Wall Street was seeing plenty of red Friday morning as technology stocks extended their recent retreat.
Around 11 a.m. ET, the ETF tracking the Nasdaq-100 was down approximately 2.7%, while the ETF tracking the S&P 500 had declined about 1.3%. The Dow Jones Industrial Average was holding up considerably better, with its tracking ETF down roughly 0.4%. [stocktitan.net]
The technology selloff followed earnings-related weakness in several major companies, including Intel and Amazon, one day after Alphabet suffered its historic decline. [finance.yahoo.com], [stocktitan.net]
Meanwhile, oil was again moving higher, with Brent crude around $113 per barrel and WTI near $103 in Friday morning reporting. [finance.yahoo.com]
💎 Diamond of the Day: Chipotle Mexican Grill (CMG)
Apparently investors still have an appetite for burritos.
Chipotle Mexican Grill earns our Diamond after continuing a strong week. Around noon Friday, shares were trading near $32.12, up approximately 2.7% on the day and 16.7% for the week. [finviz.com]
The move follows third-quarter results released Wednesday evening. Chipotle Mexican Grill reported quarterly revenue of $3.293 billion, up 9.6% year over year, while comparable restaurant sales increased 2.1%. Transactions increased 0.8%. [zacks.com]
Not everything exceeded expectations. Adjusted EPS of $0.27 was below the cited $0.29 consensus estimate. [zacks.com]
Why It Shined
- Shares were up approximately 16.7% for the week by midday Friday. [finviz.com]
- Third-quarter revenue increased 9.6% to $3.293 billion. [zacks.com]
- Comparable restaurant sales increased 2.1%, with transactions up 0.8%. [zacks.com]
- The company opened 84 company-operated restaurants during Q3 and reaffirmed plans for 350 to 370 openings in 2026. [zacks.com]
- Adjusted earnings nevertheless missed the cited consensus estimate, giving us an important balancing fact. [zacks.com]
On Halloween Eve, Chipotle is serving Wall Street something considerably sweeter than a bowl of candy.
🐕 Dog of the Day: Intel (INTC)
There’s unfortunately no shortage of scary stories in technology today.
Intel earns Friday’s Dog after shares fell more than 28% by 11 a.m. ET, according to real-time market data cited by StockTitan. [stocktitan.net]
The semiconductor company reported better-than-anticipated third-quarter earnings Thursday evening, but its fourth-quarter revenue outlook disappointed investors as PC-related sales weakened. [stocktitan.net]
Interestingly, Intel’s data-center and AI revenue increased 78%, highlighting once again that an earnings report can contain strong individual metrics while the overall market reaction remains decidedly negative. [stocktitan.net]
Why It Barked
- Intel was down more than 28% around 11 a.m. Friday. [stocktitan.net]
- The company forecast lower fourth-quarter revenue than in the third quarter. [stocktitan.net]
- PC-related sales were identified as one area of weakness. [stocktitan.net]
- Data-center and AI revenue nevertheless increased 78%, providing an important counterpoint. [stocktitan.net]
Intel may have delivered some treats in the quarter, but Wall Street appears focused on the tricks in the outlook.
₿ Bitcoin Gets Spooked Too
The stock market wasn’t the only place experiencing a frightening Friday.
Binance disclosed a security incident involving an estimated $6.3 billion in crypto assets, which CoinDesk said surpassed the $1.5 billion Bybit hack in 2025. [coindesk.com]
Bitcoin fell more than 3% over 24 hours and traded around $77,400 Friday morning, after briefly moving toward $76,000. Ether and several other major cryptocurrencies also declined. [coindesk.com]
Binance said the suspected breach may have involved a compromised engineer’s laptop, and roughly $3 billion of affected assets had reportedly been frozen. [coindesk.com]
Crypto-related equities were also under pressure Friday, including Coinbase, Robinhood Markets, Circle, and Strategy. [finance.yahoo.com]
Important Disclosure
This commentary is provided solely for informational and educational purposes and should not be considered a recommendation or solicitation to buy, sell or hold any security, cryptocurrency, sector or investment strategy. The “Diamond” and “Dog” designations reflect notable intraday market performance and/or publicly reported developments and are not intended as investment recommendations or assessments of future performance. Cryptocurrency markets may experience significant volatility and operational, cybersecurity, liquidity and regulatory risks. Intraday prices and market conditions may change materially before the close. Past performance does not guarantee future results. Investing involves risk, including possible loss of principal.