McDonald’s is expected to post 4Q results that include negative impacts from ongoing conflict in the Middle East, Baird analysts say in a research note. They expect the rest of the business to deliver a good performance and show solid overall operating momentum in the new year once the fast-food giant gets past a difficult 1Q comparison. But the analysts are trimming their 4Q estimates to reflect expectations for weakness in the Middle East, along with softer trends in Japan and uncertainties about China.