REPORTED IN PRIOR WEEKS – ONE DOWNGRADE – Cheesecake Factory downgraded from Outperform to Neutral by Mizuho.

Otherwise:

McDonald’s maintained Positively by 2 firms.

The Cheesecake Factory maintained at Sell by UBS.

Cracker Barrel maintained at Sell by1 firm, Overweight by 1 firm.

Valvoline maintained Equal Weight at 1 firm, Overweight at 1 firm, Buy at 1 firm.

Brinker mainained at Buy by 1 firm, at Outperform by 1 firm.

Maintained with Neutral ratings by 1 firm were: TX Roadhouse, BJ’s Restaurants, Restaurant Brands  & Bloomin’ Brands.

Maintained with Buy ratings by 1 firm were: Wingstop, Sweetgreen & Planet Fitness.

REPORTING IN THE  WEEK THAT WAS: THE ONLY COMPANY REPORTING WAS NOODLES & CO., WHICH EXCEEDED ESTIMATES, RAISED GUIDANCE, STOCK WENT UP ABOUT 25%, BUT IT IS NOT WIDELY FOLLOWED (OTHER THAN BY OURSELVES) AND THERE WERE NO RATINGS CHANGES.

Conference call transcripts are below for all companies reporting in prior weeks with ratings change (The Cheesecake Factory), reporting in THE WEEK THAT WAS: (Noodles & Co.) and Initiated Coverage (none).

The Cheesecake Factory (CAKE)

The Cheesecake Factory Incorporated (CAKE) Q1 2026 Earnings Call Transcript _ Seeking Alpha

Noodles & Co. (NDLS)

Noodles & Company (NDLS) Q2 2026 Earnings Call Transcript _ Seeking Alpha