Tag Archives: Cheesecake Factory Inc

Business

Horizon Therapeutics, Coupa Software, Weber and more

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Check out the companies making headlines in midday trading.

Horizon Therapeutics – Shares of the drugmaker jumped 15% after the company announced it has agreed to be acquired by Amgen in a deal valued at approximately $26.4 billion, or $116.50 per share, in cash. The deal will give Amgen a chance to build its portfolio of rare-disease treatments. Amgen shares fell more than 1%.

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Weber – Shares of the grill manufacturer jumped 23% after the company announced a deal to be taken private by BDT Capital Partners. BDT will purchase Weber for $8.05 per share, according to the announcement.

Coupa Software – The maker of business spending management software jumped 26% after the private-equity firm Thoma Bravo agreed to buy the company in an all-cash deal worth $8 billion, or $81 per share.

Under Armour – The athletics apparel stock jumped 10% following an upgrade to buy from hold by Stifel. The firm cited Under Armour’s “better margin certainty” and management of inventory among its reasons for the upgrade.

Boeing – Shares of the aircraft maker jumped 2.8% after the Economic Times reported over the weekend that Air India is close to signing an order to acquire up to 150 737 Max jets.

Rivian – The electric vehicle stock shed more than 4% on news that it’s pausing plans to make electric vans in Europe in conjunction with Mercedes-Benz. Rivian CEO RJ Scaringe said the company is pursuing “the best risk-adjusted returns” on its capital investments, which includes focusing on its consumer and existing businesses. News of the agreement with the automobile maker was first announced in September.

Monday – Shares of software publisher Monday jumped 6% after JPMorgan upgraded the stock to overweight from neutral and boosted its price target.

Cheesecake Factory, Brinker International – The two restaurant stocks fell following downgrades to sell from neutral by Goldman Sachs. The firm said inflation will continue hurting the companies into 2023. Cheesecake Factory shed 1.6%, while Brinker, the parent of Chili’s and Maggiano’s Little Italy, dropped 2.9%.

Box – The software-as-a-service company gained 6.5% after JPMorgan upgraded the stock to overweight from neutral, arguing it is outperforming other technology names and can continue doing so going forward.

Tesla – Shares of Tesla fell more than 4% after a YouGov survey showed that negative views of the electric vehicle maker have overtaken positive ones just slightly. Tesla’s brand has deteriorated after CEO Elon Musk took over Twitter.

— CNBC’s Tanaya Macheel, Yun Li, Alex Harring, Samantha Subin and Jesse Pound contributed reporting.

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Business

DoorDash, Hasbro, Palantir, Walmart and more

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The board game Monopoly by toymaker Hasbro at a toy store in New York City.

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Check out the companies making headlines in midday trading Thursday.

DoorDash — Shares of DoorDash jumped more than 11% after the food delivery company’s quarterly revenue turned out better than expected. DoorDash reported $1.3 billion in revenue last quarter, beating a Refinitiv estimate of $1.28 billion. The company also posted strong order numbers and added new users, suggesting that demand for food delivery services remains high.

Palantir Technologies — Shares of Palantir dropped 10% after the company’s earnings fell short of forecasts for the fourth quarter, though its revenue beat estimates. Its reported net loss was $156.19 million, wider than the $148.34 million loss seen in the year-earlier period.

Hasbro — The toymaker saw shares rise more than 3% after activist investor Alta Fox Capital Management nominated five directors to the company’s board. Alta is pushing for Hasbro to spin off its Wizards of the Coast unit and its digital games unit, which include franchise brands like Dungeons and Dragons and Magic: The Gathering. Alta owns a 2.5% stake in Hasbro worth around $325 million.

Fastly — The cloud computing company’s shares plunged 30% on disappointing full year guidance. Fastly reported a fourth quarter loss, though it was narrower than analysts had expected, and revenue beat consensus estimates.

Nvidia — Shares of the chipmaker fell 6% despite the company reporting strong quarterly results. Nvidia noted that its automotive business, which represents a growth market for its chips, had revenue drop 14% to $125 million. It also came under pressure on concerns about its exposure to the cryptocurrency market.

Cheesecake Factory — The restaurant chain saw its shares rise 4% despite it reporting earnings that missed analysts’ expectations along with increased input costs that negated a beat in revenue. The company is planning a price increase in new menus that could lift prices later this year.

Walmart — The retail giant’s shares rose more than 2% after Walmart topped earnings expectations and said it’s on track to hit long-term financial targets, calling for adjusted earnings per share growth in the mid single-digits.

Tripadvisor — The travel site operator fell 2.7% following an unexpected quarterly loss and a revenue miss. Tripadvisor said it expects the travel market to improve significantly in 2022 following what it called “unexpected periods of virus resurgence” in 2021.

Cisco Systems — The software company added about 4% after it reported a beat on quarterly revenue and earnings and issued an upbeat full-year forecast, citing strong demand from cloud computing companies. Cisco earnings of 84 cents per share beat estimates by 3 cents. Revenue came in at $12.72 billion, versus estimates of $12.65 billion.

Equinix — Digital infrastructure company Equinix gained more than 4% after TD Securities upgraded the stock to buy from hold, citing its recent pullback. The upgrade came a day after the company reported fourth quarter adjusted EBITDA that beat estimates, as well as a slight revenue beat.

