Also in this playlist...
This transcript is automatically generated
This is this Imus in the morning.
Around 1 o'clock.
Good morning everyone shares -- face that hit a record low in extended trading and are down almost 10% in the premarket.
After its first results of public company revealed a major slowdown in revenue growth.
The social networking site reported a second quarter profit twelve cents a share which matched analysts' estimates.
While revenue came in at one point 18 billion dollars topping expectations of one point 15 billion.
But though it's up 32% from a year ago that's the slowest growth rate since the first three months of last year.
Which was the first time -- disclosed information about its revenue growth.
The company also reported that advertising revenue climbed 28% in the quarter CEO Mark Zuckerberg said FaceBook -- -- encouraging results from new advertising services.
And that FaceBook now has the clear path to building a strong mobile business which is one division investors had serious questions about.
Shares of Starbucks meanwhile are down 11% in the premarket after that company cut its outlook for the current quarter.
Due to the struggling global economy.
The world's largest coffee chain now expects sales to grow ten to 12% during the fourth quarter.
With earnings of between 44 and 45 cents share.
The estimate is for profit -- 45 cents Starbucks reported -- second quarter profit of 43 cents a share two cents short of the forecast.
Revenue climbed nearly 13% from a year ago to 3.3 billion dollars but that was also shy of expectations.
And we're getting earnings it from Merck now the drug makers reporting an adjusted profit of one dollar and five cents -- -- ask for one dollar one cent.
Revenue came in at twelve point three billion dollars that was also beat the estimate was for twelve point 15 billion.
And -- set to get the first look at second quarter US growth this morning and economists expected gross domestic product to come in at one and a half percent.
That would mark the slowest pace in a year and it would be down from the one point 9% we saw in the first quarter but that number could also be revised.
Experts say much of the anticipated slowdown is likely due to consumer spending less because of slow job and income growth.
We'll have the numbers for -- -- as they -- 8:30 eastern time.
Check the markets now after yesterday's big rally here in the US.
Futures were dancing around a little bit earlier we're now seeing green arrows across the board Dow futures are up almost fifty points guess if he's up by six the nasdaq's up by fourteen.
Over in Europe the French daily Le monde reported that the European central bank and eurozone government.
Are preparing to buy Spanish and Italian debt markets there are now in the green across the board.
London's up by eleven -- is up by forty and Frankfurt's up by eighteen.
The figure closer look now what's moving those markets that bubble bank international's global head of financial markets research -- -- -- over in London.
-- we have this report that the ECB in euros and governments are looking to buy Spanish and Italian bonds.
What kind of an impact would that have on both countries' debt -- that you go through with it.
-- initially it will help.
Make this rally here have a push.
Have a bit more longevity to it remember yesterday Mario drug ECB president's.
Said that essentially ECB will do whatever it takes.
I believe him -- will be enough almost literal quotation there from him.
Essentially the ECB can do of course just about anything and the ultimate solutions of course to -- on the printing press -- inflation.
But there is no -- done to -- firepower the key here is a broader -- yes they connected this with the ECB's key.
If you if you will mandate which is price stability they said the monetary transmission channel is -- is is imperiled here because the -- peripheral yields.
That is key -- was seen by many as a step further any previously -- -- willing to take.
Step conflict -- since early this morning the Bundesbank said but they certainly don't think there revive the S&P program which the home purchase program of the ECB to previous used to buy.
Peripheral -- should be revived so much.
But the Bundesbank was never in favor of this program so they may not have the decisive voice here.
Should just referred to the other story that -- on that we'll get a bit more proof behind -- story.
Longevity but it's still not a permanent solution unless the ECB commits to almost -- unbounded of -- purchases anything that has -- -- will ultimately be tested by the markets.
And -- very quick at about thirty seconds that Greece's prime minister's meeting with international austerity inspectors to outline high cost cutting reforms.
But we've several people say now that even if Greece does pass austerity is too little too late so what's the point.
It's very difficult to cut your way out of a crisis like this was two years ago at the finance minister here fifth degree from -- -- visiting a moment I'll thing all the plans to plan sounded great.
But in practice it didn't work out and that is distorting Greece -- expect the same promises no delivery necessarily.
-- -- that's down lamb racks over rabobank in London thanks -- The -- could look at commodities now oil and gold and -- -- Imus in the morning continues right now on Fox Business.
Filter by section