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Today is Wednesday, October 23, 2024.

The Early Bird Index today is 75.22.

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McDonald's E. Coli Outbreak 🍔

McDonald’s (NYSE: MCD) fell by 5.80% in after-hours trading on Tuesday after the CDC (Centers for Disease Control and Prevention) reported an E. coli outbreak linked to McDonald’s hamburgers.

Details: 49 people across 10 states have been sickened due to Quarter Pounder hamburgers from McDonald’s, which has so far resulted in 10 hospitalizations and one death, according to the CDC.

• In a statement, McDonald’s said its initial findings indicate that a subset of illnesses may be linked to slivered onions used in the burgers, and out of an abundance of caution, the company is temporarily removing the Quarter Pounder from restaurants across multiple states.

Early Bird’s Nest Egg Gains: Recovering from a major food safety incident like an E. coli outbreak can be a lengthy and challenging process for large restaurant businesses. The timeline for recovery can vary significantly depending on the severity and the scope of the outbreak.

Final Thoughts: This stock decline wiped out McDonald’s gain for the year.

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Notables

Notable Earnings Today: Tesla (Nasdaq: TSLA), Boeing (NYSE: BA), Lam Research (Nasdaq: LRCX), AT&T (NYSE: T), International Business Machines (NTSE: IBM), Coca-Cola (NYSE: KO), T-Mobile US (Nasdaq: TMUS), Mattel (Nasdaq: MAT), Las Vegas Sands (NYSE: LVS), Whirlpool (NYSE: WHR), Knight-Swift Transportation Holdings (NYSE: KNX), ServiceNow (NYSE: NOW), NextEra Energy (NYSE: NEE), Hilton (NYSE: HLT), Western Union (NYSE: WU), Newmont (NYSE: NEM), GE Vernova (NYSE: GEV), Wyndham Hotels & Resorts (NYSE: WH), Thermo Fisher Scientifi (NYSE: TMO), Old Dominion (Nasdaq: ODFL), QuantumScape (NYSE: QS), CME Group (Nasdaq: CME), Vertiv Holdings (NYSE: VRT), Celestica (NYSE: CLS), Viking Therapeutics (Nasdaq: VKTX), General Dynamics (NYSE: GD), Align Technology (Nasdaq: ALGN), Amphenol (NYSE: APH), ASGN Incorporated (NYSE: ASGN), Avery Dennison (NYSE: AVY), Boston Scientific (NYSE: BSX), Canadian Pacific Kansas City (NYSE: CP), Century Communities (NYSE: CCS), Constellium (NYSE: CSTM), Evercore (NYSE: EVR), Greenbrier (NYSE: GBX), Healthcare Services Group (Nasdaq: HCSG), KBR (NYSE: KBR), Lending Club (NYSE: LC), Lennox International (NYSE: LII), Lithia Motors (NYSE: LAD), MaxLinear (Nasdaq: MXL), Mr. Cooper Group (Nasdaq: COOP), New Oriental Education & Technology (NYSE: EDU), NextEra Energy Partners (NYSE: NEP), Northern Trust (Nasdaq:NTRS), Pathward Financial (Nasdaq: CASH), PROG Holdings (NYSE: PRG), Prosperity Bancshares (NYSE: PB), Raymond James (NYSE: RJF), Roper (Nasdaq: ROP), Sallie Mae (Nasdaq: SLM), Stifel Financial (NYSE: SF), SEI Investments (Nasdaq: SEIC), Simulations Plus (Nasdaq: SLP), Taylor Morrison Home (NYSE: TMHC), Teledyne Technologies (NYSE: TDY), TransUnion (NYSE: TRU), Travel + Leisure Co (NYSE: TNL), UniFirst (NYSE: UNF), United Community Banks (NYSE: UCB), Westinghouse Air Brake Technologies (NYSE: WAB), Watsco (NYSE: WSO), Winnebago (NYSE: WGO).

Notable IPOs Today: SAG Holdings Limited Ordinary Shares (Nasdaq: SAG), FB Bancorp, Inc. Common Stock (Nasdaq: FBLA), Founder Group Limited Ordinary Shares (Nasdaq: FGL), BioSig Technologies, Inc. Common Stock (Nasdaq; BSGM), Jinxin Technology Holding Company American Depositary Shares (Nasdaq; NAMI), Li Bang International Corporation Inc. Ordinary Shares (Nasdaq: LBGJ).

Notable Equity Crowdfunding Campaigns Ending Today: The KRe8 Place (Honeycomb), Bardelia (Republic), Kazark (Netcapital), OVE Touch & Go (StartEngine), GIGA (Netcapital).

Notable Economic Events Today: Existing Home Sales (10:00 a.m. ET), Crude Oil Inventories (10:30 a.m. ET), Beige Book (2:00 p.m. ET).

Starbucks Suspends Outlook

No surprises here as Starbucks (Nasdaq: SBUX) posted preliminary financial results that were awful, sending the stock down 4.15% in after-hours trading on Tuesday.

Details: Sales dropped 7% in the quarter. The company blamed “softness in North America’s revenues” and weak sales in China. Starbucks is suspending its outlook for the fiscal year.

Final Thoughts: Starbucks has a long way to go to turn its struggling business around.

Spirit-Frontier Merger Talks Return

Spirit Airlines (NYSE: SAVE) jumped 16.59% in after-hours trading on Tuesday after the Wall Street Journal reported that merger talks with Frontier Airlines (Nasdaq: ULCC) have been revived.

Final Thoughts: Shares of Spirit Airlines are down over 80% this year.

Trends to Watch

Win-Win: Bitcoin to benefit from rising hashrate, inflation fears, crypto-friendly president (Cointelegraph)

Decent Results: Texas Instruments earnings show some improvements, despite weak industrial sales (MarketWatch)

Time to Fly: Flying air taxis move closer to US takeoff with issuing of FAA rule (Associated Press)

Pump the Brakes: Honda recalls 720,000 vehicles, citing possible cracks in fuel pumps (Washington Post)

Still the Best: The U.S. economy comes out on top, IMF forecasts (Axios)

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_{The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.}