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New York, NY -- (SBWIRE) -- 10/19/2012 -- Chipotle Mexican Grill Inc. ( NYSE:CMG ) has reported third-quarter 2012 earnings of $2.27 per share, which fell shy of the Zacks Consensus Estimate of $2.30. However, the result was ahead of the year-ago earnings of $1.90 per share. Double-digit top-line growth and margin expansion led to the year-over-year growth in earnings.Revenues grew 18.4% year over year to $700.5 million in the reported quarter buoyed by new restaurant openings and higher comparable store sales (comps). However, revenues too missed the Zacks Consensus Estimate of $703 million. According to Baird, it would use weakness in Chipotle to buy the share aggressively since it believes that Q3 results were missed because of a variance on new-store contributions, not fundamental issues. The firm stated that the company’s earnings report contains various positives such as healthy same store traffic, healthy balance sheet, and reassuring management commentary. Shares have an Outperform rating and a price target of $460.
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Advanced Micro Devices, Inc.(NYSE:AMD) revenue has dropped 25 percent in its third quarter that ended Sept. 29. The company has said that it plans to cut nearly 1,800 jobs by the end of the year. The chip maker’s falling sales is forcing it to trim costs. These jobs constitute about 15 percent of the company’s workforce.Demand is fast shifting from PCs to tablets and smartphones. The resultant drastic fall in PC sales is posing a big challenge for the world’s second-largest producer of microprocessors for personal computers. Rory Read, CEO of the California-based company has said that the PC industry is undergoing swift changes and that they need to restructure the business quickly.Shares of AMD fell 1% in the pre-market session.
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E TRADE Financial (NASDAQ: ETFC) was downgraded by equities researchers at Wells Fargo & Co. from an “outperform” rating to a “market perform” rating in a report issued on Friday. They currently have a $9.00 target price on the stock, down from their previous target price of $10.00. The analysts noted that the move was a valuation call.E TRADE Financial traded down 7.17% on Friday, hitting $8.745. E TRADE Financial has a 52-week low of $7.08 and a 52-week high of $11.69. The company has a market cap of $2.498 billion and a price-to-earnings ratio of 16.53.E TRADE Financial last posted its quarterly earnings results on Thursday, October 18th. The company reported ($0.10) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.09 by $0.19. The company’s quarterly revenue was down 3.4% on a year-over-year basis.
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Parker-Hannifin Corporation (NYSE:PH) plummeted 7.6% or $6.52 to $78.55 after the diversified manufacturer reported sales in the first quarter ending in September fell to $3.21 billion from $3.23 billion in the same period of last year. Net income in the quarter advanced 20% to $239.9 million or $1.57 a diluted share compared to $298.2 million or $1.91 a share a year ago earlier.For the fiscal year, the company revised its guidance for earnings from continuing operations to between $6.15 and $6.75 per diluted share from earlier guidance of $7.10 to $7.90 per diluted share. Shares of Parker-Hannifin C (NYSE: PH) are trading at $78.41 and is -5.59% of its 50-day Moving Average price of $83.0557 and -3.80% from its 200-day Moving Average price of $81.5081. The average trading volume is 1346340 shares and its market capitalization is $11.718B.
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