The Exchange

  • McDonald's (MCD) met estimates for its earnings and revenue in the first quarter, but same-store sales were sluggish amid the need to keep prices down and customer traffic up.

    The company said Friday it had sales of $6.60 billion, with a profit per share of $1.26, in the January through March period. In the same quarter last year, McDonald's earned $1.23 a share on revenue of $6.55 billion. Analysts surveyed by FactSet and Bloomberg were looking for $1.26 on the bottom line, while the Reuters consensus outlook was $1.27. The sales expectation was right around $6.6 billion.

    Directionally, same-store sales were a different matter. Comparable sales worldwide were down 1%, a number that was actually slightly better than the 1.1% decline projected by analysts. Still, it continues several months of shallow comparable sales for the Oak Brook, Ill., Big Mac seller. Whether it's a surprise in a slightly positive manner is secondary to the fact that comps aren't staying as elevated as McDonald's

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  • A horde of penguins took over the New York Stock Exchange Friday morning as SeaWorld representatives rang the opening bell to herald the company’s entry into the public waters of Wall Street.

    More than three years after its $2.3 billion sale by Anheuser-Busch InBev (BUD) to private-equity giant Blackstone (BX), SeaWorld (SEAS) is trading on the NYSE after raising a reported $702 million in one of the largest IPOs of the year. In its first minutes of trade, the stock is up 15% from its offer price of $27, which was at the top of a range starting at $24.Credit: AP, Richard Drew

    SeaWorld sold 10 million shares and Blackstone an additional 16 million, more than the 10 million originally slated. The underwriters, including Goldman Sachs and JP Morgan, have a 30-day option to sell an additional 3.9 million shares at the offer price. The deal values SeaWorld at just above $2.5 billion. This debut is part of a busy week for IPOs, which included New York-based grocery chain Fairway (FWM) on Wednesday.

    The

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  • Editors Note: The list of top stocks is derived from the quote pages that received the most views on Yahoo! Finance by examining data for the current week. It is not, however, a list of the most searched-for tickers or company names on our site.

    1. Apple (AAPL)

    Apple’s fall from grace accelerated yet again this week as more evidence of waning demand surfaced.

    Shares of Apple dipped below $400 for the first time since December 2011 on Wednesday after supplier Cirrus Logic warned about first-quarter revenue. Analysts extrapolated that the warning was directly tied to slowing demand of apple products.

    With popularity seemingly on the decline and still no new revolutionary products in sight, there was nothing to keep shares above the psychological $400 level.

    “The Apple of old had both substance and sizzle,” said Breakout’s Jeff Macke. “Today, Apple is just an old company with great cash flow.”

    Gene Munster, senior analyst at Piper Jaffray, believes we’re likely to start seeing some more

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  • By Pierpaolo Barbieri

    Exactly a year ago, Argentina President Cristina Fernández de Kirchner announced to the world the expropriation of 51% of Argentine oil company YPF from Spain's Repsol.

    It had all been planned. The announcement, broadcast on all the television channels, between applause and ovations. The Argentine provinces, seduced with a stake in the new company. And the Spanish board, disoriented after failed negotiations.

    The commercials were ready. Even the retro logo preferred by Kirchner's marketing was premeditated: It promised a back to the future featuring independent development, increased production, and “popular” prices to encourage consumption, culminating in precious energy independence. And this independence would be achieved with Argentina’s own resources, not as vassals of foreign companies.

    The Kirchner rhetoric was, as always, both nationalistic and hopeful. The privatization of the hated neoliberal years was tinged with irregularities. A new era dawned.

    The

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(701 Stories)
 
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