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Chipotle Mexican Grill Inc. said it will seek strategic alternatives for its ShopHouse brand restaurants, after the Southeast Asian cuisine chain failed to gain traction. In a conference call with analysts, after Chipotle reported third-quarter earnings that missed expectations, the company said that ShopHouse “hasn’t demonstrated the ability to support an attractive unit economic model,” according to a transcript provided by FactSet. The ShopHouse concept started in 2011, and how has 15 restaurants in three markets. Chipotle said it took a $14.5 million charge to fully impair the assets related to ShopHouse. Chipotle’s stock, which was little changed in recent after-hours trade, has tumbled 15% year to date, while the S&P 500 has gained 4.9%.

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Capital One Financial Corp. shares slipped in the extended session Tuesday after the credit-card company reported quarterly results. Capital One shares declined 2.5% to $73.50 after hours. The company reported earnings of $1.90 a share on revenue of $6.46 billion. Excluding a charge for a U.K. Payment Protection Insurance customer refund, the company would have reported earnings of $2.03 a share. Analysts surveyed by FactSet had forecast earnings of $1.94 a share on revenue of $6.4 billion.

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Juniper Networks Inc. shares surged in the extended session Tuesday after the computer network company forecast higher-than-expected quarterly results. Juniper shares jumped 10% to $26.07 after hours. The company said it expects adjusted third-quarter earnings of 58 cents a share on revenue of $1.29 billion. Analysts surveyed by FactSet had estimated 52 cents a share on revenue of $1.25 billion.

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Chipotle Mexican Grill inc. shares fell 0.7% in Tuesday after-hours trading after the fast-casual restaurant chain reported third-quarter results that missed estimates. Net income totaled $7.8 million, or 27 cents per share, down from $144.9 million, or $4.59 per share, for the same period last year. The FactSet consensus was $1.56 per share. Revenue for the quarter totaled $1.04 billion, down from $1.22 billion lsat year and missing the $1.09 billion FactSet consensus. Same-restaurant sales declined 21.9%. The FactSet consensus was for an 18.3% decline. Chipotle’s board has approved an additional $100 million to repurchase shares, on top of $69.2 million available as of Sept. 30, 2016 from a previous buyback program. Management forecasts same-store sales declines in the low-single-digits for fourth-quarter 2016. And for 2017, Chipotle is targeting earnings totaling $10 per share. The FactSet consensus is $9.88. Chipotle shares are down 15.5% for the year so far while the S&P 500 Index is up 4.9% for the same period.

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Shares of Pandora Media Inc. slide in Tuesday’s extended session after the internet radio company recorded another quarterly loss. Pandora reported its third-quarter loss narrowed to $61.5 million, or 27 cents a share, from a loss of $85.9 million, or 40 cents a share, a year earlier. On an adjusted earnings before interest, tax, depreciation and amortization basis, which excludes certain items, the company lost $6.6 million. Revenue rose 13% to $351.9 million. Analysts surveyed by FactSet had forecast a loss of 6 cents a share on revenue of $366 million. In the fourth quarter, Pandora projects revenue in the range of $362 million to $374 million while adjusted EBITDA loss is expected to come in between $51 million to $39 million. Pandora shares dropped more than 5% after hours.

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Shares of Panera Bread Co. rose more than 5% late Tuesday after the fast-casual restaurant chain reported third-quarter earnings above expectations and a rise in same-store sales. Panera said it earned $32 million, or $1.37 a share, in the quarter, compared with $32 million, or $1.27 a share, in the year-ago period. Adjusted for one-time items, Panera reported earnings of $1.37 a share, compared with $1.32 a year ago. Sales reached $684 million in the quarter, from $665 million a year ago. Analysts polled by Factset had expected adjusted earnings of $1.34 a share on sales of $680 million. Company-owned comparable-store sales were up 3.4% in the quarter, the company said. Panera also raised its expectations for full-year 2016 per-share profit to $6.67 to $6.72, up 7% to 8% from a previous estimate. Shares had ended the regular trading day down 2%.

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From:: Stock Market News