Diamonds and Dogs
Yum Brands (YUM) cooking up something good. The owner of Pizza Hut, Taco Bell and KFC is jumping 6% to new highs following better than expected earnings and sales. Worldwide system sales grew 6% as Pizza Hut broke a five-quarter streak of declining sales. Pizza Hut said it saw no ill effect on sales due to declining NFL viewership unlike rival Papa Johns from the other day.
Newell Brands (NWL) is not bouncing. The owner of such consumer brand names as Paper Mate, Rubbermaid and Graco is down 25% to a three year low after missing profit and sales expectations while also cutting guidance. The company is trying to make a transformational shift in business but is being overshadowed by weak late-quarter sales related to retailer inventory rebalancing following weak back to school sales. The company did announce a billion dollar stock buyback program.
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