McDonald's, Wendy's Drop as BofAML Sees Threat From Chick-Fil-A
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McDonald’s Corp. and Wendy’s Co. are among the worst performers in the S&P 1500 Restaurant Index after Bank of America Merrill Lynch warned clients that Chick-fil-A has increased competitive pressures in the fast-food space.
McDonald’s shares are down as much as 2.8%, their biggest intraday drop since March 4. Wendy’s fell as much as 2.9%, its biggest decline since May 9.