Cracker Barrel Cuts Dividend Amid Tech, Healthcare Stocks Rally

Cracker Barrel slashes dividend amid guidance cut, while Reddit's AI partnership and Chinese tech stocks rally.

By Max Weldon

5/16, 19:28 EDT
Darden Restaurants, Inc.
iShares China Large-Cap ETF
KraneShares Trust KraneShares CSI China Internet ETF
Moderna, Inc.
Pinduoduo Inc.
Insulet Corporation
Tencent Music Entertainment Group

Cracker Barrel's Dividend Cut, Reddit's AI Partnership, Chinese Tech Stocks Surge, and Health-Care Leaders

After-hours Stock Action

Cracker Barrel (CBRL): Guidance Cut and Dividend Slashed

  • Reduced Guidance: Lowered guidance and dividend from $1.30 to 25 cents per share.
  • Stock Performance: Down 46% in twelve months, contrasting with rivals like Darden Restaurants (flat), Brinker (up 67%), and Cheesecake Factory (up 28%).

Reddit: Rising on OpenAI Partnership

  • AI Collaboration: Partnering with OpenAI for ChatGPT integration of Reddit content.
  • Stock Movement: Up over 25% in May despite a 5% pullback during regular session.

Chinese Tech Stocks: Strong Weekly Gains

  • iQIYI up by 18%, KE Holdings by 12%, PDD Holdings by 5%, Tencent Music doubled over the past year.
  • ETF Performance: KraneShares CSI China Internet ETF (KWEB) and iShares China Large-Cap ETF (FXI) both up around 15%.

Health-Care Leaders Shine

  • Moderna up by13%, trading at its highest level since last June; heading for best month since December.
  • Insulet up about12% this week, strongest weekly performance since November.

Canada Goose Soars on Earnings Beat

  • Quarterly Results Boost: Canada Goose gained15% after strong earnings beat but withdrew long-term financial targets due to challenging consumer spending environment.
  • Stock Performance: Down more than30% in a year despite today’s gains.

GoodRx Jumps on Upgrades

  • Raymond James & Wells Fargo Upgrade Ratings to Buy-Equivalent; improving margins & focused business strategy noted.
  • Analyst Sentiment Shifts Positively towards GoodRx; shares are up20% year-to-date.