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Squawk on the Street
McDonald’s Slides on E. Coli Outbreak, Starbucks Slumps, Boeing CEO Exclusive 10/23/24
Oct 23, 2024
Kelly Ortberg, the CEO of Boeing and a veteran in the aerospace industry, joins the discussion to share insights on his plans for a company turnaround amidst financial losses and union negotiations. The hosts delve into the alarming E. coli outbreak linked to McDonald's Quarter Pounders, exploring its impact on consumer trust and stock performance. They also cover Starbucks’ disappointing fiscal outlook, the challenges facing the aerospace sector, and the broader implications of labor dynamics and production hurdles at Boeing.
49:44
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Quick takeaways
- McDonald’s stock plummeted due to an E. coli outbreak linked to their Quarter Pounder, raising concerns about food safety and public perception.
- Boeing faces a challenging path to recovery after reporting a $6 billion Q3 loss, highlighting the need for cultural shifts and operational improvements.
Deep dives
Impact of McDonald's E. Coli Outbreak on Stock Performance
An E. coli outbreak linked to McDonald's quarter pounders has created significant concern, resulting in a stock decline for the fast-food giant. The CDC reported that the outbreak has led to one death and hospitalized several others across ten states. In response, McDonald's quickly removed the quarter pounder from the menu, asserting their commitment to food safety. Analysts are cautious, with some downgrading the stock amidst the uncertainty of public perception and potential long-term sales impact.
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Listen to the best highlights from the podcasts you love and dive into the full episode