Equities

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
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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.