Diamonds and Dogs


Chipolte Mexican Grill Inc. (CMG)

Chipolte Mexican Grill had its fiesta ruined today, down 21.45% at $317.22. The company's shares plunged after its second-quarter sales and fears of rising food costs led to analyst downgrades on Wall Street. While Chipolte's revenue increased by 8 percent from a year ago, the company still missed analysts' projections. While Chipolte is still growing, its looks to be losing some steam which is a serious concern for investors. Furthermore, Investors are also worried that the company will face rising food costs next year as a result of the severe drought in the Midwest, which has pushed corn prices to record levels. These issues led Janney Capital Markets and Deutsche Bank also downgraded the company from "Buy" to "Neutral." Raymond James analyst Bryan Elliot also lowered his rating on the company to "Underperform."

Kayak Software Corp (KYAK)

Kayak Software floated upward today, up 28.77% at $33.48. The company's IPO was today, it was priced at $26 a share Thursday night. The stock opened at $30.10, even though Kayak had originally planned to sell its 3.5 million shares at a range of $22-$25. Kayak CEO Steve Hafner said, "It went exactly like I wanted it to&There were never any starts and stops with the IPO. When we thought the time was right and the story would be well-received, we were ready, and that day is today." The online travel company reported a profit of $8.1 million, reversing a loss of $12 million in the same period a year earlier. Furthermore, revenue in the first quarter totaled $73.3 million, compared to $52.7 million a year earlier. Kayak didn't see any rapids today during its IPO.

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