Chipotle Mexican Grill Inc

The initial public offering of quick-growing restaurant chain Chipotle Mexican Grill Inc. priced at $22 a share Wednesday, above a recently raised forecast of $18 to $20, according to an underwriter. The 7.9-million-share offer is worth $173.8 million. Chipotle on Monday raised its price forecast from an earlier range of $15.50 to $17.50. McDonald's Corp. owns a majority stake in the 489-store Denver-based "fast-casual" restaurant chain and will remain a majority holder after the IPO.

The initial public offering of quick-growing restaurant chain Chipotle Mexican Grill Inc. priced at $22 a share Wednesday, above a recently raised forecast of $18 to $20, according to an underwriter. The 7.9-million-share offer is worth $173.8 million. Chipotle on Monday raised its price forecast from an earlier range of $15.50 to $17.50. McDonald's Corp. owns a majority stake in the 489-store Denver-based "fast-casual" restaurant chain and will remain a majority holder after the IPO.

Chipotle Mexican Grill Inc.'s success with hormone-free dairy products, naturally raised meat and local produce has the restaurant chain taking its message to a broader audience. The Mexican-inspired fast-casual chain released an animated video to movie theaters last week and hosted the first of many food-and-music festivals. "We think the more people understand where their food comes from and the impact on independent family farmers, animal welfare, the more they're going to ask for better ingredients," said Chipotle founder and co-Chief Executive Officer Steve Ells.

McDonald's Corp. said Friday that it was reviewing its strategic options for Boston Market, the restaurant chain it acquired seven years ago as part of a push to diversify its business. The statement came after Mike Andres, chief executive of Golden, Colo.-based Boston Market, said at that chain's annual meeting of all employees Thursday that McDonald's was looking at its options involving ownership of the chain.

Shares of fast-growing restaurant chain Chipotle Mexican Grill Inc. doubled in their market debut Thursday, closing at $44. But analysts warned that the first-day surge pushed the price-to-earnings ratio of the McDonald's Corp. spinoff to a level far above most of its rivals, a situation that could sour investors who bought at top prices. Chipotle shares gained $22 on the New York Stock Exchange, the biggest first-day advance for an initial public offering so far in 2006.

Chipotle Mexican Grill Inc. enjoyed double-digit increases in both its net income and revenue in its third quarter, but consider Wall Street unimpressed. The burrito chain's stock is tanking following its after-market earnings release, with shares down nearly 13%, or $36.44, to $249.49. Profit for the quarter ended Sept. 30 came in at $72.3 million, or $2.27 a share, up 19.6% from $60.4 million during the same period a year earlier. Revenue was up 18.4% to $700.5 million. But analysts had expected Chipotle, long an investor darling, to hit higher marks.

Are Chipotle and Forever 21 — which have been accused in recent days of fleecing their patrons out of pennies — money-grubbing Scrooges or high-volume companies focused on efficiency? After Chipotle Mexican Grill Inc. was accused of rounding bills to the nearest 5-cent amount, the restaurant chain said the tactic was a time-saving measure used in especially busy stores. Because totals were adjusted both up and down, the company said, it wasn't making a profit off the practice. But late last month, a class-action complaint was filed against Chipotle in federal court in California alleging that the chain "routinely overcharged" its customers.

Burger King Corp., the second-largest hamburger chain, said Wednesday that it would go public, allowing its private equity owners to cash out three years after buying the firm for $1.5 billion. Plans for an initial public stock offering will be filed this month or next month, Miami-based Burger King said. Texas Pacific Group, Bain Capital and Goldman Sachs Capital Partners bought Burger King from Diageo in 2002. The company has 11,000 restaurants.

Chipotle Mexican Grill Inc., the McDonald's-owned chain best known for its hefty burritos, filed paperwork Tuesday for an initial public offering of $100 million worth of stock. The company did not disclose in the Securities and Exchange Commission filing how many shares it planned to offer, an estimated price range or the size of McDonald's stake after the IPO. McDonald's Ventures and Chipotle are selling all the stock in the IPO. McDonald's Corp., based in Oak Brook, Ill.

Chipotle Mexican Grill Inc. reported that net income rose 19.6% for in its third quarter, but the profit still missed Wall Street's expectations, sending the burrito chain's stock tumbling as much as 14% after hours. The financial results, released after the market closed, continue a string of bad news that has some investors wondering whether the longtime stock market darling is starting to go sour. The Denver company's quarterly profit was $72.3 million, or $2.27 a share, compared with earnings of $60.4 million, or $1.90 a share, for last year's third quarter.

Chipotle Mexican Grill Inc., long a stock market darling, lost nearly a quarter of its market value in morning trading after failing to meet sales expectations for its second quarter. For most other restaurant companies, watching revenue spike 21% to $690.9 million would call for champagne. But analysts had expected the burrito chain's sales to clear $700 million when they were announced after the market closed Thursday. Chipotle, consistently one of the industry's top-performing stocks having surged nearly 60% in 2011, plunged as much as 24% to $307.27 a share Friday.