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U.S. Stocks Slip on Lackluster Apple Results; Chipotle Shares Crash on Earnings

U.S. stocks pulled back early Wednesday amid worries about Apple.
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U.S. stocks pulled back early Wednesday amid worries about Apple (AAPL) - Get Report . Apple's latest quarterly earnings beat Wall Street's forecasts by two cents and revenue matched estimates, but iPhone revenue fell 13% to $28.16 billion. The company sold 45.5 million iPhones during the quarter, a 5% decline year over year. In other news, Chipotle (CMG) - Get Report shares sunk after reporting a 21.9% drop in third quarter comparable store sales, while analysts were expecting a drop of 18.7%. The restaurant chain is still reeling from its 2015 E.coli outbreak. Southwest Airlines (LUV) - Get Report posted earnings of $0.62 a share for its most recent quarter, down from $0.88 a share in the same quarter a year ago. The results were affected by a technology glitch over the summer that resulted in flight cancellations and delays. TheStreet's Scott Gamm reports from Wall street.

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