Dernières nouvelles pour Yum Brands (NYSE:YUM) Stock

Yum Brands

Yum Brands is a US-based restaurant operator featuring a portfolio of four brands: KFC (29,900 global units at year-end 2023), Pizza Hut (19,866 units), Taco Bell (8,564 units), and The Habit Burger Grill (381 units). With $64 billion in 2023 systemwide sales, the firm is the second-largest restaurant company in the world behind McDonald's ($130 billion), ahead of Restaurant Brands International ($43 billion) and Starbucks ($29 billion). Yum is 98% franchised, with the largest franchisee, wide-moat Yum China, spun out in 2016, after which Yum China agreed to pay 3% royalties to Yum Brands in perpetuity. Yum is the newest evolution of Tricon, formerly a division of PepsiCo, and generates the bulk of its revenue from franchise royalties and marketing contributions.

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Starbucks Corporation&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sbux#NASDAQ">SBUX</a>) stock is trading just below the Zacks Restaurant industry.&nbsp; With a forward 12-month Price/Earnings ratio of 24.79x, it sits marginally below the industry average of 24.97x. Despite this, SBUX remains priced higher than the broader Retail-Wholesale sector, which stands at 23.96x and the S&amp;P 500, which averages 21.86x.
In the past three months, Starbucks&#39; shares have surged 25.2% compared with the restaurant industry&#39;s 10.9% rise and the S&amp;P 500&#39;s 4.7% rise. Even among the top industry players, SBUX stands tall, outperforming McDonald&#39;s Corporation, which rose 19.2%, and leaving Chipotle Mexican Grill, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cmg#NYSE">CMG</a>), down 7.3%, and Yum! Brands, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yum#NYSE">YUM</a>), up 4.2%, in the rearview.
<h2>Stock Price Performance</h2>
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Image Source: Zacks Investment Research
Technical indicators suggest continued strong performance for SBUX. The stock trades above its 50 and 200-day moving averages, signaling robust upward momentum and price stability. This technical strength underscores positive market sentiment and confidence in SBUX&#39;s financial health and prospects.
<h2>50 &amp; 200-Day Moving Averages</h2>
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<h2>Brian Niccol&#39;s Leadership: A Game Changer for SBUX</h2>
Starbucks&#39; recent stock rally can largely be attributed to the appointment of Brian Niccol as its new CEO, succeeding Laxman Narasimhan. Niccol, known for his successful leadership at Chipotle, where he guided the company through a significant turnaround and drove strong same-store sales growth, brings a wealth of experience to Starbucks.
His expertise in leveraging technology, automation and customer engagement is a perfect fit for Starbucks&#39; evolving needs. Niccol&#39;s strategic focus on efficiency and customer experience is expected to streamline operations and elevate the customer journey, which is crucial for managing Starbucks&#39; expansive and intricate menu offerings.
<h2>Expansion Efforts to Aid SBUX</h2>
The company is continuously focusing on expansion to drive growth. In the fiscal 2020, 2021, 2022 and 2023, the company added 1,400, 1,173, 1,120 and 2,327 net new stores, respectively. During the first-, second- and third-quarter fiscal 2024, the company opened 549, 364 and 526 net new stores. This brings the total global store count to 39,477 as of June 30, 2024, with 52% company-operated and 48% licensed stores. For the fiscal 2024, management projects global store growth to be approximately 6%.
Starbucks&#39; focus on operational excellence, backed by a reinvention plan, resulted in significant improvements. During the fiscal third quarter, out-of-the-window times have improved year over year, customer contact center calls for long order times have been reduced (by nearly 50%) and Mobile Order &amp; Pay and delivery uptime rates have reached 99%. These indicators reflect efforts to enhance customer wait times, product availability and the overall customer experience.
<h2>Menu Innovation Aids SBUX</h2>
In the third quarter, the company experienced a boost in store traffic due to a strong and innovative lineup of products and effective marketing strategies. Their share of cold beverages inched up 1% year over year, accounting for 76% of their beverage sales for the quarter. Customers responded positively to the new Summer-Berry Starbucks Refreshers with Pearls and the revamped iced coffee. Additionally, cold espresso products saw 4% growth year over year.
Building on its successes from the second quarter, SBUX is continuing to expand its product pipeline over the next two years while speeding up innovation. Acknowledging the rising popularity of energy drinks, they introduced new handcrafted iced energy beverages in U.S. locations.
Looking ahead to the fourth quarter, the company anticipates that its product offerings, including the highly-anticipated return of pumpkin spice and targeted marketing efforts, will attract more customers and enhance engagement with new and loyal patrons.
<h2>Comps and Margin Pressure Hurts SBUX</h2>
Starbucks is struggling with a slower recovery in China, facing fierce competition from value-oriented rivals. Global comparable store sales fell 3% in third-quarter fiscal 2024 year over year, driven by a 5% decline in transactions, despite a 2% rise in average ticket size. North America and International sales also decreased by 2% and 7%, respectively, due to cautious consumer spending. The company expects these challenges to persist, forecasting low single-digit declines to flat growth for global and U.S. comps in 2024, with China&#39;s comps projected to drop 12%.
Starbucks&#39; adjusted operating margin declined to 16.7% in third-quarter fiscal 2024, down 70 basis points from the previous year&#39;s tally, primarily due to rising costs from employee investments and promotional activities. However, some losses were offset by pricing strategies and better store efficiencies.
<h2>End Notes</h2>
The Zacks Rank #3 (Hold) company, trading slightly below the restaurant industry&#39;s average, though it remains higher than broader sectors. The stock&#39;s impressive gain in the past three months, outpacing competitors is bolstered by strong technical indicators, as it trades above its 50 and 200-day moving averages. This momentum is attributed to the new CEO, Brian Niccol, whose focus on efficiency and customer engagement is expected to elevate operations.
Its product innovations, particularly in cold beverages, have driven traffic, but challenges remain, including margin pressure and slow recovery in China, affecting global comparable store sales. Despite these headwinds, Starbucks&#39; reinvention plan and operational improvements offer potential, though margins remain under strain from rising costs.
For long-term investors confident in Starbucks&#39; ability to overcome its current challenges and sustain growth, the stock may present a solid value opportunity. However, new investors might want to hold off until there are more evident signs of recovery, especially in the international market, before committing.
<a href="https://www.zacks.com/stock/news/2342528/is-starbucks-stock-a-buy-sell-or-retain-at-24-79x-p-e?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2342528">To read this article on Zacks.com click here.</a>

