Market Focus

Chipotle

Chipotle posted an easy earnings beat after the bell. The burrito chain saw a 25 percent increase in profit after traffic surged during the quarter, that’s despite a menu price increase. It also lifted its sales outlook for the year. Shares initially jumped after hours to a new record. During the regular session the stock was slightly lower to $589.93.

Texas Instruments 

Texas Instrument also reported results after the close. The company’s second quarter earnings beat estimates because of higher demand for its chips. But its third quarter guidance was slightly below expectations. Shares fell slightly right after that report. During the regular session the stock was up slightly to $49.17.

Johnson & Johnson

Johnson & Johnson’s board announced a buyback. The Dow component will repurchase up to $5 billion worth of stock. The buyback was announced after the market close and shares initially popped on the news, finishing the regular session lower by half a percent to $101.27.

Halliburton

Halliburton posted earnings that matched estimates, but revenue was well above what analysts expected. The oilfield services provider said increased drilling activity in the U.S. and in the Gulf of Mexico helped up its quarterly profits by 20 percent. It also raised its share repurchase program. The stock edged up slightly to $71.

Hasbro

Hasbro’s profit slipped last quarter as its sales declined in its gaming unit. The toy maker did see sales for its Transformer toys and other products increase, but not enough to offset those soft game results. The company said it is well positioned for the holiday shopping season. But investors were disappointed, sending shares down more than 2.5 percent to $51.78.

Six Flags

Weak attendance at Six Flags weighed on that company’s earnings. The company blamed the shrinking crowds on the bad winter weather, which extended school calendars and shortened spring breaks. Shares fell four percent to $39.91.

Reynolds American

A Florida jury returns one of the largest verdicts ever against a tobacco company, awarding $24 billion to the widow of a man who died of lung cancer. RJ Reynolds says it will appeal the verdict and calls the damages grossly excessive. RJ Reynolds is a subsidiary of Reynolds American, which closed one percent lower to $57.98.

EMC 

According to reports EMC is being pushed to spin-off its VMWare unit by activist investor Elliot Management. The firm has taken a $1 billion stake in the data storage equipment maker and is reportedly attempting to convince the company that a sale of the unit would help the lagging stock. That sent shares up five percent to $28.33.

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