Cracker Barrel (CBRL): Buy, Sell, or Hold Post Q3 Earnings?

1251 ET - Stablecoin adoption is likely to be a slower process as financial technology firms face obstacles from regulatory uncertainty, weak consumer incentives, and unclear refund and fraud protections, Oppenheimer analysts write. "These frictions are likely to slow adoption in the near term from card-based payments to stablecoins, in our view," they write. "We do not view stablecoins as a near-term threat to traditional payment networks." Companies that provide services for consumers seeking to convert between digital and fiat currency, including Visa and Mastercard, could benefit from this slower adoption phase, they write. (elias.schisgall@wsj.com)

1228 ET - Cracker Barrel is seeking to manage a sales slide since its controversial logo change last year, and says it's made changes to its existing credit agreement to give it more wiggle room. The casual-dining chain said in a filing that it will use a credit revolver to pay down debt maturing in June. Guest metrics for food, service and value have also improved during its current quarter. Cracker Barrel's shares rise 6.3%. (heather.haddon@wsj.com; @heatherhaddon)

1217 ET - Sen. Lisa Murkowski (R.,AK) says if the Justice Department believes an investigation into Fed Chair Powell is warranted based on project cost overruns, which she says are not unusual, then Congress needs to investigate the DoJ, she wrote in an X post. "The stakes are too high to look the other way: if the Federal Reserve loses its independence, the stability of our markets and the broader economy will suffer," she says. Murkowski says Sen. Thom Tillis (R., N.C.) is right after posting on X that he would block any Fed nominees until the investigation was resolved. (jessica.coacci@wsj.com; jessica_coacci)

1200 ET - Raymond James analysts say they do not anticipate a prolonged market impact from the subpoenas the Justice Department served regarding Chair Powell's testimony last June related to the renovation of the Federal Reserve building. The confirmation of the new Fed chair may be closer to the May 20 expiration date of Powell's term and Trump may have to wait for another opening for Fed governor, should Powell choose to stay on after his chairmanship ends, the note says. "This could limit some flexibility of the incoming chair for aggressive rate cuts," they say. (jessica.coacci@wsj.com; @jessica_coacci)

1140 ET - The U.K. economy should rebound modestly in November after a disappointing start to the final quarter of last year, Deutsche Bank's Sanjay Raja says in a note. The bank expects a 0.1% increase in gross domestic product, after a 0.1% decline in October. Activity trackers improved in November, as uncertainty over the government's budget diminished, he says. Looking ahead, GDP should then rebound strongly in the first quarter of 2026. "Survey data are already improving as the dust on the budget settles. And there are tentative signs that the labor market may be stabilizing," Raja notes. Households are set to spend a little more to start the year, and investment to remain on an upward trajectory, he adds. (edward.frankl@wsj.com)

1136 ET - After the Justice Department served the Federal Reserve with grand jury subpoenas related to Jerome Powell's testimony last June related to the renovation of the Federal Reserve building, investment bank Raymond James says they expect Kevin Hassett to be nominated for Fed chair in the coming days. The director of the National Economic Council is considered a front-runner given his perceived loyalty to President Trump, the investment bank says. "We have been expecting a push to get the Fed chair nominee confirmed potentially before the May 20 expiration of Powell's term," the note says. (jessica.coacci@wsj.com; jessica_coacci)

1119 ET - The yen depreciates against the dollar amid increased political concerns following reports of a possible snap election in Japan's lower house of parliament in the coming weeks, MUFG's Lee Hardman says in a note. Markets fear that a potential election could strengthen Prime Minister Takaichi's control over parliament and lead to loose fiscal rules, Hardman says. "If a snap election is held and strengthens Takaichi's grip on power in Japan, it will encourage further yen selling," he says. The yen trades flat at 157.96 yen per dollar after weakening to a near one-year low of 158.19 yen earlier, LSEG data show. (miriam.mukuru@wsj.com)

