(By Salman - iStockAnalyst Writer)US stock futures retreated on Monday as as investors booked profits after the recent rally.
At 8:16 am ET, the
S&P 500 fell 2.10 points to 1004.30. The
Dow Jones Industrial Average retreated 13 points to 9312. The Nasdaq Composite dropped 2.75 points to 1617.
Early on Monday,
McDonald's (NYSE:
) announced that global same-store sales climbed 4.3% in July.
Priceline.com Inc.(NASDAQ:
) announced Monday that its second-quarter net income rose to $67 million, or $1.38 a share, from $49.8 million, or $1 a share, in the year-earlier period. Revenue increased to $603.7 million from $514 million.
Dish Network Corp. (NYSE:
) said Monday that its second-quarter profit slid 81% to $63.4 million, or 14 cents per share, from $335.9 million, or 73 cents per share, in the prior year period. Revenue was nearly flat at $2.90 billion compared to $2.91 billion in the same period last year.
Late on Friday,
Berkshire Hathaway (NYSE:
) (NYSE:
) announced that second-quarter net income rose 14% to $3.3 billion, or $2,123 per Class A equivalent share, from $2.88 billion, or $1,859 per Class A equivalent share, in the year-ago period. Operating earnings, which exclude investment and derivatives gains and losses, were $1.78 billion, or $1,147 per Class A equivalent share, down from $2.27 billion, or $1,465 per Class A equivalent share, in the same quarter a year earlier.
French advertising company
Publicis Groupe SA announced that it has agreed to buy
Microsoft Corp.'s (NASDAQ:
) digital advertising firm Razorfish in a move to boost its share of advertising on the Web, according to a joint statement released Sunday.
After Friday's bell, mortgage giant
Freddie Mac (NYSE:
) said that it didn't need to ask for more financial aid from the U.S. government. For the latest quarter, Freddie Mac reported a profit of $768 million compared with a year-earlier loss of $821 million. Excluding items, Freddie posted an 11-cent loss in the latest quarter. Revenue climbed to $7.47 billion from $1.59 billion. Shares of Freddie Mac and
Fannie Mae (NYSE:
) soared in pre-market trading.
European stocks retreated in afternoon trade. At 12:48 pm London time, the UK FTSE fell 29.18 points or 0.62% to 4,702.38. The German DAX and French CAC decreased 0.90% and 0.63% respectively.
Asian stocks finished higher. The Nikkei 225 rose 112.17 points or 1.08% to 10,524.26. The Hang Seng index of Hong Kong jumped 554.15 points or 2.72% to 20,929.52.
NYMEX crude oil for September delivery declined as much as 50 cents lower at $70.43 a barrel in electronic trading.
Disclosure: Author doesn’t own any of the stocks mentioned here.
