EDITOR'S NOTE
Popeyes sold out its chicken sandwich and Burger King launched the Impossible Burger. What did McDonald's do last summer? It quietly lost ground to its competition.
The fast-food giant disappointed investors disappointed investors for the first time in two years on Tuesday, missing expectations for earnings and revenue.
McDonald's promotions have focused on price rather than novelty. U.S. sales, which account for more than a third of total revenue, were lower after McDonald's ended its 2 for $5 Mix and Match promotion.
Its sales growth, though short of expectations, is still healthy.
To be sure, more companies are beating Wall Street estimates, than falling short of them. United Technologies and Procter & Gamble both traded higher after issuing their reports. Biogen also beat expectations, but its stock soared on news that it was ready to apply for regulatory approval of its Alzheimer's drug.
Stocks were mixed as investors weighed earnings. Tomorrow, we'll get reports from dozens more companies, including Boeing and Caterpillar, which have both been under pressure, and Microsoft, which has been growing its cloud computing business.
New highs for stocks remain inches away.
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Selasa, 22 Oktober 2019
Boeing division chief out | McDonald's misses | How many more leaving Fisher?
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