While earnings topped expectations, sales were under some pressure and revenue fell short. Meanwhile, the company reaffirmed its forecast for 2014.» Read More
Wendy's International, which is looking to possibly sell itself, posted a lower-than-expected quarterly profit Monday despite cost savings, sending its shares down more than 3 percent in early trading.
U.S. stock futures pointed to a flat open on Wall Street Monday. Microsoft's bid for Yahoo, seen as a sign that many equities are attractively priced relative to value, inspired some investors.
The week ahead may be volatile, but markets are greeting it with less anxiety than we've seen in several weeks.
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Stocks ended the first week of the new year with steep losses as Friday's weak employment report spurred fears of a looming recession.
US stocks closed an uneasy session lower as investors, uncertain if the worst of the credit crisis is over, refrained from extending Tuesday's huge advance.
Triarc Cos, the restaurant chain led by activist investor Nelson Peltz, said in a filing on Tuesday it made an offer to buy hamburger chain Wendy's International on Nov. 12, but at a lower price than the range it indicated in July.
The November 12 deadline for potential buyers to submit bids for Wendy's International looms ahead. But a shaky financing package assembled by the hamburger chain's banks could throw a wrench in the auction and lead to lower offers, The Wall Street Journal reports.
Wendy's International's management Friday laid out plans to improve sales and profits by expanding beverage choices and boosting business during late-night and morning hours.
Wendy's International said its net income fell, but earnings before restructuring and other expenses rose 55 percent due to a menu price increase and cost controls.
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.