Mcdonald’s is definitely not “Lovin It” after their stocks plunged in the worst single-day hit since 2009. , with a decline of 4.47 percent Tuesday, after same-store sales growth disappointed. Quarterly earnings of $1.45 a share, ex-items, did beat expectations.
Excerpt From CNBC:
“It’s McDonald’s that’s weighing on the stocks,” said Robert Pavlik, chief market strategist at Boston Private Wealth, whose clients own the stock. “I wasn’t thrilled with the earnings report,” he said. “I do believe it has long-term potential.” The stock had the greatest negative impact on the Dow Jones industrial average, which closed mildly lower while the two other major indexes ended higher. Industrials and materials led advancers in the S&P 500, while Caterpillar and United Technologies had the greatest positive impact on the Dow.