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GE Matches 3Q EPS Estimates

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

  • Duration 4:37
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This is maybe I'm just sort of -- -- Around on Fox Business Network.

Good morning everyone shares of General Electric are trading lower in the premarket after the diversified manufacturing technology company reported mixed third quarter results.

-- reported a profit of 36 cents a share matching expectations but revenue of 36 point three billion dollars missed the estimate.

The company says the overall environment remains challenging but it's -- -- to deliver double digit earnings growth this year.

Joining us now to help let's dig into these earnings is about settler of Dow Jones Newswires now Bob's on the phone with us and Bob was there anything in the report that really jumped out -- you.

Well as you mentioned they did.

They -- Adelaide on revenue they attribute that problem.

Unfavorable.

Foreign exchange rates you know they I think they take that it fell one point one billion a -- Are willing to look past that they they would or a little higher revenue but you know that will be.

The question for them and video on the parliament side they have -- margin improvement in their industrial businesses which.

Investors have been waiting to see.

That would direct -- -- sort of 4% this quarter is just thirteen point 7% a year ago so that there was improvement there.

And about CEO Jeff Immelt has been upbeat recently have you seen anything that may have changed that -- You know after looking through -- -- -- is comment commander reported you know he's he's still -- used.

Upbeat on General -- prospects.

You know he he did.

To the report does say it's a challenging.

Environment but -- -- he's still seems upbeat on General Electric -- did not -- specifically say they haven't changed.

Any of -- Guidance.

For the fourth quarter and beyond so you know that's that's good news that from the perspective of his -- company.

You know -- I'm sure you'll elaborate more on them.

Global economy and and what he sees.

On the call later this morning.

Our right that's about -- Dow Jones Newswires about thanks for joining us and if you wanna point out -- shares are trading lower.

In the premarket -- getting earnings it now from Ingersoll Rand the industrial machinery companies reporting adjusted profit of one dollar seven cents a share beating the estimate for 98 cents.

While revenue came in at 3.5 nine billion dollars and that was a slight miss yes that there was for three point 65 billion.

Checking markets US futures are in the red across the board Dow futures are down by eighteen the S&P is down by three -- nasdaq's down almost eight.

And stocks fell in the last session after jobless claims rose more than expected and -- surprisingly early results release came in weaker than expected.

That sent the NASDAQ to a 1% loss on the day as tech stocks plunged shares of Google also dropped by as much as ten and a half percent and finished up 8%.

But we are seeing shares rebounding slightly.

In the pre market this morning now in Europe European Union leaders made significant progress on establishing -- eurozone banking supervisor and that paves the way.

For the Bloc's rescue fund to inject capital directly into ailing banks the Google fiasco is weighing on sentiment there as well stocks are down across the board.

But London down by fourteen Paris down by eighteen and Frankfurt's down almost thirty.

Shares of Microsoft meanwhile also trading lower in the premarket after that company reported mixed first quarter results.

Earnings at the tech giant came in at an adjusted 65 cents a share topping -- 56 cent estimate but revenue.

Of just over sixteen billion dollars for short of the estimate and down 8%.

From last year Microsoft says -- most of that decline was fueled by a dip in demand for computers running windows due -- tight economy.

And consumers opting for tablets instead the company also says the revenue drop is due to -- deferral of roughly one point 36 billion dollars.

Which it expects to -- -- next quarter after launches a new windows -- Operating system.

-- -- the latest gauge on the housing sector this morning with the release of existing home sales for September.

Analysts are predicting that sales last month came in at a seasonally adjusted annual rate of four point 75 million homes that would be slightly down from August.

When sales rose to their highest level in more than two years that numbers out at 10 AM eastern and as usual haven't for you.

As soon as it crosses in the meantime let's take a look at commodities now we've seen oil and gold trading to the downside for most of the morning but oil has now reversed direction up by a penny.

Trading around 92 dollars a barrel gold still down by almost ten bucks at 1735.

Announced.

Coming up this hour Imus is guests will be Fox News political analyst Angela McGlowan and now here's the -- man on Fox Business ready to give you the power to prosper.

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