1108 ET - The dollar weakens, reversing gains it made last week, after the U.S. Department of Justice's investigation of Federal Reserve Chair Jerome Powell raised concerns about the central bank's independence, MUFG's Lee Hardman says in a note. Repeated attacks on the Fed's independence in order to satisfy President Trump's desire for lower rates "continues to pose downside risks for the U.S. dollar," Hardman says. MUFG expects the dollar to weaken further. The DXY dollar index falls 0.3% to last trade at 98.777, having hit a one-month high of 99.264 on Friday. (miriam.mukuru@wsj.com)

1100 ET - The importance of cryptocurrencies to complement traditional financial systems is underscored by rising concerns about central bank independence, 21shares' Eliezer Ndinga writes. "Unlike conventional currencies that function as liabilities of a central bank, BTC is a non-sovereign asset independent of centralized oversight and intermediaries," he says. Ndinga adds that the digital currency is "free from political interference." Bitcoin's policy, he says, "remains predictable, transparent, and resistant to arbitrary change." Legal action against Fed Chair Powell was met with defiance last night, rekindling concerns about independence. Bitcoin has given up some of its overnight gains, but it's still up 1%, at $91,422. (paulo.trevisani@wsj.com; @ptrevisani)

1059 ET - Inflation in the U.K. could finally fall to 2% in April after spending much of the last five years above the Bank of England's target, Capital Economics' Ruth Gregory says in a note. There will likely be big falls in government-set price inflation, including from measures announced in the budget last year, combined with the fall in wholesale energy prices, she says. The earlier timing of Easter this year also implies package holiday and airfare prices won't rise as far this year. All this suggests that more interest rate cuts are needed, Gregory says. Capital Economics expects the BOE's key rate to fall to 3.0% from 3.75% now, lower than markets expect. Annual U.K. inflation was 3.2% in November. (edward.frankl@wsj.com)

1019 ET - The euro is expected to appreciate versus sterling as the European Central Bank's and the Bank of England's interest-rate paths diverge, Nomura's Dominic Bunning says in a note. The BOE is expected to cut rates further as U.K. inflation decelerates, while the ECB could keep interest rates on hold. "There are even risks that the BOE could cut faster or further than the market currently expects," Bunning says. Markets price in one 25 basis-point BOE rate cut in the first half of 2026 and a possible second rate cut in the second half, LSEG data show. Nomura targets the euro to strengthen to 0.8950 pounds. The euro last trades down 0.1% at 0.8667 pounds. (miriam.mukuru@wsj.com)

0952 ET - Sen. Thom Tillis (R., N.C.) says he would oppose the confirmation of any nominee for the Fed, including the upcoming Fed Chair vacancy, until the investigation into Jerome Powell is resolved. Tillis' comments in an X post on Sunday come in light of the DOJ's investigation of Fed chair's testimony about renovations of the Fed's headquarters in DC. "If there were any remaining doubt whether advisers within the Trump Administration are actively pushing to end the independence of the Federal Reserve, there should now be none," he wrote. (jessica.coacci@wsj.com; @jessica_coacci)

1228 ET - Cracker Barrel is seeking to manage a sales slide since its controversial logo change last year, and says it's made changes to its existing credit agreement to give it more wiggle room. The casual-dining chain said in a filing that it will use a credit revolver to pay down debt maturing in June. Guest metrics for food, service and value have also improved during its current quarter. Cracker Barrel's shares rise 6.3%. (heather.haddon@wsj.com; @heatherhaddon)

1217 ET - Sen. Lisa Murkowski (R.,AK) says if the Justice Department believes an investigation into Fed Chair Powell is warranted based on project cost overruns, which she says are not unusual, then Congress needs to investigate the DoJ, she wrote in an X post. "The stakes are too high to look the other way: if the Federal Reserve loses its independence, the stability of our markets and the broader economy will suffer," she says. Murkowski says Sen. Thom Tillis (R., N.C.) is right after posting on X that he would block any Fed nominees until the investigation was resolved. (jessica.coacci@wsj.com; jessica_coacci)

