S&P 500 Closes Lower for a Third Session; Dow Ekes Out Gain
The Wendy's Co
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Hoping to increase sales and traffic in their restaurants, fast-food and fast-casual operators are cranking up the menu innovation to produce items that stray from the gastronomic norm.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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?
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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.
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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.
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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.
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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.
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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.
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Trian Fund Management, owned by billionaire investor Nelson Peltz said Tuesday that its Triarc would be a "natural, strategic buyer" for Wendy's International, which has said it will explore selling itself.
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The TV ad market has lost millions of dollars of ad revenue to Internet ads, which are more targeted and flexible. But now a new technology company called Visible World, is making TV ad minutes be more valuable than ever. Visible World's Inteli-spot technology allows channels to automatically customize their ads to the time of day, channel, and show they're airing on.
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Stocks closed slightly lower as investors focused on rising oil prices and fluctuating interest rates. "Prices for crude oil are not really moving up as much as they are being pulled up by gasoline," said Stephen Schork, editor of The Schork Report. "Specifically, there's the persistent fear in the market that there is not going to enough gasoline to get us through the season."
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Will Alcoa be acquired?; FedEx gets downgraded - does the U.S. economy go with it?; Wendy's puts itself up for sale.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
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Wendy's International said Monday its special board committee, which was reviewing its strategic options, has concluded it will explore a possible sale of the hamburger chain. Wendy's , which also lowered its 2007 earnings forecast, had said in April it would weigh options to boost strategic value, including a possible sale.
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The chain said all of its domestic restaurants are now serving trans-fat free biscuits and French fries with one gram of trans fat per serving.