Market Roundup

Shares of UDR Inc (NYSE: UDR) gained about 1.7% after the company raised its projections for full-year funds from operations. UDR agreed to pay $687 million for two home communities in New York and one in Washington D.C. UDR also announced its plans to sell 15 million shares in a public offering.

Shares of Yum! Brands Inc (NYSE: YUM) gained about 2.5% as the company is all set to report its quarterly results after the closing bell. YUM is projected to report its Q2 EPS at $0.61 on revenue of $2.70 billion.

Shares of Fidelity National Financial Inc (NYSE: FNF) gained about 0.7% after WRM America Holdings announced its plans to acquire the flood insurance business of FNF for $210 million. The deal is likely to close in the fourth quarter of 2011.

Shares of Burberry Group PLC (OTC: BURBY) surged about 5.4% after the group reported a 26% rise its total revenue for the three months ended June 30. Burberry's revenue surged to 367 million pounds ($585 million). Excluding its discontinued Spanish business and the impact of fluctuating exchange rates, Burberry's underlying sales jumped 34%. Analysts were expecting total sales of 344 million pounds. Burberry's comparable store sales increased 15% excluding China.

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