The U.S. stock market traded higher in Thursday pre-market trading, at a time in which tech stocks are rallying.
Shares of Chipotle Mexican Grill Inc. (CMG, Financial) skyrockets in premarket trading today after the company posted first-quarter earnings per share of $2.13 on revenue of $1.15 billion, which was 7.5% higher than the comparable period. The company beat earnings estimates by 56 cents but were in-line with revenues.
"Chipotle is a purpose driven brand with loyal customers, passionate employees, industry-leading economic potential, along with incredible brand equity, and craveable food with integrity, all built over the last 25 years," said CEO Brian Niccol.
"While the company made notable progress during the quarter, I firmly believe we can accelerate that progress in the future. We are in the process of forming a path to greater performance in sales, transactions, margins and new restaurants," he said.
Looking ahead, the company expects for the full year 2018 comparable restaurant sales increases in the low single digits, with 130 to 150 new restaurant openings.
Gainers
ā¢ Advanced Micro Devices Inc. (AMD, Financial)
ā¢ Advance Auto Parts Inc. (AAP, Financial)
ā¢ Autozone Inc. (AZO, Financial)āā¹
ā¢ Baxter International Inc. (BAX, Financial)
Losers
ā¢ MGM Resorts Internationalāā¹ (MGM, Financial)
ā¢ eBay Inc. (EBAY, Financial)āā¹
ā¢ American Airlines Group Inc. (AAL, Financial)
Global markets
The main European stock markets traded lower. The U.K.'s FTSE slid 0.75%, France's CAC lost 0.62%, Spain's Ibex fell 0.28% and Germany's Dax retreated1.13%
In Asia, markets closed in the red. Indiaās BSE Sensexclosed up 0.62% and Japan's Nikkei gained 0.47%, but Hong Kong's Hang Seng retreated 1.01% and ChinaĀ“s Shanghai fell 0.35%.
Disclosure: The author holds no position in any stocks mentioned.
