Chipotle gets crushed, Google and Cisco team-up, Apple's iPhone X problems

Yahoo Finance

Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.

Chipotle (CMG) shares traded near a five-year low in early trading after the Mexican restaurant chain posted another disappointing quarter, trimmed its same-store sales forecast and scaled back store expansion plans. It’s new queso cheesy dip has not been a hit with diners and the company is still trying to win back customers after numerous food borne illness outbreaks since 2015. Wall Street also weighed in this morning with at least nine brokerages cutting their price target on the stock.

Dow component Coca-Cola (KO) delivered a beat on quarterly revenue and earnings. The company said its new Coca-Cola Zero Sugar doubled in growth and it expects to launch the product worldwide in the first quarter of next year. Coca Cola also says sales in North America stayed flat but Sprite, tea and coffee sales grew.

Alphabet’s Google (GOOGL) and Cisco (CSCO) are teaming up to improve their cloud offerings. The two companies are combining their technology to help corporate customers more easily develop software for the cloud. Google and Cisco are trying to better compete with Cloud services from Amazon (AMZN) and Microsoft (MSFT).

And finally, Apple (AAPL) is reportedly reducing the accuracy of the iPhone X facial recognition system in order to speed up production. The report from Bloomberg comes just a day after Japan’s Nikkei said Apple may reduce the number of iPhone tens released Nov. 3rd due to facial recognition issues.