Stocks Opened Mixed, McDonald’s Earnings Disappointed

U.S. stocks opened relatively flat on Monday, pressured by a decline in McDonald’s shares after its results. The Dow lately fell 16.63 points, or 0.11%, to 15,527.11. The S&P 500 index was down 0.29 point, or 0.02%, at 1,691.80. The Nasdaq Composite added
2.30 points, or 0.06%, to 3,589.91.

Light sales in Europe and Asia dragged on McDonald’s (MCD) earnings in the second quarter, the fast food giant reported on Monday, as the company fell short of Wall Street’s expectations despite new menu items and higher U.S. sales. The Oak Brook,
Illinois-based burger behemoth posted earnings excluding items of $1.38 per share, up from $1.32 a share in the year-earlier period. Revenue increased to $7.08 billion from $6.92 billion a year ago.

Oilfield-services firm Halliburton Co. (NYSE:HAL) on Monday reported second-quarter net profit of $679 million, or 73 cents a share, compared with $737 million, or 79 cents a share, in the year-ago period. Revenue climbed to $7.32 billion from $7.23 billion.

Yahoo Inc said on Monday that it had agreed to buy 40 million shares of its stock owned by Third Point LLC for $29.11 a share and that three directors nominated by Third Point have submitted their resignations.

About the Author

has written 14755 stories on this site.

Copyright © 2012 Nine Stocks