Shares of Chipotle Mexican Grill ( CMG) were among the NYSE's winners Tuesday, rising 9% after the Mexican restaurant chain posted fourth-quarter results that were better than expected. The company earned $4.3 million, or 16 cents a share, on sales of $173.3 million. Analysts polled by Thomson First Call expected earnings of 11 cents a share and sales of $168.5 million. During the year-earlier period, the company recorded a loss of $3.7 million, or 14 cents a share, on sales of $127.5 million. The company's fourth-quarter same-store sales rose 14.3%. For 2006, Chipotle expects same-store sales growth in the mid- to high single digits. Shares were trading up $3.74 to $47.15. Pride International ( PDE) shares fell 2% after the drilling company delayed filing its 2005 annual report because it is investigating allegations of improper payments to foreign government officials. The possible improper payments, which go back a number of years, relate to its overseas operations, the company said. Pride also is looking at accounting entries and internal control issues. "At this time, the company does not know whether the allegations will be substantiated, and if so, who may be implicated or what impact the allegations or the investigation may have on the company, the company's business or the company's financial statements," the company said. As a result of the investigation, which is being "pursued aggressively," Pride said it may not be able to file its 10-K with the Securities and Exchange Commission by March 31, which is the expiration of the 15-day extension the company plans to file. The company, which had planned to release fourth-quarter earnings on Tuesday, will now post its results on Thursday. Shares were down 66 cents to $29.98. Shares of Lone Star Steakhouse ( STAR) rose 9% after the restaurant operator posted better-than-expected fourth-quarter earnings. The company reported earnings from continuing operations of $3.8 million, or 15 cents a share, on revenue of $202.9 million. Results included stock-based compensation costs, which cut earnings by $84,000. Analysts expected earnings of 9 cents a share. During the year-earlier period, the company had earnings from continuing operations of $10.7 million, or 47 cents a share, on revenue of $204.8 million.
Lone Star also said it closed 30 underperforming restaurants on March 12. The closings affected 13 owned locations and 17 leased locations. "These identified store closings resulted from management's analysis of not only the performance of these stores but also related to return on investment targets, the geographical location of these stores as compared to other company owned stores, and demographic changes in the local markets surrounding these stores," the company said. The closures will result in positive future operating cash flow, the company said, and result in proceeds from the sale of the owned properties of $15 million to $20 million. Shares were up $2.08 to $27.74. Shares of Dow Jones ( DJ) rose after the media company said it settled a contract guarantee dispute with Market Data and Cantor Fitzgerald. Dow Jones will pay the firms $202 million to settle the dispute, which related to certain payments owed by Dow Jones' now-defunct subsidiary Telerate for bond market data. The publisher said the settlement resolves claims in excess of $340 million against the company. The company had recorded a $265 million accounting reserve for the matter; it now will record a gain of $63 million, or 75 cents a share, in the first quarter to represent the excess of the reserve over the settlement amount. Dow Jones shares gained 9 cents to $40.70. Coeur d'Alene Mines ( CDE) slipped 3% after the silver producer said it plans to sell 22 million shares of stock. The company is selling the shares under an effective shelf registration statement on file with the SEC. The company said plans to use proceeds from the offering to fund potential acquisitions. Coeur d'Alene also will use the proceeds to fund existing development projects at its San Bartolome silver mine in Bolivia and the Kensington gold mine in Alaska. Deutsche Bank Securities and J.P. Morgan are serving as joint book-running managers of the offering. Shares were trading down 17 cents to $5.68. Shares of Kohl's ( KSS) fell 1% after the retailer announced the retirement of its chief operating officer. Arlene Meier, who served as operating chief since 2000 and joined the company in 1989, will retire by the end of the year, Kohl's said in a statement. The retailer said Meier will continue as chief operating officer until a replacement is found and joins the company. Meier will continue to serve as a member of the board until the end of Kohl's current fiscal year. Shares were trading down 45 cents to $50.72. NYSE volume leaders included Lucent Technologies ( LU), up 5 cents to $2.88; Advanced Micro Devices ( AMD), down 72 cents to $33.28; Las Vegas Sands ( LVS), down $1.54 to $49.71; Procter & Gamble ( PG), down $1.99 to $59.99; Motorola ( MOT), up 42 cents to $21.32; North Fork Bancorp ( NFB), down 24 cents to $28.96; and Goldman Sachs ( GS), up $6.13 to $146.85.
Nasdaq volume leaders included Sirius Satellite Radio ( SIRI), down 19 cents to $4.41; Avanex ( AVNX), up 44 cents to $2.74; Comverse Technology ( CMVT), down $3.06 to $26.09; Finisar ( FNSR), up 20 cents to $5.04; Intel ( INTC), up 6 cents to $19.79; Cisco Systems ( CSCO), up 19 cents to $21.05; JDSU ( JDSU), up 4 cents to $3.75; Human Genome Sciences ( HGSI), down $1.54 to $12.13; Microsoft ( MSFT), up 10 cents to $27.21; and Sun Microsystems ( SUNW), up 4 cents to $4.58.