Short interest for Yum Brands gives investors a sense of the degree to which investors are betting on the decline of Yum Brands's stock. Short interest data is updated every two weeks.

Yum Brands Stock (NYSE:YUM), Short Interest Report

Yum Brands

Yum Brands is a U.S.-based restaurant operator featuring a portfolio of four brands: KFC (29,900 global units at year-end 2023), Pizza Hut (19,866 units), Taco Bell (8,564 units), and The Habit Burger Grill (381 units). With $64 billion in 2023 systemwide sales, the firm is the second-largest restaurant company in the world behind McDonald's ($130 billion), ahead of Restaurant Brands International and Starbucks ($29 billion). Yum is 98% franchised, with the largest franchisee, Yum China, spun out in 2016 (after which Yum China agreed to pay 3% royalties to Yum Brands in perpetuity). Yum is the newest evolution of Tricon, formerly a division of PepsiCo, and generates the bulk of its revenue from franchise royalties and marketing contributions.

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Yum! Brands&#39; shares decline after missing Q1 earnings, despite robust unit growth and record digital sales mix.

What&#39;s Going On With Taco Bell-Parent Yum! Brands Stock Today?

Asia

Restaurants

LKNCY

SBUX

YUMC

Key Takeaways:


	Yum China repurchased 17.9 million of its shares this year through April 23, well ahead of the 12.4 million shares it bought back in all of 2023 and 10.6 million in 2022


Yum China Revs Up Restaurant Expansion, Share Repurchases

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A negative sentiment might linger on Wall Street on Wednesday, as evidenced by stock futures, after Advanced Micro Devices, Inc.‘s (NASDAQ:AMD) 

Wall Street Set To Open Lower After AMD Earnings Disappoint As Traders Look To Fed&#39;s Powell For Relief: Why This Analyst Sees Incoming Summer Rally

Yum Brands Inc

Yuma Energy Inc

Yum China Holdings Inc

YUMY CANDY CO INC by The Yumy Candy Company Inc.

The Yumy Candy Co Inc

Yummies Inc

YUMMY

Demae-Can Co Ltd

VanEck Vectors ETF Trust ETF Trust VanEck Future of Food ETF

TD Cowen analyst Andrew Charles reiterates Yum Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) with a Buy and maintains $160 price target.

Price Target

Reiteration

Analyst Ratings

TD Cowen Reiterates Buy on Yum Brands, Maintains $160 Price Target

Yum! Brands, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) shares are trading lower on Wednesday&nbsp;<a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">after it missed on first-quarter earnings.</a>
The company reported first-quarter adjusted earnings per share of $1.15,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/b38545345/yum-brands-reports-first-quarter-results" rel="noreferrer noopener">missing the analyst consensus of $1.20</a>.&nbsp;
Yum! Brands reported quarterly revenues of $1.598 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">missing the street view of $1.710 billion.</a>
&#8220;First-quarter unit growth was robust with over 800 new unit openings, leading to 6% unit growth and positioning us to surpass 60,000 restaurants this year,&#8221; said David Gibbs, CEO.&nbsp;
First-quarter GAAP operating profit declined 1%, and&nbsp;first-quarter core operating profit grew 6%.&nbsp;
Worldwide system sales grew 2%, excluding foreign currency translation, with KFC at 4%, Taco Bell at 4% and Pizza Hut (4)%.
KFC Division opened 509 gross new restaurants across 43 countries in the first quarter, while Taco Bell Division opened 56 gross new restaurants across 14 countries.
Pizza Hut Division opened 240 gross new restaurants across 23 countries. The Habit Burger Grill Division opened three gross new restaurants this quarter.
&#8220;Our digital sales mix reached a new record, exceeding 50% for the first time&nbsp;in our history,&#8221; Gibbs added.&nbsp;
On April 29th, the company completed the previously announced acquisition of 218 KFC franchise restaurants in the U.K. and Ireland.
Price Action: YUM shares are trading lower by 3.66% to $136.08 at last check Wednesday.
Photo via Wikimedia Commons

What's Going On With Taco Bell-Parent Yum! Brands Stock Today?

