positive production rates as well as a boost from Noble Energy's (NBL) analyst day on Dec. 6. The firm rates PDC Energy a Buy with a $43 price target, up from $37.
Abraxas Petroleum Corp.(NASDAQ: AXAS) after providing production guidance of 4,300-4,500 boe/day on average for Q4 and 4,900-5,200 boe/day for 2013 (21%-28% growth over 2012). AXAS also says it is actively marketing "numerous" non-core assets; an activist investor sent a letter earlier this week requesting asset sales and other steps to improve shareholder value.
Groupon Inc(NASDAQ: GRPN) on disappointment the board plans to keep Andrew Mason as CEO for now. The drop comes even though Evercore's Ken Sena, a long-time bear, has become slightly less bearish, raising his PT to $3 from $1 on a belief Groupon Goods e-commerce sales will grow to $2.5B in 2013 from $1B in 2012, mostly offsetting a big drop in daily deals sales to $2.6B from $4.2B. Sena notes Groupon has ~40M active customer accounts to push Goods offers to, and that its Goods revenue/active user is still well below that of peers.
Eni SpA (ADR)(NYSE:E) says it is not interested in exercising its right of first refusal on ConocoPhillips' (COP) stake in Kazakhstan's Kashagan oilfield. COP's Kashagan partners - including XOM, RDS.A and TOT, along with Eni - have nearly two months to decide whether they want the 8.4% stake in the project promised to India's ONGC.
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