It's Wednesday, and restaurant stocks are in free fall. As of 12:40 p.m. EDT, shares of The Cheesecake Factory (NASDAQ: CAKE) are down 8.1%, BJ's Restaurants (NASDAQ: BJRI) has fallen 9.2%, and Bloomin' Brands (NASDAQ: BLMN) is positively wilting -- down 10.2%. Specifically, Bloomin' Brands suffered a reduction in price target this morning, with analysts at Loop Capital (reports TheFly.com) cutting the shares' estimated value to $15.

As earnings season gets fully underway, stocks are tumbling. Restaurants in particular are taking a beating as investors lose confidence in a quick recovery.

There aren't many companies that know cake better than The Cheesecake Factory (NASDAQ: CAKE).Humble Beginnings Beginning in Detroit, Michigan in the 1940s, Evelyn Overton's original cheesecake recipe was actually inspired by a recipe found in a local newspaper, and the recipe got so popular that she decided to open a small cheesecake shop.Although she had to put that dream on hold to raise her children, she continued to supply cheesecakes to local restaurants while raising her family.A New Start In a last attempt at achieving her dream to start her own restaurant, Evelyn and her husband decided to pack up and move to Los Angeles in 1972 after their children grew up. It was then The Cheesecake Factory Bakery was born. The company supplied cakes to restaurants in the Los Angeles area.A Family Business In 1978, Evelyn's son, David, decided to open a restaurant based around his mother's recipe. The restaurant is The Cheesecake Factory that exists today with locations around the world. It's safe to say the company knows its cakes, and it wants you to know.Related Links:The Story Behind The Ticker: Constellation BrandsThe Story Behind The Ticker: Vail ResortsPhoto credit: Anthony 92931/Wikimedia. See more from Benzinga * 10 Stocks Moving In Tuesday's After-Hours Session * 5 Stocks Moving In Monday's After-Hours Session * 7 Events In 2020 That You Probably Already Forgot(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

The Cheesecake Factory® (NASDAQ: CAKE) is featuring a limited-time Happy Hour Menu* online for pickup and curbside to-go orders Monday through Friday 2-4:30 p.m. today through Friday, May 15. Featuring ten signature menu items for $7.50 including full-sized portions of The Cheesecake Factory’s most popular appetizers and its special "Happy Hour" Burger – a double cheeseburger available exclusively during Happy Hour – bottles of private reserve house wine for $15 and "mix and match" six packs of beer for $12.95, the Happy Hour Menu is the perfect solution for afternoon snacks and libations to enjoy at home.

Papa John's CEO Rob Lynch says business is on a major upswing during the COVID-19 pandemic.

The U.S. services sector data and earnings from media giant Disney and plant-based protein maker Beyond Meat will be in focus on a busy Tuesday.

Q1 2020 Cheesecake Factory Inc Earnings Call

The probability that U.S. restaurants will default has soared in recent weeks as a result of the devastating COVID-19 pandemic, according to S&P Global Market Intelligence.

Cheesecake Factory's (CAKE) first-quarter fiscal 2020 revenues benefit from acquisitions of North Italia and Fox Restaurant Concepts businesses.

The Cheesecake Factory Incorporated (NASDAQ: CAKE) today reported preliminary financial results for the first quarter of fiscal 2020, which ended on March 31, 2020.

States across the U.S. are beginning to reopen parts of their economies, and a surprising number of consumers are willing to visit restaurants as soon as they reopen, according to a new survey by Piper Sandler.

Cheesecake Factory Inc (NASDAQ: CAKE) has no catalyst or recovery ahead given its overexposure to malls, according to Stephens.The Cheesecake Factory AnalystJames Rutherford resumes coverage of Cheesecake Factory's stock with an Underweight rating and $14 price target.The Cheesecake Factory ThesisAmong the 206 Cheesecake Factory locations across the U.S., 65% are located in traditional regional or super-regional malls, Rutherford wrote in the note. Unfortunately, many of these malls are likely to suffer declining foot traffic as major department stores and movie theatres face "an existential crisis."The restaurant chain's struggles didn't start with the COVID-19 pandemic as the past five years have been challenging. Most notably, the company has failed to show a single quarter of positive traffic dating back to early 2015.Cheesecake Factory ended April with $260 million of cash while many locations were operating at break-even cash flow levels from off-premise orders at around $4 million. Even if the company catches up on missed rent payments, it has enough liquidity for "well over a year" at current levels.However, Rutherford said the next few years are likely to be "much worse" than the past five years as the long-term fate of the chain is "inseparable from the regional mall."CAKE Price ActionShares of Cheesecake Factory were trading lower by 7% at $17.98.Related Links:The Story Behind The Ticker: The Cheesecake FactoryApril's Restaurant Data Far From Encouraging, But There Is HopeLatest Ratings for CAKE DateFirmActionFromTo May 2020Stephens & Co.ReinstatesUnderweight May 2020JP MorganMaintainsNeutral May 2020CFRAMaintainsHold View More Analyst Ratings for CAKE View the Latest Analyst Ratings See more from Benzinga * Mall Owner Taubman To Tenants: Pay Your Rent * 6 Fast Food Deals And 5 Home Cooking Inspirations(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

The company's first quarter 2020 results, published yesterday, show that its comparable restaurant sales fell by 12.9% year over year despite the strong start before the virus arrived. Diluted EPS came in at $0.04 per share, beating the analyst consensus estimate reported by Zack's by a full $0.50. During the ensuing earnings conference call, CEO David Overton said that the company's long experience in off-premise sales helped it switch over more successfully to a model relying exclusively on these purchases, with dine-in closed down during the epidemic.

The stock fell roughly 23.2% in March as the coronavirus prompted across-the-board sell-offs, but the restaurant company's share price posted a substantial recovery in April thanks in large part to momentum for the broader market. It published quarterly results on April 29, reporting adjusted earnings per share of $0.64 on sales of $1.26 billion. The average analyst target, as polled by Refinitiv, had Yum!

Yahoo Finance’s Heidi Chung joins Zack Guzman to discuss how the coronavirus is disrupting restaurants.

Ladies and gentlemen, thank you for standing by, and welcome to The Cheesecake Factory First Quarter Fiscal 2020 Earnings Conference Call. On the call today are David Overton, our Chairman and Chief Executive Officer; David Gordon, our President; and Matt Clark, our Executive Vice President and Chief Financial Officer.

Cheesecake Factory (CAKE) delivered earnings and revenue surprises of 108.70% and 0.21%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?

Cheesecake Factory's (CAKE) first-quarter 2020 revenues are likely to have benefited from menu innovation, expansion strategies and digital enhancement.

Franchisees of the most recognized names in accommodation are turning to the Federal Reserve for help, as concerns mount over being able to meet commercial mortgage payments.

Returning customers and employees will have to deal with new social distancing and sanitation rules, but the lighter restrictions should go a long way in relieving anxiety and stress generated by weeks of enforced quarantine and stay-at-home orders. Disclosure: The author held no positions in the aforementioned securities at the time of publication.