NEW YORK (AP) -- McDonald's Corp. says it net income slipped 4 percent in the second quarter as a result of unfavorable foreign currency exchange rates. Revenue fell short of Wall Street expectations as the fast-food chain cited a slowing global economy.
The world's biggest hamburger chain says it earned $1.35 billion, or $1.32 per share, in the period ended June 30. That compares with $1.4 billion, or $1.35 per share, in the year-ago period.
Total revenue for the quarter was $6.92 billion, up from $6.91 billion a year ago.
Analysts polled by FactSet on average expected $1.38 per share on revenue of $6.94 billion.
The Oak Brook, Ill.-based company has more than 33,000 stores around the world and is often seen as a bellwether for the industry.
Desperation Time: Italian Regulator Reintroduces Financial Stock Short Selling Ban
Submitted by Tyler Durden on 07/23/2012 - 07:39
fixed
Here we go again: just like the summer of 2011, when it achieved absolutely nothing but succeeded in increasing the panic to a fever pitch, Italian regulator Consob has just reintroduced a selling ban for financial stocks. Supposedly, it will last only a week. Last year it was also supposed to be short-term but was only removed after the LTRO fooled everyone (well, not everyone) into believing Europe was fixed. It wasn't. Expect a modest blip higher, followed by the inevitable flush lower as every other European country follows suit, starting first with Spain.
Spain Follows Italy In Banning Short Selling
Submitted by Tyler Durden on 07/23/2012 - 08:32
Italy OTC
Moments after we reported the announcement of the Italian short-selling ban we had a simple question:
zerohedge@zerohedge
Where is the Spanish short selling ban? They are slacking
23 Jul 12 ReplyRetweetFavorite
We now have our answer, as Spain has jumped on the banwagonTM
SPAIN STOCK MARKET REGULATOR BANS SHORT SELLING
SPAIN'S SHORT SELLING BAN INCLUDES DERIVATIVES, OTC INSTRUMENTS
SPAIN'S SHORT SELLING BAN COULD BE EXTENDED BEYOND 3 MONTHS
And just because in Europe one has to constantly outdo everyone else, the Spanish short selling ban is on all stocks, not just financials.
------------
No worries everybody Ben has already said previously he will protect us from the EU troubles
@):smoking:
Submitted by Tyler Durden on 07/23/2012 - 07:39
fixed
Here we go again: just like the summer of 2011, when it achieved absolutely nothing but succeeded in increasing the panic to a fever pitch, Italian regulator Consob has just reintroduced a selling ban for financial stocks. Supposedly, it will last only a week. Last year it was also supposed to be short-term but was only removed after the LTRO fooled everyone (well, not everyone) into believing Europe was fixed. It wasn't. Expect a modest blip higher, followed by the inevitable flush lower as every other European country follows suit, starting first with Spain.
Spain Follows Italy In Banning Short Selling
Submitted by Tyler Durden on 07/23/2012 - 08:32
Italy OTC
Moments after we reported the announcement of the Italian short-selling ban we had a simple question:
zerohedge@zerohedge
Where is the Spanish short selling ban? They are slacking
23 Jul 12 ReplyRetweetFavorite
We now have our answer, as Spain has jumped on the banwagonTM
SPAIN STOCK MARKET REGULATOR BANS SHORT SELLING
SPAIN'S SHORT SELLING BAN INCLUDES DERIVATIVES, OTC INSTRUMENTS
SPAIN'S SHORT SELLING BAN COULD BE EXTENDED BEYOND 3 MONTHS
And just because in Europe one has to constantly outdo everyone else, the Spanish short selling ban is on all stocks, not just financials.
------------
No worries everybody Ben has already said previously he will protect us from the EU troubles
@):smoking:
The path of least resistance from the current levels is obviously to the downside
Last 1.5 years we've had twisting with extension and EU LTRO (EU "printing") and gotten us no where other then staving off the inevitable a little longer
At best we get another dip to 1100-1200 Ben and EU QEs and pumps us back to 1400s on a road to nowhere
But at this point the deeper they go into the QE well the less effective it will be so it might not "work" (slow growth choppy sideways equities)
Last 1.5 years we've had twisting with extension and EU LTRO (EU "printing") and gotten us no where other then staving off the inevitable a little longer
At best we get another dip to 1100-1200 Ben and EU QEs and pumps us back to 1400s on a road to nowhere
But at this point the deeper they go into the QE well the less effective it will be so it might not "work" (slow growth choppy sideways equities)
Okay jimmy Rodgers jr. Lol
All I know is something is messed up when a country needs 7%+ GDP growth to keep domestic companies profitable and happy (crazy how much theyve fallen going from 9a to 7s GDP) and create enough jobs to keep the billions happy
They are obviously in a landing process to the near term bubble they created due to heavy government stimulus intervention (always happens) question is how hard of a landing will it be
And nobody really knows what's really going on since the commies fudge their numbers
All I know is something is messed up when a country needs 7%+ GDP growth to keep domestic companies profitable and happy (crazy how much theyve fallen going from 9a to 7s GDP) and create enough jobs to keep the billions happy
They are obviously in a landing process to the near term bubble they created due to heavy government stimulus intervention (always happens) question is how hard of a landing will it be
And nobody really knows what's really going on since the commies fudge their numbers