1200 ET - Raymond James analysts say they do not anticipate a prolonged market impact from the subpoenas the Justice Department served regarding Chair Powell's testimony last June related to the renovation of the Federal Reserve building. The confirmation of the new Fed chair may be closer to the May 20 expiration date of Powell's term and Trump may have to wait for another opening for Fed governor, should Powell choose to stay on after his chairmanship ends, the note says. "This could limit some flexibility of the incoming chair for aggressive rate cuts," they say. (jessica.coacci@wsj.com; @jessica_coacci)

1140 ET - The U.K. economy should rebound modestly in November after a disappointing start to the final quarter of last year, Deutsche Bank's Sanjay Raja says in a note. The bank expects a 0.1% increase in gross domestic product, after a 0.1% decline in October. Activity trackers improved in November, as uncertainty over the government's budget diminished, he says. Looking ahead, GDP should then rebound strongly in the first quarter of 2026. "Survey data are already improving as the dust on the budget settles. And there are tentative signs that the labor market may be stabilizing," Raja notes. Households are set to spend a little more to start the year, and investment to remain on an upward trajectory, he adds. (edward.frankl@wsj.com)

1136 ET - After the Justice Department served the Federal Reserve with grand jury subpoenas related to Jerome Powell's testimony last June related to the renovation of the Federal Reserve building, investment bank Raymond James says they expect Kevin Hassett to be nominated for Fed chair in the coming days. The director of the National Economic Council is considered a front-runner given his perceived loyalty to President Trump, the investment bank says. "We have been expecting a push to get the Fed chair nominee confirmed potentially before the May 20 expiration of Powell's term," the note says. (jessica.coacci@wsj.com; jessica_coacci)

1119 ET - The yen depreciates against the dollar amid increased political concerns following reports of a possible snap election in Japan's lower house of parliament in the coming weeks, MUFG's Lee Hardman says in a note. Markets fear that a potential election could strengthen Prime Minister Takaichi's control over parliament and lead to loose fiscal rules, Hardman says. "If a snap election is held and strengthens Takaichi's grip on power in Japan, it will encourage further yen selling," he says. The yen trades flat at 157.96 yen per dollar after weakening to a near one-year low of 158.19 yen earlier, LSEG data show. (miriam.mukuru@wsj.com)

1108 ET - The dollar weakens, reversing gains it made last week, after the U.S. Department of Justice's investigation of Federal Reserve Chair Jerome Powell raised concerns about the central bank's independence, MUFG's Lee Hardman says in a note. Repeated attacks on the Fed's independence in order to satisfy President Trump's desire for lower rates "continues to pose downside risks for the U.S. dollar," Hardman says. MUFG expects the dollar to weaken further. The DXY dollar index falls 0.3% to last trade at 98.777, having hit a one-month high of 99.264 on Friday. (miriam.mukuru@wsj.com)

1100 ET - The importance of cryptocurrencies to complement traditional financial systems is underscored by rising concerns about central bank independence, 21shares' Eliezer Ndinga writes. "Unlike conventional currencies that function as liabilities of a central bank, BTC is a non-sovereign asset independent of centralized oversight and intermediaries," he says. Ndinga adds that the digital currency is "free from political interference." Bitcoin's policy, he says, "remains predictable, transparent, and resistant to arbitrary change." Legal action against Fed Chair Powell was met with defiance last night, rekindling concerns about independence. Bitcoin has given up some of its overnight gains, but it's still up 1%, at $91,422. (paulo.trevisani@wsj.com; @ptrevisani)

1059 ET - Inflation in the U.K. could finally fall to 2% in April after spending much of the last five years above the Bank of England's target, Capital Economics' Ruth Gregory says in a note. There will likely be big falls in government-set price inflation, including from measures announced in the budget last year, combined with the fall in wholesale energy prices, she says. The earlier timing of Easter this year also implies package holiday and airfare prices won't rise as far this year. All this suggests that more interest rate cuts are needed, Gregory says. Capital Economics expects the BOE's key rate to fall to 3.0% from 3.75% now, lower than markets expect. Annual U.K. inflation was 3.2% in November. (edward.frankl@wsj.com)

