McDonald's (MCD: sentiment, chart, options) is lovin' it this morning. The blue-chip fast-food firm announced that global comparable-store sales in the latest month rose 7.7% from the period a year ago, with U.S. same-store sales advancing 4.3% higher in May. Meanwhile, system-wide sales spiked 16% higher. The company attributed the increase to new menu items including a Southern Style Chicken biscuit and sandwich as well as an "emphasis on everyday affordability."

As a result of the news, Stifle Nicolaus analyst Steve West upwardly revised his second-quarter earnings estimate on MCD to 86 cents per share from 80 cents per share, upping his 2008 forecast to $3.36 per share from $3.30 per share. The broker cited the Dow component's May sales far exceeding expectations for the positive revisions. Meanwhile, Cowen & Co. analysts Paul Westra reiterated MCD's "outperform" rating, predicting the company to outperform the broad market by more than 20% over the next year.

In early trading, the shares of MCD have tacked on more than 4%, or $2.34, trading near $59.30. The stock stands atop support from its inclining 10-month moving average a trendline it hasn't closed a month below since June 2006. Heading into the report, most analysts were already bullishly aligned, as Zacks reports that 7 of 11 ranking brokers rated the security a "buy" or better.