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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 board says its net income fell by 57%.
From last year to one billion dollars in the second quarter due to losses in Europe and Asia.
The company also lowered its full year earnings outlook excluding one time items Ford earned thirty cents topping the estimate by two cents.
Revenue of 33 point three billion dollars beat the forecast of 32 point 17 billion and shares of -- are higher in the pre market.
Boeing reported -- higher second quarter profit from a year ago is rising airplane deliveries offset increased pension costs.
The aerospace company says it made one dollar 27 cents a share easily beating the estimate for a dollar twelve.
Sales rose 21% from a year ago to twenty billion dollars which also beat the estimates.
For nineteen point 37 billion shares of Boeing are also trading higher in the pre market.
Caterpillar says its quarterly profit jumped 67%.
From a year ago and raise its earnings forecast for 2012.
The largest maker of construction machines -- -- dollars 54 cents a share sharply above the estimate for two dollars 28 cents.
Revenue rose 21%.
To seventeen point 37 billion dollars and Caterpillar shares behind the trend higher in the pre market.
Shares of Eli Lilly are also climbing after second quarter earnings topped expectations.
Helped by surging growth and its involved a depression drug.
Lilly says it ended adjusted profit of 83 cents a share for the second quarter topping the forecast by six cents.
Revenue of five point six billion dollars was right in line with expectations.
It's involved revenue was up 22%.
From a year ago.
The company also raises 2012 EPS guidance thanks to impact.
From a stronger dollar.
Shares of apple though are down more than 4% in the pre market after the company reported a rare -- with its third quarter results.
Apple's profit of 92 dollars thirty cents a share was up two point 1% from last year but it was a little more than a dollar short.
Of what analysts were looking for revenue jumped 2.3 percent to 35 billion dollars that missed expectations.
For 37 point 22 billion dollars.
The company's results were hit.
By the struggling European economy and consumers holding off on buying an iPhone until the new version is released that's expected later this year.
The company -- 26 million iphones during the quarter that missed Wall Street expectations.
But those weaker iPhone sales were offset somewhat by iPad sales those -- seventeen million topping expectations.
Apple also sold four million Mac computers the company released its new operating system from.
Today that's called the -- Mountain Lion that they've of the software -- has some features seen on the company's mobile devices like better integration with social networks.
We're getting earnings in from ConocoPhillips right now -- company is reporting an adjusted profit of one dollar 22 cents a share beating the estimate for a dollar seventeen.
But getting Arrington from US Airways as well the airlines reporting an adjusted profit of one dollar 61 cents beating the estimate for 156.
Revenue of three point eight billion dollars is also -- -- -- that there was -- three point 75 billion.
Let's take a look at the markets now here in the US fifteen -- dancing around a little bit we're seeing mixed.
Bad results there though the Dow agencies -- triple digits on NASDAQ still in the red that I have a lot to do.
With apple and Netflix both of those shares are down because of the company's group results.
Over in Europe UK GDP fell point 7% in the second quarter German July business confidence came in worse than expected and is that its lowest level in three years.
Also Spain's benchmark ten year bonds spiked to seven point 6:5%.
This morning.
Yet we -- still seeing markets up across the board not by huge amounts but still in the green.
A Frankfurt at the highest are now about 53 -- -- -- a closer look now what's moving those markets.
With BGC partners market analyst Michael Ingram joins us by phone from London Mike.
German bunds are being hit today on worries that the Euro zone debt crisis may hit stronger economies like Germany how well positioned are these countries.
To withstand the ripple effects of -- this.
Bottom line is mobile -- -- and they are an extra inextricably linked together buyer financial linkages and trade linkages I mean.
To give you an idea this.
The scale of the into -- if you look at the target to balances.
At the European Central Bank.
The creditor countries which -- -- rights Germany Netherlands Finland.
Are owed about a trillion euros by.
By the the countries which occurred in -- with -- such as Spain.
Italy Portugal -- sector so.
No there's no easy exits are -- but something which has been mentioned is that certainly it is of course put.
ETF at F.
On also on credit watch this morning so.
It's to prevent.
All right that's Mike Inger from BGC partners and I didn't have a good news first night but we still enjoy -- -- nonetheless thanks some.
All -- here's a look at commodities story -- -- -- are both up Imus in the morning continues right now.
