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Imus in the morning.
On the Fox -- Good morning -- -- work topped Wall Street expectations with its second quarter results the drugmaker reported an adjusted profit.
Of one dollar five cents a share four cents above the estimate.
Revenue edged up 1% from a year ago to twelve point three billion dollars topping the forecast for twelve point 15 billion.
The second largest US drugmaker also had strong sales growth for its vaccines and treatments for diabetes and HIV.
Shares of FaceBook at a record low in extended trading in are down 11% in the premarket.
After its first results as a public company revealed a major slowdown in revenue growth.
The social networking site reported -- second quarter profit of twelve cents a share that matched analysts' estimates.
Revenue came in at one point 18 billion dollars also topping expectations.
Of one point 15 billion but though it's up 35% from a year ago.
It's the slowest growth rate since the first three months of last year that the first time FaceBook disclose information about its revenue growth.
The company also reported that advertising revenue climbed 28% and the in the court excuse me CEO Mark Zuckerberg said FaceBook is seeing encouraging results from new advertising services.
And that FaceBook now has a clear path to build a strong mobile business.
Which is one division investors had real questions about shares of Starbucks the dollar down 10% 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 a share.
The estimate is for 45 cents.
Starbucks reported a second quarter profit.
A 43 cents a share two cents short of forecast revenue climbed nearly 13% from a year ago to 3.3 billion dollars but that was also shy of expectations.
And -- set to get the first look at second quarter US growth at the bottom of the hour and economists expect the gross domestic product to come in -- 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 on the first quarter.
But that number could 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 that numbers in -- across is at 8:30 eastern time.
Checking the markets now here in the US where waiting -- GDP you read futures -- integrate across the board Dow futures are up by 35 gets -- he's up by four in the nasdaq's up by nine.
In Europe Reuters is reporting that according to a eurozone official Spain has for the first time conceded it may need a full EU IMF bailout.
Billion dollars of borrowing costs remain.
Unsustainably high stocks in Europe are still in -- across the board London's up by six -- up by 32 and Frankfurt's up by nine.
Now let's take a closer look at what's moving those markets with -- just global insights director of sovereign risk on -- over in London.
-- on Spain's reportedly finally conceding that may need.
A full bail out if its borrowing costs remain high what options are on the table for the country and the euros on at this point.
While the country the government has in effect being -- up a -- though.
A program that it would have to take undertake if it -- a bailout.
I think the bailout auction -- exist if the Europeans felt Spain -- doing enough.
But I think -- -- is doing the right things it is moving in the right direction.
It's a little private trip -- about bailout.
We just -- the ECB saying it will do whatever it takes to reduce borrowing -- -- interferes with monetary policy.
If -- happens then no -- we will.
We are pushing back the day when that may be a need for a bailout.
Hang -- London Olympics officially kick off with the opening ceremony tonight the from a business standpoint.
The big question is were seven years and fourteen billion dollars worth of planning and construction during one of the country's worst recessions.
Really worth it -- say you.
I think I think it is what that I think cut we have been careful not to Aruba in debt ourselves.
Our local money for the Olympics comes not refunding -- doesn't -- national debt.
They'll be thirty million visitors visiting London is here twice woman twice as many.
Very clear about the idea pop pop pop down stadiums you can sell -- moment.
Movement to different areas is a real new novel way of building.
This kind of -- stages kind of event and it reduces cost the fact that you can groupies stayed in the round and so long to -- people.
And for what is -- -- I am certainly excited to watch that you can put that in the bank is about.
Thanks so much that it downtrend up over from London Ali great having you on -- good luck.
Here's a look at commodities now oil and gold are up across the board oil's around 89 almost ninety dollars a barrel gold trading at 1629.
Coming up this hour Imus is ghastly Fox News political analyst Angela McGlowan Imus in the morning continues right now on Fox Business giving you -- -- --
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