Opening Bell Trading Targets: McDonald’s and Pandora
McDonald’s (NYSE:MCD) is out with their April same-store-sales numbers … and investors are not “lovin’ it”. Wall Street expected U.S. comparable store sales of 5 percent, but McDonald’s delivered 3.3 percent growth. Worldwide sales gains matched the 3.3 percent sales in the U.S., but analyst consensus was for 4 percent.
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Volume in MCD shares will be high at the open. Get your trading setups ready for a wild first half hour. McDonald’s has been one of the best performing stocks since the Great Crash of 2008, so today’s news should offer investors an excuse to take profits.
Pandora Media (NYSE:P) April audience metrics state Listener hours for Pandora during the month of April 2012 were 1.06 billion, an increase of 87% from 566 million during the same period last year. Share of total U.S. radio listening for Pandora in April 2012 was 5.95%, an increase from 3.11% at the same time last year.
Traders like Pandora stock, and today’s headline will help drive volume for active trading. The stock has been beaten down, so this could create a nice wave of short covering.