McDonald's Disappoints, But This Tiny Fast Food Stock Is Soaring 📈

July 29, 2024 | [Read Online]( McDonald's Disappoints, But This Tiny Fast Food Stock Is Soaring 📈 [fb]( [fb]( [fb]( [fb](mailto:?subject=Post%20from%20Elite%20Trade%20Club&body=McDonald%27s%20Disappoints%2C%20But%20This%20Tiny%20Fast%20Food%20Stock%20Is%20Soaring%20%F0%9F%93%88%3A%20%0A%0Ahttps%3A%2F%2Felitetrade.club%2Fp%2Fmcdonalds-disappoints-tiny-fast-food-stock-soaring) Presented By Good morning. Today is July 29th, and we will be looking at how Trump’s newfound love for cryptocurrency is pushing Bitcoin up, along with Abbott’s baby formula woes and McDonald’s disappointing results. We’ll also uncover a fast food stock that has been skyrocketing since Friday. Previous Close 📈 The week begins on a strong note with all three indices in the green in anticipation of a bunch of major earnings reports this week. Futures Futures are also trading in the positive zone today, with those tied to the Dow Jones Index nearly 1.48% in the green. What to Watch McDonald's, ON Semiconductor, Loews, Revvity, and CNA Financial will release their quarterly results before the day’s trading begins. Welltower, Hologic, Woodward, and SBA Communications will also share their earnings reports after market closure. Pharmaceuticals Abbott Shares Drop Nearly 7% After $495 Million Verdict Abbott Laboratories' shares fell nearly 7% in premarket trading on Monday after a jury ordered the company to pay $495 million in damages over its formula for premature infants. British peer Reckitt Benckiser also saw its shares slump 9% following the verdict. The jury found that Abbott’s specialized formula caused an Illinois infant to develop a severe bowel disease. Abbott plans to appeal the decision. This ruling is one of nearly 1,000 lawsuits filed against Abbott and Reckitt in U.S. courts, alleging that their formulas increased the risk of a deadly disease compared to breast milk or donor milk. J.P. Morgan analysts noted the verdict exceeded investor expectations, which ranged from $60 to $100 million, and may negatively impact market sentiment until a resolution is reached. Both companies have denied the claims, emphasizing that the scientific evidence and healthcare professional opinions were not fully considered. Reckitt's shares hit their lowest point since January 2013, dropping 9.2% to £40.75, while Abbott's shares fell to $98.15. [Join Members From Leading Firms to Access Niche Private Market Investments]( 10 East is a co-investment platform where sophisticated investors access private markets alongside a veteran team with a decade-plus track record of strong performance. Members can participate on a deal-by-deal basis - benefiting from institutional resources, sourcing, vetting, and ongoing monitoring. [Inquire at 10east.co]( Cryptocurrency Bitcoin Heads Towards $70,000 Mark After Trump Supports Crypto at Industry's Largest Gathering In a significant shift, former President Donald Trump addressed the cryptocurrency industry's largest annual conference in Nashville despite previously criticizing Bitcoin. As president, Trump dismissed Bitcoin as "not money" and claimed it facilitated illegal activities. However, during his current presidential campaign, he has embraced the crypto sector, even accepting Bitcoin donations, which have amounted to approximately $4 million. Trump's recent stance includes criticizing the Biden administration's regulatory efforts, which he describes as a "war on crypto," and promising to support cryptocurrency mining in the U.S. This pivot has garnered support from crypto industry leaders and investors, who have donated millions to his campaign. At the conference, Trump made several pro-crypto policy commitments, including firing SEC Chair Gary Gensler and creating a national Bitcoin stockpile. The crypto community, despite past skepticism, has shown increasing support for Trump, aligning with his promise to foster the industry's growth in the U.S. Fast Food McDonald's Q2 Sales and Profit Drop Amid Consumer Belt-Tightening McDonald's reported a 1% decline in same-store sales for the second quarter, marking the first drop since late 2020 when the pandemic caused widespread closures. The decline was observed across all company segments, with consumers in the U.S. and China making fewer visits to restaurants due to increasing cost concerns. The fast-food chain introduced a $5 meal deal in the U.S. on June 25 to address affordability issues, but it came late in the reporting period. Quarterly revenue remained flat at $6.5 billion, slightly below the $6.6 billion anticipated by analysts. McDonald's net income fell 12% to $2 billion, or $2.80 per share, missing the expected $3.07 per share. The company had previously warned that inflation-weary customers were seeking better value, impacting overall sales performance. Movers and Shakers Cognition Therapeutics [CGTX] - Last Close: $2.37 Cognition Therapeutics’ shares are up by nearly 50% in pre-market trading. This surge is in anticipation of the company hosting an investor webcast today regarding “the clinical efficacy, safety, and biomarker findings from the Phase 2 COG0201 ‘SHINE’ study.” This study was related to the treatment of patients with Alzheimer’s. My Take: This is a very tiny biotech stock but has good potential. However, expect volatility if you enter it on the rise. Lipella Pharmaceuticals [LIPO] - Last Close: $0.40 Lipella Pharmaceuticals is surging in pre-market trade. The company announced that it had enrolled the first patients in its multi-center Phase 2a clinical trial evaluating LP-310 for the treatment of Oral Lichen Planus (OLP). Lipella is pushing for a proprietary variant of LP-10, its lead candidate for hemorrhagic cystitis, as a treatment for the disease. The stock is trading nearly 80% higher than its previous close. My Take: Lipella is another tiny biotech stock with a poor history. It might be best to wait and watch the current rally. BurgerFi International [BFI] - Last Close: $0.42 BurgerFi International, the owner of Anthony’s Pizza and BurgerFi brands, is seeing its stock price rise again today. Momentum is continuing after it closed up 97% on Friday. The stock has been rising since the company announced that it had reached a legal settlement agreement with Lion Point Capital. BurgerFi agreed to pay $1.35 million and issue Lion Point 300,000 shares of preferred stock. My Take: BurgerFi might see further gains during the day after this news, so I’d keep an eye on this one. Everything Else - [Philips]( shares surge after strong Q2 earnings despite decline in Chinese sales. - [Heineken]( shares drop 7% after missing profit expectations. - The [Fed]( is expected to maintain rates amid a final inflation battle. - Global demand worries keep [oil prices]( near a six-week low. - Authorities investigate the [sabotage of fiber optic]( networks in France during the Olympics. - [Alibaba's]( new service fee policy lifts shares amid a revenue boost. That’s all for today. Thank you for reading. If you have any feedback, please reply to this email. Best Regards, — Adam Garcia Elite Trade Club [Click here]( to get our daily newsletter straight to your cell for free. P.S. Just like this newsletter, it's 100% free*, and you can stop at any time by replying STOP. [tw]( [ig]( [yt]( [tk]( *Standard message/carrier rates may apply. 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