<h4>Key Takeaways:</h4>
<ul>
<li>Yum China repurchased 17.9 million of its shares this year through April 23, well ahead of the 12.4 million shares it bought back in all of 2023 and 10.6 million in 2022</li>
<li>The company recently passed the 15,000-store milestone in China and launched a new standalone coffee chain attached to existing KFCs, with plans to ramp up the model</li>
</ul>
By Doug Young
In the race for China&rsquo;s fast-food market,&nbsp;Yum China Holdings Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yumc#NYSE">YUMC</a>) is staying well ahead of the pack. The operator of KFC and Pizza Hut restaurants in China passed a major milestone in the first quarter with its 15,000th store opening, as it boosted its presence in the many smaller cities that are home to much of country&rsquo;s population.
That&rsquo;s one of the top highlights from the company&rsquo;s&nbsp;<a href="https://www.prnewswire.com/news-releases/yum-china-reports-first-quarter-results-302130007.html">latest quarterly report</a>&nbsp;issued on Tuesday. Another shows Yum China spent a record $745 million on share buybacks and dividends, often collectively referred to as &ldquo;returning money to shareholders,&rdquo; in the first three months of the year. It did that by buying back more of its shares in a single quarter than in any year in its 8-year history as a publicly traded company. It also boosted its quarterly dividend to a new high.
It repaid investors as it continued with its breakneck expansion in a market that still has plenty of room to grow despite more cautious consumer spending. Among other things, it ramped up its drive into China&rsquo;s smaller cities by rolling out new smaller store formats that can be opened for as little as one-third of its current average cost. It also ramped up its push into franchising, leveraging its strong know-how and operational capability and taking advantage of experienced third-party partners to expand more quickly, especially in smaller markets and harder-to-reach channels like hospitals, universities or even highway service stations.
The company also threw down the gauntlet to coffee shop operators like&nbsp;Starbucks&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sbux#NASDAQ">SBUX</a>) and local leader&nbsp;Luckin&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/lkncy#OTC">LKNCY</a>), with KFC rolling out separate storefronts for KCOFFEE, its coffee segment, side-by-side with existing KFC stores, allowing for a shared kitchen and other resources that substantially reduce store investment cost while achieving greater efficiency.
&ldquo;We are expanding (our) addressable market through a multifaceted approach with flexible store formats, franchising and a range of exciting products across price points,&rdquo; said Yum China CEO Joey Wat on the company&rsquo;s first-quarter earnings call. &ldquo;With these actions underway, we believe we are well-poised to sustain strong growth and create long-term value for our shareholders.&rdquo;
The report showed generally positive business trends, including solid revenue growth on a constant-currency basis. The stock is relatively undervalued compared to global peers like Starbucks,&nbsp;McDonald&rsquo;s&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mcd#NYSE">MCD</a>) and former parent&nbsp;Yum Brands&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yum#NYSE">YUM</a>), which is probably why the company has been buying back shares so aggressively.
Yum China said it purchased 16.6 million shares for $681 million in the first three months of the year. Its website showed it continued to aggressively buy the stock in April, with 17.9 million shares purchased this year as of April 23. To put that in perspective, the company repurchased 12.4 million shares during all of last year, and 10.6 million in 2022, the only two years when it bought more than 10 million shares during the year.
At the same time, the company also announced a quarterly dividend of $0.16 per share, up sharply from the $0.13 in each of last year&rsquo;s four quarters and $0.12 per share each quarter in 2022 and 2021.
<h3>Drive To Smaller Cities</h3>
Next, we&rsquo;ll look at some of the company&rsquo;s latest initiatives, many aimed at tapping China&rsquo;s smaller markets that will be critical to its goal of serving half of China&rsquo;s population by 2026. The company said it opened 378 net new restaurants during the first quarter, bringing its total to 15,022. Of those new openings, about two-thirds used smaller formats that are typically better suited to tapping more price-sensitive lower-tier markets.
Management pointed out that KFC China recently rolled out a &ldquo;small town mini-model&rdquo; with simplified menus and optimized equipment that can cost as little as 500,000 yuan ($69,000) for each new store opening &ndash; only costing one third versus the current average of 1.2 million yuan to 1.5 million yuan. It added that Pizza Hut has also developed its own compact dine-in restaurant format. KFC accounted for about 70% of Yum China&rsquo;s stores at the end of the first quarter, while Pizza Hut made up 23%, with the rest coming from its smaller chains like Little Sheep and Huang Ji Huang.
Yum China reiterated its previous target of opening 1,500 to 1,700 net new stores this year, on its way to a target of 20,000 total stores by the end of 2026.
Last year it set a goal of making 15% to 20% of its new store openings with franchising partners over the next three years. It was already in that range for KFC, and the overall proportion also reached 19% in its latest quarter.
Delivery is another area where the company is chasing expansion by recently teaming up with third-party takeaway services. Some of those partners have connected directly with the company&rsquo;s ordering network, creating a more efficient system than Yum China&rsquo;s previous practice of doing all deliveries with its own drivers. It said its delivery sales grew 12% in the first quarter to account for 38% of all orders for KFC and Pizza Hut combined.
On the coffee front, the company jumped into China&rsquo;s recent craze for coffee with the launch of a new storefront model for its KCOFFEE segment. The brand has been part of KFC&rsquo;s offerings since 2015 but is now being set up as a separate storefront attached to KFC stores. While the new KCOFFEE stores have their own separate dining spaces and menus, they run alongside existing KFC restaurants to take advantage of their kitchens and other resources. It has already opened 100 such stores in less than a year, and, with the number of KCOFFEE cups sold recording a 30% year-on-year increase in the first quarter, the company intends to &ldquo;roll this model out aggressively.&rdquo;
We&rsquo;ll close with some of the company&rsquo;s &ldquo;big picture&rdquo; financials, headlined by a 7% year-on-year revenue increase on a constant-currency basis to $2.96 billion, with much of the gain coming from new store openings. The bottom line was the company posted core operating profit of $396 million, up 1% year-on-year. Its net income was roughly flat at $287 million, though its earnings per share still rose 10% on a constant-currency basis due to its heavy share repurchases over the last year.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

WIIM

Yum! Brands shares are trading lower following a Q1 earnings miss.

Yum Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) reported quarterly earnings of $1.15 per share which missed the analyst consensus estimate of $1.20 by 4.17 percent.

