Markets Down With China ( FDX, DG, CAG, MCD, WLK, EDMC, DNKN ))

China Takes Global Markets Lower (FDX, DG, CAG, MCD, WLK, EDMC, DNKN)

U.S. opened sharply lower on Thursday in the wake of continuous concern over china, where data revealed that manufacturing sector activity shrank in March for a fifth successive.
The HSBC flash purchasing managers index showed China's manufacturing sector activity shrank in March for a fifth successive month while the March Markit's Eurozone Composite PMI showed further contraction, led by a decline in French and German factory activity.

In the local news, the government reported claims for unemployment declined by 5,000 last week to a fresh four-year low of 348,000. The Dow Jones Industrial Average fell 94 points at 13,030. Those for the S&P 500 slumped 13 points to 1,390. Those for the Nasdaq declined 21 points to 2,754. FedEx Corporation(NYSE:FDX) is the biggest loser on S&P 500 after the company despite beating analysts’ estimates for its fiscal third quarter. The company earned $1.55 on an adjusted basis on revenue of $10.56 billion. For the current quarter, the company projects to earn between $1.75 and $2 a share, compared to analysts’ estimates of $1.98 a share.
Dollar General Corp.(NYSE:DG) shares jumped over 3% after reporting solid fourth quarter earnings and said that it earned $292.5 million, or 85 cents a share. On an adjusted basis, the company earned 87 cents  a share on revenue of $4.19 billion, ahead of analysts’ estimates of 82 cents a share on revenue of $4.11 billion.
ConAgra Foods, Inc.(NYSE:CAG) slid over 1% after reporting third quarter profit of 51 cents a share on revenue of $3.37 billion, compared to analysts’ estimates of 49 cents a share on revenue of $3.35 billion.
McDonald's Corporation(NYSE:MCD) fell less than 15 after the world's biggest hamburger chain said Chief Executive Jim Skinner is retiring after more than seven years at the helm.
Westlake Chemical Corporation(NYSE:WLK) plunged 4.52% after saying that one of its plants in Louisiana is on fire due to a possible explosion. There are no reported injuries, and fire has apparently been contained.
Education Management Corp(NASDAQ:EDMC) jumped over 1% after analyst at Morgan Stanley upgraded the stock to Equal Weight from Underweight on a valuation call.
Dunkin Brands Group Inc(NASDAQ:DNKN) fell about 0.50% after it announces that it will expand its footprint in Mexico to a large degree with a plan to add 25 new stores this year and another 50 over the next couple. Cancun and Mexico City will see the first two stores.