Jim Cramer Live 12/12/18: Breaking Down the Markets and Dave & Buster’s
Exploring the Markets
It’s a volatile market and yesterday was a rollercoaster ride for the Dow.
Jim Cramer goes in-depth on what investors need to know about the markets.
At the open, the Dow Jones Industrial Average jumped 288 points, or 1.19%, to 24,659, the S&P 500 rose 1.16%, and the Nasdaq was up 1.26%.
Dave & Buster’s
Dave & Buster’s is Real Money’s stock of the day.
TheStreet contributor M. Corey Goldman reported on the company’s earnings, which were released after the market closed on Tuesday, Dec. 11.
The company busted out to the downside in premarket trading Wednesday, Dec. 12, after reporting better-than-expected earnings and providing strong forward guidance but disclosing a drop in comparable same-store sales.
Shares in the Dallas-based restaurant and entertainment chain were down close to 15%, or $7.43, at $43.60 in premarket trading on the Nasdaq Stock Exchange. The company’s stock ended Tuesday down 2.78%, or $1.46, at $51.03.
For its fiscal third quarter, Dave & Buster’s reported net income of $11.9 million, or 30 cents a share, vs. earnings of $12.2 million, or 29 cents a share, in the comparable year-earlier quarter. Analysts surveyed by FactSet had expected earnings of 24 cents a share. Revenue rose 13% to $282.1 million from $278 million.
A stock price target cut to $50 from $70 by analysts at Raymond James also fueled the declines in the stock price.
Cramer weighs in on the company and whether or not the poor earnings mean the death of the mall.