Chipotle Mexican Grill, Inc. (CMG) is one of today’s notable stocks in decline, down as much as 28 points near $475 premarket. The nosedive comes as the burrito joint disclosed February comparable sales plunged 26.1% from (36.4%) in January. Same-store sales in the second week of March declined 27.3%. The company estimates that 1Q16 earnings will result in a $1.00/shr loss. That would mark the first quarterly loss for the company since it went public in 2006.
Shares of Credit Suisse Group AG (CS) are down by nearly 8% to $14.15 in pre-market trading on Wednesday on a Bloomberg report saying the Swiss bank is accused of money laundering by a Georgian billionaire.
Oracle Corporation (ORCL) is up $1.41 to $40.15 in pre-market trading after reporting fiscal results for the fourth quarter.
In its quarterly report, the Redwood City, CA.-based business software firm said it earned $0.64 per share, well above the $0.62 per share analysts were expecting. Revenue fell 3.4% yoy to $9.01 billion, below views for $9.13 billion. The company also announced that it had added $10 billion to its current stock buyback authorization.
Shares of Apple (AAPL) are marginally higher premarket near $105. The name significantly outperformed the market Tuesday following a note from Morgan Stanley’s Katy Huberty, who has an ‘Overweight rating on the name with a $135 price target, saying iPhone sales for the quarter ending March are looking better than expected.
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