Earnings Misses

Yum Brands Q1 2024 Adj EPS $1.15 Misses $1.20 Estimate

A negative sentiment might linger on Wall Street on Wednesday, as evidenced by stock futures, after&nbsp;Advanced Micro Devices, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38534910/amd-investors-pull-back-after-modest-q1-beat-ceo-touts-ai-chip-ramp-up" rel="noreferrer noopener">underwhelming quarterly report</a>, exerting pressure on the tech sector and the broader market. However, the afternoon&#8217;s Federal Reserve interest rate decision and subsequent press conference by Chairman&nbsp;Jerome Powell&nbsp;could be the&nbsp;key&nbsp;catalyst that ultimately determines the session&#8217;s direction.
Despite potential short-term headwinds, some analysts view the April market pullback as a necessary correction after a strong rally, paving the way for renewed momentum in the coming months.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.72%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.43%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.21%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.60%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Wednesday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.41% to $499.92,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) slumped 0.75% to $421.40, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Previous Session:
Inclement economic data weighed down on the market on Tuesday, as the major averages reversed course, snapping a two-session advance. The employment cost index &#8211; a measure of wage-induced inflation rose more than expected in the first quarter, Chicago region&#8217;s manufacturing activity sunk further into contraction territory and consumer confidence fell below a threshold that demarcates receding and improving sentiment, three separate reports showed.
Bond yields spiked, exerting further downward pressure on stocks.
The averages opened narrowly mixed and moved roughly sideways in early trading. The indices declined steadily through the remainder of the session, ending notably lower for the day. The sell-off was broad-based, with IT, energy, and consumer discretionary stocks serving as big drags.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-2.04%</td>
<td>15,657.82</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-1.57%</td>
<td>5,035.69</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-1.49%</td>
<td>37,815.92</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-2.09%</td>
<td>1,973.91</td>
</tr>
</tbody>
</table>
</figure>
For the month, the indices fell 4.41%, 4.16%, 5.00% and 7.09%, respectively, with the S&amp;P 500 snapping a five-month winning run.
Insights From Analysts:
Powell alone can help lift some of the overhang surrounding the rate outlook and this could be the need of the hour, according to an analyst. Charlie Ripley, Senior Investment Strategist for Allianz Investment Management, said, &#8220;Market sentiment continues to waver on inflation-related data sets,&#8221; said the analyst, adding that data showing a jump in employment costs left an &#8220;unsavory taste in the mouth of investors.&#8221; 
&#8220;The continued realization that sticky service-related inflation metrics are taking a bite out of the Fed's rate-cutting plans has investors on edge for the time being and this is squarely being reflected in the sell-off of both bonds and equities,&#8221; Ripley said.
He expects Powell to help shed some light on the current uncertainty surrounding the path of policy rates.  
Carson Group&#8217;s Ryan Detrick, meanwhile, isn&#8217;t worried about the normally bullish April struggling this year. The S&amp;P 500 Index has been higher for five months in a row heading into it and some type of break was warranted, he said.
&#8220;In fact, we wouldn't be surprised if stocks consolidated for another month or so, working off some of the historic rebound off the late-October lows. We do not expect major weakness, but a break makes sense,&#8221; he added.
Detrick raised the specter of a summer rally, and strength during these six months, given it is an election year and stocks have been strong so far this year.
Upcoming Economic Data:
<ul>
<li>ADP is due to release its private payroll data for April at 8:15 a.m. EDT. Economists, on average, expect the sector to have added 183,000 jobs during the month, flattish with the previous month.</li>
<li>The Institute for Supply Management is scheduled to release its manufacturing purchasing managers&#8217; index for March at 10 a.m. EDT. The consensus estimate calls for a reading of 49.9, suggesting contraction, down from 50.3 in February.</li>
<li>The Labor Department will release the results of its Job Openings and Labor Turnover survey at 10 a.m. EDT, with the average economists&#8217; estimate for job openings at 8.7 million for March, down from 8.8 million in February.</li>
<li>The Commerce Department&#8217;s construction spending report, due at 10 a.m. EDT, will likely show a 0.3% month-over-month increase in spending in March. This compares to a 0.3% drop in the previous month.</li>
<li>The Energy Information Administration will release its weekly petroleum status report at 10:30 a.m. EDT.</li>
<li>The Fed will release its post-meeting policy statement at 2 p.m. EDT and this will be followed by Powell&#8217;s press conference at 2:30 p.m. EDT.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/best-futures-brokers">Best Futures Brokers</a>
Stocks In Focus: 
<ul>
<li>AMD fell over 6.5% in <a href="https://www.benzinga.com/premarket">premarket trading </a>after the company reported a small first-quarter beat and issued a lukewarm forward guidance. Peer Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and other chip stocks moved in sympathy.</li>
<li> Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) climbed over 2% following its first-quarter results.</li>
<li>Other stocks moving on earnings are Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) (up about 18%), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) (down over 12%), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) (down about 13%), and Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) (down about 9%).</li>
<li>Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>), CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>), The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>), Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>) and Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies reporting earnings ahead of the market opening.</a></li>
<li>Notable names reporting after the close are Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) and Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>).</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures fell for a third straight session, as the price pulled back toward the $80-a-barrel mark, and gold futures were little changed with a negative bias. An ounce of gold traded for around $2,300.
The 10-year note yield edged up and was around the 4.69% mark.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) pulled back sharply toward the $57K mark.
Most global equity markets remained closed for the Labor Day holiday. The open ones, including Japan, New Zealand, and Australia, settled lower ahead of the U.S. Fed decision.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38481553/will-earnings-cheer-continue-to-buoy-markets-apple-amazon-pfizer-coinbase-lead-flurry-of-q1-reports">Will Earnings Cheer Continue To Buoy Markets? Apple, Amazon, Pfizer, Coinbase Lead Flurry Of Q1 Reports This Week</a>
Photo by Tada Images on Shutterstock

Wall Street Set To Open Lower After AMD Earnings Disappoint As Traders Look To Fed's Powell For Relief: Why This Analyst Sees Incoming Summer Rally

