This is the most knowledgable group I've ever been associated with (23 years).more testimonials »
McDonald's, GE Beat Analyst Estimates Friday, January 22, 10:44 AM ET
Two Dow Components reporting earnings this morning beat analyst expectations. We’ll see if that’s enough to drive the Dow higher today.
General Electric (NYSE:GE) posted a 19 percent decline in earnings, to $2.94 billion, or 28 cents per share. That compared to earnings of $3.65 billion, or 35 cents per share, in the same quarter last year.
Revenue fell 10 percent, to $41 billion, as jet engine profits and demand for other heavy equipment fell. Chairman and CEO Jeff Immelt did say that the company saw encouraging signs, such as improving orders for big equipment, by year-end.
GE’s full-year 2009 earnings fell 37 percent.
Also today, fast food behemoth McDonald’s (NYSE:MCD) beat expectations as earnings surged 23 percent.
Earnings totaled $1.22 billion, or $1.11 per share, at the Golden Arches, as compared to $985.3 million, or 87 cents per share, in the same quarter last year.
Revenue rose 7 percent to $5.97 billion, as same store sales climbed 2.3 percent.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.