Cheesecake Factory Gets Creamed After Missing Q3 Sales Estimates

Cheesecake Factory

shares are trading lower by $3 at $48.99. Although the company beat for Q3 EPS by $0.04, the Street is focusing on it sales miss ($526.7M vs. Est. $534.7). After a lower open, it rallied to $49.94, before continuing to move lower. So far, it has far exceeded its Flash Crash low ($50.02), reaching $48.30 and is now attempting to reclaim the $49 handle. The current low coincides with a series of four lows between $48.11-$48.30 from April 14-17.