McDonald's Far Exceeds Former All-Time High After Q2 Beat

McDonald's Corporation MCD shares are trading higher by $6.30 (4 percent) at $158.15 in Tuesday's session.

The catalyst behind the rally is a Q2 beat of 8 cents along with a sales beat of $90 million. Also, sales comps were up 6.6 percent.

After a much higher open, above its former all-time high ($156.75), McDonald's had a $1.00 retreat but found support just under that level at $156.44.

The continuation rally has taken the stock all the way to $159.64, but profit-takers have now nudged into the lower-$158.00 handle.