McDonald's slips on E.coli outbreak tied to co's hamburger in U.S.; JPM sees no long-term damage
Updates
** Shares of world's largest fast-food chain McDonald's MCD.N fall as much as 7.5% to $290.88, set for their worst day since March 2020
** One person died and dozens fell sick from E.coli infections linked to MCD's Quarter Pounder hamburgers - U.S. CDC
** CDC officials said outbreak linked to MCD's hamburger has affected people across 10 U.S. states
** J.P.Morgan says "MCD now trading on emotion/worry vs what we believe should result in no long term damage to the brand"
** Specific ingredient linked to the illness has not been identified but investigators are focused on fresh, slivered onions and fresh beef patties - CDC said
** TD Cowen says "We will monitor the situation as it's only natural to expect a short-term impact to sales"
** MCD has proactively removed the slivered onions and beef patties used for the Quarter Pounder hamburgers from stores in affected states while the investigation continues, MCD informed CDC.
** Jefferies says 'too early' to tell on sales impact but likely less detrimental vs historical instances elsewhere in industry
** MCD up 6.13% YTD, as of Tuesday's close
Reporting by Siddarth S and Neil J Kanatt in Bengaluru
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