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Wendy’s up 8% on Preliminary Earnings Release

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Shares of the hamburger giant Wendy's Co (NASDAQ:WEN) are soaring this morning as a result of a preliminary fourth quarter earnings report that was above analyst expectations. The company expects net income at a range of $25.2 million to $28.7 million. According to the preliminary earnings report, same store sales increased 3.1 percent and unadjusted EPS is expected to between 10 cents and 11 cents a share, which above the 9 cents the company earned last year. Expectations among analysts were a profit of 6 cents a share.