Bloomin' Brands Pulls Back Off Best Levels But Remains Firmly Positive

(RTTNews) - Shares of Bloomin' Brands, Inc. (BLMN) have pulled back well off their best levels of the day but remain firmly in positive territory in afternoon trading on Monday. After reaching a three-month intraday high, Bloomin' Brands is currently up by 3.4 percent.

Bloomin' Brands moved sharply higher early in the session after the parent of Outback Steakhouse and other restaurant chains reported better than expected third quarter earnings and raised its full-year earnings guidance.

The company reported third quarter adjusted earnings of $0.10 per share compared to analyst estimates for $0.08 per share and boosted its full-year earnings forecast to $1.41 to $1.47 per share from $1.38 to $1.45 per share.