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Jim Cramer: McDonald's Results 'Blew Me Away' But Not in a Good Way


The major U.S. markets moved higher at midday on Tuesday powered by positive economic data and a flood of big names reporting earnings. On the economic front, consumer prices gained in June, mainly due to higher gas prices. Existing home sales rose for a third straight month in June. Homebuilder stocks like Toll Brothers (TOL), Lennar (LEN) and D.R. Horton (DHI) are all trading higher following the release of the housing sales data. A slew of companies reported results before the opening bell including results from Chipotle Mexican Grill (CMG) that far exceeded Wall Street's expectations. Shares of Chipotle are being generously rewarded in Tuesday's session, gaining 10%. McDonald's (MCD) shares are adding to their decline after reporting earnings that missed estimates. Jim Cramer says the numbers surprised him and he isn't a fan of the stock. After the bell, investors are waiting for Apple (APPL) and Microsoft (MSFT) to report. TheStreet's Susannah Lee reports from Wall Street.