Shares of IHOP(IHP Quote) slipped after the operator of the International House of Pancakes restaurant chain said it expected 2006 earnings of $2.25 to $2.35 a share, including $2.5 million to $3.5 million of stock-option expenses.
Excluding option costs, IHOP forecast earnings of $2.35 to $2.45. Analysts expect the company to earn $2.42 a share for the year. IHOP also said it plans to add 64 to 69 new restaurants this year. IHOP fell $3.34, or 6.2%, to $50.16 in recent trading.
Steven Madden (SHOO Quote) shares were higher after the shoe seller said its fourth-quarter earnings would be better than expected. The company is projecting earnings of 49 cents to 51 cents a share, compared with 3 cents a share a year ago. For the most recent fiscal year, the company is looking for a profit of $1.35 to $1.38 a share, compared with the previous estimate of $1.20 to $1.22, and up from 86 cents a share a year ago. ...
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