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FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.
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This is the Imus in the morning.
I'm on the -- -- Good morning everyone shares of Bank of America are trading higher in the pre market after the company reported third quarter results.
The US -- second biggest bank -- it broke even for the quarter while the expectation was for a loss.
-- seven cents a share.
That was still well below last year's profit of 56 cents.
Revenue came minute twenty point 43 billion dollars that's below the estimate for 21 point 89 billion.
PepsiCo's third quarter earnings fell nearly 5% from last year as beverage sales in the Americas continue to drag on revenue.
That's -- those adjusted earnings came in at one dollar twenty cents a share topping the one dollar sixteen cent estimate.
But revenue dropped five point 3% to sixteen point 65 billion dollars.
Falling short of the estimate for sixteen point nine billion the company's revenue from snacks like to read -- increased 6%.
While global beverage sales grew 3%.
Both -- -- -- now with they look at last night's presidential debate as both President Obama and former governor Mitt Romney.
Met the challenge head on answered questions on a broad range of topics.
Both men came out swinging fox business's Peter Barnes is following a solid Hampstead new York and Peter this debate -- seemed a little more heated than the last one.
That's right President Obama coming out much more assertive mix it up with the governor Romney last night about taxes.
Economy jobs China.
Health Care Reform.
And energy policy.
I'll get America and North America energy independent I'll do it by more drilling.
More permits and licenses we're gonna bring that pipeline in from Canada how in the world the president said noted that pipeline I will never know.
This is about bringing good jobs back for the middle class of America.
With respect to something like -- we made the largest investment in clean coal technology to make sure.
That even as we're producing more coal were producing a cleaner and smarter.
Same thing with -- moral same thing would natural gas and appropriates our oil imports are down the lowest levels.
In twenty years.
Oil production is up natural gas production is up and most importantly we're also starting to build cars.
That are more efficient.
And that's creating jobs that means those cars can be exported because that's the demand around the world.
Money your -- Now both candidates hit the campaign trail today they had two key swing states President Obama to Iowa and Ohio.
The governor Romney to Virginia.
And.
All right -- -- live from Hempstead New York thanks -- we're getting earnings and now from Piper Jaffray the investment bank is reporting an adjusted profit of 72 cents a share being estimate for 31 cents.
Revenue came in at 133 million dollars the estimate there was -- 105 point six million dollars.
Taking a look at markets now in the US -- are searching for direction this morning.
Seeing a bit of mixed market for most of the morning announcing Dow futures up by four the S&P -- up by two other nasdaq's down by about two.
In Europe Moody's Investors Service confirmed its rating on Spain's government debt but assigned a negative outlooks signalling that a downgrade is still possible.
In the coming months us stocks in Europe are still in the green.
London's up by almost thirty Paris is up about nine in Frankfurt up ten let's get a closer look now what's moving those markets with -- Harlem market analyst at -- party in London.
Craig Moody's confirmed Spain's credit rating as we mentioned how do you expect that to effect.
The discussions about Spain as Europe's leaders meet -- their two day summit in Brussels this week.
Honest and nobody expected too much out of this woman now mean those folks -- live on that.
And they did Spain request form a -- -- so badly in the some of which could be school stuff the summit itself.
But now that we see in this -- A decision to not downgrades that the conflict that would suggest to me that maybe Mariano -- may delay making this request -- -- -- the and -- from the start the next did.
Again that a value spotted -- still a sustainable levels among about this I've got don't think my I don't know what will -- -- -- intervention from me from the -- apartments.
And Germany's finance ministers calling for an EU currency commissioner to have the power to strike down national but -- budgets.
And another EU treaty but at least one EU officials is nobody in the council wants new treaty -- commissioner.
-- had -- tax and -- what's your take on this debate how do you see it playing out.
I don't really think it's a realistic idea relates I don't think any view of the eurozone leaders are really gonna go for -- we've seen a lot of resistance from like phenomenon of -- recently.
He's implement its certain measures in the fourth fifth 2013 -- didn't want to it's be forced on them.
That ought to be forced on them that way they do eventually request a -- out so if -- -- for saying things like that for same I don't know -- taken these measures.
-- -- those -- become half of many of the eurozone countries.
I do expect and I don't expect -- by popular Prius has been -- move and to make it more problems people in Germany.
I thank -- trek airline market analysts that out.
