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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of scrumptious restaurant chain Panera Bread (Nasdaq: PNRA ) were cooking today, jumping 17% after the company released earnings and outlook that topped expectations.
So what: In the fourth quarter, earnings reached $1.21 per share from $0.95 last year, topping estimates of $1.18 by analysts. The company expects earnings to be as much as $4.45 next year, up from a previous estimate of $4.35.
Now what: Panera and Chipotle Mexican Grill (NYSE: CMG ) both reported outstanding earnings yesterday as they continue to prove high-quality food will keep the customers coming. Both stocks are a bit on the expensive side with Panera trading at 26.3 times next year's earnings estimate, but they both seem to be worth it. I am going to stick with this Motley Fool Stock Advisor pick and think Panera will continue to serve up outstanding results. Speaking of, Panera Bread sounds great right now.
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