Morning Buzz: Chipotle Mexican Grill (CMG), Credit Suisse (CS), Oracle (ORCL), Apple (AAPL)

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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