Results that came in significantly below expectations. Sabmiller rejects inbevs takeover offer saying the 42. 15 number is still below what they want. First up, yum brands will take a hit in the premarket. The home of kfc, pizza hut and taco bell missed with Third Quarter results. Greg creed says the pace of recovery in yums China Division is below expectations. In q3, we were looking for a 9. 6 number. They used the words unexpected headwinds, despite everything we know about what is going on there. Lets understand i know david tweeted what does this say about china growth. I say what does this mean about execution . Nike is selling a lot of shoes there. Starbucks has had a fantastic run. Apple is selling well. Samsung, verification of that. Samsungs business strong with apple. This is inexplicable. I think people are tired of it people are tired of the breakup story, the sum of the parts, when will it happen . You dont break a company up when the business is bad, because we just get
Industrial production. Michigan sentiments at the top of the hour. Theres a look at crude back about 47. Our roadmap begins with ge beating the street on earnings, but what about nelson peltz . Companies such as yung, wyn. Alibaba making a multibillion dollar play for china. General electric up 29 cents a share in the Third Quarter held by demand for jet engines and power turbines. Ceo jeff emmeltz said ge performed well. Oil and gas revenues down 16. Power and water up 1, aviation up 5. I like the quarter. Plain and simple. When i see 4 organic growth, thats going to be among the highest of the Big Industrial companies. Its been the best performing industrial so far this year. I think jeff immelt, the transformation is truly happening and it is real. This is obviously Conference Call, we have the date, we have our reports here. I mentioned that because the Goldman Sachs hadnt been on that and the stock jumped 7 points after we talked about it on squawk. Important to mention. Things ha
Travellers, withdrew nighted technologies and verizon among many other major companies. As for the economy, one important report of note. September Housing Starts and Building Permits out at 8 30 eastern time. Okay. We have a couple of stories were watching this morning. Apple ceo tim cook making a couple of headlines at a Big Technology conference in california. The tech giants new Music Streaming Service has reached more than 6. 5 million paid users. Another 8. 5 million are participating on the free trial. Are you still free trial. I dont know. I dont know if its been three months or not. Maybe not. My son downloaded 59 songs and three albums. And its good. Its alternative but its good. I got all new stuff to listen to. My music life is good. Changed. Its good. Its more robust. Thats for sure. But millennials like spotify. Thats what i hear. Im still on spotify. But youre a millennial wannabe. I just got there first. Cook suggested orders for a fourth generation apple tv would be ne
Ibm shares as carl said moving in the opposite direction at least eight firms cut their price targets on the stock, this after disappointing sales and guidance. Tim cook optimistic about apple music and its more than 6. 5 million paid users. First up, yum brands announcing plans to split into two publicly traded brands, yum brands in china. Them focus on expanding those chains around the world. That separation expected to be completed by the end of next year and continues this trend of Companies Like alcoa, ge trying to spin, sell off, divide into two. Yeah, i mean, my problem here is that i dont like when this is happening, its happening at a time when there still isnt any stabilization in kfc. Taco bell might be added to china. They dont have taco bell in china, but it could be introduced over time, yes. New ceo, members from taco bell. The new ceo of china or yum overall . Yes, the new ceo for china, he has a good reputation. Look, i think that this is something that weve wanted. I
The last day its members work on a daytoday contract. A clear sign that talks to reach a new labor deal have broken down. Phil lebeau has more on the main sticking points and what a strike could mean for Fiat Chrysler. Reporter for the first time in eight years, the uaw is ready to strike a big three auto plant. The union has told Fiat Chrysler its members will walk off the job starting thursday morning unless something changes in the stalled talks to get a new labor contract. Fiat chrysler and the uaw are not close to reach agagreement. Just last week, twothirds of the Union Members rejected a tentative contract. Partially because there is still a sizable wage gap between lower paid tier 2 workers hired in the last six years and those higher paid workers who have been at chrysler far longer. The autoworkers feel they should get more money because Fiat Chrysler is rolling up sizable profits, thanks to strong sales of jeep suvs and ram pickups. While Fiat Chrysler is no longer on the ve