McDonald’s Corporation (NYSE:MCD) is up 6.50% in pre-market trading to $109.20 after the company posted earnings this morning that beat expectations, giving investors hope that the fast-food chain’s long turnaround campaign is working. The golden arches posted earnings of $1.40, ahead of estimates of $1.27 and up from earnings of $1.09 in the same quarter a year prior. Likewise, the company impressed with quarterly revenue of $6.62 billion, above estimates of $6.41 billion though down from $6.99 billion year-over-year. Investors were also pleased to hear that global same store sales increased 4%, well above the consensus of 1.9%, indicating that consumers have gotten over the horse meat scandal that plagued the company in China last year. As of this writing, according to the 6 analysts on TipRanks who have rated McDonald’s in the last 3 months, 5 are bullish on the company and 1 is neutral. The average 12-month price target is $113.80, marking an 11% potential upside from where shares last closed.
Freeport-McMoRan Inc (NYSE:FCX) is down 2.09% in pre-market trading down to $11.70 after the oil and mining company posted a loss in quarterly earnings this morning. The company posted a loss of $3.83 billion for the quarter; a long way down from the positive profit it posted in the same quarter of last year. Revenue of $3.68 billion fell short of analysts’ estimates of $4.09 billion. The company also said it would cut copper output, as well as cutting its operating rates at one of its Arizona mine, leaving the possibility of shutting it down completely. Many to point to Carl Icahn as responsible for these changes, since he has been putting pressure on the company to cut spending. Since Icahn last reported his holdings in September, he owns 8.8% of the company. As of this writing, 8 analysts on TipRanks have rated the stock in the last 3 months, of which 5 are bullish and 3 are neutral. The average 12-month price target for the stock is $15.83, marking a 32$ potential upside from where shares last closed.
Cempra Inc (NASDAQ:CEMP) is down 5.81% in pre-market trading to $16.05 after the company reported a third quarter loss of $27.6 million this morning. The biopharmaceutical company posted a loss of ($0.63) per share, well below the analyst consensus of ($0.52). The company posted revenue of $2.5 million, missing the consensus of $5.6 million by a long shot. As of this writing, according to the 6 analysts polled by TipRanks in the last 3 months, 5 are bullish on the company and 1 is staying on the sidelines. The average 12-month price target for the company is $40, marking a 127% potential upside from where shares last closed.
Can Fite Biopharma Ltd (ADR) (NYSEMKT:CANF) soared 14.93% in pre-market trading up to $4.08 after the biotechnology company reported new findings on CF602. The drug candidate was found to demonstrate actions to improve sexual dysfunction as tested in rats. The drug achieved an effect similar to Viagra, which generated sales over $1.6 billion in 2014. The company plans to file an Investigational New Drug application with the FDA in the third quarter of 2016. According to TipRanks, only one analyst has weighed in on the company in the last 3 months with a bullish rating and a $4 price target.