The CNN Money Fear and Greed index showed a decline in the overall market sentiment, but the index remained in the &#8220;Fear&#8221; zone on Tuesday.
U.S. stocks settled lower on Tuesday, with the Dow Jones index dipping more than 550 points during the session. All three major indices recorded losses in April, ending a streak of five consecutive months of gains. The Dow dipped 5% to record its weakest monthly performance since Sept. 2022, while the S&amp;P 500 tumbled around 4.2% last month.
Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) reported better-than-expected first-quarter results on Tuesday, while McDonald&#8217;s Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) reported mixed first-quarter results. 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) reported better-than-expected first-quarter 2024 results.
On the economic data front, the Labor Department said the employment cost index rose 1.2% in the first quarter, higher than market estimates of 1%. The S&amp;P CoreLogic Case-Shiller 20-city home price index rose by 7.3% year-over-year in February. The US Federal Reserve will announce its latest interest rate decision on Wednesday.
All sectors on the S&amp;P 500 closed on a negative note, with energy, information technology and consumer discretionary stocks recording the biggest losses on Tuesday
The Dow Jones closed lower by around 570 points to 37,815.92 on Tuesday. The S&amp;P 500 fell 1.57% at 5,035.69, while the Nasdaq Composite dipped 2.04% at 15,657.82 during Tuesday's session.
Investors are awaiting earnings results from Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>), Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) and QUALCOMM Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) today.
At a current reading of 40.5, the index remained in the &#8220;Fear&#8221; zone on Tuesday, versus a prior reading of 43.7.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: <a href="https://www.benzinga.com/news/24/04/38520037/jim-cramer-rejects-illumina-as-its-not-well-run-recommends-buying-this-tech-stock-right-here-right-n">Jim Cramer Rejects Illumina As &#8216;It&#8217;s Not Well-Run,&#8217; Recommends Buying This Tech Stock &#8216;Right Here, Right Now&#8217;</a>

Trading Ideas

QCOM

Investor Sentiment Falls, Dow Snaps Five-Month Win Streak

With U.S. stock futures trading lower this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) to report quarterly earnings at 54 cents per share on revenue of $14.20 billion before the opening bell, according to data from Benzinga Pro. Pfizer shares rose 0.2% to $25.68 in after-hours trading.</li>
<li>Leggett &amp; Platt, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEG#NYSE">LEG</a>) posted weaker-than-expected results for its first quarter. Leggett &amp; Platt shares fell 13.1% to $15.70 in the after-hours trading session.</li>
<li>Analysts are expecting Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) to post quarterly earnings at $1.20 per share on revenue of $1.71 billion. The company will release earnings before the markets open. Yum! Brands shares fell 0.6% to $140.45 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) reported upbeat results for its first quarter on Tuesday, but issued weak sales forecast for the second quarter. The company reported first-quarter net sales of $143.3 billion, up 13% year-over-year. The net sales total beat a Street consensus estimate of $142.5 billion, according to <a href="https://www.benzinga.com/pro/feature/newsfeed?gspk=bHVrZWphY29iaTUzNDg&amp;gsxid=tdEE0VrK8Jeg&amp;ref=lukejacobi5348">data from Benzinga Pro.</a> Amazon reported earnings per share of 98 cents in the first quarter, beating a Street consensus estimate of 82 cents per share. Amazon shares gained 1.3% to $177.20 in the after-hours trading session.</li>
<li>Analysts expect Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>) to post quarterly earnings at $3.24 per share on revenue of $6.34 billion before the opening bell. Mastercard shares rose 0.7% to $454.50 in after-hours trading.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/04/38520037/jim-cramer-rejects-illumina-as-its-not-well-run-recommends-buying-this-tech-stock-right-here-right-n">Jim Cramer Rejects Illumina As &#8216;It&#8217;s Not Well-Run,&#8217; Recommends Buying This Tech Stock &#8216;Right Here, Right Now&#8217;</a>

Amazon, Pfizer And 3 Stocks To Watch Heading Into Wednesday

YUM! Brands, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yum#NYSE">YUM</a>) is scheduled to report first-quarter 2024 results on May 1, before the opening bell. In the last reported quarter, the company&#39;s bottom line missed the Zacks Consensus Estimate by 9.4%.
<h3>Q1 Estimates</h3>
The Zacks Consensus Estimate for earnings per share is pegged at $1.20, indicating an increase of 13.2% from the prior-year quarter&#39;s level. In the past seven days, the consensus estimate for first-quarter earnings has witnessed a downward revision of 0.8%. The Zacks Consensus Estimate for revenues is pegged at $1.72 billion, implying growth of 4.6% from $1.65 billion recorded in the prior-year quarter.
<h3>Factors to Note</h3>
Yum! Brands is anticipated to report strong same-store sales growth, indicating healthy consumer demand across its portfolio of brands. The company&#39;s continued emphasis on expanding its footprint, both domestically and internationally, is likely to have contributed to its top-line growth. Notably, stellar performance from its flagship brand, KFC, is expected to play a significant role in driving its overall revenue growth. 
One of the key drivers behind Yum! Brands&#39; success is its innovative menu strategy, featuring Culinary Forward limited-time offerings that resonate with evolving consumer preferences.&nbsp; Its integration of a recommended ordering system powered by AI and machine learning is anticipated to have a positive impact on its operational efficiency and customer experience. By leveraging data analytics and AI-driven insights, the company aims to personalize the ordering experience for customers, thereby enhancing satisfaction and driving incremental sales. 
Same-store sales are estimated to demonstrate growth of 2.3% year over year in the to-be-reported quarter. 
In first-quarter 2024, our model predicts KFC, Taco Bell and Habit Burger revenues to increase 7.1%, 3.8% and 17.7% from the year-ago levels to $735.8 million, $593.5 million and $155.4 million, respectively. However, we expect Pizza Hut revenues to decrease 2.5% from the prior-year levels to $247.5 million. 
High inflation levels are likely to have affected margins in the to-be-reported quarter. Also, an increase in the cost of employee wages, benefits and insurance, and other operating costs such as rent and energy costs, is expected to have put significant pressure on YUM&#39;s margins. Our model expects total costs and expenses to increase 2.2% from the year-earlier levels.
<div class="chart_embed">
<h3>Yum! Brands, Inc. Price and EPS Surprise <a href="https://www.zacks.com/stock/chart/YUM/price-eps-surprise?icid=chart-YUM-price-eps-surprise"> <img alt="Yum! Brands, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/a6/1714390612.png" style="height:263px; width:544px" title="" /> </a></h3>
Yum! Brands, Inc. price-eps-surprise | Yum! Brands, Inc. Quote
</div>
<h3>What the Zacks Model Unveils</h3>
Our proven model doesn&#39;t conclusively predict an earnings beat for Yum! Brands this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. 
Earnings ESP: Yum! Brands has an Earnings ESP (difference between the Most Accurate Estimate and the Zacks Consensus Estimate) of -2.85%. 
Zacks Rank: Yum! Brands currently carries a Zacks Rank #3.
<h3>Stocks Poised to Beat on Earnings&nbsp;</h3>
Here are some stocks worth considering from the Zacks Retail-Wholesale space, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle. 
Wingstop Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wing#NASDAQ">WING</a>) has an Earnings ESP of +4.60% and a Zacks Rank #2 at present.
The stock has risen 49.1% year to date. WING&#39;s earnings beat estimates in each of the trailing four quarters, the average surprise being 21.3%. 
Shake Shack Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/shak#NYSE">SHAK</a>) has an Earnings ESP of +3.33% and a Zacks Rank #3 at present. 
Shares of SHAK have risen 41.5% year to date. SHAK&#39;s earnings beat estimates in each of the trailing four quarters, the average surprise being 92.6%. 
Restaurant Brands International Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/qsr#NYSE">QSR</a>) has an Earnings ESP of +0.44% and a Zacks Rank of 3 at present. 
Shares of QSR have lost 5.5% year to date. It reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 10.2%. 
<a href="https://www.zacks.com/stock/news/2263959/factors-setting-the-tone-for-yum-brands-yum-q1-earnings?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2263959">To read this article on Zacks.com click here.</a>

