Cheesecake Factory (CAKE) Pops After Big Sector Deal

May 1, 2012 8:50 AM EDT
Shares of The Cheesecake Factory (Nasdaq: CAKE) are seeing a strong bid early Tuesday after rival P.F. Chang's China Bistro (Nasdaq: PFCB) was taken private at a 30 percent premium.

Shares of CAKE last traded at $33.43, up 6%.

In addition to CAKE, other casual diners are also seeing action on the deal.

Others to Watch:
Ruby Tuesday, Inc. (NYSE: RT) +2%
Kona Grill Inc. (Nasdaq: KONA) +11%
Red Robin Gourmet Burgers Inc. (Nasdaq: RRGB) +3%
BJ's Restaurants, Inc. (Nasdaq: BJRI) +1%

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