I had a similar issue.
Yesterday, I submitted an app build (1.03) using Xcode, it was around 6 PM and this morning it was still "Processing", in fact it is still "Processing".
This morning around 10:30 AM I submitted a second build (1.04) using Xcode but that one also took too much time to change its status, so I submitted a third build (1.05) using Application Loader around noon, application loader gave me a warning about the app being too large to validate its API usage (the build is around 12.5 MB), it was just a warning so I submitted it and I'm still waiting to for it to change status (2:16 PM).
Of course, each time I bumped up the Build number. All the builds had Enable Bitcode set to NO.
UPDATE (1:52 PM):
The second build (1.0.4) just became available for TestFlight.
UPDATE (4:43 PM):
The third build (1.0.5), the one submitted with Application Loader just became available for TestFlight.
My conclusion is that their servers are slower than before... maybe the volume of apps that are being processed has increased and the load of their systems is higher because there are new things to check for (bitcode, watch os stuff, etc).
