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FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.
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This is -- Imus in the morning.
On the -- Good morning everyone -- -- CEO Rupert Murdoch is being questioned in London by the Levenson inquiry in the second of three days.
Of hearing spots this is -- Robert -- in -- following.
In London rather following those developments for us and -- Robert what's the latest.
Good morning Diane what is -- chairman and CEO Rupert Murdoch continues testifying before the let us an inquiry into British media practices.
It's being held at the royal courts of London.
Mr.
Murdoch opened his testimony this morning by saying the inquiry is needed because there have been some abuses.
I'm not to the phone hacking scandal the now defunct news of the world he also said the state of media in the UK it's a vital interest to all its citizens.
He went on to say his views were -- always tell the truth certainly -- interest of public.
To get their attention but always telling the truth -- the mr.
-- also said he does not believe in -- mobile phone messages.
Or private detectives -- these methods quote a lazy way of reporters not doing their job properly.
The lead counsel for the -- Robert.
And years he's gone back to his -- back as the early 1980s.
He -- question mr.
Barack about his relationships with prime ministers Margaret Thatcher.
John Major Tony Blair and Gordon Brown.
And mr.
Barak said he did not expect any help from them and that he has never -- a prime minister for any day.
News Corp.
is the parent company of the Fox Business Network Diane back to you.
All right Robert -- live from London thanks Robert.
Let's take a look at the markets now here in the US -- have been in the Green across the board all morning Dow futures -- -- by 33 BS and he's up by nine.
And the nasdaq's up by 53.
Over in Europe the UK is officially back -- -- recession after GDP contracted in the first quarter stocks there though are still up across the board London's up by four.
Paris is up by 55 in -- up by 85.
Meanwhile shares of apple are jumping 9% in premarket trading after the company surpassed Wall Street's expectations.
With its second quarter results that tech giant's profit nearly doubled from a year -- to twelve dollars thirty cents a share.
More than two dollars higher than what analysts were looking for.
Revenue jumped 59% from last year to 39 point two billion dollars.
Topping expectations of 36 point 81 billion iPhone sales remain strong coming in at a better than expected 35 point one million units.
While -- -- sales were just shy of expectations at eleven point eight million the company also says it sold four million Mac units.
And call it the apple -- fact some of the company's parts suppliers got a boost after hours as well on those results including Intel which rose nearly 1%.
Qualcomm got a nearly 2% boost.
Sprint Nextel reported a wider first quarter loss compared to a year ago in the company's wireless company.
That wireless company face steep costs.
From a network upgrade project and subsidies for Smartphones such as the Apple iPhone.
Sprint says it lost 29 cents a share that's much less than the -- -- that analysts were expecting -- looking for 41 cents there.
Revenue rose 5% from a year ago to eight point 73 billion dollars which is slightly higher than expectations and shares are higher.
In the pre market shares of Harley-Davidson are also higher after it reported strong first quarter earnings the motorcycle -- op profit of 74 cents a share two cents.
More than the street's forecast.
Revenue rose from a year ago to one point 27 billion dollars topping expectations.
And Harley says retail sales jumped more than 20% from a year ago.
The companies also raising its shipment guidance to between 240 and 250000.
Motorcycles.
In 2012.
Shares of Amgen are climbing in the premarket after it reached a deal to buy a Turkish generic drug company.
The Biotech giant will pay 700 million dollars for and then pharmaceuticals.
After out -- a number of international rivals.
The move will allow and into tap into emerging markets.
Which -- -- sales of pharmaceuticals grow faster than the US in Europe this comes after engine topped Wall Street's expectations with its first quarter results.
Company's profit jumped 5% from a year ago on higher drug sales to a dollar 48 cents a share three cents better than expected.
Revenue increased 9% to four point 05 billion dollars.
And now let's get the latest on weather from meteorologist Maria Molina in our Fox Business by the center hi Maria.
Hey good morning -- and today we're looking at some activity out across northeast but it's going to be very hit or miss in nature of media shower later today.
Across New York City but otherwise generally dry out there still a from the breezy side and also on the -- side.
With highs only into the low sixties for us from Boston down to parts of New York City otherwise across southeast looking -- very warm eighty.
Will be a -- in Atlanta with some sunshine but we're expecting rain across Chicago and it's right -- and.
Andrea thanks.
Let's take a look at commodities now boiling gold had been -- morning oil still up gold still down and Imus in the morning it's coming up.
Right after this and Fox Business.
