July 22 - You could buy roughly 450 million Big Macs for the drop in McDonald's market cap through lunchtime Monday. Conway G. Gittens reports.
The Daily Digit is 450 million. That's a rough estimate of how many McDonald's Big Macs you could buy for $4.45, equal to the drop in the company's market value from Friday's dinner time to Monday's lunch in New York City's Times Square. The company reported quarterly results below analysts' expectations, saying things just aren't that good. First of all, competition from smaller rivals like Wendy's and Burger King is getting really tough. Second, falling sales in Europe. And CEO Don Thompson says it can get even worse. In the meantime, McDonald's is putting up a decent fight. It has been offering late-night breakfast, tweaking its menu and advertising value-priced meals to sell more than just Big Macs.