McDonald's Corp (NYSE:MCD), up 2.8% to $262.90, reported double-digit growth in revenue and net income supported by price rises and solid international growth.
The fast-food chain said revenue in the third quarter revenue rose 14% to $6.70 billion from $5.87 billion, net income increased 17% to $2.32 billion from $1.98 billion, and diluted EPS climbed to $3.17 from $2.68. McDonald's president and chief executive Chris Kempczinski said the results “reflect our position of strength as the industry leader.” Read more
Disney (NYSE:DIS) stock traded higher in Monday’s premarket, up 0.6% to $79.85, as investors react to reports this weekend revealing that activist shareholder Nelson Peltz has the backing of former Marvel owner Isaac Perlmutter.
Perlmutter’s equity in Disney is said to represent the majority of stock and voting rights under the control of Peltz’ Trian Fund Management as it seeks Disney board seats and influence.
It comes after Perlmutter, who ran Marvel prior to the $4 billion takeover in 2009 and retained a role at Marvel up until March this year, was let go by Mouse chief Bob Iger as part of a broader round of cuts. Read more
Google has backed ChatGpt rival Anthropic with a further $2 billion investment, with an initial $500 million injection, according to reports over the weekend.
Parent umbrella Alphabet Inc (NASDAQ:GOOG) was trading up 1%, to $123.40, in Monday’s premarket deals. Read more
SoFi Technologies Inc, up 6.4% to $7.31, beat Wall Street expectations as it reported third quarter results – with $531 million of revenue, versus $511 million, plus a smaller than predicted loss of 3 cents a share versus 8 cents.
The fintech firm reported stronger volumes in student loans as well as personal and home loans in the period.
Loews (NYSE:L) reported a strong recovery in third-quarter revenue and earnings, supported by its insurance business and higher investment income. The conglomerate grew revenue to $3.93 billion for the three months to September 30, 2023, up from $3.46 billion in 3Q 2022. Read more