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News Summary: McDonald's 3Q net income slips

THE NEWS: McDonald's Inc. said Friday that its third-quarter net income fell nearly 4 percent as the stronger dollar hurt international results and the chain faced tough competition in the U.S. Revenue was nearly flat at $7.15 billion.

THE BACKGROUND: The world's largest hamburger chain has thrived in boom and bust times by selling cheap eats and updating its menu. But global economic pressures and intensifying competition are wearing at the company.

WHAT'S NEXT: CEO Don Thompson said revenue in stores open at least 13 months, a key restaurant metric, is trending negative so far in October.