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Cracker Barrel Old Country Store and Qualcomm have been highlighted as Zacks Bull and Bear of the Day
Read MoreHide Full Article
For Immediate Release
Chicago, IL – September 21, 2026 – Zacks Equity Research shares Cracker Barrel Old Country Store (CBRL - Free Report) as the Bull of the Day and Qualcomm (QCOM - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Goldman Sachs (GS - Free Report) , Interactive Brokers Group (IBKR - Free Report) and Talos Energy (TALO - Free Report) .
Sometimes the best stocks aren't the ones with the prettiest numbers. They're the ones where the numbers are getting less ugly faster than Wall Street expected. In a market where tech stocks are breaking records with their earnings reports and still going down, sometimes the best move is a stock in an old boring industry that has a really low bar. That's the case with today's Bull of the Day, which has been forcing analysts to rethink their bearish demise and start ticking up those earnings estimates.
Today's Bull of the Day is Zacks Rank #1 (Strong Buy) Cracker Barrel Old Country Store.
Yes, that Cracker Barrel. Rocking chairs. Chicken n' dumplins. That peg game where you inevitably leave three pegs and question your intelligence. But underneath all that country-store nostalgia, something interesting has been happening. Recent earnings expectations have been moving in the right direction.
Cracker Barrel enters its fiscal fourth-quarter report onn Wednesday, September 23 with the Zacks Consensus calling for earnings of roughly $0.20 per share on revenue of about $831 million. Neither number jumps off the page. Revenue is expected to decline about 4% year over year and restaurant comparable-store sales are projected to fall roughly 3.4%.
Wall Street already knows the business has problems. What matters now is whether those problems are getting better or worse. And lately, the earnings estimates have been getting better.
Current year Zacks Consensus Estimate is up from a loss of 97 cents to a profit of 7 cents over the last 90 days. Next year's number is up from 67 cents to $1.28. The reason being, four analysts have upped the ante for both the current year and next year. That is exactly the kind of earnings momentum I want to see.
Last quarter gave investors a taste of what could happen if management starts getting some traction. Fiscal Q3 revenue came in at $797.4 million, with restaurant comps down 2.6%. Adjusted EBITDA was $40.3 million. More importantly, management raised its full-year revenue outlook to $3.27 to $3.30 billion and dramatically increased adjusted EBITDA guidance to $120 to $125 million from $85 to $100 million previously. That is exactly what sparked the latest round of positive estimates from analysts and real reason why this stock swung to a Zacks Rank #1 (Strong Buy).
There's an old saying in business, "You don't want to stand in front of a freight train." But there's another rule that matters just as much. You don't want to stand underneath falling earnings estimates. That's where today's Bear of the Day sits. Estimates creeping down lower even as record earnings numbers continue to pile in for the rest of the S&P 500. When those estimates creep down, unfortunately, price has a tendency to follow.
Today's Bear of the Day is Zacks Rank #5 (Strong Sell) Qualcomm. Qualcomm remains one of the biggest names in wireless semiconductors, and there are absolutely pieces of the business working. Automotive is growing. IoT is growing. Edge AI provides another potential long-term opportunity. The problem is that the engine that has historically paid the bills, handsets, is sputtering.
Fiscal third-quarter revenue came in at $9.95 billion, down 4% year over year. Non-GAAP earnings were $2.21 per share, down a much uglier 20%. The headline underneath the headline was handset revenue, which dropped 20% to $5.09 billion. Revenue down 4%. Earnings down 20%.
You don't need a PhD in semiconductor engineering to figure out what that says about the margin picture. Higher input costs have been squeezing profitability, while Qualcomm's QCT business has been dealing with a weaker mix and softer handset demand. Management guided fiscal Q4 adjusted EPS to just $2.05-$2.25, with QCT EBT margins expected at 23%-25%.
Then there's the elephant in the room. Apple. Apple's transition toward its own modem technology is happening faster than Qualcomm previously expected. Qualcomm said its modem share in the upcoming iPhone generation would be materially below its previous 20% assumption. That's premium business walking out the door, and Qualcomm now has to replace it somewhere else.
Analysts don't see it yet. Over the last sixty days, 11 analysts cut their estimates for the current year while 13 have done so for next year. The bearish moves have dropped our Zacks Consensus Estimate for the current year from $10.79 to $10.55 while next year's number is off from $10.88 to $10.02.
