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Bloomberg Intelligence
McDonalds Sales Fall, US Tech Earnings
Oct 29, 2024
Michael Halen, a senior analyst at Bloomberg Intelligence, dissects McDonald's recent sales challenges, including an E. coli outbreak and competition pressures. Gene Munster shares insights on U.S. tech earnings, detailing the impact of AI on giants like Google. Neil Grossman offers a market outlook influenced by the upcoming elections, while Ellen Wald discusses how geopolitical factors are affecting global oil prices. Their conversations reveal dynamic strategies within the food and tech sectors, providing a roadmap for investors navigating current economic terrain.
46:43
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Quick takeaways
- McDonald's reported mixed earnings due to an E. coli outbreak but managed mid-single-digit same-store sales growth through targeted promotions.
- Consumer confidence is waning for low-income groups, leading to increased demand for value-driven offers from fast food chains like McDonald's.
Deep dives
McDonald's Earnings Insights
Recent earnings from McDonald's indicate mixed results amid challenges such as an E. coli outbreak. Despite reporting a mid-single-digit increase in same-store sales and positive traffic buoyed by new promotions like the $5 meal deal and the Chicken Big Mac, international weakness is evident. Analysts noted that the forthcoming quarter could see declines in same-store sales as concerns from the outbreak lingered, with Bloomberg's data showing a 9% drop in sales last week. The company is working on initiatives to regain customer confidence and drive traffic back to its locations.
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Discover
highlights
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