In the news this morning, McDonald's reported a drop in same-store sales, Hewlett-Packard wants to use less student labor in China, LinkedIn beat earnings and provided impressive guidance, while Coinstar also beat estimates, but provided a disappointing guidance. Meanwhile, Boeings Dreamliner saga drags on.
Same-store sales at McDonald's (MCD) fell by 1.9% in January, exceeding the 1.1% decline analysts had forecast. The company had warned of a decline, but obviously the size of the decline is larger than most observers expected. The company has struggled to grow sales as consumers continue to be careful with their spending. The company is also struggling to match strong year-ago figures.
Tech giant Hewlett-Packard (HPQ) is imposing new limits on the use of students and workers from temporary agencies on its factories in China. The company is following Apple (AAPL) as electronics companies respond to criticism of their labor practices in China.
Boeing (BA) warned Norweigan Air Shuttle that its first 787 Dreamliners could be delayed. The jets are expected to be delivered in April and June, but may not happen on schedule. A spokesman for the airline did not give a reason for the delay, but more than 50 Dreamliners have been grounded around the world after a series of issues with the planes' batteries.
Professional social network LinkedIn (LNKD) reported adjusted EPs of 35 cents per share, which walloped the mean analyst estimate for 19 cents per share. The company said it expects first-quarter revenue of $305 million to $310 million, compared to estimates for $301 million.
Coinstar (CSTR) reported EPs from continuing operations of 93 cents per share, topping estimates for 73 cents. Revenue during the quarter was $564.1 million, compared to estimates for $580.2 million. The company also forecast first quarter core-earnings from continuing operations of 77 cents to 92 cents, well short of estimates for $1.21.