The Federal Reserve has shifted back toward tighter monetary policy as persistent inflation limits room to lower interest rates. On Sept. 16, the Fed raised the federal funds target range by 25 basis points to 3.75%-4%, its first rate hike since 2023. The decision came as policymakers assessed inflation as elevated even as economic activity continued to expand and domestic spending remained resilient.
September economic projections also point to a higher-for-longer rate environment. Policymakers raised their median 2026 federal funds rate forecast to 4.1% from 3.8% in June, while lifting their 2026 PCE inflation projection to 3.7% from 3.6%. This backdrop could keep interest rates elevated and increase the importance of balance-sheet strength, funding costs and interest income for rate-sensitive financial companies.
Against this backdrop, it's time for investors to focus on companies that can potentially benefit from elevated rates, sustained financial-market activity and persistent energy-price pressure. Here are three stocks to consider — Goldman Sachs, Interactive Brokers Group and Talos Energy.
Persistent Inflation Keeps Pressure on Rates
Recent economic data help explain the Fed's stance. August CPI increased 3.4% year over year and 0.4% month over month, while core CPI rose 2.4% year over year. The monthly increase was the largest since May, with gasoline accounting for more than one-third of the overall rise.
The labor market also showed renewed strength in August. Nonfarm payrolls increased 162,000, well above the prior 12-month average monthly gain of 31,000, while the unemployment rate held at 4.1%. Average hourly earnings increased 3.1% year over year.
Consumer spending provided another source of support for economic activity. Retail and food-services sales rose 1.2% month over month and 6% year over year in August, according to the Census Bureau.
Together, elevated inflation, payroll growth and firm consumer spending provide a backdrop in which interest rates could remain an important earnings driver for financial companies. This favors businesses positioned to generate interest income and maintain strong profitability as borrowing costs remain elevated.
Our Picks
Goldman Sachs: It is well positioned for a higher-rate environment through its diversified Global Banking & Markets and Asset & Wealth Management businesses. Goldman Sachs reported record second-quarter 2026 net revenues of $20.34 billion and net earnings of $6.63 billion. Annualized return on equity was 23.5%. Its Global Banking & Markets franchise also posted record quarterly net revenues, reflecting strength across its businesses. The combination of strong capital-markets activity and diversified revenue streams supports the investment case as rates remain elevated.
Based on short-term price targets offered by 21 analysts, the average price target for Goldman Sachs represents an increase of 23.19% from the last closing price of $951.47. The stock currently holds a Zacks Rank #2 (Buy), with two upward full-year earnings estimate revisions and none lower over the past two months.
Interactive Brokers: It is positioned to benefit from the combination of elevated interest rates and sustained market activity. Its business generates substantial net interest income from customer balances and margin loans, making interest rates an important earnings driver. In the second quarter of 2026, net interest income increased 23% year over year, while commission revenues rose 30%. Client equity increased 40% year over year, while daily average revenue trades climbed 36%.
More recently, August brokerage metrics showed 27.57 million orders and $614.49 trillion in total traded value. The combination of higher interest income and strong client trading activity gives IBKR relevant exposure to the current higher-rate environment.
Based on short-term price targets offered by 10 analysts, the average price target for Interactive Brokers represents an increase of 23.33% from the last closing price of $88.38. The stock currently holds a Zacks Rank #1 (Strong Buy), with three upward full-year earnings estimate revisions and none lower over the past two months.
Talos Energy: It provides a non-financial way to participate in the broader inflation and energy-price backdrop. This oil and gas producer generated $300.6 million in operating cash flow and $231.6 million in adjusted free cash flow in the second quarter of 2026. It ended the quarter with $577.6 million of cash and net debt equal to just 0.5 times trailing-12-month adjusted EBITDA. Talos also raised its 2026 production guidance midpoint to 89 thousand barrels of oil equivalent per day.
Based on short-term price targets offered by 10 analysts, the average price target for Talos Energy represents an increase of 16.62% from the last closing price of $17.15. The stock currently sports a Zacks Rank #1, with two upward full-year earnings estimate revisions and none lower over the past two months. You can see the complete list of today's Zacks #1 Rank stocks here
Free: Instant Access to Zacks' Market-Crushing Strategies
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can tap into those powerful strategies – and the high-potential stocks they uncover – free. No strings attached.