SHAK

Factors Setting the Tone for YUM! Brands Q1 Earnings

Corporate <a href="https://www.benzinga.com/markets/equities/24/04/38471231/strong-quarterly-earnings-fuel-market-optimism-despite-inflation-concerns-slowing-economic-growt">earnings came to the market&#8217;s rescue in the past week,</a> helping to overcome rate fears. As we look ahead to the unfolding week, it remains to be seen whether the tech earnings deluge can keep the rally&#8217;s momentum going. 
The Week That Was: High-profile Magnificent Seven earnings panned out mostly positively for the market, with Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) the outlier. The social media giant&#8217;s stock fell sharply as traders fretted over the soft second-quarter revenue guidance and the company&#8217;s massive AI investment plans. 
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) managed to appease the Street despite the double miss as it held out the promise of an expeditious launch of a more affordable EV. 
With the earnings season now halfway through, the percentage of S&amp;P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages, <a href="https://insight.factset.com/sp-500-earnings-season-update-april-26-2024?utm_source=Direct&amp;utm_medium=Email&amp;utm_campaign=FO-04-26-2024&amp;utm_content=httpsinsightfactsetcomsp500earningsseasonupdateapril262024">said </a>FactSet in a report.
The blended first-quarter earnings growth of S&amp;P 500 companies is estimated at 3.5%, up from the 0.6% growth estimated in the week ended April 19, the financial data analytics firm said. If the trend holds, the S&amp;P 500 companies are on track to report earnings growth for the third straight quarter.
Of the 11 S&amp;P sector classes, eight sectors reported year-over-year earnings growth, led by communication services, utilities, IT, and consumer discretionary sectors. On the other hand, healthcare, energy, and materials have reported year-over-year earnings declines.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
Look Ahead: The unfolding week will see 175 S&amp;P 500 companies and 6 Dow 30 components releasing their quarterly scorecards. The earnings roster includes two Magnificent Seven companies, namely Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), e-commerce retailers, payment processors, restaurants, and energy and REIT companies.
Earnings from Apple and Amazon could be market-moving, given the weighting of these stocks in the S&amp;P 500 Index. Also, Apple is considered a bellwether, given its exposure to consumers. Morgan Stanley&#8217;s Erik Woodring expects Apple to report a slightly beat but guide June quarter revenue down. 
Investors are likely to keep a close eye on performance in China, Apple&#8217;s updated capital return framework, and capital expenditures, the analyst said.
That said, the analyst is positive on the stock ahead of its annual Worldwide Developers&#8217; Conference due on June 10th. &#8220;With Apple&#8217;s biggest WWDC event on June 10th, we&#8217;d buy post-earnings weakness,&#8221; he said.
Amazon will likely continue to report double-digit sales and profit growth in the first quarter, according to Telsey Advisory Group analyst Joseph Feldman. The analyst premised his optimism on the strength of online spending, gains from expanded merchandise and faster fulfillment, and stabilization (and growth) of AWS. 
&#8220;Importantly, we expect [a] greater focus on profits supported by the growth of higher margin categories and services, such as advertising, media, and AWS (partly helped by AI-related upgrades), the redesigned distribution network&#8230;.. and cost savings,&#8221; he said.
Notable among the <a href="https://www.benzinga.com/calendars/earnings">companies reporting earnings this week</a> are:
Monday 
<ul>
<li>Before the bell: JinkoSolar Holding Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JKS#NYSE">JKS</a>), ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), Koninklijke Philips N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>), SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>)</li>
<li>After the close: F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>), Everest Group, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>), NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>), Qiagen N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>), Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>), Sanmina Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANM#NASDAQ">SANM</a>), Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>)</li>
</ul>
Tuesday 
<ul>
<li>Before the bell: 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), GE HealthCare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>)</li>
<li>After the close: Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), RenaissanceRe Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), The Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>), Chesapeake Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>)</li>
</ul>

