McDonald's Rises on Hopes for Strong July Sales

Shares of McDonald's (MCD Quote) got a boost Thursday morning from expectations for good July sales numbers.

The fast-food giant will release sales numbers after the close on Thursday. In the meantime, Salomon Smith Barney came out with a survey of 29 McDonald's franchisees with about 160 restaurants. The franchisee research found that same-store sales rose 10.3% in aggregate in July.

"The stock could trade well over the next two sessions, based on what we believe will be favorable July U.S. sales numbers released shortly," said Mark Kalinowski, an analyst at Salomon Smith Barney. Salomon Smith Barney has had a banking relationship with McDonald's in the past 12 months. ...