(By Arun - iStockAnalyst Writer) Here’s a look at what is coming in the offing in terms of results yet:
Jamba (NASDAQ: JMBA) has witnessed a dismal year so far, as has been the case with most companies yet. Emeryville-based Jamba is the parent of smoothie seller Jamba Juice Co. Jamba Juice Company, owns and franchises JAMBA JUICE stores. JAMBA JUICE is the leading blender of fruit and other naturally healthy ingredients. In September, the company announced that it has completed its previously announced financing agreement for a $25Mn two-year senior secured term note. Entities managed by Victory Park Capital Advisors, LLC were the sole investors in the transaction. A month after borrowing $25Mn at a minimum of 12.5%, the parent company of the Jamba Juice franchise, announced that its board of directors has adopted a “Stock Purchase Rights Plan” which it says is “designed to enable all Jamba Inc. stockholders to realize the full value of their investment” and to provide them “fair and equal treatment” in the event that “an unsolicited attempt is made to acquire the company. The plan would kick in “when a person or group acquires 15% or more” of its common stock “without prior Board approval.” The board said it currently “is not aware of any such effort.” All in all the stock has a majority of a bearish audience and is set to report its earnings this evening. The stock has lost in excess of 80% this year.
Jack in the Box (NYSE:JBX) the most significant news for the company was its intention to sell the company’s Quick Stuff® convenience stores. There are currently 61 Quick Stuff locations, each built adjacent to a full-size Jack in the Box® restaurant and including a major-brand fuel station. The company does not intend to sell the Jack in the Box restaurants adjoining these stores. In this regard, Linda Lang, chairman and chief executive officer, said, “The Board and management of Jack in the Box agreed that by selling Quick Stuff, we can focus on maximizing the potential of our Jack in the Box and Qdoba® brands. We appreciate the dedication of all of our Quick Stuff associates, and will look to them to assist in a smooth transition during this process.” In another event, the company reviewed the Oct. 3, 2008, press release of Western Sizzlin Corporation (NASDAQ:WEST) announcing its intent to offer an exchange of up to 680,500 shares of JBX stock for WEST stock. This represented only 1.2% of JBX shares outstanding at the end of the company’s third quarter. The company had no additional information pertaining to this unsolicited exchange offer and would not have any further comments on this matter until Western Sizzlin Corporation files the Form S-4 with SEC. Also the company has announced the promotions of Charles Watson to senior vice president and chief development officer and Michael Bamrick to vice president of franchising. On Friday we saw Wedbush Morgan analyst reiterating their Buy call on the stock.
