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NEW YORK— U.S. stocks are edging higher in early trading as traders pore over more earnings news. Yum Brands rose 4 percent Wednesday after reporting higher global sales at Taco Bell and KFC. In Japan, the Nikkei 225 closed above 20,000 for the first time in 15 years.
OAK BROOK, Ill.— McDonald's first-quarter profit fell, partly because of sliding sales, costs to close underperforming restaurants and a stronger dollar. For the first quarter, McDonald's earned $811.5 million, or 84 cents per share, for the period ended March 31. That compares with $1.2 billion, or $1.21 per share, a year earlier.
Some of the names on the move ahead of the open.
RJ Hottovy, global director of Consumer Equity Research at Morningstar, explains why Yum's first-quarter earnings may have alleviated concerns over last year's food scandal.
"Fast Money" traders discussed their restaurant stock picks after big post-earnings moves in Chipotle and Yum Brands.
Brinker International Inc. fell $2.18 or 3.7 percent, to $56.84. Chipotle Mexican Grill Inc. rose $5.59 or. 8 percent, to $692.52. Darden Restaurants Inc. rose$. 07 or. 1 percent, to $65.29.
Earnings retain the spotlight on Wednesday, with several more blue chips and technology heavyweights set to report.
Yum! Brands is moving higher after hours, with CNBC's Jane Wells. Same-store sales fell 12 percent in China, better-than-expected.
Check out the companies making headlines after the bell Tuesday: Amgen, Yahoo, Chipotle & more.
April 21- Yum Brands Inc, owner of KFC and Pizza Hut chains, on Tuesday said business in its biggest market China is recovering from a meat scare at one of its minor suppliers and that the division would finish the year strong. Yum is making "continued progress" in China, Chief Executive Greg Creed said in a statement. "We will deliver full-year EPS growth of at least 10...
LOUISVILLE, Ky.— Yum Brands Inc.' s first-quarter profit fell but still topped Wall Street expectations as global sales jumped at its Taco Bell and KFC brands. The parent company of KFC, Taco Bell and Pizza Hut reported a profit of $362 million, or 81 cents per share, for the quarter that ended on March 21, down 9 percent from $399 million, or 87 cents per share, the year...
April 21- Yum Brands Inc, owner of KFC and Pizza Hut, said on Tuesday that sales at established restaurants in its biggest market China fell less than expected for the first quarter as it works to recover from a food scandal involving a minor supplier. Same-restaurant sales in China, Yum's No. 1 market for revenue and profit, declined 12 percent for the latest quarter...
Yum! Brands is reporting Q1 EPS of $0.80 adjusted on revenue of $2.62 billion, with CNBC's Jane Wells.
Yum shares rallied after the restaurant operator topped earnings expectations as comparable sales in China declined less than forecast.
U.S. stocks closed mixed, mostly failing to hold momentum from Monday, as investors reacted to individual earnings reports of major companies.
Brinker International Inc. fell $1.26 or 2.1 percent, to $57.76. Chipotle Mexican Grill Inc. rose $7.37 or 1.1 percent, to $694.30. Darden Restaurants Inc. rose$. 03 or percent, to $65.25.
Travelers, DuPont and IBM weighed the most on the Dow industrials. IBM also mentioned currency effects when it reported a fall in revenue late on Monday. Dupont was down 2.6 percent at $70.92 and IBM fell 1 percent to $164.41.
Taco Bell has returned to Japan, re-opening its first outlet in decades as more U.S. restaurants plan to open shop in the country.
Brinker International Inc. fell $2.14 or 3.6 percent, to $56.88. Chipotle Mexican Grill Inc. rose $7.81 or 1.1 percent, to $694.74. Darden Restaurants Inc. fell$. 36 or. 5 percent, to $64.86.
*Dow components Verizon, DuPont and United Tech beat estimates. *Yahoo, Chipotle, Yum to report after markets close. Mylan rose as much as 9.4 percent to a record high of $74.44 after Israeli drugmaker Teva made an unsolicited offer of $82 per share, in what could be the drug industry's largest takeover this year.