Two of the cleanest earnings beats of the quarter came from a pair of under-the-radar sources: Garmin Ltd. (NYSE: GRMN) and The Cheesecake Factory Inc. (NASDAQ: CAKE). Both companies beat estimates, raised guidance, and saw a significant stock price pop following their releases.
But even the cleanest beats often come with caveats, and these two companies gave hints in their conference calls that the party might be entering its “turn the music down” stage. Analysts and investors are now chasing the tape, and some portfolio trimming might be in order following these massive gains.
