U.S. Morning Call: GE energized in Q3; profit shoots up 8.3%
Friday, October 19, 2012 - 03:08
Oct 19 - General Electric posts an 8.3 percent rise in quarterly profit, as solid demand in the U.S. and Asia for its electric turbines.
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She would earnings this morning McDonald's to follow a little later let's pick up your morning call for Friday. He keep Howard with an eight point 3% jump in third quarter profit. Solid demand in the US and Asia for electric turbines and trains balance out weakness in Europe. CEO Jeff Immelt affirm the company's double digit full year outlook but warned of an uncertain global economy. Shares of GE trading down nearly 2% in the premarket. Prosecuting and I -- McDonald's success of its sales will be in focus when the fast food joint report quarterly results. -- expects profit to rise from the same period one year ago. Shares of McDonald's trading up ahead of the report. -- terrible day protect yesterday. Microsoft's quarterly profit falling 22%. In the third quarter. The sharp decline surprised investors who under estimated the impact of weak PC sales. Microsoft shares down 2% in premarket trade. Google may have had an even worse today the company's quarterly results. While falling well below expectations. Wiping more than 9% off its market value. The weak results were accidentally released early sending shares down half percent at their lowest point. From tech to -- chipotle profits also missing estimates shares down close to 11% in premarket. The restaurants saying sales growth would cool in 2013. -- I'm more likely saying told just so. The hedge fund manager called the stock attractive short earlier this month. Saying to partly will face tough competition from the much cheaper Taco Bell. US stock futures point to a mixed open this morning and while we're talking stocks. Early morning history lesson for you. In this state 25 years ago markets around the world came crashing down. With the Dow dropping by 508. Points the largest drop ever. That day it was dubbed black Monday. Leon investors looking forward to the release of existing home sales data for September. The pace of sales is expected to decline although overall housing market has recently shown signs of budding recovery. I have some stocks to watch -- got AMD this morning the chipmaker announced 121000. Layoffs late yesterday that's 15% of its workforce. AMD also forecast a drop in fourth quarter revenue much worse than what Wall Street expected. Yahoo! gives up on South Korea. The company will no longer do business there and they have recently been the ran past by local rivals and global competitors like Google and FaceBook in the mobile -- online space. More on this -- Softbank saga the Wall Street Journal reports that Softbank CEO has not ruled out of it for MetroPCS. Even as they move to close a deal with sprint. That's off your Friday morning call for more news follow us on Twitter at Reuters Insider. And check at a Reuters YouTube channel at Reuters dot com slash Reuters TV. I'm Lisa Bernard it is writers.
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