News Summary

) dropped about 1.1% after the company reported a 3.1% rise in its global comparable sales at all restaurants in operation at least 13 months in May. McDonald's sales increased 2.4% in the US, rose 2.3% in Europe and surged 4.3% in Asia, Middle East and Africa. Its systemwide sales for the month climbed 12%, or 4.7% excluding the currency impact. McDonald's now expects currency translation to benefit Q2 earnings per share by $0.09 to $0.10 per share due to latest strengthening of foreign currencies. Shares of Ciena Corp (NASDAQ:

) fell about 12% after the company reported a wider-than-expected second-quarter loss and issued downbeat third-quarter revenue forecast. Ciena reported its quarterly net loss at $62.7 million, or $0.66 per share, versus a loss of $90.01 million, or $0.97 per share, in the year-ago period. Excluding items, Ciena's loss came in at $0.24 per share. Its quarterly sales surged 65% to $417.9 million. However, analysts were expecting a loss of $0.11 per share on revenue of $428.2 million. Ciena projects Q3 sales of $435 to $455 million, versus analysts' estimates of $456.1 million. Shares of Posco (NYSE:

) gained about 13% after the company reported stronger-than-expected first-quarter results on Wednesday. LAYN reported its quarterly net income at $13.1 million, or $0.66 per share, up from $6.6 million, or $0.34 per share, in the year-ago period. Excluding one-time items, LAYN's earnings came in at $0.51 per share. Its revenue surged 16% to $267.4 million. However, analysts were expecting earnings of $0.28 per share on revenue of $242.9 million. LAYN's cost of revenue surged 16.5% to $200,225,000, or 74.9% of revenue, versus $171,912,000, or 74.5% of revenue, in the year-ago period. Read more