Dow Down 205 as Weak Earnings Drag Market Lower

NEW YORK - DECEMBER 01: Traders work on the floor of the New York Stock Exchange moments before the closing bell December 1, 2008 in New York City. The Dow closed down nearly 680 points following negative economic reports. The National Bureau of Economic Research said today that the U.S. economy has been in a recession since December 2007.
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Among other stocks making big moves:

— Chipotle Mexican Grill plunged 15 percent after the burrito chain forecast that revenue growth would slow sharply next year. The stock had been a favorite among investors thanks to super-fast growth in recent years. The stock fell $42.93 to $243.

— Capital One Financial surged 6 percent, making it the top performer in the S&P 500. Capital One's quarterly results, reported late Thursday, easily trumped analysts' estimates as profits jumped 47 percent. The lender's purchase of both the online bank ING Direct and HSBC's U.S. credit-card division helped propel loan revenue. Capital One's stock gained $3.45 to $60.75.

— Advanced Micro Devices, the world's second-largest maker of microprocessors behind Intel, plunged 17 percent. AMD said late Thursday that sales of its chips have dwindled as buyers shift away from personal computers in favor of tablets and smartphones. It also plans to cut 15 percent of its workforce. AMD lost 44 cents to $2.18.

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