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Actionable news in CMG: CHIPOTLE MEXICAN GRILL Inc,

Chipotle, Dave & Buster's, Casey's General Stores On The Move

U.S. stocks closed higher on Tuesday, as U.S. services sector data led investors to believe the Federal Reserve won’t raise interest rates any time soon.

Shares of Chipotle Mexican Grill, Inc. CMG 1.39% surged more than 5 percent after the bell rang. Bill Ackman’s Pershing Square disclosed a 9.9 percent stake in the restaurant operator. It should be noted that the 2,882,463 shares position has an activist nature, as suggested by the 13D SEC filing. Pershing Square believes Chipotle offers a “strong brand, differentiated offering, enormous growth opportunity, and visionary leadership,” at an attractive, discount valuation.

Dave & Buster's Entertainment, Inc. PLAY 0.71% tumbled 6.6 percent after the company’s full year guidance failed to impress investors, even as Q2 results beat expectations. EPS of $0.50 and revenue of $244.3 million beat estimates by $0.06 and $1.16 million, respectively. However, comps for the second quarter rose only 1 percent, versus the 11 percent spike seen a year ago. For the full year, management expects revenue of $983 million to $995 million versus the $989.72 million consensus.

Casey's General Stores Inc CASY 0.02% was down more than 9.3 percent after the bell rang. Q1 EPS of $1.70 missed the Street’s consensus by $0.11, while revenue of $1.97 billion (down 3.9 percent year-over-year) fell $20 million short of expectations.

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