— CNBC’s Yun Li contributed reporting.

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Business

Cisco, DoorDash, Fastly and more

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A DoorDash sign is pictured on a restaurant on the day they hold their IPO in New York, December 9, 2020.

Carlo Allegri | Reuters

Check out the companies making headlines after the bell: 

DoorDash — DoorDash shares surged more than 32% in after-hours trading despite a wider-than-expected quarterly loss. The delivery company reported a loss of 45 cents per share while Wall Street expected a loss of 25 cents per share. However, DoorDash’s fourth-quarter revenue of $1.3 billion beat estimates.

Fastly — The cloud computing services provider saw its shares plunge more than 22% after hours even after a better-than-expected earnings report. Fastly posted an adjusted loss of 10 cents per share on revenue of $97.7 million. Analysts expected a loss of 16 cents per share on revenue of $92.5 million, according to Refinitiv. The company guided to a wider-than-expected first-quarter loss per share.

Cisco Systems — Shares of Cisco rose nearly 5% in extended trading after the company’s fiscal second-quarter report beat Wall Street expectations. The company posted adjusted earnings of 84 cents per share on revenue of $12.7 billion. Analysts surveyed by Refinitiv expected earnings of 81 cents per share on revenue of $12.65 billion. Cisco also gave a sunny outlook for the rest of its fiscal year.

Nvidia — Shares of Nvidia dipped more than 1% after hours despite a better-than-expected earnings report. The chipmaker posted an adjusted profit of $1.32 per share versus $1.22 expected. Revenue also topped the Refinitiv consensus estimate. However, first-quarter gross margin guidance came in slightly lower than analysts expected.

TripAdvisor — TripAdvisor shares retreated 7.5% after hours as the company missed top and bottom-line expectations in its latest quarterly results. The company posted an adjusted loss of 1 cent per share versus the Refinitiv consensus of 8 cents earned per share. Revenue also fell short of expectations.

Fisker — Shares of the electric vehicle maker gained 4.3% in extended trading after the company’s quarterly financial results met Wall Street expectations. Fisker posted a loss of 47 cents per share.

Applied Materials — The semiconductor stock rose 3.9% in extended trading after the company beat analysts’ earnings estimates. Applied Materials reported first-quarter adjusted earnings of $1.89 per share on revenues of $6.27 billion. Analysts had expected a profit of $1.85 per share on revenues of $6.16 billion.

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Business

Carnival, Nike, Match and more

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The Carnival Cruise Ship ‘Carnival Vista’ heads out to sea in the Miami harbor entrance known as Government Cut in Miami, Florida June 2, 2018.

RHONA WISE | AFP | Getty Images

Check out the companies making headlines in midday trading.

Carnival — Carnival shares rose 4% after the cruise line said voyages for the third quarter were cash flow positive and expects this to continue. Shares of Norwegian Cruise Line gained 3.2% and Royal Caribbean added 3%.

Match Group — Shares of Match Group rose 3.6% after the online dating platform announced on Thursday that it will sell shares of its common stock in a registered direct offering. The price per share and number of shares of common stock issued will be calculated by a volume-weighted average price during a five-day averaging period starting Friday, the company said.

Merck — Shares of the pharmaceutical giant rose 1.2% on Friday after Merck and AstraZeneca announced that treatment using the drug Lynparza showed positive results in a phase-three trial. The trial results suggest that the treatment slows the progression of prostate cancer and show a trend toward increased survival, the companies said.

Nike — The apparel stock fell more than 6% after Nike cut its full-year guidance for sales growth. The company said supply chain issues in Vietnam were slowing sales. Nike now projects mid-single-digit revenue growth for its 2022 fiscal year, down from prior guidance of low-double-digit growth.

Costco — Shares of the retailer jumped more than 2% following Costco’s fourth-quarter results. The company beat top- and bottom-line estimates during the quarter, earning $3.90 per share excluding items on $62.68 billion in revenue. Analysts surveyed by Refinitiv were expecting $3.57 per share on $61.3 billion in revenue.

Salesforce — Salesforce extended its Thursday gains, rising 2.2% after Piper Sandler upgraded the stock to overweight from neutral, saying it’s confident the company could see “a multi-year period of multiple and profit expansion.” The stock jumped on Thursday after the software company raised its full-year 2022 revenue guidance.

Coinbase — Shares of the cryptocurrency exchange slid about 1.6% even after Needham reiterated the stock as a buy. Cryptocurrencies plunged Friday morning on news that China is issuing yet another crypto crackdown. Coinbase derives 90% of its revenue from retail transactions, which is highly correlated with crypto asset prices, according to Needham, so its stock price tends to move in tandem with cryptocurrencies.

Cheesecake Factory, Dave & Buster’s — Cheesecake Factory and Dave & Buster’s added 4.4% and 5.2%, respectively, after Jefferies upgraded the restaurant stocks to buy from hold. “We are incrementally more positive on the full service category following delta/inflation sell-off and exuberant Consensus forecasts reigned in,” Jefferies said.

Roku — Roku shares fell 3.8% after Wells Fargo downgraded the video streaming platform to equal weight from overweight. Wells Fargo said rising competition makes expectations for Roku’s revenue growth likely too high.

— CNBC’s Jesse Pound, Pippa Stevens and Tanaya Macheel contributed reporting

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