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NASDAQ Stocks In The News.(B)
Byline: Christina Wise
Cheesecake Factory cleared a 35-week base on July 23, notching a new high. The stock has since pulled back, forming a high handle. It's now 8% off its high.
The California-based firm runs 43 restaurants that feature more than 50 varieties of cheesecake. It also operates the Grand Lux Cafe at the Venetian Resort hotel and casino in Las Vegas.
Last month the Cheesecake Factory topped estimates with second-quarter profit of 21 cents a share. That's 31% higher than last year and marked the sixth straight quarter that profit growth topped 20%.
At $132.2 million, second-quarter sales growth was 26% higher than last year.
The stock's Retail-Restaurants industry group over the last nine weeks has moved to No. 29 from No. 71 in the ranking of IBD's 197 ...
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