1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
Omar Venerio
Omar Venerio
Articles (1462) 

Dow Falls on Thursday

Chipotle tumbles despite earnings beat

U.S. stocks were mixed on Thursday, with shares of 3M Co. (NYSE:MMM) plummeting more than 12%. The Dow Jones Industrial Average fell 0.24% to 26,531, the S&P 500 index advanced 0.19% to 2,933 and the Nasdaq Composite Index rose 0.38% to 8,133.

Shares of Chipotle Mexican Grill Inc. (NYSE:CMG) fell almost 5% on Thursday after the company announced first-quarter results. Revenue grew 13% from the prior-year quarter to $1.3 billion, beating expectations by $30 million. Earnings of $3.40 per share beat analysts' estimates by 37 cents.

"This is the fifth consecutive quarter of accelerating comps, which reinforces our view that when we connect with guests through culturally relevant marketing focused on Chipotle's great taste and real ingredients, and provide more convenient access with less friction, they respond enthusiastically," CEO Brian Niccol said.

During the quarter, the company opened 15 new restaurants and closed two locations, bringing its total number of restaurants to 2,504.

Food, beverage and packaging costs were almost one-third of revenue, down 20 basis points from the prior-year quarter. Restaurant-level operating margins reached 21%.

Looking ahead to full fiscal 2019, the company expects mid- to high single-digit comparable restaurant sales growth, up from prior guidance of mid-single-digit growth.



Global markets

The main European stock markets traded mostly lower. The U.K.'s FTSE 100 retreated 0.50%, France's CAC 40 fell 0.33%, Germany's Dax slid 0.25% and Spain's IBEX 35 rose 0.47%.

In Asia, Japan's Nikkei 225 gained 0.48%, India’s BSE Sensex lost 0.83%, Hong Kong's Hang Seng declined 0.86% and China's Shanghai Composite tumbled 2.43%.

Disclosure: The author holds no positions in any stocks mentioned.

Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here.

About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

Rating: 0.0/5 (0 votes)


Please leave your comment:

Performances of the stocks mentioned by Omar Venerio

User Generated Screeners

pascal.van.garsseHigh FCF-M2
kosalmmuseBest one1
DBrizanall 2019Feb26
kosalmmuseBest one
DBrizanall 2019Feb25
MsDale*52-Week Low
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

GF Chat