Shares of Panera Bread Co. (NASDAQ: PNRA), a national bakery-café concept with 1,541 company-owned and franchise-owned bakery coffee locations in U.S. and Canada, are up sharply in trading today. At last check, PNRA shares were trading 6.88% higher at $171.37 on above average volume of 913,392. The stock hit an intra-day high of $172.08 in mid-day trading today.
For the third quarter ended September 25, 2012, PNRA reported net income of $37 million, or $1.24 per share, compared to net income of $29 million, or $0.97 per share reported for the same period in the previous year.
Bill Moreton, President and Co-CEO of Panera Bread, said that PNRA is pleased to report 28% earnings growth in the third quarter driven by a 6.2% increase in comparable store sales. Moreton further said that the strong results are reflective of the continued investments PNR is making in the quality of its food, marketing and operations, which the company believes are resulting in better and differentiated customer experience.
Shares of Buffalo Wild Wings (NASDAQ: BWLD), an owner, operator and franchisor of restaurants featuring a variety of menu items, are sinking in trading today. At last check, BWLD shares were trading 12.16% lower at $73.31 on above average volume of 1.54 million. The stock fell to an intra-day low of $72.86 in mid-day trading today.
BWLD shares are sinking after the company reported its third-quarter financial results. For the quarter ended September 23, 2012, BWLD reported total revenue of $246.9 million, representing an increase of 24.8% over the same period in the previous year. BWLD’s company-owned restaurant sales rose 26.2% to $228.4 million. Same-store sales for the quarter rose 6.2% at company-owned restaurants and 5.8% at franchised restaurants. Net earnings for the quarter fell 5% to $10.7 million.
Sally Smith, President and CEO of Buffalo Wild Wings, said that the company is pleased with its strong top-line growth of nearly 25% in the third quarter.
Shares of RF Micro Devices Inc. (NASDAQ: RFMD), a Greensboro, North Carolina-based company engaged in the design and manufacturing of radio frequency components and compound semiconductor technologies, are soaring in trading today.
At last check, RFMD shares were trading 12.98% higher at $4.44 on above average volume of 24.19 million. The stock hit an intra-day high of $4.69 in mid-day trading today.
RFMD shares are soaring in trading today after the company reported its second-quarter financial results. For the quarter ended September 29, 2012, RFMD reported revenue of $209.7 million. The company’s GAAP gross margin for the quarter was 31.7%, while non-GAAP gross margin for the quarter was 35.2%. GAAP diluted earnings for the quarter ($0.06) per share, while non-GAAP diluted earnings for the quarter were $0.03 per share.
Shares of Corning Incorporated (NYSE: GLW), a global, technology-based corporation, are down sharply in mid-day trading today. At last check, GLW shares were trading 8.95% lower at $12.21 on above average volume of 24.82 million. The stock fell to an intra-day low of $12.11 in mid-day trading today.
GLW shares are sinking after the company reported its third-quarter financial results. For the third quarter of 2012, GLW reported sales of $2.04 billion, down 2% on a year-over-year basis. The company’s earnings for the quarter were $0.35 per share. Excluding one-time items, GLW reported earnings of $0.34, down 29% on a year-over-year basis.
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