Today's charts: Toll Brothers drops on revenue miss; Chipotle hits four-year low; Salesforce earnings after the bell
Yahoo Finance is tracking Toll Brothers, Chipotle and Salesforce in intraday trading on Tuesday.
Toll Brothers shares fall on revenue miss
Toll Brothers (TOL) beat Wall Street profit expectations but fell short on revenue. The US luxury homebuilder reported earnings of 87 cents a share and revenue of $1.50 billion. Analysts were expecting sales of $1.51 billion and EPS of 69 cents. Toll Brothers also issued two updates to its forecast, revising the number of homes it expects to sell for the year and narrowed its full-year revenue outlook. Toll Brothers now expects to sell between 7,000 and 7,300 homes for the fiscal year ended in October, compared to its previous range of 6,950 to 7,450 homes, and revenue is now expected in the range of $5.6 billion to $6.0 billion. Toll Brothers originally forecasted sales of $5.4 billion to $6.1 billion.
Deutsche Banks warns Chipotle could hit multi-year low
Deutsche Bank (DB) kept its sell rating on Chipotle (CMG) while slashing its price target by $65 to $250 per share, a level the stock hasn’t hit since 2012. Deutsche Bank analyst Brett Levy is concerned about Chipotle’s lofty fundamental and valuation expectations. The restaurant chain’s stock fell to its lowest level since February 2013 today and is down about 18.5% since the start of the year.
What to watch in Salesforce earnings
Wall Street is gearing up for earnings from Salesforce (CRM) after the bell this afternoon. Analysts are expecting earnings of 32 cents on revenue of $2.51 billion, up 23% from a year ago. Investors will be keeping a close eye on Commerce Cloud, which Salesforce launched last September, as well as its artificial intelligence division. Salesforce’s AI platform, Einstein, launched in Spring 2017.
For more on Tuesday’s big stock movers and breaking earnings after the bell, check out The Final Round, starting at 3:55 p.m. ET, right here on Yahoo Finance.
