Cheesecake Factory (CAKE) NewsBite - CAKE Earnings Delight Investors

Posted: Friday, October 23, 2009 9:58 AM EDT

Cheesecake Factory (NasdaqNM: CAKE) opened at $18.72. So far today, the stock has hit a low of $18.65 and a high of $19.50. CAKE is now trading at $18.97, up $0.83 (4.58%). Over the last 52 weeks the stock has ranged from a low of $4.96 to a high of $21.01. CAKE reported third-quarter earnings last night, posting an adjusted profit of 29 cents per share on revenue of $400.6 million. Analysts had forecast a profit of 24 cents per share on revenue of $396.74 million. Technical indicators for the stock are bearish and S&P gives CAKE a negative 1 STARS (out of 5) strong sell ranking. If you are looking for a hedged play on CAKE the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 15 range. [ABR-Seven Summits Strategic Investments NewsBite]

Click Symbol For More News On: (CAKE)