1019 ET - The euro is expected to appreciate versus sterling as the European Central Bank's and the Bank of England's interest-rate paths diverge, Nomura's Dominic Bunning says in a note. The BOE is expected to cut rates further as U.K. inflation decelerates, while the ECB could keep interest rates on hold. "There are even risks that the BOE could cut faster or further than the market currently expects," Bunning says. Markets price in one 25 basis-point BOE rate cut in the first half of 2026 and a possible second rate cut in the second half, LSEG data show. Nomura targets the euro to strengthen to 0.8950 pounds. The euro last trades down 0.1% at 0.8667 pounds. (miriam.mukuru@wsj.com)

0952 ET - Sen. Thom Tillis (R., N.C.) says he would oppose the confirmation of any nominee for the Fed, including the upcoming Fed Chair vacancy, until the investigation into Jerome Powell is resolved. Tillis' comments in an X post on Sunday come in light of the DOJ's investigation of Fed chair's testimony about renovations of the Fed's headquarters in DC. "If there were any remaining doubt whether advisers within the Trump Administration are actively pushing to end the independence of the Federal Reserve, there should now be none," he wrote. (jessica.coacci@wsj.com; @jessica_coacci)

0949 ET - A decisive victory by Japanese Prime Minister Sanae Takaichi at snap elections could accelerate the "Takaichi trade," pointing to a weaker yen, rising Japanese stocks and a steepening of the Japanese government-bond yield curve, Nomura strategists say in a note. The likelihood of a snap election is rising, with potential dates on Feb. 8 or Feb. 15. "We cannot rule out the risk of Takaichi reducing her concerns over yen weakness, as this would likely give the prime minister a better ability to defend her the rationale for her economic policies, using the election result," the analysts say. (emese.bartha@wsj.com)

Cracker Barrel Old Country Store Inc. (CBRL) filed a Form 8K - Regulation FD Disclosure - with the U.S Securities and Exchange Commission on January 12, 2026.

On January 12-14, 2026, members of management of Cracker Barrel Old Country Store, Inc. (the "Company") will be meeting with members of the investment community in conjunction with the 2026 ICR Conference, an annual industry event. A copy of the presentation deck (the "Presentation") to be referred to by management at such meetings, which includes matters of potential interest to investors, is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information furnished under Item 7.01 in this Current Report on Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section and shall not be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as set forth by specific reference in such filing.

Cautionary Note Regarding Forward-Looking Statements

All statements made in the Presentation and incorporated by reference herein other than statements of historical fact are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act, and are provided under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. You should not place undue reliance on forward-looking statements, all of which involve known and unknown risks and uncertainties and other important factors that could cause the Company's actual results, performance or achievements, or those of the industries and markets in which the Company participates, to differ materially from the Company's expectations of future results, performance or achievements expressed or implied by these forward-looking statements. The Company's past results of operations do not necessarily indicate its future results, and the Company's future results may differ materially from the Company's past results and from the expectations and plans of the Company expressed in the Presentation due to various risks and uncertainties, including the risk factors discussed in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year 2025 filed on September 26, 2025, and other risk factors detailed from time to time in the Company's filings with the Securities and Exchange Commission. The Presentation and the forward-looking statements contained therein speak only as of the date thereof. Except as otherwise required by applicable laws, the Company undertakes no obligation to publicly update or revise any forward-looking or other statements included in the Presentation, whether as a result of new information, future events, changed circumstances or any other reason.

The full text of this SEC filing can be retrieved at: https://www.sec.gov/Archives/edgar/data/1067294/000110465926002590/tm262777d1_8k.htm

Any exhibits and associated documents for this SEC filing can be retrieved at: https://www.sec.gov/Archives/edgar/data/1067294/000110465926002590/0001104659-26-002590-index.htm

Public companies must file a Form 8-K, or current report, with the SEC generally within four days of any event that could materially affect a company's financial position or the value of its shares.