Wall Street had a big appetite for chicken wing chain Wingstop. The Dallas-based restaurant surged in its trading debut, valuing the company at nearly $1 billion. Shares were priced at $19 a piece and all the wings you can eat. The stock closed at $30.59 an increase of 61 percent.
FedEx will book a pre-tax charge of more than $2 billion. This is a result of the shipping company’s decision to switch to a pension accounting method that it says will make it easier to gauge plan performance. Shares were off a fraction to $183.63.
Bob Evans is considering either converting to a real estate investment trust otherwise known as a REIT, or selling and than leasing back its restaurant properties. The restaurant chain and food distributor will make a decision within the next few months. Shares were up almost three percent on the news to $47.41.