Sci-tech

Markets Right Now: Stocks open higher on Wall Street

Markets Right Now: Stocks open higher on Wall Street

Shares of Yum Brands Inc., based in Louisville, Kentucky, added 9 cents to $62.13.

Yum! Brands (NYSE:YUM) had its target price lowered to $65.00 by Deutsche Bank in a report released 11/1/2016.

Localization of offerings at KFC and Pizza Hut outlets in China will be an important component of the firm's strategy for the country, Yum China Chief Executive Officer Micky Pant said at a briefing Tuesday in Shanghai. Brands makes up approximately 1.66% of Douglas Lane Associates's portfolio. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. (Premarket trading on October 31 hit a high of $24.49 per share, but the price was $24.24 per share at the close of business Monday.) Yum Brands started Tuesday at $62.29 a share, after the stock plunged overnight from $86.28 per share. Worldwide, the Yum! Brands system opens over six new restaurants per day on average, making it a leader in global retail development. The fund owned 40,917 shares of the restaurant operator's stock after buying an additional 334 shares during the period. The company will pay a 3-percent royalty fee to Yum! Tortoise Investment Management LLC boosted its position in shares of Yum Brands by 10.4% in the second quarter. LMR Partners LLP raised its stake in Yum Brands by 548.0% in the third quarter. Also, CFO David W. Gibbs sold 14,487 shares of the firm's stock in a transaction on Thursday, October 13th.

The VIX volatility index, which is seen as a measure of the market's fear, briefly climbed above 20 for the first time since the Brexit period this summer, but finished at 18.35, still sharply higher than Monday.

China, Starbucks' largest worldwide market, represents the most significant opportunity for the company, said a company spokesperson.

Ontario's relaxed rules for wine sales at grocery stores take effect
Under previous rules, the sale of wine at Ontario grocery stores was limited to kiosks set apart from other shelving. Previously, it was only sold at LCBO or Wine Rack stores, farmers' markets or vineyards.


On the company's financial health, Yum! The firm's revenue for the quarter was down 3.2% on a year-over-year basis.

Many Wall Street Analysts have commented on Yum!

Previously on 10/19/2016, Credit Suisse Group AG reported about Yum! Forward-looking statements are based on our current expectations, estimates, assumptions or projections concerning future results or events, including, without limitation, the future earnings and performance as well as capital structure of Yum!

The company now has more than 7,300 restaurants in China, and more than $6.9 billion in annual revenue, accounting for more than half of Yum! The plan calls for Yum (excluding the China spinoff operations) to become 98% franchise operated by the end of 2018.

Yum China Holdings Inc. began trading Tuesday morning on the New York Stock Exchange under the ticker symbol "YUMC". The Company's three Concepts focus on the chicken, pizza and Mexican-style food categories, respectively. Taco Bell operates in over 20 countries and territories throughout the world.


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