McDonald’s Falls as Profit Trails Estimates
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McDonald’s Corp. fell the most in nine months after posting second-quarter profit and revenue that trailed analysts’ estimates and saying economic weakness would hurt results for the remainder of the year.
McDonald’s slid 2.7 percent to $97.58 at the close in New York for the biggest drop since Oct. 19. The Oak Brook, Illinois-based company’s shares have gained 11 percent this year, while the Standard & Poor’s 500 Restaurants Index has increased 16 percent.