Stock Market News: McDonald's Serves Up a Shortfall; Procter & Gamble Shines
The stock market saw early gains on Tuesday morning, but the mood on Wall Street was generally mixed. Earnings season continued to draw most of the headlines, and although investors have been pleased with the overall performance of companies announcing results thus far, some reports haven't been as good as others. As of 11:20 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 47 points to 26,875. The S&P 500 (SNPINDEX: ^GSPC) climbed 4 points to 3,011, but the Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 10 points to 8,153.
Two major Dow components weighed in with their latest financial results, and they provided two very different reads on how things are going. McDonald's (NYSE: MCD) left a bad taste in some shareholders' mouths, with earnings falling short of what many had expected. However, Procter & Gamble (NYSE: PG) had better success in keeping investors happy, with key parts of its business contributing to its overall growth.
Shares of McDonald's sank 3% after the fast-food giant reported its third-quarter financial results. Although top-line performance looked solid on its face, the company couldn't satisfy investors entirely with its overall numbers.
Source Fool.com