The Wendy’s Co (NASDAQ:WEN) falls by 5.56%, Ariad Pharmaceuticals, Inc (NASDAQ:ARIA)
The Wendy’s Co (NASDAQ:WEN): In the trading session on Wednesday, The Wendy’s Co (NASDAQ:WEN) dropped by 5.56%. It opened at a share price of $6.00 which incidentally was also its intraday price, before it dipped to $5.70 per share. More than 14.55M shares were traded on Wednesday which stood way above the average volume of 3.73M that is measured over 30 days.
Emil Brolick, the company’s Chief Executive Officer announced in earnings call for the first-quarter that Wendy’s would be adjusting its market calendar in order to pull in more muscled sales-growth in the second half of 2013 even as its first-quarter revenue did not meet projections. For the first-quarter that ended 31 March, the company’s net income dipped drastically to $2.1 million or 1 cent a share in comparison to the $12.4 million or 3 cents a share that it stood at in the same period in the previous year. The 2012 first-quarter results were inclusive of an after tax gain or around $18 million which was a result of certain investment sales.
Ariad Pharmaceuticals, Inc (NASDAQ:ARIA): The company shares dipped by 3.59% in Wednesday’s trading session. The Ariad Pharmaceuticals, Inc (NASDAQ:ARIA) opening share price was $17.51 which rose to an intraday price of $17.58 before falling to $16.87. More than 2.53M millions were traded on this day which did not reach the average volume of 3.17M that is calculated over a 30-day period.
The company reported 36 cents per share loss in the first-quarter which was much higher than the 25 cents per share loss that it had incurred a year ago in the same quarter. However, this figure was lower than the average analyst estimate of 37 per share. Ariad Pharmaceuticals, Inc (NASDAQ:ARIA)’s first-quarter revenue was $6.5 million in comparison with the $0.08 million that it stood at, in the previous year and outdid the $4 million consensus estimate. There was a rise in R&D expenses which touched $41.3 million, on a year-on-year basis after a rise of 43.4%. This increase is attributed to the fact that the company is in development and manufacturing efforts for its AP26113 and Iclusig drugs.