Mid-Morning Market Update: Markets Mixed; McDonald's Posts Higher Q3 Profit
Following the market opening Monday, the Dow traded down 0.15 percent to 15,376.66 while the NASDAQ surged 0.24 percent to 3,923.52. The S&P also rose, gaining 0.02 percent to 1,744.79.
McDonald's (NYSE: MCD) reported a 4.6% rise in its third-quarter profit. McDonald's quarterly profit surged to $1.52 billion, or $1.52 per share, from $1.46 billion, or $1.43 per share, in the year-ago period. Its revenue climbed 2.4% to $7.32 billion. However, analysts were expecting earnings of $1.51 per share on revenue of $7.34 billion. Its same-store sales in the US increased 0.7%.
Shares of Check Point Software Technologies (NASDAQ: CHKP) got a boost, shooting up 5.14 percent to $61.41 after the company reported higher third-quarter profit.
Equities Trading DOWN
Shares of Osiris Therapeutics (NASDAQ: OSIR) were down 6.49 percent to $16.35 on 8-K announcing agreement with the FDA on regulatory pathway for Grafix and Ovation.
Gannett Co (NYSE: GCI) shares tumbled 5.02 percent to $26.11 after the company reported a fall in its Q3 profit.
Crown Castle International (NYSE: CCI) was down, falling 3.38 percent to $73.39 after the company reported a 9% rise in its third-quarter earnings. The company also announced an offering of 36 million shares.
In commodity news, oil traded down 0.70 percent to $100.10, while gold traded up 0.24 percent to $1,317.70. Silver traded up 1.72 percent Monday to $22.29, while copper rose 0.12 percent to $3.30.
European shares were mixed today. The Spanish Ibex Index rose 0.18 percent, while Italy's FTSE MIB Index dropped 0.02 percent. Meanwhile, the German DAX fell 0.04 percent and the French CAC 40 declined 0.25 percent while U.K. shares climbed 0.18 percent.
US existing home sales declined 1.9% to an annual rate of 5.29 million in September, versus 5.39 million in August. However, economists were expecting sales to fall to a rate of 5.30 million last month. The Treasury is set to auction 3-and 6-month bills.
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