It was a busy day for Wall Street today but the markets mostly responded favorably as it had to digest a slew of earnings news, economic data, and the FOMC announcement. The Dow 30 closed up 60 (0.34%) and the S&P 500 was also able to remain positive, adding 4 (0.21%). The Nasdaq 100 was unable to gain any ground today as it suffered a 25 point loss (-0.51%) thanks to earnings from Apple and Twitter.
Apple (NASDAQ: AAPL) was the talk of the day today as it gapped lower over 8%. The tech giant posted its first revenue decline in 13 years. Apple sold 51 million iPhones during the quarter, compared to 61.2 million one year ago. Investors did not like this announcement causing a down day of 6.38%.
Twitter (NASDAQ: TWTR) remains the weakest of all the social media stocks, today losing 16.48%. The social media site collapsed after reporting first-quarter revenue that missed Wall Street expectations and lowered its Q2 revenue forecast. Twitter added five million new users last quarter, bringing its total user base to 310 million. Twitter remains just off its all time low.
DreamWorks didn't get a lot of media attention today but had a huge 17.51% bounce. It was announced that Comcast (NASDAQ: CMCSA) is reportedly looking to buy DreamWorks for more than $3 billion. Comcast already owns NBC Universal and Universal parks and resorts. Shares of DreamWorks hit fresh 2016 highs today on the news.
Chipotle (NYSE: CMG) suffered a 6.03% decline today after the company reported its first quarterly loss ever. The restaurant chain has struggled to regain business following its E. coli outbreak last fall. Chipotle lost $0.88 per share on revenue of $834.5 million. Comparable-store sales fell 29.7%.
Lastly, Buffalo Wild Wings (NASDAQ: BWLD) sold off hard today losing 11.33% as the company's quarterly earnings and outlook fell below Wall Street estimates. Buffalo Wild Wings reported adjusted earnings per share of $1.73 on revenue of $508.3 million. This news sent the restaurant chain to new lows.