Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, August 2, 2024

Article Excerpt

MCDONALD’S CORP., $276.69, New York symbol MCD, is your #1 Conservative Buy for 2024. The company is the world’s largest fast-food chain with over 42,000 restaurants in 119 countries. It serves a wide variety of food but is best known for its hamburgers and french fries. McDonald’s has increased its selling prices in response to rising labour and other operating costs. However, the higher prices are hurting traffic and sales at its U.S. outlets. The conflict in the Middle East and China’s slowing economy are also hurting sales at its international locations. As a result, McDonald’s revenue in the quarter ended June 30, 2024, fell 0.1%, to $6.49 billion from $6.50 billion a year earlier. That missed the consensus forecast of $6.61 billion. Overall same-store sales fell 1.0% on declines at the U.S. division, down 0.7%; International Operated Markets (Australia, Canada, France, Germany, Italy, the Netherlands, Spain and the U.K.), down 1.3%; and the International Developmental Licensed Markets division (mainly outlets in China, Japan, the…