Dow Jones News: McDonald's Dumps Its CEO; Verizon's Pricing Power Questioned
The Dow Jones Industrial Average (DJINDICES: ^DJI) carved out a new all-time high on Monday, buoyed by optimism that the first phase of a U.S.-China trade deal would be signed this month. The Dow was up 0.35% at 12:40 p.m. EST.
Bad news for McDonald's (NYSE: MCD) and Verizon (NYSE: VZ) prevented both blue chip stocks from participating in the rally. Shares of McDonald's slumped after the CEO was unexpectedly fired, and Verizon stock was lower after an analyst questioned the company's pricing power.
Bad news keeps piling up for fast-food giant McDonald's. The stock has been dropping ever since the company reported somewhat disappointing third-quarter results last month. That decline was extended on Monday after a surprise leadership change was announced over the weekend. Shares of McDonald's were 3% lower on Monday, and they're now down about 15% since peaking in August.
Source Fool.com
