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VANCOUVER, April 23- The Canadian unit of McDonald's Corp has suspended all of its applications under the country's temporary foreign worker program as its undergoes a third-party audit on its use, the restaurant chain said on Wednesday.
NEW YORK— Ronald McDonald has a new look, and he's ready for a selfie. McDonald's said Wednesday its famous spokesclown will take an active role on social media for the first time, using the hashtag# ronaldmcdonald. The company says Ronald McDonald won't have his own Twitter handle, but that it will post photos and videos of him on its existing social media accounts.
Brinker International Inc. fell $1.64 or 3.2 percent, to $50.03. Chipotle Mexican Grill Inc. fell $8.93 or 1.7 percent, to $503.74. Darden Restaurants Inc. rose$. 51 or 1.0 percent, to $50.38.
Brinker International Inc. fell $2.09 or 4.0 percent, to $49.58. Chipotle Mexican Grill Inc. fell $6.15 or 1.2 percent, to $506.52. Darden Restaurants Inc. rose$. 63 or 1.3 percent, to $50.50.
KFC parent Yum Brands on Tuesday said first-quarter sales at established restaurants in China, its top market, rose 9 percent.
Some of the biggest names in Corporate America, including Coca-Cola Co, General Motors Co, United Technologies Corp and McDonald's Corp all in the past week reported strong results from their China operations.
NEW YORK— Yum Brands reported a higher-than-expected profit for its first quarter highlighted by a rebound in KFC sales in China, where concerns about the safety of the chain's chicken supply eased. The company, which also owns Taco Bell and Pizza Hut, said Tuesday that sales at established locations in China rose 9 percent for the period.
April 22- KFC parent Yum Brands Inc on Tuesday said first-quarter sales at established restaurants in China, its top market, rose 9 percent, roughly in line with expectations, as it recovers from an avian flu outbreak and a food safety scare last year that pummeled demand for chicken.
*Netflix up after results; Facebook gains on upgrade. Netflix Inc surged 7 percent to $372.90 a day after showing strong subscriber growth, a sign the trading favorite still had room to grow despite recent concerns over its valuation.
The Treasury auctioned $32 billion in two-year notes at a high yield of 0.447 percent. The bid-to-cover ratio, an indicator of demand, was 3.35.
*Netflix up after results, Facebook gains on upgrade. Healthcare, up 1.5 percent, was the best performing of the 10 major S&P sectors, as Allergan Inc jumped 15.8 percent to $164.48 a day after activist investor William Ackman teamed up with Canadian drugmaker Valeant Pharmaceuticals International Inc to bid for the company.
In apparent references to Subway and Taco Bell, he also noted that McDonald's seems to face new rivals every year in the mornings, whether they're "sandwich shops or taco shops." Taco Bell, which is owned by Yum Brands, has declined to say how its breakfast is faring so far.
Some of Tuesday's midday movers:
Fast Money trader Stephanie Link shares her bullish play on McDonald's, while Stephen Weiss, takes a bearish view of the stock.
*Netflix up after results, Facebook gains on update. Dow components Travelers Cos Inc and United Technologies Corp both reported first-quarter earnings that beat expectations, and United Tech raised the low end of its full-year profit outlook. Shares of Travelers rose 0.2 percent to $86.58 while United Tech was up 1.2 percent at $119.69.
Discussing McDonald's positive European profits and need for margin improvement in the U.S., with Jeffrey Bernstein, Barclays senior restaurant analyst.
McDonald's reported a lower quarterly profit as sales at the fast-food chain's established U.S. restaurants fell more than expected.
*Netflix up after results, Facebook gains on update. Dow components Travelers Cos Inc and United Technologies Corp both reported first-quarter earnings that beat expectations, and United Tech raised the low end of its full-year profit outlook. Shares of Travelers rose 0.7 percent to $87.04 while United Tech was up 1 percent at $119.49.
April 22- McDonald's Corp posted a lower quarterly profit on Tuesday as high beef costs bit into margins and fewer customer visits resulted in a bigger-than-expected decline in sales at the fast-food chain's established U.S. restaurants.
*Travelers and United Tech profits top expectations. *Netflix Inc surged 7.8 percent to $375.74 in premarket trading a day after results showed strong subscriber growth, a sign that the trading favorite still had room to grow despite concerns over its elevated valuation.