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Stock Market & Financial Investment News

News Breaks
March 10, 2014
10:05 EDTMCDMcDonald's February results flattish, says Sterne Agee
Sterne Agee lowered McDonald's estimates following flattish February global same-store-sales results. Shares are Buy rated with a $107 price target.
News For MCD From The Last 14 Days
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January 26, 2016
06:48 EDTMCDMcDonald's price target raised to $135 from $130 at Deutsche Bank
Deutsche Bank analyst Karen Short raised his price target for McDonald's to $135 saying the company's Q4 results show it has regained sales momentum. The current results "are just the beginning of a potentially sustained run," Short tells investors in a post-earnings research note. He continues to recommend the stock with a Buy rating.
January 25, 2016
16:14 EDTMCDOn The Fly: Top stock stories for Monday
Stocks began the session in negative territory and remained there throughout the day. The market has yet to de-couple from oil prices, as stocks continue to move in the direction of the commodity. The averages almost made it back to positive ground in the early afternoon, but with oil down more than 4% the sellers emerged and pushed the market toward session lows. The market continued to lose ground as oil fell further, giving up nearly 6% by the close on the New York Mercantile Exchange, bringing stocks' two day win streak to an end. ECONOMIC EVENTS: In the U.S., the economic calendar was light. The Dallas Fed manufacturing survey, the lone report of note, came in at -34.6, below the revised prior reading of -21.6 and short of the consensus -14.5 forecast. West Texas Intermediate for March delivery fell $1.85, or 5.8%, to close at $30.34 a barrel on the NYMEX. COMPANY NEWS: Shares of McDonald's (MCD) advanced 0.7% to $119.20 after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S... Twitter (TWTR) fell 4.6% to $17.02 after CEO Jack Dorsey confirmed on Sunday night the departure of four company executives, leading research firm Stifel to downgrade the shares... Tyco (TYC) jumped 11.6% to $34.15 after reaching a merger agreement with Johnson Controls (JCI) which will see Johnson shareholders owning 56% of the combined company's equity. Johnson Controls fell 3.9% to $34.21 following the merger announcement. MAJOR MOVERS: Among the notable gainers was Valeant (VRX), which rose 4.55% to $92.63 after hospitalized CEO Michael Pearson said he is "on the road to recovery" after a bout of pneumonia. The news was followed by announcements that Valeant has sold three of its skincare brands and received FDA acceptance of its biologics license application for psoriasis drug Brodalumab. Also higher was SunEdison (SUNE), which advanced 2.6% to $2.72 after the Wall Street Journal reported that the company is set to give David Einhorn's Greenlight Capital a seat on its board. Meanwhile, energy savings firm EnerNOC (ENOC) jumped 69.5% to $7.05 after the Supreme Court ruled in favor of FERC's so-called "demand response" rule, sending energy generators Dynegy (DYN) and Talen Energy (TLN) down a respective 11.6% and 6.2%. Among the noteworthy losers was OncoMed (OMED), which plunged 42.9% to $10.04 after its Phase 2 trial of tarextumab in pancreatic cancer showed futility in an interim analysis. Also lower were containerboard and paper makers KapStone (KS), WestRock (WRK) and Packaging Corp (PKG), which dropped about 21%, 15% and 13%, respectively, after an industry publication reported that prices in the sector had declined. Additionally, Caterpillar (CAT) was the Dow's biggest decliner Monday, sinking 5% to $57.90 after being downgraded to Sell at Goldman Sachs. INDEXES: The Dow fell 208.29, or 1.29%, to 15,885.22, the Nasdaq lost 72.69, or 1.58%, to 4,518.49, and the S&P 500 declined 29.82, or 1.56%, to 1,877.08.
