LIVESTOCK HIGHLIGHTS: Top Stories of the Day

Wendys Forecasts Commodity Inflation This Year — Market Talk

10:36 ET – Wendys (WEN) expects commodity cost inflation of 1.5%-2% this year, ending what had been a deflationary environment in food costs last year. In 4Q, the company had predicted flat commodity cost for this year. The cost of raw ingredients is expected to pressure margins this year, the burger chain said. That doesnt mean the gap between restaurant and supermarket prices is going to narrow significantly. Grocery stores are still expected to remain competitive with one another on price, and labor costs are continuing to put pressure on restaurant prices. WEN said it expects labor inflation of 4% this year. But higher menu prices have driven diners away from restaurants. WEN told investors that consumers who are managing debt and higher healthcare expenses are still seeking restaurant deals and that restaurants are competing hard to attract guests. WEN gains 5.7% to $15.97. (julie.jargon@wsj.com)

Wendys Systemwide Sales Growth Slows — Market Talk

8:24 ET – Wendys (WEN) reports slower sales growth from restaurants in North America open for at least 15 months and systemwide during 1Q. Global systemwide sales, which includes sales from both company-operated stores and franchises, rise 3% in 1Q compared to 5.2% last year. However, CEO Todd Penegor says 1Q results are solid despite a tough prior-year comparison. WENs same-restaurant sales growth in North America is positive for 17th consecutive quarter. WENs 1Q profit and revenue top views and shares rise 3.7% premarket. (imani.moise@wsj.com; @moisenoise)

Whole Foods Tweaks Annual Outlook — Market Talk