Ruby Tuesday Jumps 20% After Company Explores Sale or Merger – March 13, 2017


Shares of Ruby Tuesday, Inc. surged almost 20% late Monday after the restaurant chain said it will explore strategic alternatives including a sale or merger to keep it in business.

The company reported preliminary results for the third quarter ended Feb. 28. Sales of established locations were down 4%. This is considered a key metric for financial health because it strips out the volatility of newly opened and closed locations, according to the Associate Press.

“We believe now is the right time to explore strategic alternatives that have the potential to position the business for long-tern success and to carry that legacy forward,” said Stephen Sadove, Non-Executive Chairman, in the press release.

The restaurant chain is in the beginning stage of strategic and financial review and doesn’t plan on making any further public comment until it has been completed.  No assurance was given to the outcome and timing.

5 Trades Could Profit “Big-League” from Trump Policies

If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington’s changing course.

Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>

Zacks Restaurant Recommendations: In addition to dining at these special places, you can feast on their stock shares. A Zacks Special Report spotlights 5 recent IPOs to watch plus 2 stocks that offer immediate promise in a booming sector. Download it free »