Let’s just catch up on what happened after hours Thursday before we crack on into the new day.
Sonic Corp (NASDAQ:SONC) and Bed Bath and Beyond Inc (NASDAQ:BBBY), fell 7% and 12% respectively after quarterly earnings undershot consensus.
RBC Capital Markets took a liking to the burger chains, lifting McDonald's Corp’s price target US$15 a share to US$170 and Burger King Owner Restaurant Brands International (TSE:QSR) from US$43 to US$69. Yum! Brands Inc (NYSE:YUM), owner of KFC and Pizza Hut, saw its valuation raised to US$83 a share from US$75.
Pre-market, the Dow Jones Industrial Average is called 40 points lower, while the NASDAQ is expected to be off, but only marginally and the S&P 500 is called flat.