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
View the Zacks #1 Rank List
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Cracker Barrel Old Country Store and Qualcomm have been highlighted as Zacks Bull and Bear of the Day
For Immediate Release
Chicago, IL – September 21, 2026 – Zacks Equity Research shares Cracker Barrel Old Country Store (CBRL - Free Report) as the Bull of the Day and Qualcomm (QCOM - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Goldman Sachs (GS - Free Report) , Interactive Brokers Group (IBKR - Free Report) and Talos Energy (TALO - Free Report) .
Here is a synopsis of all five stocks:
Bull of the Day:
Sometimes the best stocks aren't the ones with the prettiest numbers. They're the ones where the numbers are getting less ugly faster than Wall Street expected. In a market where tech stocks are breaking records with their earnings reports and still going down, sometimes the best move is a stock in an old boring industry that has a really low bar. That's the case with today's Bull of the Day, which has been forcing analysts to rethink their bearish demise and start ticking up those earnings estimates.
Today's Bull of the Day is Zacks Rank #1 (Strong Buy) Cracker Barrel Old Country Store.
Yes, that Cracker Barrel. Rocking chairs. Chicken n' dumplins. That peg game where you inevitably leave three pegs and question your intelligence. But underneath all that country-store nostalgia, something interesting has been happening. Recent earnings expectations have been moving in the right direction.
Cracker Barrel enters its fiscal fourth-quarter report onn Wednesday, September 23 with the Zacks Consensus calling for earnings of roughly $0.20 per share on revenue of about $831 million. Neither number jumps off the page. Revenue is expected to decline about 4% year over year and restaurant comparable-store sales are projected to fall roughly 3.4%.
Wall Street already knows the business has problems. What matters now is whether those problems are getting better or worse. And lately, the earnings estimates have been getting better.
Current year Zacks Consensus Estimate is up from a loss of 97 cents to a profit of 7 cents over the last 90 days. Next year's number is up from 67 cents to $1.28. The reason being, four analysts have upped the ante for both the current year and next year. That is exactly the kind of earnings momentum I want to see.
Last quarter gave investors a taste of what could happen if management starts getting some traction. Fiscal Q3 revenue came in at $797.4 million, with restaurant comps down 2.6%. Adjusted EBITDA was $40.3 million. More importantly, management raised its full-year revenue outlook to $3.27 to $3.30 billion and dramatically increased adjusted EBITDA guidance to $120 to $125 million from $85 to $100 million previously. That is exactly what sparked the latest round of positive estimates from analysts and real reason why this stock swung to a Zacks Rank #1 (Strong Buy).
Bear of the Day:
There's an old saying in business, "You don't want to stand in front of a freight train." But there's another rule that matters just as much. You don't want to stand underneath falling earnings estimates. That's where today's Bear of the Day sits. Estimates creeping down lower even as record earnings numbers continue to pile in for the rest of the S&P 500. When those estimates creep down, unfortunately, price has a tendency to follow.
Today's Bear of the Day is Zacks Rank #5 (Strong Sell) Qualcomm. Qualcomm remains one of the biggest names in wireless semiconductors, and there are absolutely pieces of the business working. Automotive is growing. IoT is growing. Edge AI provides another potential long-term opportunity. The problem is that the engine that has historically paid the bills, handsets, is sputtering.
Fiscal third-quarter revenue came in at $9.95 billion, down 4% year over year. Non-GAAP earnings were $2.21 per share, down a much uglier 20%. The headline underneath the headline was handset revenue, which dropped 20% to $5.09 billion. Revenue down 4%. Earnings down 20%.
You don't need a PhD in semiconductor engineering to figure out what that says about the margin picture. Higher input costs have been squeezing profitability, while Qualcomm's QCT business has been dealing with a weaker mix and softer handset demand. Management guided fiscal Q4 adjusted EPS to just $2.05-$2.25, with QCT EBT margins expected at 23%-25%.
Then there's the elephant in the room. Apple. Apple's transition toward its own modem technology is happening faster than Qualcomm previously expected. Qualcomm said its modem share in the upcoming iPhone generation would be materially below its previous 20% assumption. That's premium business walking out the door, and Qualcomm now has to replace it somewhere else.
Analysts don't see it yet. Over the last sixty days, 11 analysts cut their estimates for the current year while 13 have done so for next year. The bearish moves have dropped our Zacks Consensus Estimate for the current year from $10.79 to $10.55 while next year's number is off from $10.88 to $10.02.
