3 Stocks Investors are Swapping Now: McDonald’s, Texas Instruments and Bank of America
McDonald’s (NYSE:MCD) global sales rose a healthy 3.5% in August. The fast-food giant said U.S. sales increased 3.9%, European sales improved 2.7%, while sales in the Asia/Pacific, Middle East and Africa region fell 0.3%. Despite decent numbers, McDonald’s stock is down 2.8%.
Texas Instruments (NYSE:TXN) said it now foresees quarterly revenue in a lower range between $3.23 billion and $3.37 billion. The chip maker formerly anticipated revenues between $3.40 billion and $3.70 billion. Texas Instruments’ stock is down 0.8%.
Bank of America (NYSE:BAC) is reportedly considering a cut of 40,000 jobs, according to The Wall Street Journal. The news comes one day after Bank of America CEO Brian Moynihan plans to split the company’s banking operations in two, separating consumer from commercial units, closing 600 branches in the process as part of his “Project New BAC” program to streamline operations and cut expenses.