Chipotle (CMG) was one of the market's worst performers Wednesday, suffering its worst day of trading in five years and closing the day down more than 14%. The stock took a beating after reporting earnings that were well below analyst expectations for the period while revenue also slightly missed estimates.
General Electric (GE) was also having earnings-related trouble Wednesday, sending the stock to its worst performance since 2010. GE CEO John Flannery told a conference Wednesday that the company will look for more partnerships for its digital business as it looks to stem the tide of losses.
Shares of Nike (NKE) got a nice afternoon pop during the company's biannual shareholder meeting Wednesday. The company announced that it expects high single-digit revenue growth over the next 5 years while digital sales are expected to double to 30% of sales.
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation.
If you have questions, please contact us here.
Email
Email sent
Thank you, your email to has been sent successfully.
