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Stock Market & Financial Investment News

News Breaks
November 30, 2012
06:13 EDTYUMYum! Brands downgraded to Neutral from Buy at UBS
UBS downgraded Yum! Brands citing a deceleration of same store sales in China and valuation. The firm lowered its price target for shares to $73 from $84.
News For YUM From The Last 14 Days
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July 31, 2014
07:08 EDTYUMYum! Brands volatility expected to move on negative same store sales
Yum! Brands volatility is expected to move after the company disclosed a "significant negative impact to same store sales" in China due to the latest China food supplier issue. Overall option implied volatility of 19 is near its 26-week average of 20 according to Track Data, suggesting non-directional price movement.
05:47 EDTYUMYum! Brands price target lowered to $78 from $90 at Deutsche Bank
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July 30, 2014
18:54 EDTYUMOn The Fly: After Hours Movers
UP AFTER EARNINGS: VistaPrint (VPRT), up 20.6% after reporting better than expected quarterly results and guiding fiscal 2015 higher than analyst estimates... Mobileiron (MOBL), up 16.5%... LivePerson (LPSN), up 10.6%... Equinix (EQIX), up 1.1%... Whiting Petroleum (WLL), up 1.2%. DOWN AFTER EARNINGS: Glu Mobile (GLUU), down 9.9% after reporting second quarter results and that it will acquire Cie Games for $100M in cash and stock... ServiceNow (NOW), down 5.8%... Akamai (AKAM), down 5.3%... Westell Technologies (WSTL), down 7.5%... Solazyme (SZYM), down 4%... Whole Foods (WFM), down 3.4% after reporting third quarter results and guidance for the fourth quarter and fiscal 2014... Kraft Foods (KRFT), down 1.6%... Lam Research (LRCX), down 1.6%... Yelp (YELP), reverses in after-hours trading and shares are down marginally after reporting a decline in newly added businesses. ALSO LOWER: Penn Virginia (PVA), down 2.1% after announcing that it has sold Eagle Ford Shale acreage rights for $150M... Yum! Brands (YUM), down 5.6% after saying that OSI had a "significant, negative impact" to its sales in China.
17:35 EDTYUMYum! Brands drops 6% to $68.45 after saying OSI hurt China sales
17:35 EDTYUMYum! says OSI had 'significant, negative impact' to China SSS
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July 29, 2014
06:43 EDTYUMAnalyst: China restaurants to obtain meat locally, China Daily says
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July 28, 2014
06:23 EDTYUMHusi Shanghai withdraws products from marketplace
OSI Group, the parent company of Husi Shanghai issued a statement on its website saying that it is withdrawing all products manufactured by Husi from the marketplace. The company said, "To help rebuild the trust of our customers and consumers, as well as to cooperate with the official investigatory process, we are compelled to withdraw all products manufactured by Shanghai Husi from the marketplace. We are also conducting a thorough internal investigation into any possible failures on the part of current and former senior management. Should any misconduct be uncovered, we will take swift and decisive action against those responsible, including all relevant disciplinary and/or legal measures. In addition, a new management team has been brought in to China to ensure that operations run effectively. OSI will conduct a full, fair, and comprehensive investigation on managers at all levels for evidence of management failures. In the meantime, our local operations will be managed by global management in accordance with global standards of quality management. We remain committed to our presence in China and have sent our best team of global experts to ensure we resolve this. We are very proud of our team members and our operations in other parts of China. It reinforces our confidence and commitment to China. We have a great deal yet to deliver to China. World-wide brands such as Yum! Brands' (YUM) KFC, McDonald's (MCD) and Starbucks (SBUX) were affected by the food scandal in the country after allegations arose speculating that Husi Shanghai supplied expired meat to the companies. Reference Link
06:16 EDTYUMOSI Group CEO says China food scandal 'completely unacceptable'
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July 25, 2014
16:49 EDTYUMS&P ends week little changed amid earnings deluge
