Restaurants On Fire!! (BKC, MCD, CMG, PNRA, BWLD, JACK)
By Swing Trader
September 02, 2010 3:17 PM
September 02, 2010 3:17 PM
Buoyed by the news Burger King Holdings (NYSE: BKC) would be sold to investment firm 3G capital, restaurants enjoyed a strong day.
The buyout offer of $24 a share for BKC represents a 46% premium to the shares' price before media reports Wednesday that a deal was in the works.
McDonald's (NYSE: MCD) climbed 0.66% today to finish above $75, which is an all-time high.
Chipotle Mexican Grill (NYSE: CMG) finished higher by nearly 3% to close over $164, a new all-time high.
Panera Bread (NASDAQ: PNRA) and Buffalo Wild Wings (NASDAQ: BWLD) rose 2.7% and 4.4%, respectively.
Jack in the Box (NASDAQ: JACK) rose 5% to $22.15 on heavy volume. Like BKC, there is speculation Jack in the Box could be a buyout target.
(c) 2011 Benzinga.com. All rights reserved. This material may not be published in its entirety or redistributed without the approval of Benzinga.
We're Loving
