Stocks Close Positive Week on Down Note
Microsoft (MSFT) posted a non-GAAP profit of $6.93 billion, or 73 cents a share, for its fiscal fourth quarter on revenue of $18.06 billion. Analysts were looking for earnings of 62 cents a share on revenue of $18.13 billion. Microsoft saw strong growth in its server and tools business in the quarter but the stock slipped 1.8%.
SanDisk (SNDK), the flash memory specialist, on Thursday reported non-GAAP earnings of $51 million, or 21 cents a share, for the second quarter on revenue totaling $1.03 billion. The performance topped the average estimate of analysts for a profit of 18 cents a share on revenue of $1.02 billion. Shares surged 10%.
Chipotle Mexican Grill (CMG - Get Report) shares plummeted 21.5% to close at $316.98 after the fast-casual restaurant chain reported that sales growth slowed at established restaurants in the second quarter thanks to tepid U.S. economic conditions.
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