The S&P 500 finished little changed this week as mixed U.S. economic data and continued geopolitical uncertainty offset strong earnings from a number of major companies and upbeat overseas economic data. MACRO NEWS: U.S. economic data was mixed, as fewer than expected jobless claims were reported and durable goods orders for June were slightly higher than expected, but new home sales for June and a preliminary purchasing managers' index for July came in below expectations... Investors received some positive economic news from overseas, as HSBC's preliminary China purchasing managers' index for July reached an 18-month high. Meanwhile, a preliminary PMI for the euro zone for July came in at 54, versus 52.8 in June... Ongoing conflicts between Israel and Hamas and Russia and Ukraine kept investors on edge, with Friday reports indicating that no truce accord had been reached in Israel and that Russia was building up its troop presence along the Ukrainian border. COMPANY NEWS: Among the notable companies whose stocks rose after they reported quarterly results were Facebook (FB), Apple (AAPL), Allergan (AGN) and Chipotle Mexican Grill (CMG). Notable companies whose stocks sold off following their results included Netflix (NFLX), Harley-Davidson (HOG), General Motors (GM), Boeing (BA), McDonald's (MCD) and Pandora (P)... McDonald's was also hit this week by revelations that its restaurants in China had sold expired meat that was allegedly intentionally supplied by a China-based company. Yum! Brands (YUM) and a provider of products to Starbucks (SBUX) are also believed to have bought and sold expired meat from the supplier... In M&A news, Bloomberg reported that real estate website operator Zillow (Z) held talks about buying its rival, Trulia (TRLA). Both stocks surged. Shares of SodaStream (SODA) also rallied after Bloomberg reported that the company is in talks about selling itself to an investment firm that would take the beverage system maker private... On Monday, hedge fund manager Bill Ackman promised on CNBC that his presentation about Herbalife (HLF) would show why the company "is going to collapse." But the shares actually surged higher during and immediately after Ackman's presentation. Ackman has a large short position in the stock and notably alleged it is a pyramid scheme... BlackBerry's (BBRY) CEO told the Financial Times that his company was in early talks about partnering with companies to target the enterprise markets, in order to counter a recently announced partnership between Apple and IBM (IBM). INDEXES: For the week, the Dow fell 0.83% to 16,960.57, the Nasdaq rose 0.4% to 4,449.56, and the S&P was flat at 1,978.34.
July 24, 2014
06:51 EDTYUMChina investigates 581 companies, restaurants as scandal broadens, Reuters says
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July 23, 2014
15:13 EDTYUMYum terminates all buying from scandal linked Chinese supplier, Reuters reports
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06:48 EDTYUMFive people detained regarding China meat scandal investigation, Reuters says
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July 21, 2014
16:22 EDTYUMOn The Fly: Closing Wrap
Stocks on Wall Street began the trading day in negative territory and remained there through nearly the whole session. The market action was influenced more by the geopolitical events in Russia and Israel than by the upcoming avalanche of earnings scheduled for release throughout the week. Despite the weak open and subsequent drop during the first hour of trading, the market drifted off its lows and managed to pare its losses, even turning mixed for a short time. The averages dipped again heading into the bell, though they closed well of their worst levels. ECONOMIC EVENTS: In the U.S., the Chicago Fed's National Activity Index dipped to 0.12 in June from a reading of 0.16 in May. COMPANY NEWS: Allergan (AGN) rose $3.74, or 2.23%, to $171.14 after the company's Q2 results and its FY14 outlook beat expectations. The company, which is working to fend off a proposed acquisition by Valeant Pharmaceuticals (VRX), also announced plans to cut its workforce by 13%, or about 1,500 employees, as part of a broader restructuring effort. In related news, Valeant announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business." Later in the day, Bill Ackman of Pershing Square, who is partnering with Valeant in its attempt to buy Allergan, called