During Thursday’s Afternoon trade, Shares of McDonald’s Corporation (NYSE:MCD), inclined 7.57% to $110.35. The firm opened its current trade at $110.40, and as of now, it is trading at $110.37. The total volume traded for the day is 16.12M shares, as compared to its average daily volume of 6.20M shares. The stock is floating in a range of $108.38 - $110.88. The stock holda the market capitalization of $96.84B.
McDonald’s Corporation declared results for the third quarter ended September 30, 2015.
“Consumers have more choices than ever about where to dine, and our operational growth-led turnaround is focused on appealing to customers in the areas that matter most to them - great-tasting, high-quality food, convenience and value,” said McDonald’s President and Chief Executive Officer Steve Easterbrook. “I am encouraged by our operating performance for the quarter, with positive comparable sales across all segments, counting the U.S., in addition to sales recovery in China following the preceding year supplier issue. I am confident in the fundamental strength of the McDonald’s System and our ability to drive initiatives that are focused on delivering the greatest benefit for our customers.”
In the U.S., third quarter comparable sales raised 0.9%, the segment’s first quarterly comparable sales improvement in two years. The introduction of the new Premium Buttermilk Crispy Chicken Deluxe sandwich and breakfast, counting a return to the classic recipe ingredients for McDonald’s iconic Egg McMuffin, contributed to the segment’s performance. U.S. third quarter operating income declined 1% as a result of our incremental investment in wages and benefits for all eligible Company-operated restaurant employees, which is designed to improve restaurant performance and enhance our employer brand. Moving forward, rebuilding customer traffic remains a top precedingity for the segment.
In the High Growth Markets segment, third quarter comparable sales raised 8.9%, reflecting very strong comparable sales performance in China and positive performance in most other markets. Operating income raised 39% (68% in constant currencies). Emphasis on value and breakfast during the quarter contributed to China’s sales recovery.
McDonald’s Corporation operates and franchises McDonald’s restaurants in the United States, Europe, the Asia/Pacific, the Middle East, Africa, Canada, and Latin America.
Shares of Dow Chemical Co (NYSE:DOW), inclined 4.27% to $49.53, during its current trading session.
The Dow Chemical Company (DOW) declared it intends to restructure its participation in its group of Kuwaiti Joint Ventures with the objective of optimizing its investment and expanding its relationship with Greater EQUATE on the U.S. Gulf Coast. This declaration aligns with Dow’s preceding stated commitments to optimize its investments in certain joint ventures.
The optimization is predictable to occur in two phases. Under the first phase, EQUATE would acquire MEGlobal for a total equity consideration of $3.2 billion. The transaction will result in Dow receiving $1.5 billion in pre-tax proceeds. Following completion of this acquisition, which is predictable to close by year-end 2015, Dow will retain a 42.5 percent ownership stake in MEGlobal through its ownership of Greater EQUATE. This acquisition is also predictable to drive efficiencies and cost savings due to existing synergies between MEGlobal and EQUATE.
In the second phase, Dow and PIC have agreed that Dow will further reduce its overall ownership interest in Greater EQUATE. The target to complete this second phase of the transaction is mid-2016.
“This declarement demonstrates Dow’s commitment to evaluate our joint venture portfolio to unlock value for shareholders and simultaneously expand our relationship with a key planned partner,” said Andrew N. Liveris, Dow’s chairman and chief executive officer. “This transaction allows Dow to maximize shareholder value, while maintaining our commitment to these industry-leading joint ventures.”
The Dow Chemical Company manufactures and supplies products that are used primarily as raw materials in the manufacture of customer products and services worldwide.
Finally, Shares of Alphabet Inc (NASDAQ:GOOGL), surged 1.48%, and is now trading at $681.65.
When new Google parent company Alphabet reports Q3 earnings after markets close, it will be the last time that it does so without separating the core business from auxiliaries like Sidewalk Labs, Nest, and Google X, according to Business Insider
Because Alphabet didn’t officially exist until October, it won’t report its first segmented earnings until January.
Analysts are expecting revenue of $18.53 billion and earnings of $7.21 per share, up from $17.7 billion and $6.99 respectively last quarter.
This will be the first time that new Google CEO Sundar Pichai will speak on the call, and analysts will likely grill him about how he plans to steer the company. Business Insider Report
Alphabet Inc., through its auxiliaries, builds technology products and provides services to organize the information. The company offers Google Search that provides information online; Google Now that offers information to users when they need it; AdWords, an auction-based advertising program; AdSense, which enables Websites that are part of the Google network to deliver ads; DoubleClick Ad Exchange, a marketplace for the trading display ad space; and other advertising platforms, such as AdExchange and AdMob.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
