Shares of Buffalo Wild Wings Inc., the meat-centric sports-bar chain, surged 34 percent Thursday after profit and sales beat analysts' estimates. The St. Louis Park company's stock jumped $7.51 to $29.42, the biggest gain since November 2003. Buffalo Wild Wings increased earnings and revenue while other casual-dining restaurants posted declines as consumers traded down to cheaper options. Net income gained 29 percent to $7.73 million from $6.01 million a year earlier, Buffalo Wild Wings said Wednesday after the U.S. markets closed.
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Securities increase Wells Fargo's loss Wells Fargo & Co., the second-biggest U.S. home lender, said its fourth-quarter loss was wider than first reported because of additional costs tied to securities holdings. The bank recorded a pretax charge of $328.4 million related to holdings of perpetual preferred securities, the San Francisco-based company said. That increased the quarterly loss reported last month to $2.73 billion, or 84 cents a share, from $2.55 billion, or 79 cents, the bank said. Wells Fargo blamed "credit events" after results were reported on Jan. 28.
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