Wednesday 
<ul>
<li>Before the bell: Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>), CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>), The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>), Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>), Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>)</li>
<li>After the close: Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>), Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>)</li>
</ul>
Thursday 
<ul>
<li>Before the bell: ArcelorMittal S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>), Ferrari N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>), Intercontinental Exchange, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), Kimco Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>), Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>), Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>)</li>
<li>After the close: Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>), BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>), Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Consolidated Edison, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>), United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), Regency Centers Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REG#NASDAQ">REG</a>), Reinsurance Group of America, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RGA#NYSE">RGA</a>), Pioneer Natural Resources Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXD#NYSE">PXD</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), Monster Beverage Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>)</li>
</ul>
Friday 
<ul>
<li>Before the bell: American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>), Cboe Global Markets, Inc. (CBOE: CBOE), Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>), The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>), XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>)</li>
</ul>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the performance of the broader S&amp;P 500 Index, ended Friday&#8217;s session up 0.95% at $508.26, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>The ETF has pulled back from its all-time high (intraday) of $524.61 hit on March 28. The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an ETF levered more to high-profile, non-financial tech stocks, rose 1.54% to $431.
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Will Earnings Cheer Continue To Buoy Markets? Apple, Amazon, Pfizer, Coinbase Lead Flurry Of Q1 Reports This Week

Citigroup analyst Jon Tower maintains Yum Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) with a Buy and lowers the price target from $166 to $162.

Citigroup Maintains Buy on Yum Brands, Lowers Price Target to $162

Yum Brands's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) short percent of float has risen 4.98% since its last report. The company recently reported that it has 7.10 million shares sold short, which is 2.53% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.87 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Yum Brands Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713809717_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Yum Brands has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Yum Brands's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Yum Brands's peer group average for short interest as a percentage of float is 9.49%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About Yum Brands?

<a href="https://www.benzinga.com/general/24/01/36493680/mcdonalds-18-big-mac-meal-goes-viral-again-as-fast-food-minimum-wage-hike-to-20-triggers-fears-of-sk">California fast-food employees</a> started earning a minimum of $20 an hour in April.
Thanks to a new law, which went into effect earlier this month, California chain restaurants with at least 60 locations nationwide have to pay their employees more. 
For smaller restaurants, the minimum wage continues to be the statewide bottom of $16 an hour.
The largest publicly-traded fast-food companies include McDonald&#8217;s Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>); Starbucks Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>); Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>), which owns Taco Bell, Pizza Hut and KFC; Wendys Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>); Restaurant Brands International Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>), which owns Burger King; Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>); Papa John&#8217;s International Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>) and Jack in the Box Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JACK#NASDAQ">JACK</a>).
Many of these stocks have lost value since the law was implemented on April 1.
Read Also: <a href="https://www.benzinga.com//node/38083611">AI Gunning For Fast Food Jobs Next? KFC, Taco Bell Operator Yum Brands Planning ChatGPT-Like Bots To Boost Operations</a>
The wage hikes were deemed necessary in the Golden State. After all, the <a href="https://www.rentcafe.com/cost-of-living-calculator/us/ca/">cost of living in California</a> is about 38% higher than the national average.
Some fast food companies are considering cutting employee hours and raising menu prices. 
In-N-Out Burger President Lynsi Snyder said in an <a href="https://www.today.com/video/in-n-out-burger-president-shares-story-behind-family-run-business-208611397732">interview</a> with Today that she "was sitting in VP meetings going toe-to-toe saying, ‘We can't raise the prices that much, we can't.&#8217;"
Her company, which owns over 400 restaurants — primarily in California — continues to be privately held. Snyder said there are no plans to go public or open up to the franchise model.
In-N-Out has, however, raised prices in Los Angeles restaurants by about 25 cents per burger. That&#8217;s still less than the price hikes other restaurants had to implement. 
According <a href="https://nypost.com/2024/04/11/business/in-n-out-president-lynsi-snyder-went-toe-to-toe-to-keep-menu-prices-down/">to</a> the New York Post, one Burger King in Los Angeles raised the price of its Double Texas Whopper by 12% from $15.09 to $16.89.
Many restaurant chains started preparing for wage hikes, even before the law was passed last September. Some companies are exploring automation as a strategy — a <a href="https://www.businessinsider.com/what-self-serve-kiosks-at-mcdonalds-mean-for-cashiers-2017-6">trend</a> that took off in 2017 with self-service ordering kiosks.
Insider <a href="https://www.businessinsider.com/california-fast-food-minimum-wage-order-kiosks-burger-king-popeyes-2024-4">reported</a> that some restaurant franchises, including a major Burger King franchise, are ordering new digital order kiosks to replace existing staff.
Burger King management recently pointed out that customers tend to order larger meals whenever interacting with digital self-service screens.
In October, after California Gov. Gavin Newsom signed the law, McDonald&#8217;s CEO Chris Kempczinski said on the company's third-quarter earnings call he expected the policy to "certainly be a hit in the short term to franchisee cashflow."
Yet the secondary effects of the new law could even replicate into further trouble for the fast food segment in the Golden State. A Jack in the Box franchise owner speculated on Sunday in an <a href="https://www.businessinsider.com/fast-food-california-expensive-diners-could-switch-to-chilis-applebees-2024-4">interview</a> with Business Insider that rising prices for fast food chains could mean a loss in market share to casual diners like Chili&#8217;s, owned by Brinker International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EAT#NYSE">EAT</a>) or Applebee&#8217;s, a subsidiary of Dine Brands Global Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIN#NYSE">DIN</a>).
Casual dining restaurants could, in turn, benefit if they're able to keep running without altering prices.
Now Read: <a href="https://www.benzinga.com//node/37407897">Wendy&#8217;s Clarifies &#8216;Dynamic Pricing&#8217; Comments After Public Outcry, Elizabeth Warren Criticism</a>
Image from MidJourney AI.

JACK

PZZA

Not-So-Happy Meal: $20 Wages Has Burger Joints In This State All Heated

Argus Research analyst John Staszak downgrades Yum Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) from Buy to Hold.

