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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 this Imus in the morning.
I'm on the -- Good morning everyone Apple's shareholders will gather at the tech giants Cupertino California headquarters today.
For their annual meeting are on Adam Shapiro joins us now with a preview hi Adam.
And -- good morning to you Diane that's right they will be in the theater behind me here at apple and one of the questions you can bet they want answered.
Is what is happened to the price of Apple's stock down almost 40% from its I have 705 dollars a share.
It's now trading yesterday closed at 1448.
Dollars 97 -- that's above the low which was it 435.
Dollars.
But there's been so much it's been going on first there were the rumors yesterday that perhaps.
There would be the announcement of a stocks led.
They have split the stock in the past 20052000.
In 1987.
Some analysts don't put much credence into the fact that they don't expected to be an announcement today if there were to be a stock split.
Then there is the issue of course David Einhorn from Green -- Capital successfully in courts bringing this issue what Apple's board of directors wanted to have a vote upon.
Which is what they called one issue changing the charter as -- successfully pointed out it was actually a couple of issues.
One of which would have made it more difficult to issued preferred shares which is something he wants done.
At the end of the day we don't expect too many huge announcements from Tim -- But you never know from apple and the key question for the shareholders what's happening with the value of their stock.
-- All right -- -- live from California thanks -- And shares of target are trading higher in the pre market after the discount retailers guidance for the current quarter topped expectations.
Target says it expects to post a first quarter adjusted profit of one dollar ten cents to one dollar twenty cents a share.
The estimate there's for dollar five cents as for the fourth quarter target made an adjusted profit of one dollar 65 cents a share easily beating the estimate.
Revenue climbed nearly 7% from a year ago to 22 point 73 billion dollars also better than expected.
Anheuser-Busch InBev meanwhile is facing a class action lawsuit for allegedly watering down several of its most popular Beers -- -- and our newsroom with more on that hardly people.
-- you notice a difference while maybe they were getting.
Us -- -- okay here's the deal several class action lawsuits going on across America are right now accusing Anheuser-Busch InBev of doing exactly that.
Watering down its -- ten at brands are involved Budweiser.
Michael Loeb but I base hurricane high gravity locker which -- never even heard of anyway the -- the plaintiffs are seeking millions of dollars in damages and they're saying that they spoke to people who work in the breweries for Anheuser bullish and and that final bottling process.
Anheuser has been adding water and that water can cut -- the alcohol contents of 28%.
So that's -- some of them are angry.
Of course Anheuser-Busch denies those allegations.
Allegedly goes to look at it we're just -- -- be a bit unfortunate fairly that's not the same case when it comes.
To buy any car -- -- and a lot of people are buying cars because the average age of the car on the road right now is at a record high just about -- -- years -- auto sales have been great.
The issue is you might be driving new wheels that you can not a sports -- -- -- median salary here in the US that.
Across 25 major cities looked at by Bankrate dot com about 57000.
Dollars -- that means that if you're buying a new car.
You can afford a monthly payment of 410.
Dollars putting that new car at about 21000 dollars well do you know of any new cars that tickets -- anyone now denies that's the problem usually there about 31000 dollars of many people.
Might be facing a monthly payment 200 dollars more than they can really afford.
We.
-- new cars for anyone at apparently not.
Press -- That flirts emitting from the newsroom thank thing yet.
And we're -- earnings kidnapped from diet actually -- parent of Applebee's an international house of pancakes is reporting an adjusted profit.
Of 83 cents a share topping estimate by a penny.
Revenue came in at 158.
Point six million dollars that fell short of the estimate analysts were expecting 161 point nine million.
Fed Chairman Ben Bernanke will be back on Capitol Hill today as he goes before a lawmakers in the house where he'll likely defend the central bank's policies again.
Ben Bernanke did that yesterday while giving his semiannual report.
On monetary policy to the senate.
He also worked to ease the market's worries over an early end to the Fed's bond buying program but said the Central Bank has the tools to -- in a timely fashion.
Bernanke also urged lawmakers to avoid the automatic spending cuts set to go into effect on Friday.
Saying along with earlier tax increases they could create a significant headwind for the modest economic recovery.
If you look at commodities now oil and -- -- -- -- oil up by about fourteen cents trading at 93 dollars a barrel -- down almost ten bucks.
Imus in the morning continues right now on Fox Business giving -- the powered across.
