Jack in the Box shares hammered
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Shares of Jack in the Box Inc., the owner of the namesake restaurant chain and Qdoba Mexican Grill, fell the most in almost two years after the company’s fourth-quarter profit forecast trailed analysts’ estimates.
The shares dropped $6.56, or 10%, to $59.21. They have gained 36% in the last 12 months.
The San Diego-based restaurant chain forecast fourth-quarter profit of 72 cents to 76 cents a share, below the 80-cent estimate of analysts surveyed by Bloomberg. Jack in the Box said it faces higher costs for beef, eggs and dairy.
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