The markets were higher today as earnings from major Dow components fueled the rally. The Dow 30 was up 168, the S&P 500 added 4, and the Nasdaq 100 gained 11. Tomorrow the focus will continue to be on earnings, tax reform, and crude oil inventories.
Chipotle (NYSE: CMG) will be the big focus today after the close as the restaurant chain is due to report earnings. Analysts are prepared for a disappointment as the company is "still struggling to turnaround its business following a series of health scares over the past couple of years." Concerns over Chipotle's new queso dip which launched during the quarter, are a main concern as customers have been underwhelmed to say the least. Analysts are expecting to see earnings per share of $1.63 on revenue of $1.14 billion. Today the stock closed higher but earnings will surely cause a volatile move. For the year shares are lower by 13%.
AT&T (NYSE: T) will also report earnings after the close today but investors aren't taking any chances. Shares sold off to new yearly lows today, losing 0.79% in the process. Analysts will be focused on any updates on their $85 billion deal to buy Time Warner. Yesterday it was announced that it extended the deal deadline "for a short period of time" as the companies wait for regulatory approval. One other focus will be on the number of pay-TV subscribers. AT&T warned earlier this month that it had lost about 390,000 pay-TV customers during the third quarter. Shares are lower by 12% since hitting a high early this month.
Amazon (NASDAQ: AMZN) shares saw a pop of 0.99% today as the company announced its launch of Business Prime Shipping, a membership for business customers in the U.S. and Germany. The service will include free two-day shipping for eligible items, and customers can test the new offering with a free 30-day trial. Shares have been in a range for the last few months as investors await the earnings announcement on Thursday.