J.P. Morgan cut McDonald's price target from $305 to $280. McDonald's reported earnings for the second fiscal quarter exceeded Wall Street expectations, but revenue fell slightly short of expectations. The Chicago-based fast food giant announced on Tuesday that adjusted earnings per share for the quarter were $3.38, up from $3.19 in the same period last year, and higher than the average estimate of $3.32 from analysts surveyed by FactSet. Revenue rose 4% to $7.1 billion, lower than analysts' initial estimates of $7.13 billion; global same-store sales increased 1.3%, in line with Wall Street's expectations.

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