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Fast food restaurant chain $WEN reported a lower quarterly profit as lesser number of restaurants in the quarter reduced its revenue by 21.8%. The company reported 2Q16 earnings of $26.48MM, or $0.10 per share, compared with $40.20MM, or $0.11 per share a year ago. Income from cont. ops however rose by 7% as the company managed to cut costs by 25%.
$MCD stock rose more than 2% after it posted better than expected 3Q16 results, driven by global same-store sales growth. Meanwhile, earnings and revenue were lower than last year, hurt by refranchising efforts.
$RAI has received a $47 billion take over offer from British tobacco giant British American Tobacco! This is huge!
No better outlook on $MSFT. Even if the results beat a bit, the stock may move 4 to 6% higher, but won't go above $60.