16:00 EDTMCDOptions Update; January 25, 2016
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12:17 EDTMCDOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday as oil prices resumed their slide, giving up some of the surge the commodity saw to close out last week. The stock market, which has been highly correlated with oil lately, continues to be led around by energy prices once again today. ECONOMIC EVENTS: In the U.S., the economic calendar was light with the Dallas Fed manufacturing survey the lone report of note. The survey came in at -34.6, below the revised prior reading of -21.6 and short of the consensus -14.5 forecast. WTI crude oil dropped about 5% to trade near $30.50 per barrel near midday. COMPANY NEWS: Shares of McDonald's (MCD) advanced a bit over 1% after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S. On the other side of the Dow was Caterpillar (CAT), which fell nearly 4% to lead the bluechip index on the down side after its stock was downgraded to Sell at Goldman Sachs... Twitter (TWTR) fell about 4% after CEO Jack Dorsey confirmed on Sunday night the departure of four company executives, leading research firm Stifel to downgrade the shares. MAJOR MOVERS: Among the notable gainers was Tyco (TYC), which rallied 10.8% after it announced that it entered into a definitive merger agreement with Johnson Controls (JCI). Johnson shares fell 2% after the deal announcement. Also higher was Williams Partners (WPZ), which gained 7% after it lowered its estimate of its 2016 growth capital funding needs to $2B, 32% lower than its previous plans. Among the noteworthy losers was OncoMed (OMED), which fell 46% after the company said its Phase 2 ALPINE clinical trial showed futility on an interim analysis. Also lower were KapStone (KS), WestRock (WRK), and Packaging Corp (PKG), which dropped 20%, 13%, and 11%, respectively, after an industry publication reported that prices in the sector had declined. INDEXES: Near midday, the Dow was down 78.00, or 0.48%, to 16,015.51, the Nasdaq was down 23.34, or 0.51%, to 4,567.84, and the S&P 500 was down 11.89, or 0.62%, to 1,895.01.
11:33 EDTMCDMcDonald's sees U.S. commodities down 1%-2% in FY16
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11:25 EDTMCDMcDonald's sees 2016 capital expenditures of about $2B
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11:24 EDTMCDMcDonald's says exploring sale of part of Japan ownership stake
McDonald's says it is in the early stages of the process for potential selling its stake in McDonald's Japan.
11:14 EDTMCDMcDonald's sees opening 250 new stores in China this year
11:08 EDTMCDMcDonald's CEO says all-day breakfast exceeding expectations in launch phase
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09:03 EDTMCDOn The Fly: Pre-market Movers
HIGHER: Tyco (TYC) and Johnson Controls (JCI), up 9% and 1%, respectively, after announcing a definitive merger agreement. Johnson Controls shareholders will own approximately 56% of the equity of the combined company, while current Tyco shareholders will own approximately 44%... SunEdison (SUNE), up 10% after the Wall Street Journal reported that the company is set to give David Einhorn's Greenlight Capital a seat on its board... Affimed Therapeutics (AFMD), up 26% after entering a clinical research collaboration in immuno-oncology with Merck (MRK). UP AFTER EARNINGS: McDonald's (MCD), up 3%... LOWER: Twitter (TWTR), down 5% after its CEO Jack Dorsey confirmed in a tweet last night that several executives are departing the company. Media reports also indicate that, as part of its shake-up, Twitter intends to bring in two new members to its board as soon as this week... OncoMed (OMED), down 38% after an independent data safety monitoring board remarked on several findings regarding futility of the company's Phase 2 ALPINE clinical trial... Medivation (MDVN), down 7% after FDA places investigational new drug application for MDV9300 on partial clinical hold... International Paper (IP), down 4.8%, Packaging Corp. (PKG), down 4.8%, WestRock (WRK), down 6%, after Pulp & Paper Week reduced January kraftliner and corrugated medium prices... Caterpillar (CAT), down 4% after Goldman cuts rating to sell... Regeneron (REGN), down 3% after downgraded at Chardan to sell. DOWN AFTER EARNINGS: Kimberly-Clark (KMB), down 2.5%.
08:10 EDTMCDMcDonald's expects positive top line momentum across all segments in 2016
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08:09 EDTMCDMcDonald's reports foreign currency translation had negative impact of 11c in Q4
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08:04 EDTMCDMcDonald's returned $2.3B to shareholders in Q4
The company returned $2.3 billion to shareholders through share repurchases and dividends in the fourth quarter and $9.4 billion for the full year. This brings the cumulative return to shareholders to $15.8 billion against our targeted return of about $30 billion for the three-year period ending 2016.
