Taco Bell Moves to Compete with Chipotle, Qdoba

Yum! YUM Brands owned Taco Bell will begin offering premium Mexican items in July. The lineup, backed by celebrity chef Lorena Garcia, will offer a variety of items at higher prices than Taco Bell's traditional menu. Taco Bell isn't undergoing a massive shift in its strategy--it will keep its standard menu--but the new items might allow the company to draw customers away from the likes of Chipotle CMG and Qdoba JACK. Yum! Brands traded down on Friday, falling over 3%. Traders may have sold shares on the company's exposure to China. Yum also owns KFC, which has built up a significant presence in China in recent years.