$55.660
+0.596 (+1.07%)At close
CBRL News
CBRL Events
Cracker Barrel Appoints David Deno as New CEO
Cracker Barrel (CBRL) announced that, following a comprehensive succession planning and search process, David Deno has been appointed to serve as the company's next CEO and will join the Board of Directors, both effective August 10. He succeeds Julie Masino, who will step down as CEO and a member of the Board effective as of the same date. Masino will remain with the company in an advisory capacity until October 9, 2026 to support a smooth transition. Deno is an accomplished restaurant and retail industry executive with more than four decades of experience and a strong track record of driving strategic execution, revitalized financial performance and profitable growth across leading brands. Most recently, he served as CEO of Bloomin' Brands (BLMN) from 2019 to 2024.
Expects to Exceed FY26 Adjusted EBITDA View of $120M-$125M
Expects to exceed previous FY26 adjusted EBITDA view of $120M-$125M.
Cracker Barrel Completes Asset Sale Transaction, Raising Approximately $77M
Cracker Barrel announced two strategic actions. Cracker Barrel completed a sale-leaseback transaction with an institutional real estate investor for 26 company-owned Cracker Barrel store locations, generating net proceeds of approximately $77M. The company intends to deploy the proceeds towards debt reduction. The transaction is tax efficient and enables the company to utilize capital loss carryforwards that otherwise would have expired. Cracker Barrel also completed the sale of certain assets used in its Maple Street Biscuit Company business, including the MSBC trademark and the assets used in 35 MSBC locations to Biscuit Belly. Simultaneously with the completion of this sale, the company announced that the remaining 16 MSBC locations will be closed. In connection with the divestiture, the company expects to recognize non-cash charges of $37M-$39M during Q4. The company anticipates additional cash charges of $6M-$8M associated with exiting the business, some of which are expected to be incurred in 4Q26 and some in FY27. MSBC contributed less than 2% of Cracker Barrel's annual revenue, and this divestiture is expected to be accretive to adjusted EBITDA beginning in FY27.
REalloys Inc Borrow Rate Increases to 28.09%
Latest data shows the largest indicative borrow rate increases among liquid option names include: REalloys Inc (ALOY) 28.09% +3.60, ProShares UltraShort Silver (ZSL) 27.21% +1.67, GRANITESHARES 2X LONG MRVL DAILY ETF (MVLL) 12.78% +1.36, Infosys (INFY) 17.49% +1.30, Cracker Barrel (CBRL) 2.73% +0.91, GRANITESHARES 2X LONG PLTR DAILY ETF (PTIR) 3.65% +0.41, Nebius Group NV (NBIS) 1.37% +0.38, Canadian Solar (CSIQ) 2.08% +0.29, Draganfly (DPRO) 14.17% +0.28, and Ocean Power (OPTT) 1.91% +0.27.
US Stocks Drop Sharply Amid Renewed US-Iran Tensions
The major averages closed broadly lower after renewed military exchanges between the United States and Iran, which increased concerns about energy markets and global economic growth. Oil prices remain volatile as traders assess the risk of disruptions in the Middle East, particularly around the Strait of Hormuz. President Trump commented to reporters that the U.S. will be attacking Iran "very hard," building on his statement earlier on Truth Social that Iran took "too long to negotiate a deal that would have been great for them," so "now they will have to pay the price!!!"Meanwhile the CPI report showed annual inflation accelerating to 4.2% in May, which was in line with expectations but means that consumer prices rose at a faster rate for a third-straight month.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:SpaceX'sIPO has drawn over $250B of investor demand, dwarfing the $75B the company aims to raise,Chewyreportedand provided guidance for Q2 and FY26Cracker Barrelreportedand provided its outlook for FY26Super Microannounced $7B inVisais partnering with OpenAI to2. WALL STREET CALLS:Niketo Sector Perform at RBC CapitalBarclaysOscar Healthon exposure to individual ACA marketBillto Hold at TruistCava Groupto Buy at UBSSharkNinjawith an Overweight at Piper Sandler3. AROUND THE WEB:OpenAI is preparing its new model and expects its IPO to occur within the next year, The Information reportsUbisoftis shuttering two studios and cutting up to 380 staff, Kotaku reportsVolvosaid that in Q2, customer demand and deliveries in Europe are stable at good levels across the business, while in North America, demand remains strong with production gradually increasing, Reuters reportsStarbucksis considering options for its Japanese business, recently holding preliminary discussion with investment banks to determine an approach, Bloomberg saysAmazon Web Services'Chief Marketing Officer Julia White has asked staff to recruit recently laid off employees from Meta, Business Insider reports4. MOVERS:Clover Healthgained after announcing the Centers for Medicare & Medicaid ServicesHyliion Holdingsincreased after Needhamcoverage of the stock with a Buy ratingRobinhoodwas higher after, a director bought $20.2M shares, and announcing metrics for MayDianthuswas lower after Sanofihalted itsWolfspeedfell after filing to sell5. EARNINGS/GUIDANCE:J.Jilland reaffirmed guidance for FY26Hinge Healthraised itsCasey's General Stores, with CEO Darren Rebelez commenting on "another record fiscal year"Limoneira, with EPS missing consensusCore & Mainand reaffirmed its guidance for FY26INDEXES:The Dow fell 953.33, or 1.87%, to 49,918.78, the Nasdaq lost 509.32, or 1.98%, to 25,169.50, and the S&P 500 declined 119.66, or 1.62%, to 7,266.99.
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