08:02 EDTMCDMcDonald's reports Q4 global comparable sales up 5%
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08:01 EDTMCDMcDonald's reports Q4 EPS ex gain $1.28, consensus $1.23
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06:34 EDTMCDMcDonald's to open over 60 locations in Russia in 2016, Reuters reports
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January 22, 2016
14:19 EDTMCDMcDonald's January weekly 118 straddle priced for 4.5% movement into Q4
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14:13 EDTMCDEarnings Watch: Analysts upbeat on McDonald's ahead of Q4 earnings report
McDonald's (MCD) is scheduled to report fourth quarter earnings before the market open on Monday, January 25, with a conference call scheduled for 11:00 am ET. McDonald's franchises and operates fast food restaurants globally. EXPECTATIONS: Analysts are looking for earnings per share of $1.23 on revenue of $6.22B, according to First Call. The consensus range for EPS is $1.14-$1.36 on revenue of $5.98B-$6.45B. LAST QUARTER: McDonald's reported third quarter EPS of $1.40 on revenue of $6.62B, beating analysts' consensus estimates of $1.28 and $6.41B, respectively. The company reported that Q3 global comparable sales were up 4% year-over-year, with U.S. SSS up 0.9%, international lead markets SSS up 4.6% and high growth markets segment SSS up 8.9%. The company forecast positive SSS "in all segments" for Q4. NEWS: At its November 10 investor meeting, McDonald's said that while it has given a REIT structure "serious consideration," it said it would not pursue it "as the risk is too great." Chief Administrative Officer Pete Bensen commented that a "spin-off was closely considered given its potential tax advantages and current market trading multiples. Our review went beyond financial measures and evaluated the impact on all stakeholders, including our shareholders' long-term interests. We have concluded that any potential value creation from a REIT is out-weighed by the significant financial and operational risks to our business and the continued progress of our turnaround." Steve Easterbook, the company's president and chief executive officer, said that the company plans to increase the cash return to shareholders target to about $30B for the three-year period ending 2016. In addition to reaffirming its forecast for positive SSS in all segments in Q4, McDonald's raised its quarterly dividend 5% to 89c per share. For fiscal year 2016, McDonald's forecast systemwide sales growth of 3%-5%, operating income growth of 5%-7% and capital expenditures of $2B, split between opening about 1,000 new restaurants and reinvesting in existing restaurants. In December, the European Commission opened a formal probe into Luxembourg's tax treatment of McDonald's, and said it believed that a tax ruling granted by Luxembourg may have granted McDonald's an advantageous tax treatment in breach of EU State aid rules. STREET RESEARCH: On the day after its last earnings report, McDonald's was upgraded at Piper Jaffray, and its price target was raised at Deutsche Bank and Stephens. Wells Fargo said McDonald's is poised for "sustained momentum." Following its investor day, Piper Jaffray analyst Nicole Miller Regan said she remained a buyer after management reiterated confidence in positive global SSS trends and their current strategies will lead to strong cash flow. Sterne Agee CRT and UBS were also upbeat after the investor meeting. Cleveland Research analyst Steven Gojak said last week that McDonald's U.S. comps finished "strong," adding that the momentum likely continued in early January. On January 19, BTIG analyst Peter Saleh upgraded McDonald's to Buy from Neutral and said he expects its recent trend of recapturing market share to continue. A day later, Nomura analyst Mark Kalinowski raised McDonald's Q4 U.S. SSS forecast to 4.1%, up 60bps, and 160 bps above the consensus estimate of 2.5%. The analyst noted that if McDonald's reports a 4.1% comp, when it reports Q4 earnings, it would mark McDonald's U.S. best quarterly SSS performance in the last 15 quarters. PRICE ACTION: McDonald's has gained about 6.5% over the past three months and is up 0.25% to $118.12 in afternoon trading ahead of Monday's Q4 earnings report.
11:16 EDTMCDMcDonald's technical comments before results
The stock is trading in the middle of a recent trading range defined by a low at $115 and a high near the life high at $120. If the news is bullish, the life high is likely to be tested and possibly exceeded. Upside potential on a breakout based on the range would be to the $125 area. If the news is a negative surprise, the low of the range at $115 could be broken on the downside. Such a move would end the uptrend that began in late September of last year. Supports below $115 would be at $112.91, $109.85, and $105.20.
08:08 EDTMCDMcDonald's volatility elevated into Q4 and outlook
McDonald's January weekly call option implied volatility is at 45, February is at 29; compared to its 52-week range of 15 to 31, suggesting large near term price movement into the expected release of Q4 results on January 25.
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