Wendy's stock jumps on plans for nationwide breakfast, European expansion [MSNBC.com]
Yum! Brands, Inc. (YUM)
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Source: MSNBC.com
Wendy's stock jumps on plans for nationwide breakfast, European expansion Wendy's It also teased its unreleased third-quarter financial results. Wendy's CEO Todd Penegor reported North American same-store sales growth of 4.4%, helped by the return of its spicy nuggets. The company is scheduled to report its earnings Nov. 6. Shares of the company, which has a market value of $4.6 billion, jumped as much as 6.3% in premarket trading. The stock is trading up 1.5% after the market opened. The burger chain announced its Wendy's anticipates that breakfast sales will grow to at least 10% of its total daily sales. The company has attempted to enter breakfast three times previously, and analysts have expressed skepticism "We really are building this program in a different way," Wendy's U.S. President Kurt Kane told investors. Kane said that the company worked with franchisees to create the breakfast program. "They really pushed us hard to make sure that we had something that could work for our
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