JACK - Why Jack in the Box Stock Popped on Tuesday
2024-05-14 12:18:10 ET
Shares of fast-food company Jack in the Box (NASDAQ: JACK) popped on Tuesday after the company reported financial results for its fiscal second quarter of 2024. As of 11:30 a.m. ET, Jack in the Box stock was up 5%, but it had been up about 10% earlier in the day.
The fiscal second quarter for Jack in the Box ended on April 14. And after looking at the numbers, I'm not surprised to see the stock give back some of its early gains this morning. Sales weren't great and management made adjustments to its full-year guidance -- mostly modest downward adjustments.
In Q2, Jack in the Box's revenue was down about 8% as same-store sales fell for both its Jack in the Box chain and its smaller Del Taco chain.
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Why Jack in the Box Stock Popped on Tuesday