Wendy’s Gains After Saying Arby’s Sale May Boost Profit
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Wendy’s/Arby’s Group Inc., the third-biggest U.S. hamburger chain, rose the most in 20 months after saying that a possible sale of the Arby’s brand would increase earnings and free cash flow.
Wendy’s/Arby’s advanced 36 cents, or 7.6 percent, to $5.10 at 4:02 p.m. in New York Stock Exchange composite trading, the biggest gain since June 2009. The shares have gained 10 percent this year.