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SBUX

Is Starbucks Stock a Buy, Sell or Retain at 24.79x P/E?

In a creative move to support job seekers, Pizza Hut, a subsidiary of Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>), has launched &#8216;ResZAmes&#8217; during <a href="https://www.benzinga.com/news/24/09/40809142/brian-niccol-outlines-vision-to-reconnect-starbucks-with-community-coffeehouse-roots-on-his-2nd-day">New York City&#8217;s &#8220;September Surge&#8221; hiring season</a>.
What Happened: Pizza Hut has rolled out &#8216;ResZAmes&#8217; to assist job seekers in New York City during the &#8216;September Surge&#8217; hiring season, the fast food chain announced in a press release on Wednesday.
This initiative allows job applicants to print their resumes on Pizza Hut&#8217;s iconic pizza boxes and deliver them to potential employers. The unique approach aims to help job seekers stand out in a competitive market.
During the &#8216;September Surge,&#8217; a period marked by increased job opportunities at the start of the fourth quarter, Pizza Hut is leveraging its delivery service to help applicants grab employers&#8217; attention.
Each ResZAmes pizza box will include a medium-sized cheese pizza, ensuring the resume is hard to ignore. The service is available for free, and submissions are open at ResZAmes.com until Sept. 22.
&#8220;We know finding a job can be daunting especially during this key hiring season, so we wanted to lend a hand to our job-seeking customers and help them break through the clutter,&#8221; said Melissa Friebe, Pizza Hut&#8217;s Chief Marketing Officer.
See Also: <a href="https://www.benzinga.com/news/24/09/40869086/trump-vs-harris-new-poll-reveals-post-debate-swing-towards-this-candidate-in-key-state?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs Harris: New Poll Reveals Post-Debate Swing Towards This Candidate In Key State</a>
Why It Matters: The launch of &#8216;ResZAmes&#8217; comes at a crucial time for Yum! Brands, Inc. The company recently reported mixed second-quarter results, with <a href="https://www.benzinga.com/news/earnings/24/08/40192611/yum-brands-ceo-gibbs-highlights-8-profit-growth-target-amid-mixed-q2-results-and-digital-sales-surg">total revenues rising</a> 4% to $1.763 billion but missing the consensus of $1.805 billion. 
Despite this, the company saw a 6% increase in GAAP operating profit and a 10% growth in core operating profit, as highlighted by CEO David Gibbs in August.
Moreover, the fast-food industry is witnessing a surge in <a href="https://www.benzinga.com/markets/equities/24/09/40894700/chipotle-introduces-autocado-robot-to-streamline-guacamole-preparation-at-select-california-loca">technological advancements aimed at improving efficiency</a>. For instance, Chipotle Mexican Grill recently introduced the &#8216;Autocado&#8217; robot to streamline guacamole preparation at select California locations.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

