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Zuckerberg: Won’t Sell FB Shares

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  • Description

    FBN’s Robert Gray breaks down the stories moving the markets ahead of the trading day.

  • Duration 4:57
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Mr.

Imus for more important right now.

It was a -- Good morning I'm Robert -- let's check the markets here in the US we've -- futures in the -- all morning still moving lower at this hour just slightly lower seeing the Dow.

Giving up about 37 points.

In Europe meanwhile its sell weak demand -- an auction of German -- which the market read as positive for riskier assets at least at first blush we also got weak European services data -- the fragile state.

Of the economic outlook stocks well we've seen in the giving back some of their earlier gains operator in the green briefly after that auction now only the German Dax hanging on to gains.

-- a closer look now what's moving the European markets with IG markets analyst Chris.

Beat -- is in the London and Chris Europe -- president Jeanne Claude Europe are set to attend tomorrow's.

Important ECB meeting it will present a report on the situation in the Euro zone should we anticipate any surprises.

That could move markets from that report.

I think you don't read too much into -- -- parents at a meeting in -- have to make guest appearances.

So cooked in corn should be the key is can tracking yet the Germans and of ignoring the Europeans on -- -- the maintain it.

Yeah I know what is the -- Likely outcome we've heard you know some reports out yesterday saying no do you bail out plans for Greece -- -- looks -- And people -- more more -- maybe I even for a big bailout for us Spain and the -- so what exactly can we hear tomorrow that.

You could -- -- markets higher or perhaps since back really to the lows early in the summer.

Com I think you're gonna see him move -- anything very substantial some sort of major -- -- breakfast -- possibly even Italy and more resources of the ECB stands ready to provide whatever is needed if we don't get that.

We could see a move -- up.

Alright Chris -- takes -- much for joining us and I'm -- back stateside now.

Checking out shares of Dollar General they've been living higher in the premarket after reporting a higher quarterly profit from a year ago.

And boosting the earnings forecast for the year.

The discount retailer reported an adjusted second quarter profit of 69 cents share thousand nickel above the street's estimate.

Revenue was up 10% to three point 95 billion dollars slightly below the average estimate from analysts.

Dollar General also announced an additional 500 million dollar share buyback plan.

The US Justice Department is sharpening its criticism of BP for the 2010 oil spill in the Gulf of Mexico.

In court documents the DOJ accuses the British oil giant -- gross negligence and willful misconduct for that disaster.

It's a harsher stance taken yet by the US government on the matter and the gross negligence claim is a central issue.

For the trial -- that spill which is set to begin in New Orleans in January.

Previous found guilty of the charge the civil damages owed by the company under the Clean Water Act could quadrupled to 21 billion dollars.

The government and BP are taking part in talks to settle civil and potential criminal charges.

Nokia is set to unveil two new Smartphones today featuring Microsoft's latest operating system.

It may be a last major shot by both companies to regains some ground in the mobile market.

The -- 920 and smaller -- 820 devices will both run on the windows eight phone software.

Nokia's mobile market -- fallen below 10% a huge drop promoting nearly half of the market just several years ago.

When does tons of calculus -- 4% of the overall global Smartphone market and as well behind phones running on Apple's IOS.

Or Google's Android operating systems.

And it challenges already await the new devices Google's Motorola mobility will unveil its latest Smartphone today.

And a week from today apple hosted event where it's widely expected to debut its latest iPhone.

Plus Samsung says it will sell its -- as -- as early as next month.

Shares of FaceBook getting a boost in premarket trading -- -- CEO Mark Zuckerberg does not plan to unload any of his shares in the social network.

After the expiration of a lock up period next month.

-- -- Securities and Exchange Commission filing the company said Zuckerberg will hold on to the shares for at least the next twelve months.

The move is an attempt to reassure investors who have watched FaceBook stock lose more than half of its values since its may trading debut.

FaceBook said two of its board members market -- and Donald Graham do planned to sell shares.

To cover tax liabilities.

But -- not sell additional stock beyond that the company said it would not selling more stock itself to cover -- nearly two billion dollar tax bill that's related to stock compensation.

It will instead use cash and borrow from its credit facilities.

Take a look at commodities now oil and gold -- split move -- crude now ticking slightly higher been down most of the morning gold.

Still off by two and a half bust.

Well coming up this hour Imus is guests will be radio talk show host Laura Ingraham Imus in the morning Deb continues right now on Fox Business giving you the power to prosper.

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