McDonald's Earnings Report

The market is getting a nice lift this morning. McDonald’s (MCD) reported strong earnings of 87 cents a share which was four cents better than consensus. The only weak spot was that sales were a bit below what the Street wanted to see so the shares have pulled back slightly. This is simply some near-term profit-taking. The important news is that MCD had a good quarter in face of many economic challenges. I’m also happy to see that the company is planning to invest $2.1 billion of its own money to open 1,000 new restaurants. That’s the kind of bold actions I like to see. McDonald’s is a strong buy.

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