McDonald's (MCD) reported another tough quarter.
The fast-food giant reported a 21% drop in fourth quarter profit. Earnings matched Wall Street forecasts, excluding a $0.09 per share supplier issue. However, revenue missed estimates as it continues to struggle with store traffic in the U.S. and overseas. U.S. same-store sales fell 1.7%, but that was slightly better than what analysts' expected. McDonald’s also warned that sales this month would be negative.
Starbucks (SBUX) shares got a jolt this morning, trading at a new 52-week high. The coffee chain's sales and earnings soared during the holiday period thanks to strong store traffic as the company continued to expand overseas. Earnings and revenue both came in right in-line with analysts' estimates with sales up more than 13% from a year earlier.
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General Electric (GE) reported earnings per share that beat by a penny. Profits were driven by strength in its turbines and jet engines businesses. Revenue fell slightly short of estimates due to weak sales in its oil and gas units.
Sony (SNE) in the spotlight after the company said it’s looking to postpone the release of its third quarter results because of the massive hacking attack on Sony Pictures last year.
Box is making its long-awaited Wall Street debut this morning. The cloud storage provider sold 12 and half million shares at $14 dollars apiece in its initial public offering, raising about $175 million. The stock begins trading today on the New York Stock Exchange under the symbol “BOX.”
