Dow Jones News: McDonald's Testing Chick-fil-A Competitor; Walmart Off to a Strong Start
Unexpectedly weak manufacturing data and tariff threats from President Trump roiled the stock market on Monday, sending the Dow Jones Industrial Average (DJINDICES: ^DJI) down 0.72% by 1:50 p.m. EST.
Shares of McDonald's (NYSE: MCD) managed to buck the trend, moving slightly higher amid news that the fast-food chain is testing a direct competitor to Chick-fil-A's popular chicken sandwich. Walmart (NYSE: WMT) stock was down along with the market, despite positive data on the retailer's early holiday sales performance.
Privately held fast food chain Chick-fil-A became the third-largest restaurant chain in the U.S. earlier this year in terms of system sales. Both McDonald's and Starbucks easily beat out the chicken chain, but Chick-fil-A is growing quickly. System sales totaled about $10.5 billion last year, up 17%. Each location averaged $4.6 million in annual sales.
Source Fool.com
