Financial News--McDonald's, Precision Auto Care, RadioShack, Sonic, Spherion
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Oak Brook, Illinois-Shares of McDonald's Corp. roseas much as 2.1 percent last week after the fast-food chainannounced it would reduce its U.S. divisions from five to three aspart of broader moves to lower costs. Shares in the company were up48 cents to $29.97 after falling about 14 percent this year from ahigh of more than $35 in January. -Reuters
Leesburg, Virginia-Precision Auto Care Inc. announced forthe fiscal year ending June 30, 2001, a loss of $18.9 million,compared with a loss of $18.4 million for the prior year.-PRNewswire
Fort Worth, Texas-Comparable-store sales for RadioShackfranchise and dealer stores declined 6 percent to $354 million from$376.2 million for the month of September.-Reuters
Oklahoma City, Oklahoma-Drive-in restaurant chain SonicCorp. said it expects earnings to be slightly above analysts'consensus estimate for the fiscal year that ended in August. Forfiscal 2001, increased advertising, introduction of new productsand an expanded breakfast program are expected to drive earningsslightly ahead of the estimate of $1.39 a share.-Reuters
Fort Lauderdale, Florida-Temporary-staffing providerSpherion Corp. said it will report third quarter earnings at thelow end of its previous guidance and cut 500 jobs, taking chargesof up to $80 million, as part of its restructuring. Spherion, ownerof 1,000 staffing outlets worldwide, said it will consolidate,franchise or sell about 150 offices. -Reuters
