Stocks in the news: Morgan Stanley, McDonald's, Boeing
Morgan Stanley (MS) lost $578 million or 57 cents per share, after paying preferred dividends, in the first quarter, hurt by the deteriorating commercial real estate market. The loss was sharply lower than what analysts had expected -- a loss of 8 cents per share. MS shares declined over 8 percent in pre-market trade.
McDonald's (MCD) profit climbed nearly 4 percent in the first quarter to $979.5 million, or 87 cents per share as more customers came to the fast food chain for a cheap meal. Sales fell 10 percent to $5.08 billion from $5.61 billion. Same-store sales worldwide rose 4.3 percent. Results beat analyst expectations of profit of 82 cents per share on revenue of $5.19 billion.