Morgan Stanley’s business was hit particularly hard in the third quarter by turbulence in the global markets, sending the bank’s earnings down 42 percent, well short of analysts’ estimates.
McDonald’s sales edged up 0.9 percent at established U.S. locations during the third quarter, snapping a streak of about two years of quarterly declines. The fast food giant also said sales rose 4 percent on a global basis at established locations. The bump in U.S. sales was the result of a higher average check, which offset a decline in traffic.
General Motors said strong lighttruck sales in the United States and stable operations in China produced a record $3.1 billion in adjusted earnings before interest and taxes. In the quarter, GM took a charge of $1.5 billion related to its ignition-switch recall.
Under Armour reported its first $1 billion-plus quarter in sales, posting $1.2 billion in revenue and profits of $100.5 million, or 45 cents a share.