NYC Job Seekers Can Now Deliver Resumes In Pizza Boxes To Stand Out During 'September Surge'

JP Morgan analyst John Ivankoe maintains Yum Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) with a Neutral and raises the price target from $137 to $144.

Price Target

JP Morgan Maintains Neutral on Yum Brands, Raises Price Target to $144

TD Cowen analyst Andrew Charles reiterates Yum Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) with a Buy and maintains $156 price target.

Reiteration

TD Cowen Reiterates Buy on Yum Brands, Maintains $156 Price Target

Brian Niccol, on his second day as Starbucks Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) CEO, announced plans to return the company to its roots as a community coffeehouse.
What Happened: Niccol emphasized the need for comfortable seating and a clear distinction between &#8220;to-go&#8221; and &#8220;for-here&#8221; services. He acknowledged that the company has drifted from its core values and is committed to enhancing the in-store experience.
Niccol, known for turning around Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) and Taco Bell owned by Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>), is Starbucks&#8217; fourth CEO in two years. He takes over amid declining sales and pressure from employees and investors.
Starbucks has experienced falling sales for two consecutive quarters. Customers have complained about high prices, slow app orders, and subpar food options. The company has also faced union organizing efforts due to dissatisfaction with working conditions, pay, and benefits.
Niccol plans to empower baristas by providing them with the necessary tools and time to craft quality drinks. He noted that mobile orders often overwhelm stores, leading to a hectic environment.
Despite scrutiny for not relocating to Seattle, Niccol will spend time in stores, at headquarters, and with employees globally.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40769921/palantir-stock-soars-in-monday-premarket-whats-driving-the-surge?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Palantir Stock Soars In Monday Premarket: What&#8217;s Driving The Surge?</a>
Why It Matters: Niccol&#8217;s appointment comes at a critical time for Starbucks. Just a day before his announcement, top Wall Street analysts predicted a <a href="https://www.benzinga.com/news/24/09/40773025/starbucks-to-rally-around-21-here-are-10-top-analyst-forecasts-for-monday">potential 21% rally in Starbucks&#8217; stock</a>, reflecting optimism about his leadership. 
However, Niccol&#8217;s decision to commute between his California home and Seattle headquarters via a company jet has sparked <a href="https://www.benzinga.com/news/24/08/40544276/starbucks-gives-new-ceo-brian-niccol-company-jet-to-fly-to-seattle-hq-sparks-environmental-backlash">environmental concerns</a>. 
Niccol&#8217;s move to Starbucks also led to a rapid <a href="https://www.benzinga.com/markets/equities/24/08/40617033/chipotle-fast-tracks-cfo-appointment-following-ceo-brian-niccols-move-to-starbucks-adam-rymer-to">transition at Chipotle</a>, where Adam Rymer was fast-tracked to the CFO position following Niccol&#8217;s departure. 
Additionally, Starbucks&#8217; international operations have faced challenges. The company&#8217;s operator in Malaysia reported significant losses due to <a href="https://www.benzinga.com/news/earnings/24/08/40606357/starbucks-operator-in-malaysia-hit-hard-by-anti-israel-boycotts-reports-significant-loss">anti-Israel boycotts</a>.
Price Action: Starbucks stock closed at $93.34 on Tuesday, up 1.23% for the day. In pre-market trading, the stock was down 0.17% at the time of writing. However, year to date, the stock is down 0.35%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Brian Niccol Outlines Vision To Reconnect Starbucks With Community Coffeehouse Roots On His 2nd Day As CEO

