January 26, 2006 |
Pershing Square Capital Management on Wednesday said it had dropped its activist campaign against McDonald's Corp. and threw its support behind the growth plan the fast-food chain outlined Tuesday. The hedge fund, which holds shares and options worth 4.9% of McDonald's, has in recent months pressed the world's largest restaurant chain to spin off a portion of its company-owned restaurant unit and invest more in developing markets.
January 25, 2006 |
Strong momentum at its U.S. restaurants and improved sales in Europe helped McDonald's Corp.'s fourth-quarter income rise 53%, sending the fast-food chain's stock to a 5 1/2 -year high Tuesday. Up next for U.S. customers: three new products that McDonald's hopes will keep sales from slowing. Its spicy chicken sandwich, premium roast coffee and Asian salad are due out by spring. Wall Street continued to endorse McDonald's performance. Shares rose 14 cents to close at $35.85 after climbing to $36.
January 19, 2006 |
McDonald's Corp. on Wednesday rejected a plan put forward by a major shareholder that called for the world's largest fast-food company to restructure, form a new company out of its company-held restaurant unit and sell a 20% stake to the public. McDonald's two months ago rejected a previous plan advocated by the shareholder, hedge fund Pershing Square Capital Management.
October 26, 2005 |
McDonald's Corp. customers will soon know that Big Macs contain almost half their recommended daily fat intake just by looking at the wrapper. In its latest measure to fend off critics that blame the world's largest restaurant company for contributing to a rising incidence of obesity and other health problems, McDonald's said it would start printing nutritional information on packaging.
September 30, 2005 |
McDonald's Corp. said it might stop selling toasted deli sandwiches in the U.S., ending a yearlong grab for Subway Restaurants' customers, because labor and equipment costs made the products unprofitable. The company said it ended a test of the sandwiches, which include $3.99 Italian subs, in Richmond, Va., and was evaluating whether to scale back or end the test in four other cities.
August 26, 2005 |
A Marin County judge has decided that an $8.5-million education campaign by McDonald's Corp. is a fair settlement of lawsuits filed against the fast-food giant for failing to reduce its use of partially hydrogenated oil. In February, McDonald's agreed to pay $7 million to the American Heart Assn. for an education campaign about trans fats in foods. It also agreed to spend $1.5 million publicizing that it had not followed through on its 2002 pledge to switch to a more healthful cooking oil.
July 28, 2005 |
McDonald's Corp. is turning to "Shrek" to lead it to greener pastures in Hollywood. The fast-food giant disclosed Wednesday that it would end its exclusive, decade-long promotional partnership with Walt Disney Co. when it teams with rival DreamWorks Animation SKG Inc. starting in May 2007. First up will be "Shrek 3," with McDonald's promoting DreamWorks' next computer-animated installment about the giant green ogre via Happy Meals and other promotions in its 30,000-plus restaurants worldwide.
July 18, 2005 |
When Ronald McDonald appeared in a new TV ad in June, outfitted in a sporty version of his trademark yellow suit, snowboarding and skateboarding, even juggling fruit, the popular icon for the fast-food giant seemed to be having something of an identity crisis. There were no French fries and no sign of the Hamburglar or Mayor McCheese.
July 16, 2005 |
McDonald's Corp. shares had their biggest gain in nine months after second-quarter profit beat analysts' estimates, spurred by new menu items and longer hours in the United States. Net income fell to about 42 cents a share from 47 cents a year earlier, McDonald's said. But sales at locations open more than a year had their biggest gains since March, rising 3.8% in June and 2.8% in the quarter. Shares of McDonald's rose $1.39 to $30.99.