lilly, fiat chrysler, lockheed martin and chipotle joining us now to discuss all the factors is gina sanchezgood morning to you. thanks for joining us. >> thank you >> earnings season continues at pace but the earnings growth we're seeing this quarter state side not quite as pronounced as the last two quarters. what's your take on the score card so far? >> we've been in catch up mode for the first two quarters i think a lot of people started to extrapolate that catch up mode into extraordinary numbers. not surprisingly the second half is always more disappointing than expectations. i do believe we'll have to start taking a pencil to the final numbers and next year's numbers starting next quarter. so this is not that surprising to us. however i think market participants priced in too much. >> sectors preference in the u.s., where do you like that at the moment vrnlg >> the biggest concern we have generally is a broader concern valuations are too high. if you look at -- if you sort of think about the sectors most vulnerable to that valuation story, it's growth sectors like technology we actual

gina sanchez, geno, what do you make of this downgrade pilingen to chipotle?e if you look at total analysts, there's only about 11% of analysts that have a sell rating in fact most are in a hold mode which is about 66% of analysts are holding chipotle light now if you look at it's comps at evaluation basis, it is the most expensive stock relative to other similar companies like jack in the box, et cetera and they've obviously had some issues e. coli issues, rat issues, a number of issues this labor issue is a real issue. i would be looking at it this is a concern. >> yeah, i mean, matt, listen, the stocks trading at 3.20 and change, it is 367. $47 above where the stock is now. they've got to come out and have more downgrades, cut their target prices or chipotle's got to come back, what do you think is going to happen >> well, it's really hard to say because like gina says, the fundamental situation is very challenging to say the least, believe it or not, on a technical basis, the stock is starting to look okay. it's obviously been going down for many, many mon