NIO, Ultragenyx, and McDonald's Stocks Plummet Amid Disappointing Results

NIO Inc., Ultragenyx Pharmaceutical, and McDonald's shares plummeted to their lowest points in a year after releasing disappointing quarterly results. NIO stock closed down 0.3% on Thursday following its Q2 earnings release, which fell short of expectations and included a softer third-quarter outlook.

Ultragenyx Pharmaceutical Inc.'s RARE stock plunged 44% at close after the company announced that its Phase 3 ASPIRE Angelman study missed both primary and secondary endpoint results. Morgan Stanley downgraded RARE to 'Equal Weight' from 'Overweight' with a price target of $18, down from $74.

McDonald's Corp.'s MCD stock slipped to an annual low of $256.12 on Thursday amid weaker second-quarter revenue and slower U.S. customer traffic. Despite beating consensus estimates for adjusted earnings per share, the company's revenue came in below Wall Street expectations.