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U.S. Morning Call: Family Dollar beats on earnings

Wednesday, July 10, 2013 - 03:14

July 10 - Family Dollar posted Q3 earnings per share at $1.05 and sales clocked in $2.5B.

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Let's kick off your morning -- Wednesday with earnings from two household names. Family Dollar posting results just minutes ago beating estimates. Looks like consumers are out -- spending dollars or at least eight dollar items that cost more like clothes and home goods selling -- much. Same store sales rose nearly 3% for the quarter shares of Family Dollar up nearly 3% in the premarket. According after that now we've got young brands in all comes down to how the -- bearing in China. Seems like he's got some health issues. Sales at KFC in China fell 36% year over year in April at the peak of the bird flu outbreak and by 25%. In May. -- predicts a turnaround by the end of this year shares up 8% since January. Moving on to markets US stock futures pointing to a lower open today. Investors perhaps cautious about what Ben Bernanke might have to say today when he speaks at a conference in Cambridge Massachusetts. Economists say most likely have this -- That the Fed is preparing to slow down its asset purchase program in the coming months. Another fed highlight minutes from the last FOMC meeting are released. Now with all the recent paper talk markets have been paying close attention to the thirty year mortgage rate. It's bike to four point 68 for the prior week and mortgage applications have slowed. Rates have been rising since early may at the current level fewer homeowners have an incentive to refinance. In our stocks to watch first Microsoft which said hackers have attacks and computers by exploiting a bug in windows. The bug was first disclosed two months ago by Google researcher who came under fire at the time for exposing the plot without going to Microsoft first. And keep buying shares of KKR. The PE house is setting new records in Asia wanting 186. Billion dollar fund that's the largest among rivals. KKR's taking advantage of the market volatility and finding opportunities to buy low. KKR are already has a four billion dollar Asia fund it raised -- 2007. Meanwhile rivals TPG capital and Carlyle are both struggling to raise new funds in their regions. And note the Nike air moguls. Rupert Murdoch looking spry and on the move at the exclusive Sun Valley resort in the wilds of Idaho where immediate tech moguls of all stripes. Are gathered for isn't high -- R&R and deal banter. With the US economy improving and media merger talk heating up is -- on the prowl for new contents project. Or maybe new life partner after splitting from wife Wendy after fourteen years. That's -- -- -- Wednesday morning call remembered follow us on Twitter at Reuters Insider and get more great videos at related dot com slash later in the I'm Lisa Bernhard.

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U.S. Morning Call: Family Dollar beats on earnings

Wednesday, July 10, 2013 - 03:14