Jack in the Box shares hammered
From Times Wire Services
Shares of Jack in the Box Inc., the owner of the namesake restaurant chain and Qdoba Mexican Grill, fell the most in almost two years after the company’s fourth-quarter profit forecast trailed analysts’ estimates.
The shares dropped $6.56, or 10%, to $59.21. They have gained 36% in the last 12 months.
The San Diego-based restaurant chain forecast fourth-quarter profit of 72 cents to 76 cents a share, below the 80-cent estimate of analysts surveyed by Bloomberg. Jack in the Box said it faces higher costs for beef, eggs and dairy.
