1-What of this additional information in the Annual Report do you think would be most useful to investors or analysts if they are interested in making earnings forecasts about McDonald's? Why?

2-The annual report of most companies includes a Letter to the Shareholders from the company Chief Executive Officer (CEO) that often sets the tone of the company's focus in the near future. Read the letter from McDonald's CEO, Chris Kempczinski, and briefly describe two key areas of focus or initiatives that he highlights in the letter.

Part 2: Quarterly earnings information

McDonald's released its second quarter (Q2) earnings report for fiscal 2022 on the morning of Tuesday, July 26, 2022.

1. Describe McDonald's earnings release, including what type of document was issued by McDonald's and a brief summary of the actual news that McDonald's relayed about its 2^nd quarter financial performance.
2. Using Yahoo! Finance or another website with stock market price information, obtain McDonald's (NYSE: MCD) closing stock price the day before, t-1, (Monday, 7/25), the day of, t, (Tuesday, 7/26) and the day after, t+1, (Wednesday, 7/27) the earnings information was released. a-Describe the stock market reaction to the information by computing the percentage change in price over this 2 day period (both from t-1 to t and from t to t+1 where t is the announcement day). Be sure to show the details of your calculation. b-Are you surprised by the size and direction of the market reaction based on the information in the earnings release Discuss why or why not. https://corporate.mcdonalds.com/content/dam/gwscorp/assets/investors/financial-information/earnings-release/Q2%202022%20Earnings%20Release.pdf https://corporate.mcdonalds.com/corpmcd/en-us/our-stories/article/FinancialNews.Q2-2022-results.html