Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Lowe’s Misses 2Q Estimates

Details

  • Description

    FBN’s Dagen McDowell breaks down the stories moving the markets ahead of the trading day.

  • Duration 6:09
  • Date

Clips

Also in this playlist...

Fox Business Brief

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Good morning everybody welcome to the best of Imus in the morning Monica Crowley is coming up talk some politics with -- -- man.

And also lieutenant lieutenant colonel bill talent.

Discusses recent developments in Iraq and Afghanistan.

But first let's check on your markets around the world to Asia first you -- losses across the board except for a very modest gain.

On the Nikkei in Japan in Europe we did have gains into year three major markets but now losses.

Are showing up in France in addition to England the -- still managing to hang country very paltry gain this morning.

The future is here in the US -- faces are down by twenty points were up slightly early on but again six straight weeks.

Of gains for the markets -- longest winning streak more than a year and a half.

An oil is up twelve cents a barrel lower earlier but back about 96 dollar A barrel mark.

For more on the European markets let's go to live to London where we're joined by David Jones chief market strategist for IG markets.

James at we've seen that the French market turn in the red is there any on -- big piece of news and all that's driving trading and may be some selling this morning.

No really was still -- also fairly choppy -- -- -- markets on lower volume and I think this this may be.

A -- that if a million business creeping back into markets like to this we we have the European made this coming back of the other guys you've got.

Past -- and Greece the Greek bailout back in focus I think there's going to be discussion on that nights this week something maybe.

Just taking a little bit of risk off the table in these sort of thin volume times it was in tonight.

What do you expect out of those meetings and what is the I -- -- What what possibly could -- -- to worry about with Greece you would think that everything.

That there is a worry about with that struggling country would have been back and in the market at this point.

Well you do you Phyllis -- that's a fact of less effect coming but I think -- I think this talk about may be.

An extension for the times -- by a lack clearly in the -- has been agreed but as we neither European economies in Greece.

In particular is still struggling but I think plenty people in -- -- don't want I want it to be say this is Germany's so -- an endless pocket.

For these -- last week nice if that if restructuring that there are hopes that that things inspire any getting bets that -- -- -- Spanish bond yields have dropped slightly.

This morning -- the market's taking a less risky if you of that spending is real not over the last two and a half years of its European debt crisis.

I'm surprises can just come I have not left so I think that's why we're saying ninety a cautious approach even -- -- not expecting bad news in the moment.

David is good talk to thank you so much David Jones chief market strategist at IG markets be well.

And for a closer look at the US markets in a previous today's trading we go to warrants some nanny and our -- -- good morning -- Good morning bring the market's winning streak still weak number six the Dow and S&P 500 now higher for the past six weeks in a row the longest winning streak in nineteen months.

And less than half a percent away from their highest levels for the Dow any S&P.

In four years in this week investors focused on minutes from the latest Federal Reserve meeting.

It's quantitative easing three coming few earnings reports -- this week but they do come from some notable companies like Best Buy and Hewlett-Packard.

Apple's new live phonies just weeks away and -- the world waits.

Here's your latest rumors on what it will look like a four inch display a metal back cover with a metallic finish to make it more resistant when he traffic.

Seven point six millimeters thick which is actually -- than most we're expecting.

And it runs obviously on forward G now pre orders are expected on the -- day of the announcement that September 12.

And -- is expected to launch on September 21.

In addition to the iPhone 5 is the iPad mania which is rumored to be closer to the -- -- and then the iPad.

And after 100 days of holding below 2011.

Prices gas prices are back up the national average this Monday morning three dollars 72 cents a gallon.

Up now for twenty days in a row and fourteen cents more than this time last year good news peak summer driving season is winding down.

And winter blends of gasoline is cheaper -- it.

We like cheaper and more business headline story this morning the biggest deal of the morning.

In the health care sector -- buying Coventry help for -- point seven billion dollars in cash and stock.

You throw in the debt in the valued the deal rises to seven point three billion dollars.

Coventry shares are soaring in premarket trading.

Because this deal comes in about 42 dollars a share a little more than that there's a 20% premium to that stock's Friday closing prize.

The move will help -- expanded government based health plans like Medicare and Medicaid.

Making it one of the largest providers shares of that -- also up on the news.

It's official Best -- the target of a takeover battle with founder Richard shoulder.

Has chosen a new chief executive to run the company you mayor Joseph lay the former CEO of hospitality and travel company Carlson.

Replaces interim chief executive Mike Mike -- Next month -- wants to team up with private equity investors to acquire best live for roughly 24 -- 26 dollars a share.

The talks have broken down after Best Buy -- -- has rejected its offer to conduct due diligence.

-- which owns about 20% of Best Buy shares has said he plans to use about one billion dollars of his own money to help pay for the deal.

Shares of Best Buy down in pre market trading.

Shares of Lowe's also falling in the premarket after that company reported lower than expected quarterly results.

-- that's way down almost two dollars a share and the home improvement retailer says it made 64 cents a share and six cents below investment.

Revenue fell 2% from a year ago to fourteen point two billion dollars again short of that testament -- fourteen point 46 billion.

Looking ahead Lowe's says expects to earn -- -- 64 a share for the fiscal year that ends early next year.

A dollars and eighty cents was best man.

Load More