the restructuring a "Valeant light" effort and said Valeant does not need to raise its bid for Allergan. Ackman explained that he believes that shares of Valeant will rise around $10 should the Allergan board engage in takeover talks with the company and that a $10 share rise would boost Valeant's bid for Allergan by $8 per share. MAJOR MOVERS: Among the notable gainers was Extreme Networks (EXTR), which rose 69c, or 15.79%, to $5.06 after the company raised its Q4 earnings per share outlook and narrowed its Q4 revenue view. Also higher were shares of EMC (EMC), which advanced $1.35, or 5.0%, to $28.33 after the Wall Street Journal reported, citing sources, that activist investor Elliott Management has taken a stake of over $1B in the data-storage company and plans to push it to break itself up and spin off VMware (VMW), which is 80% owned by EMC. Shares of VMware fell $2.36, or 2.48%, to $92.95 following the Journal's report. Among the other noteworthy losers was Monster Beverage (MNST), which fell $3.07, or 4.53%, to $64.74 after Morgan Stanley downgraded the stock, citing slowing U.S. trends and balanced valuation. Also lower were shares of Yum! Brands (YUM), which fell $3.29, or 4.25%, to $74.13 after Associated Press reported that the company's KFC brand and McDonald's (MCD) were sold expired beef and chicken in China from food supplier Husi Food. Shares of McDonald's, which is scheduled to report on its quarter before tomorrow's market open, slid $1.44, or 1.45%, to $97.55. INDEXES: The Dow fell 48.45, or 0.28%, to 17,051.73, the Nasdaq dropped 7.44, or 0.17%, to 4,424.70, and the S&P 500 declined 4.59, or 0.23%, to 1,973.63.
11:43 EDTYUMYum! Brands trades lower, levels to watch
The shares are trading close to session lows at $74.60 following news of a tainted meat scandal for KFC operations in China. Dragon TV of Shanghai reported that Husi Food Co. sold the company expired chicken repackaged with altered expiration dates. The $74 area is an important one technically for the shares. A breakdown below $74 would be bearish for future price. Holding price at $74 would put the stock back at the lows of the range since mid-February of this year.
11:00 EDTYUMStarbucks China says one of its suppliers got meat from Husi, Bloomberg reports
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09:10 EDTYUMOn The Fly: Pre-market Movers
HIGHER: Allergan (AGN), up 0.5% after Q2 results, FY14 outlook beat expectations and the company announces plans to reduce workforce by about 1,500 employees as part of restructuring. Also, Valeant (VRX) announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business"... Extreme Networks (EXTR), up 13% after raising Q4 EPS, revenue view... Gas Natural (EGAS), up 6% after confirming it rejected $13 per share unsolicited offer from Algonquin Power... EMC (EMC), up 4.5% after the WSJ says Elliot Management took a stake of over $1B in the firm and plans to push the company to break itself up... GoPro, (GPRO), up 2.8% after initiated at several firms including Citigroup, Barclays and JPMorgan... Kandi Technologies (KNDI), up 6% after China Daily said China will not to waive a sales tax on electric cars made by foreign companies. Tesla (TSLA) is down 1% following the report. UP AFTER EARNINGS: Halliburton (HAL), up 0.5%... LOWER: Reynolds American (RAI), down 2.3% after a Florida jury hit the company with $23.6B in punitive damages in a lawsuit filed by the widow of a longtime smoker. Shares of fellow tobacco companies also fell after the jury decision, as Lorillard (LO) fell 2% and Altria (MO) slid 1.6%... Yum! Brands (YUM), down 2% after AP reported that a Shanghai TV station said a food supplier sold expired beef and chicken to the company's KFC brand in China along with to McDonald's (MCD), which is down 0.7%. DOWN AFTER EARNINGS: PetMed Express (PETS), down 2.4%... Hasbro (HAS), down 1.3%.
07:42 EDTYUMYum! Brands weakness a buying opportunity, says UBS
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05:59 EDTYUMMcDonald's, KFC face expired food scandal in China, AP reports
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July 18, 2014
16:47 EDTYUMMarket ends week higher as earnings, M&A offset geopolitical tensions
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07:08 EDTYUMYum! Brands risk/reward attractive after decline, says Bernstein
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