7989.63McDonald's said it earned $979.5 million, or 87 cents a share, in the first quarter, up from $946.1 million, or 81 cents a share, in the year-earlier period. The latest results included a 4 cents a share gain from the gain on the sale of the company's minority interest in Redbox Automated Retail, putting the results a penny ahead of consensus estimates of 82 cents a share.
Morgan Stanley posted a wider-than-expected quarterly loss on Wednesday and slashed its dividend as real estate investment losses and a debt-related charge wiped out strong trading and banking fees.The loss, the third in six quarters for the investment bank and brokerage, disappointed investors who were hopeful after rival Goldman Sachs Group Inc reported a surprisingly high profit last week. Morgan shares were down 5 percent in afternoon trading.
GM to shut many U.S. plants up to 9 weeks, AP reports
4:20 PM PDT, April 22, 2009
DETROIT -- General Motors Corp. is planning to temporarily close most of its U.S. factories for up to nine weeks this summer because of slumping sales and growing inventories of unsold vehicles, two people briefed on the plan said today.
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