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McDonald's on Friday forecast third-quarter earnings above the average Wall Street estimate as September same-store sales rose 5.9 percent on strength in Asia.
Wendy's International said on Thursday sales at its company-owned hamburger restaurants open at least 15 months rose 0.2% in the third quarter.
Thomas H. Lee Partners and Oak Hill Partners are among the private equity firms bidding for burger chain Wendy's International, sources said on Thursday, as the auction proceeds despite the impact of the credit crunch on deals.
David Karam, president of Cedar Enterprises Inc., said Wednesday that he and his partners have been invited by Wendy's International to a second round of talks. He is backed by Kelso & Co. and Oak Hill Capital Partners.
More than a dozen parties have expressed interest in Wendy's International sale process, the Wall Street Journal reported on Monday, citing a person familiar with the the situation.
Burger King pledged Wednesday to offer healthier fast-food items for children under 12, with plans to sell and market flame-broiled Chicken Tenders and apples cut to resemble thick-cut french fries.
Ceridian said Saturday it resolved a proxy battle with its largest shareholder, Pershing Square Capital Management, clearing the way for the payroll processing company to be acquired for about $5.2 billion.
Wendy's International said Tuesday it reached a deal with billionaire investor Nelson Peltz to give his companies access to Wendy's books as they consider making an offer to buy the No. 3 hamburger chain.
Burger King Holdings reported a net quarterly profit Friday, reversing a year-ago loss, helped by longer store hours and its low-cost breakfast menu.
Wendy's International said Wednesday that it now expects to serve breakfast in nearly 750 of its restaurants in the United States and Canada by the end of the current third quarter.
Billionaire investor Nelson Peltz, who earlier this week said he was prepared to offer $37 to $41 a share for Wendy's International , told CNBC that he hopes to negotiate "a fair confidentiality agreement" with the fast-food chain.
Stocks closed broadly lower after a mortgage lender said it is unable to borrow money and crude oil closed above $78 a barrel for the first time. "We think the corrective phase in the financials is not yet over," said John Roque, technical analyst at Natixis Bleichroeder.
Stocks are ready to spring higher on the opening as economic data, earnings and some merger news gets investor attention this morning. GM's better-than-expected earnings report is adding a positive tone.
Billionaire investor Nelson Peltz's Trian Partners said it was prepared to offer a takeover bid of $37 to $41 a share for Wendy's International, according to documents filed with the U.S. Securities and Exchange Commission on Monday.
The question confronting investors ahead of the weekend is whether its time to buy following the tumble in the stock market this week. Have investors suffered enough pain and panic for the market to mark a bottom?
McDonald's, the world's biggest restaurant company, on Tuesday posted a quarterly net loss after taking a big charge for the sale of its outlets in Latin America.
Wendy's International, the world's third-largest hamburger chain, said Thursday it would give preferential treatment to pork and chicken suppliers who improve animal welfare standards.
Burger King said Friday it will use trans-fat-free cooking oil at all its U.S. restaurants by the end of next year, following in the footsteps of other leading fast-food restaurants.
David Palmer, senior restaurant analyst at UBS, told CNBC’s “Squawk on the Street” that fast-food companies, especially those that rely on franchisees, may become private equity take-over targets.
Fast-food chain operator Triarc said Thursday billionaire investor Nelson Peltz resigned as chairman and chief executive, and will be succeeded as CEO by Roland Smith, chief executive of Arby's Restaurant Group.