From Fnno.com, this is the Financial News Network. Here's a few things to watch for in the financial world today August 8.
The stock investors are most worried about this morning is Priceline (NASDAQ:PCLN). The company reported better than expected second quarter earnings after the bell yesterday but gave a negative outlook for the third quarter. Priceline said it now sees earnings of $11.10 to $12.10, well below the $12.82 a share analysts were expecting. This caused its stock to tumble 16% in after hours trading. The company said the cut in its forecast was due to economic troubles in Europe.
The Walt Disney Company (NYSE:DIS) will be another stock on the move in today's session. One of the world's largest media companies saw an unexpected profit gain of 24% in the third quarter, led by the strength in its cable channels and theme park business. Its movie studio also added to the boost after releasing "The Avengers", now the third highest grossing movie of all time. For the quarter ended June 30, Disney had net revenue of $1.83 billion or $1.01 a share.
Finally, the world's most popular fast food restaurant missed the mark this past month. McDonald's (NYSE:MCD)reported July same-store sales were flat and not the 2.3% gain analysts were expecting. Most likely the fast food chain was affected by Europe's economic woes as well as slow growth in the United States since sales in both regions were down 0.1%. Investors will be keeping an eye on this stock throughout today's session.
Those were a few things to watch out for here on the Financial News Network. For more coverage and analysis of the business world follow us on twitter @FNNOnline or check out our website at fnno.com.