Market Currents by

Real-time news and commentary for investors

• 1:38 PM   McDonald's ([[MCD]] -0.5%) won't have to be a profit-making company and the surrogate parents for millions of kids after all, as a shareholder resolution to assess the effects of products and marketing on children's health fails to land more than 6.4% of the votes at the company's annual meeting. Execs did say that new healthier choices for Happy Meals could be part of Mickey D's menu in the future. Post your comment!
• 1:33 PM   Facebook ([[FB]] +1.1%) is set to unveil a standalone photo-sharing app called Facebook Camera. The product of Facebook's photos team, the app doesn't feature any Instagram integration (the acquisition is still being reviewed by the FTC), but it does borrow heavily from the startup, and drives home the extent to which Facebook saw it as a direct rival. Facebook's mobile use is soaring, though this brings with it some monetization challenges. Post your comment!
• 1:27 PM   Could things get any more harried with trading on Sirius XM Radio ([[SIRI]] -0.5%)? While entrenched analysts argue that the stock is range bound at $2 and options activity gets frenzied, Liberty Media still circles about trying to gain control and CEO Mel Karmazin interestingly proclaims "our stock sucks." Just to add a little icing to the cake, the company wants to trade under a new symbol - SXM - to better reflect the combined company. Post your comment!
• 1:26 PM   Treasurys dip a little further in the middle of the curve after the seven-year note auction came at a record low yield. The 30-year yield +0.03 to 2.86%; 10-year +0.02 to 1.77%; five-year +0.03 to 0.775%. Post your comment!
• 1:23 PM   Airbus (EADSF.PK) scraps a plan to increase A320 production to 44 a month from 40 currently and will instead settle for 42 . The airplane maker cited worries about the world economy - which has not seemed to affect the commercial jet sector too much until now - the ability of carriers to fund aircraft acquisitions, and the capacity of parts providers. Post your comment!
• 1:17 PM   While the case can be made for additional accommodation, says FRBNY chief Dudley in a speech, the costs at this point are likely to exceed the benefits. He stands ready to change his mind towards more ease should things slow down, but would also consider tightening policy earlier than expected if growth gets stronger. (earlier on CNBC) Post your comment!
• 1:15 PM   Sigma Designs ([[SIGM]] +6.8%) posts a healthy gain after beating FQ1 estimates and guiding on its earnings call for FQ2 revenue of $61M-$67M - boosted by the acquisition of bankrupt Trident's HDTV chip business, and thus not comparable to estimates. The chipmaker says it's seeing strong traction for its home streaming and IPTV processing chips. It adds it has cut the Trident unit's staff by 1/3 since the acquisition. Post your comment!
• 1:10 PM   Biogen ([[BIIB]] +0.3%) hovers in the green on positive comments out of BMO Capital this morning. The firm believe the stock is poised to move higher due to several upcoming catalysts, including the company's R&D day on June 12 and two upcoming data releases. The firm expects the stock to make a move towards $145 over the near term. Post your comment!
• 1:07 PM   Having last week closed a deal to buy 63 local newspapers from Media General for $142M, Warren Buffett has told Berkshire Hathaway's (BRK.A) editors and publishers that the company "will probably purchase more papers in the next few years," focusing on "towns and cities with a strong sense of community." 3 comments!
• 1:04 PM   The Treasury sells $29B in seven-year notes at a record-low 1.203%. Bid-to-cover ratio of 2.8, vs. a recent average of 2.58; indirect bidders take 42.7%, vs. a recent 38.7%. Direct bidders take 15.7%, vs. a recent 15.5%. 1 comment!