THE WEEK THAT WAS, ENDING October 31st – active earnings week, stocks reacting both ways though no ratings changed - Mizuho initiates on 18 stocks (we do 60) - easy access here for conference call transcripts – click through yellow box on Home Page for over 60 write-ups, updated soon through 9/30

REPORTED IN PRIOR WEEKS – No ratings changes, however:

Mizuho initiates coverage as follows:

Underperform on Wendy’ —

Neutral on Denny’s, Jack in the Box, Darden, McDonald’s, Dine Brands & Papa John’ —

Outperform on Texas Roadhouse and Dutch Bros and Wingstop —

Buy on CAVA Group–

Otherwise:

Wendy’s maintained at Underperform by 1 firm.

Maintained with Positive ratings at 1 firm were: Dutch Bros, CAVA Group, Wingstop, Kura Sushi, Planet Fitness & Yum Brands.

Reporting companies in past week: Cheesecake Factory, Brinker, Chipotle, Starbucks, Shake Shack, Restaurant Brands, BJ’s Restaurants and El Pollo Loco.

for Cheesecake Factory: Mizuho initiates coverage with Outperform, 2 other firms are Negative, 2 are Neutral and 4 are Positive.

for Brinker: Mizuho initiates with an Outperform, 3 others are Neutral, 2 are positive.

for Chipotle: Mizuho initiates with Neutral, 3 others are Neutral, 1 is positive.

for Starbucks: Mizuho initiates with Neutral, 2 others are Neutral, 3 are Positive.

for Shake Shack: Mizuho initiates with Neutral, 3 others are Neutral.

for Restaurant Brands: nothing from Mizuho:) 2 firms are Neutral.

for BJ’s Restaurant Brands Mizuho initiates with Neutral, 1 other firm is Neutral.

Conference call transcripts are below for all companies reporting in prior weeks with ratings change in THE WEEK THAT WAS: (none), Initiated Coverage (Wendy’s, Denny’s, Jack in the Box, Darden, McDonald’s, Dine Brands, Papa John’s, Texas Roadhouse, Dutch Bros, Wingstop, CAVA Group, Cheesecake Factory, Brinker, Starbucks, Shake Shack, BJ’s Restaurants) companies reporting: (also Restaurant Brands & El Pollo Loco).

Wendy’s

The Wendy’s Company (WEN) Q2 2025 Earnings Call Transcript _ Seeking Alpha

The Wendy’s Company 2025 Q2 – Results – Earnings Call Presentation (NASDAQ _ WEN) 2025-08-08 _ Seeking Alpha

Denny’s

Denny’s Corporation (DENN) Q2 2025 Earnings Call Transcript _ Seeking Alpha

Jack in the Box

Jack in the Box Inc. (JACK) Q3 2025 Earnings Call Transcript _ Seeking Alpha

Darden

Darden Restaurants, Inc. (DRI) Q1 2026 Earnings Call Transcript _ Seeking Alpha

Darden Restaurants, Inc. 2026 Q1 – Results – Earnings Call Presentation (NYSE _ DRI) 2025-09-18 _ Seeking Alpha

McDonald’s

McDonald’s Corporation (MCD) Q2 2025 Earnings Call Transcript _ Seeking Alpha