McDonald's Corporation (NYSE:MCD) announced Q3 results that missed the Street view on total revenues, hurt by a higher effective tax rate, unusual events in the operating environments in APMEA and Europe, and under-performance in the U.S. McDonald's Corporation (NYSE:MCD) reported Q3 EPS of $1.09, down from $1.52 a year ago. Excluding $0.42 per share in unfavorable items, earnings were $1.51 per share. The Street consensus called for earnings of $1.37, generally an ex-items number. Total revenues of $6.98 billion were down from $7.32 billion in Q3 2013 and missed analyst projections of $7.18 billion for the quarter.Global comparable sales decreased 3.3%, reflecting negative guest traffic in all major segments and the impact of a supplier issue in certain markets in APMEA. "We began 2014 mindful of the challenges we faced in driving sales and profitability," said McDonald's President and Chief Executive Officer Don Thompson. "The internal factors and external headwinds have proven more formidable than expected and will continue into the fourth quarter, with global comparable sales for October expected to be negative. These significant challenges call for equally significant changes in the way we do business. In the U.S., we are driving decision making from headquarters back into the field, where our restaurants serve the daily needs of our customers in their local communities. In our international markets, we are taking action to restore customer trust and regain business momentum. We understand the depth of the challenges and we are responding with the sense of urgency required to improve our performance."Coverage of online travel research company Tripadvisor Inc (NASDAQ:TRIP) has been initiated by analysts at Oppenheimer with an outperform rating and a price target of $99 a share. The price target on the stock represents a potential upside of 19% from its Monday closing price. Shares of Tripadvisor Inc (NASDAQ:TRIP) have a 52-week trading range of $69.33 - $111.24.Lockheed Martin Corporation (NYSE:LMT), a security and aerospace company, reported Q3 results that beat the Street view on EPS but fell short on total revenues. Lockheed Martin Corporation (NYSE:LMT) reported Q3 EPS of $2.76, up from $2.57 a year ago and beating analyst estimates of $2.71. Net sales of $11.11 billion were down from $11.34 billion in Q3 2013 and missed analyst projections of $11.28 billion for the quarter. The company updated full-year guidance and now expects full-year EPS of $11.15, at the top end of previous guidance of $10.85 - $11.15. The company now expects $45.00 billion in net sales, adjusted from previous guidance of $44.00 billion - $45.50 billion. Shares of LMT are trading within a 52-week range of $125.09 - $184.09.
Discover Hidden Gems
Don't miss the next big opportunity. Subscribe for timely alerts on potential market movers.
