Why Bloomin' Brands (BLMN) Shares Are Getting Obliterated Today
What Happened? Shares of restaurant company Bloomin’ Brands (NASDAQ:BLMN) fell 7.4% in the morning session after the company reported mixed third-quarter results that showed a significant decline in profitability, outweighing beats on headline revenue and earnings. The restaurant operator surpassed Wall Street's expectations for revenue and adjusted earnings per share (EPS) and also raised its full-year profit guidance. However, investors looked past the headline figures to focus on deteriorating underly ...