McDonald’s saw same-store sales rise in April. A sales increase in Asia helped offset disappointing sales in Europe and flat business in the United States. The world’s biggest burger chain says industry dynamics are still challenging, like its competition from rivals. Shares were off just a fraction to $101.95.
Another fast food company traded lower in today’s session. Wendy’s first quarter earnings surged as the company posted gains from the sale of company owned locations. That helped cut operating expenses, but also pulled down expenses. Still the results beat analyst estimates. Despite that shares fell slightly to $8.30.
High milk prices soured results at Dean Foods. The dairy company warned it will report a second quarter loss and cut its long-term profit outlook as it struggles with high commodity costs. Dean also blamed severe winter weather for the forecast, saying it disrupted milk deliveries to schools. Shares fell more than five percent to $14.55.
The Priceline Group
Priceline booked more hotels, car rentals and airline tickets which helped the travel site report an increase in profits. But the company’s outlook for the current quarter came in light as its expecting bookings to slowdown. Shares were down more than two percent to $1,108.
Barnes & Noble
Barnes & Noble is banking on textbooks to up its profits, that’s according to a report from Reuters. The bookseller is planning to expand its presence on college campuses. Now the chain has about 700 college stores, but within the next five years, the report says it plans to have 1,000 campus locations. That sent shares up more than two percent to $16.04.
Barclays is cutting 19,000 jobs over the next three years. Britain’s second-largest bank by assets will also set up a “bad bank” to house much of its investment banking business and its European retail operations as it looks to turn itself around and fix its trading slump. Investors cheered the move, shares popped more than seven percent to $17.73.
Toyota posted a record annual profit and global sales of more than 10 million cars for the first time ever, but the automaker is expecting a slower year ahead and a drop in profits as momentum from a weak yen fades away. Shares were down slightly to $108.15.
After the close Gap announced its same-store sales rose nine percent in April, driven by gains at its namesake unit, its Banana Republic business and its Old Navy store. The retailer also guided first-quarter earnings and revenue above the Street’s estimates. Shares spiked after-hours, during the regular session the stock was up one percent to $39.24.