Hamburger Chain Wendy's Falls Short of Wall Street Estimates

Wendy's earnings missed analyst estimates on Thursday. The Dublin, Ohio-based company reported profits of 8 cents per share and third quarter earnings of $22.8 million. The hamburger chain's revenue also came in below Wall Street forecasts at $512.5 million. Wendy's stock is down 13% in the last 12 months and has dropped 8% since the beginning of the year. The company announced a plan to focus primarily on restaurant development and consumer facing technology. Wendy's is also planning to sell its Canadian restaurants to reduce costs. The chain says it remains on track to achieve its 2014 earnings forecast.