McDonald's Rises, Snap Falls, Lucid Drops on Production Outlook
On this episode of Stock Movers:
- McDonald's (MCD) shares rise after sales picked up in the latest quarter, suggesting that pop culture-focused collaborations and budget meals are helping to offset diners’ economic anxiety. Global sales at restaurants open at least 13 months rose 3.8% in the second quarter, the company said Wednesday.
- Snap (SNAP) shares fall. The company's ad revenue growth rate slowed to 3% to 4% from 9% in the first quarter, and revenue in the June quarter was affected by an update that allowed marketers to buy ads at reduced prices.
- Lucid (LCID) shares drop after the electric-vehicle maker lowered its production forecast for the full year and the company’s second-quarter results were worse than expectations. The company now expects to produce between 18,000 and 20,000 EVs in 2025, down at the midpoint from its earlier forecast for 20,000 vehicles, Lucid said.
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