Earnings Beat and Guidance Is Raised
Cracker Barrel Old Country Store earned $1.47 a share on revenue of $700 million. Analysts had only expected $1.30 and $685 million, respectively. Management also raised guidance based on strong comparable sales and new store openings. CBRL climbs 6 percent before the bell on my tradeMONSTER platform.
Bank of America Turns Bullish on Achillion
Achillion Pharmaceuticals got a big vote of confidence from Bank of America today, which upgraded the stock and almost doubled the price target to $13 from $7. The rating went all the way from "underperform" to "buy," based on a view its two-drug treatment for Hepatitis C will be a success. ACHN climbs 12 percent early trading.
Weak Outlook Weighs on Ascena Retail
Ascena Retail reported better-than-expected quarterly results, but the guidance left something to be hoped for. Management sees full-year profit of just $1.45 to $1.55 a share, while the Street was modeling $1.56. ASNA drops 6 percent on the news.