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Motorola Mobility to Cut 4,000 Jobs

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    FBN’s Diane Macedo breaks down the stories moving the markets around the world.

  • Duration 5:06
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Imus in the morning from.

Program on the Fox -- Good morning everyone let's take a look at the markets right now here in the US features have been searching for direction all morning we're now seeing up arrows across the board.

-- Dow futures are up by one the S&P is now flat as you can see the nasdaq's up by one in Europe Greek GDP contracted in the second quarter.

At six point 2% or pace of six point 2% that's actually slight improvement.

Over the first quarter believe it or not London's down by seven Paris and Frankfurt -- both up Frankfurt's up by about seventeen.

-- -- a closer look now what's moving these markets -- James Hughes senior market analyst.

-- out -- in London James how -- -- should investors be about the weaker than expected Japanese growth data.

And how damning will -- be if we get disappointing GDP numbers for the eurozone tomorrow.

Well I mean I think from that Japanese point of view I think that's -- We've been looking around elsewhere for a sign of that the global economy in the world economy.

Almost bucking the trend and and really giving us little bit more to shaft about resin was -- on in the eurozone of course has been so worried in -- -- shackled to what's been going on here today we've needed the other countries around the -- to help percent.

Those breaks countries in the attack mission aids is not -- of China and India who was doing so well we've been reported put GDP numbers.

Can test pretty hard and I think Japan's similar to that as well we wanna see these -- Economies performing well because pricing -- the -- -- -- wants to do he's got a -- hand -- for money to these other countries such.

If they -- performing that well then this zawahri in the eurozone of course says that they know gonna have the money -- if -- needed.

Today in bad out citizens that there's a little bars or really connect back to the -- -- I -- but I mean.

Looking at the GDP numbers tomorrow who are already had.

And the GDP numbers out of Greece which don't necessarily -- -- look too much into because we don't ever expect them to be anything they.

And I think -- -- will be a similar story very effect coming more negative than I think everyone would discover so he -- that's nothing.

Nothing any different -- that slightly spectator might -- things -- -- of showing beyoncé could feel myself.

Further from a market point you seem not to much of it had still not lose situation from this point of view unless they coming massively away from expectations to downsize.

I wonder James -- lately we've sort of seeing.

Bad news being good news in a certain way I wonder if -- currency markets boost even -- the GDP number comes in.

At a disappointing number because of hopes for stimulus.

Apps and remain as a say is who must act that none of these situations -- these numbers -- the -- -- because again it's the same point of view when you look purely from market quantity.

I'm not from a appointed you have citing the -- -- We can numbers -- show that.

And something needs to be done and already of course -- it was still deciphering.

I draw these comments when he's noticed that that they would do anything so we can numbers from eurozone GDP -- Almost say al-Qaeda married what you -- a difference and and I think to the other side of that anything more positive of course is will be taken as.

Positive news for the earth and if things are getting -- SI is.

It is so much an ugly situation for the markets.

When these numbers come out but again I think we've ever try to second guess the numbers because of course whenever something -- happen that happens it tends to -- to complete opposite way that we expected.

Though we now -- all right that's James Hughes from London thanks to gains.

Pfizer's animal health -- -- has filed paperwork to raise it to 100 million dollars in an initial public offering or an ownership stake of as much as 20%.

JPMorgan Bank of America Merrill Lynch and Morgan Stanley are the underwriters on the deal.

Pfizer will transfer its animal health businesses noticed before the IPO is complete.

Which is targeted for the first half of -- -- thirteen Pfizer says it has yet determined the price strange or how many shares it'll offer.

And layoffs are on the way at Motorola mobility the struggling cellphone maker which was acquired by Google back in May.

Says it will lay -- 20% of its workforce and close about a third of its ninety offices.

More than thirteen hundred of the 4000 jobs lost will be from the United States.

Motorola also says it plans to leave unprofitable markets stop making -- and devices and focus on a few cell phones instead of dozens.

The cuts are the first step in Google's planned to reinvent Motorola which has fallen far behind its biggest rivals apple and Samsung.

Motorola mobility lost more than 230 million dollars in its first six weeks under Google but shares of Google are now higher in the premarket.

You -- is bears by Bank of America's Merrill Lynch wealth management business outside of the US the Swiss private bank will pay 882 million dollars for the unit.

Boosting its assets by 40%.

Reuters reported in April at Bank of America was seeking to sell the Merrill Lynch business because it wasn't large enough to generate sufficient income.

Here's a look at commodities now oil and gold.

Are both up at the moment oil's up by about eighty cents having -- 93 almost 94 dollars a barrel.

Gold at 1625 announced.

Imus in the morning continues right now on Fox Business.

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