McDonald's Corp. (NYSE: MCD) has for years been one of the best stocks to buy because of its expansion into high-growth areas like China.
But lately the MCD stock growth engine has reversed. McDonald's reported today (Monday) that it had a 0.5% drop in global sales at restaurants open at least 13 months. While nowhere near as bad as the 2.2% drop analysts had forecast, it's a key metric moving in the wrong direction.
Once one of Money Morning Chief Investment Strategist Keith Fitz-Gerald's favorite stocks to buy, the fast-food chain's troubles have changed his views.
"For the first time in a long time, I wouldn't recommend it," Fitz-Gerald, a seasoned market analyst with 33 years of experience, said in an appearance today on FOX Business' "Varney & Co."
Host Stuart Varney also asked Fitz-Gerald about Chinese e-commerce giant Alibaba Group Holding Ltd. (NYSE: BABA) on the eve of "Singles Day." That Chinese holiday is expected to generate $6 billion in sales for BABA in 24 hours.
To hear more of Fitz-Gerald's thoughts on MCD stock, as well as whether he thinks Alibaba is among stocks to buy now, watch the video below.
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