Wednesday, September 5, 2012

Two Bluechip News: McDonald's Corporation(NYSE:MCD) & Halliburton (NYSE:HAL)

McDonald’s to open vegetarian restaurants in India

McDonald's Corporation (NYSE:MCD) is all set to open vegetarian restaurants in India, the first for the fast food chain.  The company has arrived at this decision after taking into consideration customer preference for vegetarian food.  These outlets will be located in places of pilgrimage.  However, the company has not yet set a date or number.  The hamburger chain has also stated that they do not serve beef and pork in their Indian restaurants and that there are separate sections or vegetarian and non vegetarian food.

Hindus who form the majority of India’s 1.2 billion population do not eat beef.  McDonald’s said it is not aware of any vegetarian only outlets in India.  But franchises may already be offering menus sans meat.

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In 2002 , the fast food chain had agreed to donate $10 million to U.S. Hindu groups who had filed lawsuits accusing the company of using vegetable oil with beef flavors for preparing French fries and hash browns and then labeling these items as vegetarian.

Halliburton scrip slides on lower guidance

Meanwhile the shares of Dallas-based Halliburton Company(NYSE:HAL) fell on lower guidance.  The company said that revenues from North America are likely to fall in the third quarter.  Reduced drilling activities and weakness in price might shave off 2.5 to 3 percent of profits from North America, according to Chief Financial Officer Mark A. Mccollum.  The Houston based company reported flat net profits in the second quarter, the 22 percent rise in revenue notwithstanding.  57 percent of the revenue was from North America.

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On Tuesday, the Halliburton scrip was down by 61 cents or 2 percent and was trading at $32.15.  Earlier, it had hit a low of $31.00.  The stock has been trading in the range of $26.28 and $43.08 in the past one year.

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