The markets were mixed today as earnings and oil held back the major indices. The Dow 30 was up 30 thanks to Boeing, but the S&P 500 lost 3, and the Nasdaq 100 lost 33 as Apple disappointed the street with their earnings report. Tomorrow investors will continue to look towards earnings, along with durable goods orders and pending home sales numbers due out in the morning.
Apple (AAPL ) as the big earnings focus today as it appeared that investors were not impressed that the company beat earnings expectations by a penny or that revenues basically matched estimates. Shares were lower by 2.25% today mostly due to the company's forecast of profit margins in the current quarter being less than analyst's expectations. Headlines also focused on investors' disappointment that Apple's sales in China last quarter fell 30% from a year earlier. On the bright side, the iPhone maker said improved sales in China are "around the corner" and also that Apple "predicts a return to overall revenue growth in the current holiday quarter." Despite the attempts to calm investors, shares sold off all day long.
Twitter (TWTR ) was slightly higher today (+0.20%) as another report came out that Disney (DIS ) is once again interested in buying the struggling social media network. Twitter's stock was much more volatile the last time buyout rumors surfaced, but after all those gains were erased it seems investors want a little more confirmation of a deal before chasing this time around.
Chipotle (CMG ) shares were hurt today as the restaurant chain delivered third quarter earnings and revenue that missed analysts' estimates. In addition, same store sales fell 22% from year ago. Shares continue to slide to new lows as Chipotle continues to struggle to win back customers following a series of food safety scares last year. Shares were lower by 9.24% today, hitting new 2016 lows.
Boeing (BA ) reported earnings and revenue that blew past analysts' estimates, causing shares to pop 4.69%. Profit jumped nearly 34% from a year ago. The company also lifted its outlook for the year as deliveries increased. Technical traders note the massive breakout in the short term.