Closing Bell: Cracker Barrel Rallies, Abercrombie Slips, Snowflake Earnings

On this episode of Stock Movers:

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Tim Stenovec and Isabelle Lee.

- Cracker Barrel (CBRL) said it’s getting rid of a new logo that had sparked controversy and prompted a slump in its share price. “We thank our guests for sharing your voices and love for Cracker Barrel. We said we would listen, and we have,” the company said Tuesday in a statement. “Our new logo is going away and our ‘old timer’ will remain.” Wall Street applauded the move by sending shares higher.

- Abercrombie (ANF) raised its full-year sales guidance following a stronger-than-expected quarter at the teen-focused Hollister brand.Sales are now seen growing in a range of 5% to 7%, up from the apparel retailer’s previous outlook. It’s the second straight quarter the preppy apparel retailer has boosted its revenue outlook. The company also raised its profit guidance after lowering it in the previous quarter.

- Snowflake (SNOW) boosted its product revenue guidance for the full year; the guidance beat the average analyst estimate.

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