YUM Proving Importance of Global Growth
Want to see how important global growth has become? YUM Brandsbeat, but look at the growth: mainland China same store sales up 17 percent, 5 percent growth worldwide, 1 percent in the U.S. YUM now gets nearly 45 percent of its sales outside the U.S.
Buildings material maker Martin Marietta missed expectations and guided lower, saying "we do not expect growth in the homebuilding sector to materialize in a significant way until late 2009 or 2010.” Down 10 percent pre-open.
Whirlpool beat,but talked about rising material and oil-related costs, as well as lower industry demand. Those higher costs will be offset in 2008 by higher prices. Guidance is in-line with expectations.
Chip maker National Semi lowered revenue guidance for the current quarter, mostly on slower sales to wireless handset manufacturers. Down 5 percent pre-open.
Appleannounced that a new iPhone was available, this one with 16 GB of memory.
ISM moved to 8:55 instead of 10, rumors that the number may have been leaked.
Homebuilders upgraded at Bank of America.
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