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Shake Shack Rallies After Q1 Beat

Shake Shack Inc SHAK 9.72% shares were trading higher by $3.17 (9 percent) at $37.43 in Friday's session. The catalyst for the rally is a Q1 beat for EPS of $0.03 with $2 million more in revenues. This follows a beat by Jack In The Box JACK 1.25%, which rallied nearly $10 off its report.

After a higher open, it immediately peaked at $37.20 before reversing course. The ensuing decline found support just ahead of Thursday's high ($34.98), only reaching $35.06 before roaring back to challenge the highs for the day.

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