Chipotle shares rise after revenue miss, earnings beat

Chipotle Mexican Grill Inc. CMG, +2.02% shares rose 0.6% in the extended session Tuesday after reporting revenue that was below consensus estimates but earnings that beat Wall Street expectations. The company reported fourth-quarter net income of $72.4 million, or $2.55 a share, versus $32 million, or $1.15 a share, in the year-ago period. Adjusted for items such as restructuring costs, legal expenses and closure costs, among other things, earnings were $2.86 a share. Revenue rose to $1.44 billion from $1.23 billion in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of $2.76 a share on revenue of $1.4 billion. For the first quarter, analysts model adjusted earnings of $4.10 a share on sales of $1.47 billion. The company said it expects to open 150 to 165 new restaurants in 2020. Chipotle stock has gained 68% in the past year, as the S&P 500 index SPX, +1.50% has gained 19.2%.

Nasdaq ends at a record as stock-market surge signals abating coronavirus fear

U.S. stocks on Tuesday staged a powerful rebound to mark a second straight positive session, signaling an abatement of coronavirus worries that had appeared to hurt bullish sentiment. Investors took comfort in efforts by the Chinese government and others to contain the deadly Asian outbreak and limit its impact on financial markets. The Dow Jones Industrial Average DJIA, +1.44% closed about 409 points, 1.4%, higher, around 28,809, while the S&P 500 SPX, +1.50% added about 49 points, 1.5%, to close near 3,298. The Nasdaq Composite COMP, +2.10% closed up by about 195 points, 2.1%, near 9,468, representing an all-time high. Shares of Tesla Inc. TSLA, +13.73%, meanwhile, surged nearly 14% in heavy volume as more analysts upgraded their views on the electric-vehicle maker.

Australia Retains Record Low Interest Rate

Australia’s central bank maintained its interest rate on Tuesday, as policymakers see gradual progress in inflation reaching target.

The board of the Reserve Bank of Australia, governed by Philip Lowe, decided to leave the cash rate unchanged at a record 0.75 percent.

The central bank had lowered the rate by 25 basis points in October 2019, which was the third such reduction this year.

“With interest rates having already been reduced to a very low level and recognising the long and variable lags in the transmission of monetary policy, the Board decided to hold the cash rate steady at this meeting,” the bank said in a statement.

The bank said the interest rates are set to remain low for an extended period so as to reach full employment and achieve the inflation target.

It remains prepared to ease monetary policy further if needed to support sustainable growth in the economy, full employment and the achievement of the inflation target over time, the bank added.

The board noted that easing of monetary policy last year is supporting employment and income growth in Australia and a return of inflation to the medium-term target range.

Moreover, the lower cash rate has put downward pressure on the exchange rate, which is supporting activity across a range of industries, the board observed. Lower interest rates also assisted with the process of household balance sheet adjustment.

This Is Exactly What Happens to Your Skin as You Age

Americans spend billions of dollars on skin-care products each year in the hopes these products will help keep their skin looking young and healthy. The skin-care market has been growing steadily for years, and global sales are projected to reach $183 billion by 2025, according to an analysis by Report Buyer, a marketing research company.

Some products, in addition to a healthy lifestyle, may help delay some of the inevitable changes in the skin’s appearance such as the dreaded wrinkles. These fine lines, along with other signs of aging like dryness and age spots, have one major common cause — sunlight.

There is no magic formula for looking younger than you really are. Sleeping well, eating healthy foods, and exercising are all important but may seem impossible in today’s busy environment. Unfortunately, how you treat your body may show on your skin — and these are 20 bad and common habits that are aging people really fast.

To identify 15 major changes the skin undergoes as it ages, 24/7 Tempo reviewed several clinical studies and research published in the International Dermal Institute and various journals such as Aging Cell.

Click here to see what happens to your skin as you age.

Snap Inc. Swings To Profit In Q4 On 17% Rise In Users; Revenue Misses Target

Snapchat parent Snap Inc. swung to an adjusted profit of three cents per share in the fourth quarter, an improvement from a loss of four cents a share. Wall Street analysts had expected the company to break even.

The social media company said daily active users increased 17% in the period, to 218 million, while total revenue climbed 44% to $561 million. The revenue figure undershot Wall Street expectations by $2 million, sending the company’s stock tumbling more than 12% in after-hours trading.

At the end of regular trading, Snap Inc. shares closed at $18.99, up 4% and near a two-year high. It was barely one year ago that the company’s shares were climbing out of a deep hole after a series of setbacks, including management turnover and unfavorable reaction to the company’s app redesign.

The growing Discover platform made a significant contribution to the results, the company said. Total daily time spent by Snapchat users watching Discover rose 35% over the prior-year quarter. While teens and college-age users remain the most avid subset of the total user base, older Snapchat users latched onto Discover content in the quarter. Time spent by over the age of 25 watching Discover increased by 60% year-over-year. More than 50 shows reached a monthly audience of at least 10 million viewers.

“The strength in our core business gives us confidence in our long term growth and profitability and we’re excited to build on these results in 2020 and beyond,” CEO Evan Spiegel said.