Good news for McDonalds (MCD) today. The company reported third quarter of $1.26 billion, or $1.15 per share. That compares with a year-ago profit of $1.19 billion, or $1.05 per share. This is a pretty good earnings report. The consensus on Wall Street was for earnings of $1.11 a share.
The stock is up today which helps the overall psychology of the market since MCD is a component of the Dow-30. This also shows that consumers have been willing to spend money, but only if they can get a bargain.
I used to recommend McDonald’s in Blue Chip Growth, but we sold it over the summer for a nice profit. The stock has been pretty choppy ever since, but it there are more reports like today’s, I may have to upgrade McDonald’s to a buy.