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U.S. Morning Call: Facebook on 100 million phones

Monday, July 22, 2013 - 04:22

July 22 - Facebook's expanding its presence, especially in emerging markets, with its ''Facebook For Every Phone'' app, which is now on 100 million phones.

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Super -- earnings at the top of Monday's morning call McDonald's do out with results in just a bit. A few things working against McDonald's. With a much weaker global economy the fast food chain has been forced to make money by increasing its market share and I raising prices on the menu. Another big pick up Americans are eating out as much. The Commerce Department reported last week in June saw the steepest one month decline in food services sales since 2008. That's his right to McDonald's same store sales -- looking for any meat or 1% rise in the second quarter. McDonald's shares trading close to 100 dollars in the premarket. Reporting after the ballot in net -- look for an update on how fast Netflix is luring new subscribers. Analysts forecast earnings of forty cents a share on one point seven billion dollars in revenue for the second quarter. And Abbott house of cards has been nominated for an anti shareholders will want to know Reed Hastings plans to invest more in original programming. Shares are up nearly 200% since the beginning of the year closing at 264. Dollars on Friday. The home for Smartphones may look like a house of cards but the social networks presents on feature phones has a very solid foundation. It's they spoke for every phone app. Which works on feature phones or -- stripped down moderately priced phones. Has reached more than 100 million monthly users most of them in emerging markets. Unfortunately that's not where FaceBook make it's ad money but it might be good in the long run as a emerging economies continue to grow. Investors investors will be anxious to hear about Facebook's ad revenue in developed countries went reports Wednesday. Today shares -- up slightly in the premarket. Apple's focusing on smarter devices at the Wall Street Journal reporting that apple in its Asian suppliers are testing larger screens for iphones in tablets. Apple taking a page from Samsung's book as it fights to win back market share from that company. Apple also fighting off hackers. Its main web site for developers remain shut down after intruders tried to steal sensitive information. Apple shares up a puck near 200 sorry your 426. Dollars in the premarket. Defense pondering a move that could be a huge blow for top US banks and the multibillion dollar and hires. In a one line statement this weekend the Fed said it's taking much deeper look at physical commodities trading. That is set back for banks like Morgan Stanley and JPMorgan. Which have already seen revenues from that sector shrank in the face of new regulations. On Tuesday the senate banking committee is holding its first hearing on the issue. Asking whether so called too big to fail banks should be allowed to assets like oil storage tanks or power plants. Some banks fearing the worst are trying to adapt. Morgan Stanley explored the sale of its commodity trading -- last year Goldman Sachs has already sold off its power plant division. And sources say Goldman and JPMorgan Chase are now considering -- sale of their metal warehouse firms. Taking a look at US stock futures and they are pointing to a slightly higher open. World shares testing five year highs today after actions -- odd days wing and Japan's weekend election. Take a look at prices of benchmark Brent and US crude futures trading roughly around the same level this morning. The price difference was briefed on Friday for the first time in nearly three years. What this means is that light sweet crude on the Gulf Coast is getting stronger vs Brent. Signaling that refiners are prepared to pay even higher prices for crude despite abundant supplies. I'm a macro front we're looking for existing home sales for -- expected to take up just point 6%. Compare that to May's rise of four point 2%. That's Monday morning call remembered follow us on Twitter at Reuters Insider and get more great videos at Reuters dot com slash legacy. I'm Lisa Bernhard thanks -- its.

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U.S. Morning Call: Facebook on 100 million phones

Monday, July 22, 2013 - 04:22