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Published on Oct 26, 2016
U.S.
stocks pulled back early Wednesday amid worries about Apple . Apple's
latest quarterly per share earnings beat Wall Street's forecasts by two
cents and revenue matched estimates, but iPhone revenue fell 13% to
$28.16 billion. The company sold 45.5 million iPhones during the
quarter, a 5% decline year over year. In other news, Chipotle shares
sunk after reporting a 21.9% drop in third quarter comparable store
sales, while analysts were expecting a drop of 18.7%. The restaurant
chain is still reeling from its 2015 E.coli outbreak. Southwest Airlines
posted earnings of $0.62 a share for its most recent quarter, down from
$0.88 a share in the same quarter a year ago. The results were affected
by a technology glitch over the summer that resulted in flight
cancellations and delays. TheStreet's Scott Gamm reports from Wall
street.
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