McDonald’s Disappoints Investors in Q2 Profit and 2 Dow Movers to Watch
McDonald’s Corp. (NYSE:MCD): Current price $97.63
On Monday, the fast food behemoth posted second quarter profit figures that disappointed investors, who hoped for a better second half. McDonald’s blamed robust competition domestically, and slumping sales in Europe, for the net income of $1.40 billion, or $1.38 per share. The figures were up from $1.35 billion, or $1.32 per share, year-over-year in 2012. The corporation also said that it expects worldwide same-restaurant sales this month to be relatively flat. The consensus had anticipated earnings of $1.40 per share for the quarter. In late morning trade in New York, shares are down about by 2.5 percent.
General Electric Co. (NYSE:GE): Current price $24.82
GE Capital, Healthcare Financial Services, reported on Monday that it has modified its current $2 million senior secured credit facility to Saladax Biomedical Inc., so as to supply an additional $8 million multi-draw term loan facility, and to amend the terms of the existing $2 million term loan. The General Electric division is acting as administrative agent and sole lender for the credit facility. The loans will be employed to provide Saladax with working capital, in support of ongoing commercialization efforts, and for other corporate purposes.
JPMorgan Chase & Co. (NYSE:JPM): Current price $56.57
The German family-held holding firm Franz Haniel & Cie GmbH is examining options, including a divestiture of its entire interest in the pharmaceutical retailer Celesio AG, which is based in Stuttgart, according to an inside source. The source added that Haniel has recruited JPMorgan Chase & Co. to advise on the sale of a full or partial interest sale, or a partnership with another firm. Thus far, Celesio has drawn interest from a minimum of three companies, said the source. The process is still in an early phase.
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