Additional content:
Fed Turns Hawkish Again: 3 Stocks to Buy Amid Higher Rates
The Federal Reserve has shifted back toward tighter monetary policy as persistent inflation limits room to lower interest rates. On Sept. 16, the Fed raised the federal funds target range by 25 basis points to 3.75%-4%, its first rate hike since 2023. The decision came as policymakers assessed inflation as elevated even as economic activity continued to expand and domestic spending remained resilient.
September economic projections also point to a higher-for-longer rate environment. Policymakers raised their median 2026 federal funds rate forecast to 4.1% from 3.8% in June, while lifting their 2026 PCE inflation projection to 3.7% from 3.6%. This backdrop could keep interest rates elevated and increase the importance of balance-sheet strength, funding costs and interest income for rate-sensitive financial companies.
Against this backdrop, it's time for investors to focus on companies that can potentially benefit from elevated rates, sustained financial-market activity and persistent energy-price pressure. Here are three stocks to consider — Goldman Sachs, Interactive Brokers Group and Talos Energy.
Persistent Inflation Keeps Pressure on Rates
Recent economic data help explain the Fed's stance. August CPI increased 3.4% year over year and 0.4% month over month, while core CPI rose 2.4% year over year. The monthly increase was the largest since May, with gasoline accounting for more than one-third of the overall rise.
The labor market also showed renewed strength in August. Nonfarm payrolls increased 162,000, well above the prior 12-month average monthly gain of 31,000, while the unemployment rate held at 4.1%. Average hourly earnings increased 3.1% year over year.
Consumer spending provided another source of support for economic activity. Retail and food-services sales rose 1.2% month over month and 6% year over year in August, according to the Census Bureau.
Together, elevated inflation, payroll growth and firm consumer spending provide a backdrop in which interest rates could remain an important earnings driver for financial companies. This favors businesses positioned to generate interest income and maintain strong profitability as borrowing costs remain elevated.
Our Picks
Goldman Sachs: It is well positioned for a higher-rate environment through its diversified Global Banking & Markets and Asset & Wealth Management businesses. Goldman Sachs reported record second-quarter 2026 net revenues of $20.34 billion and net earnings of $6.63 billion. Annualized return on equity was 23.5%. Its Global Banking & Markets franchise also posted record quarterly net revenues, reflecting strength across its businesses. The combination of strong capital-markets activity and diversified revenue streams supports the investment case as rates remain elevated.
Based on short-term price targets offered by 21 analysts, the average price target for Goldman Sachs represents an increase of 23.19% from the last closing price of $951.47. The stock currently holds a Zacks Rank #2 (Buy), with two upward full-year earnings estimate revisions and none lower over the past two months.
Interactive Brokers: It is positioned to benefit from the combination of elevated interest rates and sustained market activity. Its business generates substantial net interest income from customer balances and margin loans, making interest rates an important earnings driver. In the second quarter of 2026, net interest income increased 23% year over year, while commission revenues rose 30%. Client equity increased 40% year over year, while daily average revenue trades climbed 36%.
More recently, August brokerage metrics showed 27.57 million orders and $614.49 trillion in total traded value. The combination of higher interest income and strong client trading activity gives IBKR relevant exposure to the current higher-rate environment.
Based on short-term price targets offered by 10 analysts, the average price target for Interactive Brokers represents an increase of 23.33% from the last closing price of $88.38. The stock currently holds a Zacks Rank #1 (Strong Buy), with three upward full-year earnings estimate revisions and none lower over the past two months.
Talos Energy: It provides a non-financial way to participate in the broader inflation and energy-price backdrop. This oil and gas producer generated $300.6 million in operating cash flow and $231.6 million in adjusted free cash flow in the second quarter of 2026. It ended the quarter with $577.6 million of cash and net debt equal to just 0.5 times trailing-12-month adjusted EBITDA. Talos also raised its 2026 production guidance midpoint to 89 thousand barrels of oil equivalent per day.
Based on short-term price targets offered by 10 analysts, the average price target for Talos Energy represents an increase of 16.62% from the last closing price of $17.15. The stock currently sports a Zacks Rank #1, with two upward full-year earnings estimate revisions and none lower over the past two months. You can see the complete list of today's Zacks #1 Rank stocks here
Free: Instant Access to Zacks' Market-Crushing Strategies
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can tap into those powerful strategies – and the high-potential stocks they uncover – free. No strings attached.
Get all the details here >>
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.