Downgrades

Argus Research Downgrades Yum Brands to Hold

Yum Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>), the parent company of fast food chains like Taco Bell, Pizza Hut, KFC, and Habit Burger Grill, is set to revolutionize its operations by adopting an &#8220;AI-first mentality.&#8221;
What Happened: As detailed in an <a href="https://arstechnica.com/information-technology/2024/04/ai-hype-invades-taco-bell-and-pizza-hut/">Ars Technica article</a>, Yum&#8217;s commitment to AI will span across all facets of the consumer experience. Joe Park, the company&#8217;s chief digital and technology officer, envisions an AI-driven quick-service restaurant operation.
Yum Brands has significantly ramped up its technology and automation investments, with approximately 45% of its sales now stemming from online and app-based ordering and delivery services. The company plans to use AI to profile customers, present personalized offers, boost sales, and attract new patrons.
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38050032/jeff-bezos-convinced-his-siblings-to-invest-10k-each-in-his-online-startup-called-amazon-heres-h?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jeff Bezos Convinced His Siblings To Invest $10K Each In His Online Startup Called Amazon — Here&#8217;s How Mu</a>
AI is slated to permeate every aspect of Yum&#8217;s restaurants—from AI-assisted franchisees to AI-powered kitchen management and delivery platforms. To streamline operations, Yum is experimenting with a ChatGPT-like chatbot for restaurant managers and exploring customer-oriented applications like voice AI for drive-through orders and image recognition to monitor waiting times.
Despite fears over potential job displacement due to AI and automation adoption, Yum Brands emphasizes the crucial role of its employees in the company&#8217;s operations. The company also investigates digitally linked and managed kitchen appliances to optimize operations further.
Why It Matters: This move by Yum Brands comes amid a broader debate about the actual potential and hype surrounding AI. Recently, prominent figures in the industry, such as Mark Zuckerberg and Sam Altman, were <a href="https://www.benzinga.com/news/24/04/38054886/jon-stewart-roasts-bait-and-switch-ai-hype-from-zuckerberg-pichai-altman-and-other-silicon-valley-ch">humorously criticized by Jon Stewart</a> for their lofty promises about AI&#8217;s potential. Meanwhile, the co-founder of Google DeepMind, Sir Demis Hassabis, <a href="https://www.benzinga.com/news/24/04/38017024/google-deepmind-co-founder-voices-concerns-over-ai-hype-were-talking-about-all-sorts-of-things-that">expressed concerns</a> that the surge in AI funding leads to overstated hype that overshadows the actual scientific progress in the sector. Yum Brands&#8217; AI-first approach will put these theories to the test, demonstrating whether AI can truly redefine the fast food experience.
Price Action: YUM shares traded lower by 1.21% at $139.01 at market close on Wednesday.
Photo via Wikimedia Commons
Read Next: <a href="https://www.benzinga.com/news/24/03/38013068/tesla-ceo-elon-musk-reacts-to-apple-co-founder-steve-jobs-on-finding-top-talent-you-build-up-these-p?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla CEO Elon Musk Reacts To Apple Co-Founder Steve Jobs On Finding Top Talent: &#8216;You Build Up These Pock</a>
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Tech

AI Gunning For Fast Food Jobs Next? KFC, Taco Bell Operator Yum Brands Planning ChatGPT-Like Bots To Boost Operations

Yum Brands's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) short percent of float has fallen 12.39% since its last report. The company recently reported that it has 5.37 million shares sold short, which is 1.91% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.34 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Yum Brands Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1711043120_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Yum Brands has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Yum Brands's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Yum Brands's peer group average for short interest as a percentage of float is 9.86%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

(YUM) - Analyzing Yum Brands's Short Interest

JP Morgan analyst John Ivankoe maintains Yum Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) with a Neutral and raises the price target from $133 to $134.

JP Morgan Maintains Neutral on Yum Brands, Raises Price Target to $134

AI remains the core focus; and Fed movement (plus geopolitics of course), the significant risks. 

Market Briefing For Monday, April 29, 2024

Yum! Brands Q1 2024 Earnings Preview

In a report released today, Jeff Bernstein from Barclays maintained a Buy rating on Yum! Brands (YUM – Research Report), with a price target of $14...

Barclays Remains a Buy on Yum! Brands (YUM)

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
In a world of rising costs and economic uncertainty, finding the best <a href="https://investorplace.com/industries/consumer-discretionary/retail/restaurant/">restaurant stocks</a> to buy that maintain healthy profit margins is crucial for investors. The restaurant industry, while known for its competitive nature, offers some hidden gems that possess incredible pricing power.&nbsp;



This pricing power means that they can pass on higher costs to customers without a significant dent in demand. Furthermore, there are companies that are highly diversified owning multiple notable brands that perform well in any macroeconomic environment. Investing in these companies can offer a shield against inflation and provide potential for long term growth.



Now, let&rsquo;s unpack the 3 best restaurants to buy with incredible pricing power in 2024!



<h2>McDonald&rsquo;s Corp (MCD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/07/mdc-1600-300x169.jpg" alt="McDonald's restaurant in Thailand."><div>Source: Tama2u / Shutterstock</div></div>McDonald&rsquo;s (NYSE:<a href="https://investorplace.com/stock-quotes/mcd-stock-quote/">MCD</a>) is one of the most notable restaurant chains and brands in the world. Their diverse menu options, consistency, and operational efficiency allow it to maintain profitability and strong cash flows even amid rising food and labor costs.&nbsp;



McDonald&rsquo;s has carefully cultivated a perception of value. Even in the midst of higher prices, customers still remain loyal to the brand. While consumers have harped on the fact that inflation has caused fast food prices to rise substantially, MCD is honing in on its loyalty rewards program. 



