Diamonds and Dogs
1/16/13Chipotle Mexican Grill (CMG)
Chipotle is getting grilled today, down 5.48% at $281.03. The Mexican restaurant saw its shares crash after warning about its fourth quarter earnings. Chipotle is expecting fourth quarter earnings of $1.92-$1.97 per share, well below analyst estimates of $2.09 per share. Furthermore, food costs are expected to rise 130 basis points to 33.5% of sales on higher commodity costs. Chipotle has been continually hit with higher ingredient costs, which have taken a toll on the company's growth. The company lost over $16.00 per share today, but is still well above its 52-week low of $233.82.
Christopher & Banks Corporation (CBK)
Christopher & Banks is looking good today, up 12.87% at $6.40. The women's apparel store saw its shares spike after raising key sales expectations. Revenue from stores open at least a year is expected to increase by a high-teens percentage in the three months through February 2nd. Management had previously forecast gains in the high single to low double digits. The company also said that merchandise sales will be more profitable in the fourth quarter than in the same period last year. Christopher & Banks set a new 52-week high, passing the previous high of $5.89.