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It was a backward day for the stock market as a down
performance - sparked by concerns over consumer spending
- halted its recent rally. The
slumped 1% at Wednesday's end, while the
Dow Jones Industrial Average
Several stocks were moving on earnings Thursday morning,
Jack in the Box Inc.
), but a pair of companies -
Linn Energy LLC
) were moving rapidly in opposite directions for nothing
involving their quarterly results.
Jack in the Box Inc. (JACK)
Jack in the Box had a
positive period as well
, but it wasn't just burgers that lifted the chain.
The restaurant posted earnings of 84 cents a share for its
most recent fiscal quarter. Analysts expected earnings of 70
cents per share. Revenue also beat estimates by a notch,
coming in at $361.2 million. Wall Street predicted revenue of
$360 million for the quarter.
division - a fast casual Mexican chain of restaurants
- did especially well last quarter, with sales surging 9.5%
Jack in the Box itself revamped its menu earlier this
year, changing some of its core items.
JACK shares were rocketing 11% higher in Thursday's premarket
Linn Energy LLC (LINE)
Linn Energy and its partner companies
Berry Petroleum Company
have filed for Chapter 11 bankruptcy protection, sending shares
hurtling even lower from already-penny-stock status.
According to Linn:
"LINN Energy, LLC (NASDAQ:LINE) ("LINN"), LinnCo, LLC
(NASDAQ:LNCO) ("LinnCo"), and Berry Petroleum Company, LLC
("Berry," and with LINN and LinnCo, the "Company") announced
today that the Company has entered into a Restructuring Support
Agreement with holders of at least 66.67% by aggregate
outstanding principal amounts of LINN's Amended and Restated
Credit Agreement, dated as of April 24, 2013, as amended, and
Berry's Second Amended and Restated Credit Agreement, dated as of
November 15, 2010, as amended (collectively, the "Credit
The companies are expected to continue operating as normal
throughout the process.
Linn Energy, which collects oil and natural gas assets, was
among the companies hardest hit by declining
since summer 2014. From June of that year, shares had collapsed
from above $32 to 30 cents before Thursday's trade.
LINN and LNCO were each off more than 60% on the news.
Monsanto Company (MON)
Agrochemical giant Monsanto was racing ahead on Thursday
morning on speculation that German pharma outfit
Bayer AG (ADR)
) - which also has a chemicals business - is considering a $40
billion buyout bid.
Details were thin, as the
was still developing.
This news came after a separate report saying that another
German chemical company,
BASF SE (ADR)
), was mulling a buyout as well.
Both companies were named in a
as possible buyer candidates for Monsanto.
MON shares are set to open Thursday up more than 15%.
As of this writing, Karl Utermohlen did not hold a position
in any of the aforementioned securities.
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