This will not only drive more foot traffic to the restaurant chain but also save customers money with more customized offers. In the 2023 fiscal year, McDonald&rsquo;s comparable sales grew 9% YOY. Systemwide sales from loyalty members surpassed more than $20 billion, as the company continues to streamline its offerings in Google (NASDAQ:<a href="https://investorplace.com/stock-quotes/goog-stock-quote/">GOOG</a>) Cloud. 



With their restaurant expansion plans underway, 2024 could be the start of MCD&rsquo;s ascension to new heights.



<h2>Restaurant Brands International (QSR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/qsr-stock-300x169.jpg" alt="A photo of a Burger King light-up sign outside a Burger King restaurant representing QSR stock."><div>Source: Savvapanf Photo / Shutterstock.com</div></div>Restaurant Brands International (NYSE:<a href="https://investorplace.com/stock-quotes/qsr-stock-quote/">QSR</a>) is a formidable player in the fast food arena, known for its iconic brands like Burger King, Tim Hortons, and Popeyes. This multi-brand approach each appeals to a different consumer segment, increasing its overall pricing power.



Restaurant Brands International&rsquo;s portfolio of unique brands give the company a significant edge in the fast food industry. They are one of the largest restaurant companies in the world with more than 30,000 restaurants in more than 100 countries. 



Furthermore, QSR maintains a relentless focus on cost control, ensuring that price increases don&rsquo;t entirely erode profit margins. In <a href="https://www.rbi.com/English/news/news-details/2024/Restaurant-Brands-International-Inc.-Reports-Full-Year-and-Fourth-Quarter-2023-Results/default.aspx">FY23</a>, revenue increased 8% YOY to $7.02 billion. Global system-wide sales increased 12.2%, with EPS up 16% YOY to $3.76 per share. With substantial scale, operational expertise and better input costs, QSR can mitigate the impacts of inflation on their bottom line. 



This makes QSR stock one of the top restaurant stocks to buy in 2024.



<h2>Yum! Brands (YUM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/yum1600-300x169.jpg" alt="YUM stock: the yum logo on the side of a building"><div>Source: JHVEPhoto / Shutterstock.com</div></div>Yum! Brands (NYSE:<a href="https://investorplace.com/stock-quotes/yum-stock-quote/">YUM</a>) holds a sizable global footprint, owning the powerhouses KFC, Pizza Hut and Taco Bell. Their international reach enables the company to implement price adjustments across diverse markets, reducing its vulnerability to price sensitivities in any one region.



Yum! Brands consistently introduce limited-time offers and value-driven menu options. This strategy is well orchestrated, making customers feel they&rsquo;re getting a good deal even when prices rise for their core menu options. 



While this may seem evil, it is the inevitable game of the restaurant chain business. Moreover, this tactic can help soften the blow of rising prices, while keeping its customers loyal to their brands. The <a href="https://s2.q4cdn.com/890585342/files/doc_financials/2023/q4/Q4-2023-Earnings-Release.pdf">2023 fiscal year</a> was transformative with broad strength across the globe. System-wide sales grew 10% year over year surpassing more than $60 billion while opening up 4,700 new restaurants. 



The company is also ramping up its digital ordering and delivery channels incorporating AI and machine learning to drive growth. 2024 will represent another strong year of global growth, making YUM stock one of the best restaurant stocks to buy now.



On the date of publication, Terel Miles did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Terel Miles is a contributing writer at InvestorPlace.com, with more than seven years of experience investing in the financial markets.</div><h3>More From InvestorPlace</h3>
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Yum! Brands Non-GAAP EPS of $1.15 misses by $0.05

Yum! Brands slides after reporting rare drop in same-store sales

Wingstop is a breakout star amid the sluggish restaurant earnings season

Restaurant stocks are on watch after Starbucks warns on 'cautious' consumer spending

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Yum Brands (NYSE:<a href="https://investorplace.com/stock-quotes/yum-stock-quote/">YUM</a>) just reported results for the first quarter of 2024.<ul><li>Yum Brands reported earnings per share of $1.15. This was below the analyst estimate for EPS of $1.20.</li><li>The company reported revenue of $1.60 billion.</li><li>This was 6.55% worse than the analyst estimate for revenue of $1.71 billion.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/05/yum-stock-earnings-yum-brands-for-q1-of-2024/">YUM Stock Earnings: Yum Brands Misses EPS, Misses Revenue for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

YUM Stock Earnings: Yum Brands Misses EPS, Misses Revenue for Q1 2024

Yum! Brands, Inc. (YUM) Q1 2024 Earnings Call Transcript

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Press Releases

PAR Technology's Punchh® Recognizes Trailblazers in Customer Loyalty with Annual Awards Celebration

Yum! Brands, University of Louisville Launch 'Accelerating Growth' Executive Education Programs to Train Next Generation of Senior Franchise Leaders

IT'S NOT PIZZA, IT'S CHIZZA - KFC® BRINGS THE GLOBAL BESTSELLER TO U.S. MENUS FOR THE FIRST TIME FEBRUARY 26

KFC Surpasses 30,000 Restaurants Worldwide

KFC TAKES FINGER LICKIN' GOOD TO A WHOLE NEW LEVEL WITH NEW SAUCY NUGGETS IN FIVE DRIPPING FLAVORS

KFC® INTRODUCES NEW "TASTE OF KFC DEALS" - A VALUE MENU WITH REAL VALUE - STARTING AT JUST $4.99

Yum! Brands Announces Q1 2024 Earnings and Conference Call Details

Pizza Hut Puts Good on Its Menu with Investments in Sustainably Sourced Cheese with Dairy Farmers of America

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Yum Brands Stock (NYSE:YUM), Short Interest Report

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