Cheesecake Factory (CAKE) NewsBite - CAKE Rises on Strong Earnings

Posted: Friday, April 24, 2009 9:50 AM EDT

Cheesecake Factory (NasdaqNM: CAKE) opened at $16.96. So far today, the stock has hit a low of $16.52 and a high of $17.87. CAKE is now trading at $17.44, up $2.52 (16.89%). Over the last 52 weeks the stock has ranged from a low of $4.96 to a high of $23.10. CAKE reported a first-quarter profit this morning of $10 million, or 17 cents per share, beating analysts' estimates of 10 cents per share. Technical indicators for the stock are neutral and S&P gives CAKE a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on CAKE the stock seems like it could be a candidate for a May out-of-the-money bull-put credit spread below the 12.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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