Halliburton 2Q profit tops expectations on international gain
Halliburton reported a second quarter net income of 679 million or 73 cents per share, beating estimates of 72 cents. Revenue rose to 7.32 billion helped by international demand despite an 8 percent North American revenue drop. The company expanded share repurchase authority to 5 billion and faces ongoing BP spill settlement negotiations.
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McDonald’s faces tougher year despite new menu items
McDonald’s posted a 4 percent second quarter profit rise but missed Wall Street estimates and warned of a flat July. CEO Don Thompson said pricing power is limited as competition and weak global conditions pressure sales. The chain with 34,000 locations cited higher promo costs and lower crew-hour efficiency from launching items like chicken wraps and egg white breakfast sandwiches. Wendy’s is renovating its outlets and pricing its premium burgers as rivals like Chipotle and Panera gain ground.
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Markets slide as US open dampens global trading mood
Markets opened subdued after a weak U.S. housing survey and softer McDonald’s earnings cooled optimism from Japan’s election results. Tokyo’s Nikkei rose modestly as Abe’s coalition wins nudged economic reform, while European and U.S. indices showed mixed moves with Dow and S&P nudging higher.
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