Skip to main content

Market Overview

Yum Brands Spikes on Good Chinese Data

Share:
Yum Brands Spikes on Good Chinese Data

Shares of Yum Brands (NASDAQ: YUM) spiked in Monday's after-hours session, rallying over 7%, after the company said that Chinese comp sales were better than expected. For February, Chinese comp sales were up 2%; analysts had been expecting comp sales to fall 20%.

Yum Brands owns several fast food companies including Taco Bell and Pizza Hut. Its KFC brand is particularly exposed to China, so much so, that Yum Brand shares frequently tend to trade with developments in the Chinese economy.

Unfortunately for shareholders, Yum took a huge PR hit in China last year after concerns grew about the safety of its Chicken. The company blamed the issue for its poor earnings results in February.

Shares of Yum Brands closed at $67.84 on Monday.

 

Related Articles (YUM)

View Comments and Join the Discussion!

Posted-In: News Global After-Hours Center Movers Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com