UPS Hit Hard on Outlook, McDonald's Disappoints, Market Rally Loses Steam




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Summary: Markets opened slightly lower Friday after a 4-day rally as companies like UPS and McDonald's disappointed investors with weak results. A rally in crude prices after the death of Saudi Arabia's King Abdullah didn't last due to uncertainty regarding future Saudi oil policy moves. In the U.S., it was a down start for McDonald's (MCD), which disappointed on its bottom line but at least managed to surprise with same-store sales. And UPS (UPS) couldn't say anything to calm investors, as its outlook -- potentially foreshadowing a disappointing digital sales quarter -- for holiday numbers wasn't what the Street was seeking. Shares there are down 9% to start the day.