GE Arm Cuts Ties to Gun Dealers and 2 More Dow Movers to Watch
General Electric Company (NYSE:GE): Current price $22.15
General Electric’s finance arm is severing its relationships with gun dealers, ceasing financing offers at roughly 75 gun shops throughout the country, after the Newtown massacre. GE’s headquarters is located in Fairfield County, Connecticut, which is approximately 20 miles from Newtown. GE Capital said that the change in its policy should not pose a material effect on sales, nor should it affect the financing of guns bought at stores such as Wal-Mart, which sell more than just weapons.
Chevron Corporation (NYSE:CVX): Current price $119.85
On Friday, Chevron posted earnings of $6.2 billion — $3.18 per share – diluted) –for the first quarter, versus $6.5 billion ($3.27 per share – diluted) year-over-year from 2012. Sales and other operating revenues in the first quarter stood at $54 billion, which was down from the $59 billion reported in the 2012 period, mainly because of lower prices for crude oil.
Mcdonald’s Corporation (NYSE:MCD): Current price $100.73
Speaking on CNBC’s Squawk on the Street, McDonald’s President and Chief Executive Don Thompson offered a look into the future of his company. Thompson was asked if a potential exists for McDonald’s to serve breakfast all day; he replied, “Yes, we would consider it. We have the focus on our existing menu, but we have looked at breakfast across the day. We have it in some markets around the world.” Explaining that McDonald’s has indeed explored some “innovative ways” to expand breakfast hours for customers, he commented, “I think we’ll be seeing some of those things in the near future.”
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