|Bid||158.5400 x 300|
|Ask||158.5500 x 100|
|Day's Range||157.5400 - 158.6400|
|52 Week Range||110.3300 - 159.9800|
|PE Ratio (TTM)||27.96|
|Dividend & Yield||3.76 (2.38%)|
|1y Target Est||N/A|
McDonald's said it felt 'compelled' to take the aggressive action.
Fast food chain McDonald's (MCD.N) said on Monday it planned to shut all 169 of its restaurants in India's northern and eastern regions, escalating a dispute with its local partner and potentially putting thousands of workers out of jobs. The U.S. company said it was "compelled" to take the action because its partner Connaught Plaza Restaurants Pvt Ltd (CPRL) had breached the terms of their franchise agreements. Vikram Bakshi, managing director of CPRL, told Reuters the decision came as a "big shock" and the company was studying all its legal options.
While Wall Street had almost forgotten about CMG’s two-year-old health disaster headlines, new ones have recently resurfaced with new sickness incidents. In addition, McDonald’s Corporation (NYSE:MCD) has emerged as the new favorite on Wall Street. The tide is against CMG stock, and they need a miracle to resurface as a star.