Early Buzzers: McDonald’s Malaise, iPhone’s China Sales Forecast, Facebook Fires Up
Shares of McDonald’s Corp. (NYSE:MCD) fell 1.71 percent in early morning trading. The company said its second-quarter earnings will be reduced 7 cents to 9 cents due to global economic weakness. Same-store sales increased 4.4 percent in the United States and 2.9 percent in Europe. However, sales fell 11 percent in Japan when compared to last year.
Apple Inc. (NASDAQ:AAPL) shares edged slightly higher this morning. Analysts at Bernstein said that the tech giant could sell as many as 31 million iPhones per year in China by 2015, and increase to 80 million by 2017. The figures could boost earnings per share by $8 in 2015 and $12.50 in 2017.
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Facebook (NASDAQ:FB) shares popped 3.5 percent in early trading. The company announced late Thursday it plans to launch an app center for its mobile platform that would allow users to get personalized app recommendations on their smartphones. The app store will let users download Facebook-integrated apps for both Apple’s iOS and Google’s (NASDAQ:GOOG) Android devices, including popular apps like Instagram, Pinterest, and Draw Something. When the app center launches, Facebook said it will have more than 600 different apps.
Shares of Chesapeake Energy Corp. (NYSE:CHK) edged slightly higher in morning trading. The company is looking to sell roughly 450,000 acres of its holdings in Northern Michigan to cover an expected $9 billion to $10 billion cash shortfall, according to a prospectus released by one of its advisors on the matter.
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