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Wal-Mart 2Q EPS Tops Views

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

  • Duration 4:56
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This is -- Imus of the morning.

Around on the fox.

Good morning everyone let's start things off this hour with a look at the markets here in the US futures have been fairly flat though in the green.

Dow futures now up by twenty the S and he's up by about two same goes for the NASDAQ in here -- UK retail sales figures came in better than expected but overall.

Optimism for stimulus from Europe and the US seems to be fading stocks in Europe.

Currently mixed mostly down -- London's down by about nine Paris is down by about three -- Frankfurt's up.

By six -- -- meanwhile is out with its latest quarterly results the parent company of Sears and Kmart stores.

Says its second quarter loss narrowed from a year ago -- -- cut expenses and reduced inventory -- reported an adjusted loss of 86 cents a share which matched the street's forecast.

Revenue fell 6% from last year to nine point five billion dollars missing the estimate for nine point 63 billion.

Earlier this week Sears said it's moving forward with plans to spin off its hometown and outlet stores.

Along with some of its hardware stores into a separate company.

Shares of Cisco are up more than 5% in the premarket after the company topped expectations with its fourth quarter results.

And boosted its dividend Cisco reported a profit of 47 cents a share two cents better than expected.

Revenue rose 4% from a year ago to eleven point seven billion dollars and that just topped the estimates.

The company -- cost savings in the continuation of its restructuring program for those results.

Cisco also hiked its quarterly dividend 75%.

To fourteen cents a share but chief executive John Chambers says business in Europe.

-- remain challenging over the next several quarters.

Get several pieces of economic data this morning including the latest look at the labor market.

365000.

People expected to a filed for first time jobless benefits last week.

Obvious slight uptick from the prior week but we'll have to see if that number is revised we'll also get the latest data on the state of the housing market.

Housing starts are expected to come -- at an annual rate of 757000.

For last month.

That would be down slightly from June building permits a sign of future activity are expected to commit 770000.

That would also be up from the 755000.

We saw in -- you'll have all those numbers as soon as they cross at 830 Easter.

Apple is reportedly looking to venture into television business with its own set top boxes according to the Wall Street Journal the -- -- in talks with some of the biggest US cable operators.

About letting customers use an apple device for live TV and other content the journal -- says apple hasn't reached any deals with the cable operators.

-- possibly because of their elected to let apple get its foot in the door of the TV business.

Apple also faces the challenge of convincing consumers to buy a set top box for potentially hundreds of dollars.

Rather than -- -- from their cable companies for ten to fifteen dollars a share.

Keep in mind Tivo and Samsung already -- set top boxes but they've made little impact on the market so far.

And we just got earnings in from Wal-Mart the world's largest retail company is reporting an adjusted profit.

Of one dollar eighteen cents a share the estimate there was Vardalos seventeen -- slight beat.

Revenue came in at 113 point eight billion dollars and that was -- -- the estimate was for 115.

Point 75 billion the companies also reading raising its full year EPS guidance there.

Samsung meanwhile is set to fire the latest shot in its war against apple with the release of its Wi-Fi only galaxy note ten point one tablet.

The device -- store shelves in the US UK and South Korea today and it comes in two versions the sixteen gigabyte.

-- cost 499.

Dollars the 32 gigabyte.

-- cost 549.

Dollars the note ten point one -- -- son's first android tablet equipped with a digital pen.

And they can -- two applications side by side on a divided screens you can look at both applications running at the same time and that will allow users multitask and take notes.

Analysts say those features are intended to attract business and education customers.

And lure them away from the iPad which controls nearly 70% of the global tablet market.

Let's shift over back to markets and see what's moving them now -- rob a bank international's senior currency strategist Jane Foley.

In London -- UK cancer Georgia chancellor George Osborne.

Is facing growing pressure from economists to abandon his austerity plans and boost infrastructure spending to rescue the economy -- these -- the same economists who backed the plans -- years ago so.

Why the change in do you think -- formal policy.

-- the -- -- -- really stands in the economic data with the exception of this morning's retail sales data which the strong.

And -- -- -- -- which provided another positive surprise to take from the UK has been extremely weak UK economy has slumped right into a recession.

And my father is now process for the government to -- to can be.

All right that's Jane Foley live from rabobank in London.

Quick look at commodities oil and gold -- down Imus in the morning continues right now.

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