McDonald’s (NYSE: MCD) gave indigestion to exchange traded funds (ETFs) following consumer-discretionary stocks and the food and beverage sector after the restaurant giant reported quarterly results Thursday.
McDonald’s shares were down 2% in early trading Thursday with investors worried about profit margins and the impact of rising food costs.
“Our dedication to building the McDonald’s business by optimizing our menu, modernizing the restaurant experience and broadening accessibility continues to drive our global performance,” said McDonald’s CEO Jim Skinner in the earnings statement. “Despite the challenges of the current economic environment, I am confident that McDonald’s can continue to grow by listening to our customers.”
McDonald’s is a big holding in consumer-discretionary ETFs. [Consumer Discretionary ETFs on Menu After McDonald’s Results.]