McDonald’s, Yum stocks hit all-time highs

Analysts cite global strength, product innovation, refranchising

Share prices at two of the world’s largest restaurant companies, McDonald’s Corp. and Yum! Brands Inc., reached all-time highs during trading this week, as the companies benefited from investor favor surrounding global operations as well as takeover talk involving their quick-service competitors.

Louisville, Ky.-based Yum Brands closed Friday at $48.85 after hitting a new high of $48.90 during trading. The operator and franchisor of more than 37,000 restaurants wor

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