NEW YORK (TheStreet) -- Darden Restaurants' (DRI) worse-than-expected fourth quarter results are evidence that the restaurant-stock bubble may be popping. Darden, which recently announced the controversial sale of its struggling Red Lobster chain to Golden Gate Capital for $2.1 billion -- too cheap a price, in my opinion -- missed the 94-cent consensus earnings estimate by 10 cents, on revenue that was in line with estimates.
Darden shares opened lower and are down 2.2% as of 11:30 a.m. and nearly 11% year to date. Shares are in the $48.40 range.
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