McDonald’s Corp. surged 2.8% to $302.46 despite the fast food chain reporting a 1.4% drop in comparable store sales in the U.S. during the fourth quarter ending in December.

Revenue declined to $6.39 billion from $6.41 billion, net income dropped to $2.02 billion from $2.04 billion a year ago, and earnings per diluted share were flat at $2.80.

The fast food operator said traffic was slightly higher than usual at U.S. locations, but high prices kept consumers spending less.

In the fourth quarter, global comparable sales increased 0.4%, same-store sales at U.S. locations declined 1.4%, and international markets increased 0.1%.

The company’s board proposed a quarterly cash dividend of $1.77 per share, payable on March 17 to holders of record on March 3.

In the first half of 2024, McDonald’s introduced a $5 value meal and extended the bargain offering until December.

However, the company had to go through and settle an FDA investigation into its raw yellow onions, which caused E. coli among customers.

ON Semiconductor Corp. eased 0.7% to $50.91 after the Scottsdale, Arizona-based company reported weaker-than-expected fourth quarter 2023 results.

Revenue declined to $2.02 billion from $2.10 billion, net income dropped to $563.4 million from $604.3 million, and earnings per diluted share fell to $1.28 from $1.35 a year ago.

For the first quarter of fiscal 2024, the company estimated revenue between $1.8 billion and $1.9 billion and earnings per share between 94 cents and $1.06.

Last year, the company’s board approved a share repurchase program with authorization to repurchase up to $3 billion worth of shares through December 31.

Monday.com Ltd. surged 23.1% to $318.03 after the Tel Aviv, Israel-based cloud platform provider reported a 32% revenue growth in the fourth quarter ending in December.

Revenue increased to $267.98 million from $202.57 million, net income jumped to $23.0 million from $12.34 million, and earnings per diluted share rose to 43 cents from 24 cents a year ago.

During the quarter, WCM Investment Management LLC lessened its holdings in Monday.com by 3.1%, and Entropy Technologies LP increased its stake by 521.0%.

Hedge funds and other institutional investors own 73.70% of the company's stock.

Rockwell Automation Inc gained 7.7% to $289.11 after the industrial automation company said orders increased by 10% in the first quarter of 2025 ending in December.

Revenue declined to $1.88 billion from $2.05 billion, net income fell to $178 million from $213 million, and earnings per diluted share dropped to $1.61 from $1.86 a year ago.

For fiscal 2025, the company estimated sales of $8.1 billion and earnings per diluted share between $7.65 and $8.85.