McDonald’s Breaks July Projections, Blackstone Preps for Hilton IPO, and 3 More Hot Stocks
McDonald’s Corp. (NYSE:MCD): The fast food giant reported that comparable-store sales gained 0.7 percent in July, enough to beat the consensus analyst estimate of 0.3 percent. Early morning breakfast traffic in the U.S. helped boost its domestic performance, while poor performance in Germany and France resulted in the company’s third straight quarter of negative comparable sales growth in Europe, down 1.9 percent.
Blackstone Group (NYSE:BX): Blackstone has apparently enlisted the help of several banks to launch an IPO for Hilton Worldwide, which the firm brought private in 2007 in a $26.7 billion leveraged buyout. The banks involved are expected to help Hilton refinance $13 billion in debt while flotation is expected to take place in the first half of next year.
Sanofi-Aventis (NYSE:SNY): Sanofi has reportedly given 1.69 million yuan ($276,000) in bribes to some 503 doctors in China according to a whistleblower who calls himself “bacon.” The company allegedly chalked up the payments under “research spending” in the cities of Beijing, Shanghai, Hangzhou, and Guangzhou in autumn 2007.
AVEO Pharmaceuticals Inc. (NASDAQ:AVEO): AVEO shares are down after the company reported earnings per share of -62 cents, missing estimates by 6 cents, and revenue of $0.3 million, missing by $4 million. The drop in revenue was due to revenue recognized during the second quarter of 2012 related to milestones achieved under the collaboration agreement with OSI, as well as research funding under the collaboration agreement with Centocor that did not recur during the second quarter of 2013, the company said.
21st Century Fox (NASDAQ:FOXA): Fox Sports has agreed to a 12-year deal to carry the U.S. Open golf tournament on its main Fox network and Fox Sports 1, swiping the event from long-term holders NBC and ESPN. The final bidding for the rights to the Open at least doubled the $37 million NBC and ESPN paid, Seeking Alpha reports.
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