Eagle & Beagle
Our eagle this week may be poised to gain more altitude after a solid week.
Shares of Sonic Corp., the nation's largest drive-in restaurant chain that is based hard on the bank of the Bricktown Canal, gained 6.6 percent last week. SONC stock closed Friday at $9.48.
The company last week reported a nice third-quarter profit, reversing the net loss of the same quarter last year, which included a debt restructuring.
With the onset of summer and the successful return of the oddball “two guys” ad campaign, Sonic certainly will sell an ocean of cherry limeades this quarter.
That should quench the thirst of investors. If only something could be done for us forlorn Ched R Pepper fans.
The markets have taken some of the hide of our beagle this week.
Oklahoma City-based PostRock Energy Corp. this month had its borrowing base cut by $24 million, which may not sound like a lot. However, the firm is nearly at its current limit, and reported it had just $300,000 in cash on hand at May 31.
Traders shaved 31 percent off the price of PSTR shares last week. The stock closed at $1.33, an all-time low.
Eagle & Beagle is a weekly look at the state's high-performing (eagle) and low-performing (beagle) by Business Writer Don Mecoy.