Shares of Domino&#39;s Pizza, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dpz#NYSE">DPZ</a>) have disappointed investors in the past three months, underperforming the S&amp;P 500 and its Industry. The company&#39;s struggle in international markets for opening and closing stores and high costs has significantly dented the stock.
In the past three months, Domino&#39;s stock has declined by 18% against the industry&#39;s 7.1% rise. In sharp contrast, the S&amp;P 500 increased 6.2% during the same period. As of Aug 27, the stock closed at $418.41, significantly below its 52-week high of $542.75 but above its 52-week low of $330.05. The company also underperformed other industry players like McDonald&#39;s Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mcd#NYSE">MCD</a>), up 16.1%, Yum! Brands, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yum#NYSE">YUM</a>), down 0.1%, and Starbucks Corporation, up 28.3%, in the past three months.
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<h2>What&#39;s Hurting DPZ?</h2>
Domino&#39;s faced a notable setback in its international markets during the recent quarter, with global net new units significantly underperforming the company&#39;s and analysts&#39; expectations. This underperformance was mainly caused by slower net growth in Japan and France, regions managed by one of Domino&#39;s key master franchisees.
DPZ had set its international unit targets based on agreements with its master franchisees, but the company observed that the number of new store openings and closures during the quarter diverged significantly from plans discussed after the first quarter. This unexpected decline raises concerns about the transparency and reliability of Domino&#39;s planning process. As a result, the company decided to suspend its guidance on future unit growth.
Inflationary pressures in commodity and labor costs continue to hurt the company. The industry players expect to witness higher costs for quite some time due to labor shortages. It has been witnessing labor challenges in a handful of markets. During second-quarter fiscal 2024, the general and administrative expenses (as a percentage of revenues) expanded 100 basis points to 10.5% year over year, driven by higher labor costs and expenses for the company&#39;s Worldwide Rally that takes place every two years.
The company anticipates a high inflationary environment for food and labor to persist for some time. For the third and the fourth quarter of fiscal 2024, the company expects supply chain margins to be roughly flat and down, respectively, year over year, factoring in an inflationary food basket for the rest of the year, with a full-year range of up 1-3%.
<h2>Can DPZ Bounce Back?</h2>
Although the company&#39;s near-term stock performance is disappointing, the new loyalty program, menu innovation and the Hungry for MORE strategy bode well.
The company is benefiting from the Hungry for MORE strategy, which primarily focuses on generating MORE sales, MORE stores and MORE profits. The strategic imperatives of this strategy include showcasing the most delicious food, driving operational excellence, delivering renowned value and engaging best-in-class franchisees.
The company is also benefiting from its partnership with Uber to drive sales. For the first six months of fiscal 2024, its same-store sales largely benefited from the sales mix from Uber, which grew to 1.4% in the first quarter and 1.9% in the second quarter. DPZ is optimistic about the incrementality of Uber sales throughout the fiscal 2024. The company expects the U.S. comps to be more than 3% in the fiscal 2024, with the third and the fourth quarter&#39;s comp expectations being 3% or above. Uber sales are expected to grow on the back of accretive marketing and increasing awareness, with Domino&#39;s expecting to finish the fiscal 2024 with an overall sales mix of 3% or more.
Domino&#39;s consistently focuses on diversifying its menu offerings through innovation to reach peak customer satisfaction and expand its market position. During the fiscal second quarter, the company newly launched the New York-Style pizza, which it intends to permanently keep on the menu. This menu offering is said to be outside the deliciousness idea of the prior Domino&#39;s Pizza Offerings. This innovation aims to increase sales and enhance flavor with unique toppings. The company&#39;s Mix &amp; Match offer includes a thin crust option and Domino&#39;s Rewards members can redeem 60 points for a free medium two-topping New York-style pizza. This move demonstrates Domino&#39;s&#39; commitment to value and customer loyalty.
<h2>Estimate Movement &amp; Valuation</h2>
Estimates for DPZ&#39;s 2024 earnings have moved up from $16.00 to $16.23 in the past 60 days. The company&#39;s earnings and sales in 2024 are expected to witness growth of 10.7% and 7.3%, respectively, year over year.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/91/75695.jpg?v=1357325474" />
Image Source: Zacks Investment Research
The stock is trading at 24.16 times forward earnings, which is slightly lower than the industry average of 24.51 and below its one-year median of 26.46.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/d8/75699.jpg?v=1371937326" />
Image Source: Zacks Investment Research
<h2>Buy, Sell, or Hold &ndash; DPZ</h2>
Despite Domino&#39;s recent stock decline, there are compelling reasons for existing investors to hold onto their shares. Domino&#39;s commitment to innovation, such as the introduction of the New York-Style pizza, demonstrates its focus on customer satisfaction and market expansion. The Zacks Rank #3 (Hold) company&#39;s earnings estimates for 2024 have also been revised upward, indicating potential growth despite current headwinds.
For new investors, it may be wise to wait for more stability in the company&#39;s international operations and for inflationary pressures to ease before making a fresh investment. The current challenges and uncertainties suggest that there could be better entry points in the future as DPZ&#39;s works to overcome its recent obstacles.
<a href="https://www.zacks.com/stock/news/2328306/domino-s-stock-falls-18-in-3-months-should-you-buy-the-dip?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2328306">To read this article on Zacks.com click here.</a>

