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The Market Wrap for July 10: China Powers Stocks
The Market Wrap for July 10: China Powers Stocks
Before Monday’s opening bell, fast food giant McDonald’s (MCD ) announced that its global comparable store sales dropped 1.8%, compared to analysts’ estimates of a 1.2% drop.
For the U.S. region, the company saw a 0.4% increase in comparable sales, as its strong breakfast sales partially offset its increased competition.
Sales in Europe jumped 0.5%, due to strong sales in the U.K. and Germany. The region saw weak sales in France and Russia.
Sales in the Asia Pacific, Middle East and Africa region plummeted 12.6% due to issues in Japan and the timing of the Chinese New Year.
Stock Performance
Shares of MCD were down 74 cents, or 0.79%, during pre-market trading Monday. Shares have been flat YTD.
The Bottom Line
McDonald’s (MCD ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
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