Cheesecake Factory Longs Upside Down After Lower Guidance

Cheesecake Factory Inc CAKE shares are trading lower by $6.00 (9 percent) at $52.33 in Tuesday's session.

Before the open, the company reported Q2 2017 comparable sales will be down approximately 1 percent.

At this time, both the high and low for the day were made in the first minute of the session. The high for the day ($53.85) is over $6.00 lower than the lower-end of $57.83. The low for the day stands at $52.06 and coincides with its November 3 low of $51.71.