Buffalo Wild Wings Plucked After Q1 Report

Buffalo Wild Wings BWLD shares are trading lower by $17.30 at $127.32 in Wednesday's session. The catalyst for the sharp decline is a Q1 EPS miss of $0.06 with revenues that came up light by $24 million. Strangely, the company still was able to raise its FY 2016 outlook.

After a lower open, it continued lower before finding support at $122.25 and staged a rebound. That low is only a dime from its October 2014 low ($122.15). The ensuing rally has taken the issue to $128.99, which is well shy of the lower end of Tuesday's range ($142.30).