McDonald’s, which is the largest chain of fast food resturanti in the world, said profit for the third quarter by 5.9 percent over the same period last year. The company’s net profit amounted to 1.26 billion dollars or 1.15 percent per share 1.19 billion and 1.05 dollars per share. Company revenue for the period decreased by 3.5% to 6.05 billion dollars. Analysts forecast a profit of 1.11 dollars per share. In the United States in recent months, the company counts on its new range of products, which includes the McCafe espresso and largest sandwich came out until now Angus. After the data the company’s shares jumped by 2.5 percent to 59.80 dollars as the beginning of the year decreased by 6.2%.
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One of the largest pharmaceutical companies in the world – the U.S. Merck, has tripled its profits in the third quarter. The reason for this lies in the successful sale of its subsidiary for Merial Veterinary Medicine of the French pharmaceutical company Sanofi-Aventis SA. Merck’s net profit for the period from July to September jumped to 3.46 billion dollars or 1.61 dollars a share, from profit of 1,12 billion, or 51 cents per share for the third quarter of 2008 After excluding one-off effects of earnings per share amounted to 90 cents. This proved to 8 cents more than the expectations of market analysts, cited by Bloomberg. Revenue of New Jersey-based company rose by 2 percent annually to $ 6 billion as Merck won 1.7 billion dollars from the sale of its subsidiary company, Merial. Merck plans to acquire 41 billion dollars against rival Schering-Plough by the end of this year. Schering-Plough published earlier today its financial results for the third quarter, which showed a profit decline of 16% to 515 million dollars, or 29 cents a share.
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The Industrial company 3M Co, which produces over 55 000 different products, reported third-quarter profit that surpassed analysts’ expectations. Net profit for the third quarter of 3M is 957 million dollars or 1.35 dollars per share in earnings per share of 1.41 dollars for the same period last year. If you exclude certain one-off effects, profit of the company is 1.37 dollars per share, the average Wall Street expectations were for earnings of 1.17 dollars per share. 3M sales fell by 5.6 percent annually to 6.2 billion dollars. Since the beginning of the conglomerate in 2008 was shortened 5 800 jobs in order to optimize the cost. 3M’s shares started today’s session of the New York Stock Exchange to rise from 38 cents to 76.33 dollars. Since the beginning of the year they rose by 33 per cent. While 3M raise profit forecasts for the entire 2009 years of 4,5-4,55 dollars per share. The company’s previous forecast was for profit of 4,1-4,3 dollars per share.
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Italian Fiat automobile concern announced that for the third quarter of the year, sales revenue fell by 62 percent, and the reason for this is mostly a partnership with Chrysler Group, wrote in an online version of newspaper Wall Street Journal. The report of the company shows that its net profit in the third quarter fell nearly 19 times – up to 25 million, compared to 468 million EUR a year earlier. Revenue fell to 12 billion euro, 14.3 billion EUR a year ago at this time. “The company may reconsider the viability of investments made and planned, and even lead to their reduction,” he wrote in a message distributed to the media of concern. Because of this Fiat forecasts that revenue from sales by the end of the year will fall by another 1 billion EUR and losses of the Group will reach 5 billion EUR.
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The main stock indexes in the United States fell in early on the last trading session this week, after the financial results of General Electric and Bank of America disappoint investors, and the index of consumer confidence in the University of Michigan unexpectedly decreased. As a result, Dow Jones IA away from the one-year peak, which subdued during yesterday’s session. Two hours after the start of trading the index of the 30 largest companies on the New York Stock Exchange decreased by nearly 1 percent to 9962.9 points. The wider S & P 500 retreated further to 1.1 percent to 1084.2 points while the index of companies by the exchange Nasdaq – Nasdaq Composite, lost 1.3 percent to 2145.5 points. Financial and technology companies are ranked among the top companies in the losers of the session. The loss of the largest in size of its assets to U.S. Bank Bank of America for the third quarter was greater than expected. Investors ignored the good financial results on Google and IBM, and the rise of industrial production by 0.7 percent in September.
