On Thursday, the Dow (NYSE:DIA) managed to climb above 12,600, and the S&P 500 (NYSE:SPY) gained 2.92 to close at 1343.?However, most commodity names took a pause as Goldman Sachs (NYSE:GS) once again released a new market outlook, this time on the US Dollar (NYSE:UUP).
Late Wednesday, Goldman Sachs released a report that its currency analyst, Thomas Stolper, believes the US Dollar will weaken. ?Due to weak manufacturing and a trade deficit, he says, ? We have changed our forecasts to project more dollar weakness.? ?In fact, he believes that the euro will be at $1.55 in 12 months, even though the euro has its own debt crisis currently playing out.
McDonald?s (NYSE:MCD), the world?s most recognizable foodservice retailer, didn?t appear to be affected by Goldman?s call on the US Dollar. ?Shares closed 1.24% higher as the company is making advancements in Europe. ?Although McDonald?s recently went on a 62k hiring binge in the US, the company is replacing cashiers with touch screens and swipe cards at 7,000 Europe locations. ?In order to attract more customers in the US, it is also changing its menu to include healthy items such as oatmeal and fruit. ?McDonald?s was founded in 1948, and has more than 32,000 restaurants in 117 countries around the world. ?It competes with other foodservice retailers such as YUM! Brands (NYSE:YUM).
Ralcorp (NYSE:RAH) has been making headlines with recent offers from ConAgra (NYSE:CAG) to buyout the food label company. Today, Ralcorp is said to be testing the market for its own deal. ?Ralcorp is looking for a buyer of its Post Cereal unit. ?Ralcorp is seeking $2 billion for the unit, which it just purchased from Kraft (NYSE:KFT) in 2008. ?No deal has been made, but potential buyers include: General Mills (NYSE:GIS), Kellogg (NYSE:K), B&G Foods (NYSE:BGS), and Blackstone Group (NYSE:BX). ?Ralcorp also received a downgrade from BB&T Capital recently. ?Shares closed slightly lower to $90.01.
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