Market Currents

• Today - Thursday, December 24, 2009

• 11:25 AM Ruth's Hospitality's (RUTH -2.5%) financial restructuring, which includes a PIPE transaction, a share offering and amended terms to its credit agreement, comes at a high cost to shareholders. "The dilutive impact to existing shareholders seems to exceed the deleveraging benefits," Raymond James says, especially in light of early signs of stability on high-end dining. Comment!

• Tuesday, August 26, 2008

• 10:48 AM Darden Restaurants (DRI) is down 15%. It cut its 2009 outlook, saying its previous forecast was overly optimistic. Darden and its peers (RUTH, MSSR, RRGB...) are taking it on both cheeks: Higher food prices, and tighter-fisted diners. Comment!