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Why Wendy's, Shake Shack, and Bloomin' Brands Jumped Today

Jeremy Bowman, The Motley Fool
·4-min read
Why Wendy's, Shake Shack, and Bloomin' Brands Jumped Today

Shares of Wendy's (NASDAQ: WEN), Shake Shack (NYSE: SHAK), and Bloomin' Brands (NASDAQ: BLMN) were climbing today along with the broad market as investors were encouraged by news of a drug trial that showed positive results in helping patents recover from COVID-19, and on better-than-expected earnings reports in the restaurant industry. As of 2:40 p.m. EDT, Wendy's stock was up 5.3%, while Shake Shack had gained 8.3%, and Outback Steakhouse-parent Bloomin' Brands jumped 17.8%. At the same time, the S&P 500 was 2.9% higher, showing the rally in the broad market.

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