Wall Street Week in Review: Mixed Bag of Earnings, Hot IPO
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We connected with Chris Hill of Motley Fool
regarding the Week on Wall Street to get his take on a few big names. Apple (APPL
) smashed earnings expectations -- again -- selling more than 9 million iPads and 20 million iPhones in the quarter. They now have $78 billion in cash
and are just $50 billion away from being the world's most valuable company. They've "surprised" on the upside for nine straight quarters. At what point is it not "surprising?"
In some disappointing news, Chipotle Mexican Grill (CMG
) reported lower-than-expected earnings for only the second time in company history. Why the miss? Higher raw food prices
and one-time charges were a factor. Turns out, avocados are especially pricey this year. Same-store-sales were still pretty strong and they're still opening news ones. Their breakfast burrito seems to be well received in trials and they are getting ready to launch a new Asian cuisine restaurant in DC. How much potential will the new concept have?
This week brought investors another seemingly hot IPO ... Zillow (Z). Shares soared more than 75% on opening day
. They only floated a small percentage of shares, but with only $36 million in ad sales, it looks like they're valued at over $1 billion. Learn why Hill says, "run away!"
Looking ahead to next week, investors can look forward to earnings from Amazon (AMZN
), Ford (F
), Hershey (HSY
), Whole Foods (WFM
) and ExxonMobil (XOM