Wall Street opened mixed on Monday, as investors weighed a series of third-quarter earnings releases from McDonald's Corporation, Hasbro Inc. and Halliburton Company.
McDonald's Corporation (NYSE: MCD) reported fiscal third-quarter net income rose to $1.52 billion, or $1.52 per share, compared with $1.46 billion, or $1.43 per share, in the same year-ago period. Revenue missed expectations and increased 2.4 percent to $7.32 billion. Analysts polled by Reuters had expected earnings of $1.51 per share on revenue of $7.34 billion.
In addition, the global restaurant chain warned that global same-store sales for the month of October are expected to be flat.
"While we are focused on strengthening our near-term performance, the current environment continues to pressure results," said Don Thompson. "Around the world, we remain confident in our ability to drive sustained, long-term profitable growth through our global growth priorities -- optimizing the menu, modernizing the customer experience and broadening accessibility. Moving forward, we are committed to enhancing shareholder value through disciplined investments that support our long-term growth opportunities and further differentiate Brand McDonald's."
On Monday, shares of McDonald's fell 0.86 percent to $94.42 in morning trading.
Hasbro Inc. (NASDAQ: HAS) issued fiscal third-quarter earnings of $193 million, or $1.46 per share, compared with $164.9 million, or $1.24 per share, during the year-ago quarter. Excluding items, earnings were $1.31 per share, above the Wall Street estimate of $1.29, according to Reuters.
Revenue rose 2 percent to $1.37 billion.
"Our brand initiatives for holiday 2013 are resonating with consumers and retailers globally as we enter the all-important fourth quarter," said Brian Goldner, Hasbro's president and chief executive officer. "In addition to our innovative holiday launches, our expanded presence in faster-growing geographies is delivering growth, including emerging markets growth of 22% in the third quarter. We've also streamlined our organization and focused on the opportunities within our franchise and partner brand portfolio, which offer the greatest long-term potential across our global brand blueprint. These strategic steps are increasingly important as we continue to operate in a challenging consumer environment in developed economies."
Shares of Hasbro jumped 7.03 percent to $50.56.
Also on Monday, Halliburton Company (NYSE: HAL) reported fiscal third-quarter earnings of $706 million, or 79 cents per share, compared with earnings of $602 million, or 65 cents per share, a year earlier. Excluding items, earnings per share came in at 83 cents. Revenue rose 5 percent to $7.47 billion, from $7.11 billion.
“I am pleased with our third-quarter results; total company revenue of $7.5 billion was a record quarter for Halliburton,” said Dave Lesar, chairman, president and chief executive officer, in the earnings statement. “Globally, we will continue to expand our portfolio in deepwater, mature fields and unconventionals. We believe the underlying fundamentals for our industry are strong, and I am optimistic about Halliburton’s relative performance as we move into 2014.”
Shares of Halliburton declined 2 percent to $51.42 in morning trading.
After the bell on Monday, Netflix Inc. (NASDAQ: NFLX) is expected to report fiscal third-quarter earnings of 49 cents per share on revenue of $1.10 billion, according to analysts polled by Reuters, compared with a profit of 13 cents a share on revenue of $905.09 million in the year-ago period. Investors will be looking for subscriber expansion and net additions.
On Monday, shares of Netflix rose 3.39 percent to $344.82 in morning trading.
The Dow Jones industrial average fell 27.23 points, or 0.18 percent, at 15,372.42. The S&P 500 Index was down 1.92 points, or 0.11 percent, at 1,742.52. The Nasdaq Composite Index was up 4.02 points, or 0.1 percent, at 3,918.45.