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Hi everyone we just got earnings in from McDonald's and the fast food giant -- reporting a profit of a dollar 32 cents a share the estimate.
-- for a dollar 38 revenue came in at six point 92.
Billion dollars -- meant there was six point 94 billion.
Taking a look at market they are under pressure this morning due to concerns about the European debt crisis.
And the slowing Chinese economy here in the US futures have been -- -- -- across the board all morning -- Dow futures are down triple digits losing 151 so far.
The S and he's down by about fifteen and the nasdaq's down by 32 in Europe it's not need better their growing concerns there that Spain might finally need a full bail out.
And -- -- a government program to keep its finances afloat investors are also worried that Greece might not fulfill its bailout commitments stocks there.
Are in the -- across the board as well with Frankfurt and now London as well down by triple digits Paris is down.
Almost seventy points.
Also against the dollar the Euro sank below one point one for the first time in more than two years.
A -- a closer look now what's moving those you're being marketed IG markets sales trader.
Will headed over and money will Spanish and Italian bonds surged today but that's kind of the trend lately so -- -- -- spooking investors so much today.
When I think he had the second region it's kind officially -- the -- Shanghai we need we need help now as well I and that's yeah I over the weekend as -- -- pushed.
Contagion fears within the -- within -- other regions we need to cut the same way as an NC did -- -- I know this could have an effect on the accident I seems to -- for been in the market that we saw lettuce and he's been checked -- -- somewhat in and also off now we've.
The Italian regulates has mean punishing.
That kind of short sending financial stocks and this is caused that a pretty -- rally in some of the banks and it's aliens -- In Greece's newly elected government is looking to make billions of dollars in additional budget cuts.
As it prepares for -- visit by the -- attractive this weekend.
It -- do you think that those budget cuts might have on that strike that analysis and is it.
Too little too late did you think -- will work out.
Well I things too little too late in could be sending an -- view held by a lot of people Lewis sunny.
The way -- we've seen in Greece being unsuccessful in the Paul Austin perhaps once they stop pushing through trying to push -- federal says he does think anything can -- another.
Big barrier of public opinion.
And perhaps they -- -- to -- -- problems that we -- where these vests and I think that's going to be a big issue -- I censor what the the international bodies -- -- think and it's.
I think but -- all gonna stall things used to -- -- light and unless they really do get some kind of programs to -- That's we'll let an over IG markets thanks well on -- having -- and shares of Halliburton or climbing the premarket following better than expected second quarter results from that company.
The oil field services company says it earned a profit from continuing operations of eighty cents a share topping estimate by five cents.
Revenue jumped 22% from a year ago to seven point two billion dollars.
Beating the estimate for six point 96 billion however it also says revenue and all of its international regions had -- -- -- double digit percentage growth.
From the first quarter just got earnings in from Hasbro those -- -- mixed for the second quarter the toymaker and 33 cents a share ten cents above the street's forecast.
But revenue fell 11% from a year ago to 811 point five million dollars missing the estimate for 829.
Hasbro says still it's in a strong financial position.
And during the second half of the year.
We also had a few deals commend this morning China's top offshore oil producers buying Canada's next -- for about fifteen point one billion dollars in cash.
You know -- pay 2750.
That the 61%.
Premium to next since Friday closing price.
-- -- is an independent energy company and that deal is expected to close in the fourth quarter.
And RG energy and also buying -- on energy arrival and and the wholesale producer power industry.
For one point seven billion dollars in stock that works out to about two dollars and twenty cents breeze -- on share an 18% premium over the stock's closing price from Friday.
The deal will create the country's largest independent power producer.
And -- -- -- on the railroad industry as well Genesee Wyoming is buying rival -- America for one point four billion dollars -- 27 dollars and fifty cents a share.
That's an 11% premium to the stock's Friday closing price now come cash.
The deal will create one of the biggest regional -- -- operators in the US Tennessee will have 111.
Railroads and over 151000.
Miles of track.
Once that purchase closes here's a look at commodities now eleven -- like the markets have been read this morning -- down -- almost three dollars treating it.
Below two dollars trading below down by about two -- they want since they're an 89 dollars a barrel gold is down almost thirteen dollars.
At 1569 announce coming up this hour Imus is guests will be -- talk show host Larry King.
Imus in the morning continues right now on Fox Business.
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