Earnings Drag Markets Down Wednesday

The Dow, Nasdaq and S&P all closed in the red.

Author:: Tony Owusu
Publish date:: Oct 25, 2017 4:58 PM EDT

Chipotle (CMG) - Get Report was one of the market's worst performers Wednesday, suffering its worst day of trading in five years and closing the day down more than 14%. The stock took a beating after reporting earnings that were well below analyst expectations for the period while revenue also slightly missed estimates.

General Electric (GE) - Get Report was also having earnings-related trouble Wednesday, sending the stock to its worst performance since 2010. GE CEO John Flannery told a conference Wednesday that the company will look for more partnerships for its digital business as it looks to stem the tide of losses.

Shares of Nike (NKE) - Get Report got a nice afternoon pop during the company's biannual shareholder meeting Wednesday. The company announced that it expects high single-digit revenue growth over the next 5 years while digital sales are expected to double to 30% of sales.