We expect continued benefit from extended hours as more restaurants shift to 24-hour service.

While a new CEO is a positive for the stock, much uncertainty still remains with regards to the fundamentals of the business and the timing of a turnaround.

John Ivankoe

We are surprised by the magnitude of the earnings reduction for the full year given recent stabilization of Outback trends and very strong results at the secondary growth brands. We believe management is signaling that a full turnaround in terms of both sales and profits at the core Outback brand will take time and will perhaps be a 2007 event.

John Ivankoe