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Its shares, which dipped below $40 in late 2008 as the financial crisis intensified, peaked this April at $442.40 as the burrito chain posted double-digit increases in revenue year after year. But Chipotle Mexican Grill Inc. on Thursday forecast that revenue growth in stores open at least a year would be flat to a low-single-digit percentage gain next year.
Chipotle Mexican Grill’s earnings missed expectations for the third quarter and the fast-food chain forecast slowing sales and potentially higher food costs in 2013.
DENVER-- Restaurant chain Chipotle Mexican Grill Inc. said Thursday that its third-quarter net income rose 20 percent as traffic grew and it opened more stores. Chipotle's net income rose to $72.3 million, or $2.27 per share, from $60.4 million, or $1.90 per share, last year. Revenue rose to $700.5 million from $591.9 million a year ago.
Check out which companies are making headlines after the bell Thursday.
NEW YORK-- McDonald's Corp. reports its third-quarter results Friday, which should give a glimpse of how the world's biggest hamburger chain is coping with intensifying competition and the challenging global economy. WHAT TO WATCH FOR: After outperforming its rivals for years, some analyst think McDonald's may be entering a period of slower growth.
NEW YORK-- Wendy's pigtails are getting a tweak. It's only the fifth logo update since founder Dave Thomas opened the first Wendy's in 1969, and perhaps the most significant. Wendy's push has intensified since Brolick came on as CEO about a year ago.
Oct 11- Chipotle Mexican Grill Inc:. *Wedbush cuts Chipotle Mexican Grill Inc price target to $350 from. Reuters Station users, click. 1568.
NEW YORK-- Wendy's pigtails are getting a tweak. In an interview with The Associated Press, CEO Emil Brolick said the current logo had served the company well for the past three decades, but that it was time for an update. It's only the fifth logo update since founder Dave Thomas opened the first Wendy's in 1969, and perhaps the most significant.
Jamie Dimon speaks out, PC sales are in decline; U.S. sets tariffs on solar panels and Spain is downgraded by the S&P for the third time this year.
As the markets continue to focus on today's monthly non-farm payrolls numbers, a breakdown of the data show that hiring has been strong within the restaurant industry.
NEW YORK-- Olive Garden is tossing out its famous "When You're Here, You're Family" slogan to cater to a more modern lifestyle. It was a very stereotypical Italian family dinner, "said Jay Spenchian, executive vice president of marketing at Olive Garden.
The fundamental face of shopping malls is beginning to change; rather than just retail with a food court, malls are now becoming entertainment destinations.
DENVER-- The manager of a Denver Chipotle restaurant has become an Internet celebrity thanks to the wide-eyed pose he struck alongside Mitt Romney when the Republican presidential candidate stopped by for lunch. Marty Arps, 20, posed for a group photo with Romney and Chipotle Mexican Grill Inc. employees Tuesday afternoon.
Oct 3- Chipotle Mexican Grill Inc:. *BMO Capital Markets cuts Chipotle Mexican Grill price target to $340. Reuters Station users, click. 1568 For a summary of rating and price target changes on Canadian companies:.
Among the stock activity stories for Tuesday, Oct. 2, from AP Business News:. _ Shares of Chipotle Mexican Grill Inc. plunged after well-known hedge fund manager David Einhorn reportedly said that the burrito chain is facing increasing competition from Taco Bell as well as higher costs.
Shares of Chipotle Mexican Grill Inc. plunged Tuesday after well-known hedge fund manager David Einhorn reportedly said that the burrito chain is facing increasing competition from Taco Bell as well as higher costs. THE SPARK: Einhorn, who runs Greenlight Capital, was speaking at the Value Investing Congress, an investor conference, in New York Tuesday.
Hedge-fund manager David Einhorn was in top form at the Value Investing Congress conference in midtown Manhattan Tuesday morning, poking fun at a range of targets from Bill and Hillary Clinton’s marriage to Green Mountain Coffee Roasters spacer management — and perhaps most of all at investors who send stocks spiraling downward at his mere utterance of their company names.
**ARQULE INC, $2.30, down 53.9 pct The biotechnology company and Japan's Daiichi Sankyo Co Ltd. **GENERAL MOTORS, $23.82, up 3 pct. Hedge fund manager David Einhorn said auto-maker General Motors "is much healthier now," and is getting its product refreshments "right."
Take a look at some of Tuesday's midday movers:
Shares of Green Mountain Coffee Roasters, General Motors, Cigna, Chipolte and Herbalife all moved in reaction to remarks by hedge-fund manager David Einhorn at the Value Investing Congress Tuesday morning.