This morning, two market leading restaurant stocks are selling off sharply lower. Chipotle Mexican Grill Inc (NYSE:CMG), and Panera Bread Co (NASDAQ:PNRA) have both been major winners in 2012, however, today these stocks are falling significantly lower. When stock market leading stocks decline traders should always take note as these stocks are often falling out of favor with investors.
This morning, many of the leading restaurant stocks are declining lower. Chipotle Mexican Grill Inc (NYSE:CMG) has been one of the stronger restaurant stocks in the market. This leading stock sold off sharply on April 19, 2012 when it traded as high as $439.40 a share. Today, CMG stock is trading lower by $4.61 to $414.18 a share.
This morning, the leading fast food stock McDonald's Corp (NYSE:MCD) is trading lower by $1.06 to $97.50 a share. This leading restaurant stock is one of the only stocks in the sector to decline while the major stock indexes are rallying higher. Short term traders should watch for intra-day support around the $97.00 area.
Will High Gasoline Prices Eat Into The Restaurant Stocks?
As we all know by now, the United States Gasoline Fund (NYSEARCA:UGA) has soared higher since December 19, 2012. At that time, the UGA was trading around the $45.50 level. Earlier this week, the UGA hit a new 52 week high at $57.22 a share before pulling back slightly. This morning, the UGA is trading higher by 0.46 cents to $55.95 a share.
Buffalo Wild Wings Surprises The Street; Panera Hit By Profit Taking
Two fast growing restaurant companies released their quarterly earnings results on Tuesday after the closing bell. Both Panera Bread (NASDAQ: PNRA) and Buffalo Wild Wings (NASDAQ: BWLD) have been very hot stocks for years now. If you add in Chipotle (NYSE: CMG), these three companies form a growth trifecta in the casual dining segment that has absolutely trounced the broader market.
(FSTR, EXPO, CRWE, PNRA) Featured Stock by DoubleInStocks.com
L.B. Foster Company (NASDAQ:FSTR) has begun delivery of $3.4 million of rail and trackwork products to rail contractor Wintrow Construction of Barberton, Ohio for the construction of 8.5 miles of track and other track materials at the new Vallourec & Mannesmann Tubes (V&M) Star Steel pipe mill in Youngstown, Ohio.
Panera Bread Company marks Active Volume - NASDAQ:PNRA
Panera Bread Company (NASDAQ:PNRA) is a national bakery-cafe company. Panera and its subsidiaries operate a retail bakery-cafe business and franchising business under the names Panera Bread, Saint Louis Bread Co., and Paradise Bakery & Cafe. Panera Bread Company achieved its new 52 week high price of $148.00 where it was opened at $143.81 UP 2.44 points or +1.69% by closing at $146.56.