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Good start of the reporting season in the United States raised the bar on market expectations. Economic data and quarterly financial results that will come out this week, will undergo a serious test of investor confidence in the state of the economy. Furthermore, during this and next week at most public companies will publish their financial results. The week will begin with reports of Apple technology company and a statement of the Federal Reserve chairman Ben Bernanke in Asia on financial crisis. Total 135 companies or 27% of the index S & P 500 will report its financial results over the next seven days. Among them most are emerging from American Express, Microsoft, McDonald’s, Pfizer, 3M and Coca-Cola. Other big names that will be monitored closely by the markets are Yahoo, Wells Fargo, UPS, Amazon and eBay. Once reached its lowest value for the last 12 years in March, broader index S & P 500 rose by 61 percent over the next seven months. According to data from Thomson Reuters 79% of companies in the composition of the S & P 500 that have published their third-quarter results so far have surpassed market expectations. The best companies are presented in the financial sector. Market analysts expect that profits of financial companies will increase on average by 100% yoy in the third quarter after the autumn of last year’s financial crisis reached its peak forward CNN.
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The value of purchases made with MasterCard in Europe with growth of 3 percent for the second quarter versus the same period last year. From April 1 to June 30, cardholders of the Old Continent have made 1.7 billion card payments with their MasterCard, including the Internet. At 30th June 2009, 196 million cards MasterCard (without the inclusion of the Maestro and Cirrus), were issued by financial institutions, customers of MasterCard, across Europe, which increased by 3.8 percent, compared with results for the second quarter of 2008. The European cardholders could use their MasterCard cards at 8.6 million locations in the region and 29.4 million locations worldwide, including online.
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The Swiss bank UBS announced losses of 1.4 billion Swiss francs (about 916 million) in the second quarter of the year, reported BBC. Although the reporting period, market conditions have improved economic environment in many areas of the bank remain in recession, marked by the credit institution. One of the main reasons for this negative result is the removal of assets from the division of the bank in the U.S. Sought comment on analysts believe that the net loss of UBS will be tripled by the end of the year. In turn, the bank announced that it will act very carefully and constantly monitor their prospects. “Overall, our forecast has not changed and is consistent with our view that economic recovery will be hampered because of low levels of lending and structural weaknesses of the consumer and government accounts, write to the shareholders of the bank president of UBS Osvald rough and President Board of Directors Viliger Caspar.
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The biggest energy company in Italy and the owner of the Maritsa East 3 Enel reported 28% growth in its net profit to 3.524 billion euros in the first half of the year versus the same period in 2008, announced by the company. The company’s operating profit increased by 11 percent to 5.579 billion euros. The company’s revenues amounted to 28.457 billion or 3 percent less than the same period last year. The net electricity produced by the Enel Group in the first half of 2009 amounted to 122.4 tera-W/h (growth of 5.1%), of which 42.3 TWh in Italy and 80.1 TWh – in the world. Of the total net amount of 53.8% is produced from thermal power stations, 34.5 percent from renewable sources (hydro, wind, geothermal and biomass) and 11.7 percent from nuclear plants. As part of the plan to refinance and extend the average maturity of the consolidated liabilities of the Group Board of Directors of Enel and approve the issue – until June 30, 2010, one or more bond issues to a maximum value of 10 billion euros.
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Sony continues to lose. Giant in the field of electronics reported a quarterly loss due to new falling sales, reports BBC. The Japanese company reported net loss amounted to 37.1 billion yen ($ 390 million; £ 237 million) between April and June, compared with profit of 35 billion yen for the same period reported last year. The loss is not greater than market expectations, due to the ongoing efforts to reduce the cost of Sony. In May, Sony announced the first annual loss in its history. The company expects a serious loss in this financial year. The revenue of Sony for the period April-June were 19 percent of those earlier years, which is about 1.6 trillion yen. In addition to the ongoing decline in global sales from the company stated that this is due to the high value of the yen, which affect overseas earnings.
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