California Pizza Kitchen (CPKI), which I first discussed here on May 16, 2009, at a price of $13.53, continues to exhibit sideways action at or near $16.50. But I still like the business model at this stage. Here's why.

In 2011, CPKI's performance should improve as the U.S. economic recovery progresses. Look for same-store sales (in this case, restaurants) to rise about 2% to 2.5%, after a 3.3% decline in 2010.

Despite the broader markets trading down sharply today, OpenTable shares traded higher.

Initializing a position at this point could be very risky, as the stock tends to move in big swings. However, the strength being demonstrated is very impressive, and shareholders do have the potential to be considerably rewarded.

It appears that Wendy's/Arby's (WEN) is about to have a roast beef sale. The company announced this morning that it is considering selling the struggling Arby's chain in order to focus more on the Wendy's hamburger chain.

Both sides of the company's eateries, Wendy's and Arby's, have seen sales slump, but Arby's has had the most problems thanks mainly to sandwiches that can cost more than five bucks. With such a price tag , those sandwiches weren't selling wel in the current economic atmosphere.

Fast-food entity Sonic (SONC) closed Tuesday's regular session at a quote of $10.10. That represented a gain of a mere two pennies going into the after-the-bell earnings release. I guess investors weren't too excited by the prospects of the data.

Shares didn't do much in the extended session either, but popped about 4% at the opening bell Wednesday. For a longer-term perspective, take a look at the one-year chart. The stock seems to be doing its best to climb back to higher levels. Returning to the 52-week high of $13.11 would be nice.

Yet again, McDonald's (MCD) has asserted itself as the Big Mac Daddy of the fast-food world, reporting that its third-quarter earnings increased 10%. Proving that it does not rely solely on hamburgers and cheeseburgers, McDonald's attributed the impressive performance to blended-ice beverages and international growth.

McDonald's pulled in an impressive $1.29 per share ($1.39 billion) during the quarter, much better than last year's same-quarter results of $1.15 per share ($1.26 billion). Quarterly revenue also increased, checking in at $6.3 billion, which is 4.3% better than a year ago.

Seattle coffee icon Starbucks (SBUX) has been on the resurgence in 2010 after consumers fled during the Great Recession. In order to keep the profits percolating, SBUX is looking to roll out a fresh new menu of Frappucinos and iced coffee for the hot summer months.

Growth is crucial for SBUX stock now after it has weathered the worst of the economic downturn. Notable achievements over the past few months include:

• The announcement of the first-ever cash dividend to SBUX stock owners.
• Gains of about 220% in Starbucks shares since the 2009 lows, from $8.24 on March 9, 2009, to the mid-$26 range today.
• Four straight earnings reports topping Wall Street forecasts, with an average earnings surprise of almost 20%.