Guidance

Domino's Stock Falls 18% in 3 Months: Should You Buy the Dip?

Yum Brands's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) short percent of float has fallen 15.47% since its last report. The company recently reported that it has 8.91 million shares sold short, which is 3.17% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.91 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Yum Brands Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724790611_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Yum Brands has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Yum Brands's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Yum Brands's peer group average for short interest as a percentage of float is 9.95%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Looking Into Yum Brands's Recent Short Interest

By Doug Young
Four top executives and one non-executive board member of&nbsp;Yum China Holdings Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yumc#NYSE">YUMC</a>), including CEO Joey Wat, purchased a combined total of 18,400 of the company&rsquo;s shares, currently valued at over $620,000, over the past two weeks, after the restaurant operator reported market-beating quarterly results on Aug 6.
Wat purchased 3,800 shares of the company&rsquo;s stock on Aug. 14; Chief Technology Officer Leila Zhang bought 4,000 shares on Aug. 15; Yum China&rsquo;s General Manager for KFC Warton Wang bought 3,700 shares on Aug. 16; and Pizza Hut General Manager Jeff Kuai bought 3,900 shares on Aug. 13, according to stock exchange filings. In addition, newly appointed board member Robert Blaine Aitken Jr. purchased 3,000 shares of the stock on Aug. 16.
Such purchases are highly symbolic, reflecting top management&rsquo;s confidence in the company while also suggesting that the shares remain undervalued.
Yum China, which is dual-listed in the U.S. and Hong Kong, runs more than 15,000 stores in China, including the KFC and Pizza Hut brands. It has been an independent company since its spinoff from&nbsp;Yum Brands&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yum#NYSE">YUM</a>) in 2016.
The company has also been aggressively buying back its stock, spending a collective $249 million in the second quarter on share buybacks and dividends. Yum China has repurchased nearly $1 billion worth of its stock so far this year, with buybacks totaling $2.83 billion since 2017.
The company&rsquo;s U.S. shares rose 12% on Aug. 6 after Yum China reported industry-beating results, which included revenue, profit and margin gains, even as other global restaurant chains reported difficulties in the China market amid a challenging macro environment. The stock maintained those gains and continued to rally slightly in the following week.
Yum China&rsquo;s revenue grew 4% in the second quarter to $2.68 billion on a constant currency basis, roughly double the 2% growth for the broader restaurant sector, as the company opened a net 401 new stores to bring its total to 15,423. The company seized on its market clout and greater efficiencies, including through the rollout of AI-automated &ldquo;iKitchens&rdquo; at its Pizza Hut stores, to boost its core operating profit by 12% year-on-year for the quarter, while increasing overall operating margin to 9.9% from 9.7% a year earlier.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Asia

YUMC

News Wrap: Top Yum China Execs, Board Member Buy Over $600,000 Of Company's Stock

When Starbucks Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) announced Brian Niccol as its new CEO, the company's stock jumped around 20%, adding more than $15 billion in valuation to the coffee giant. 
But, how much is Niccol, the former CEO of Chipotle Mexican Grill (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) actually worth? Niccol joined Chipotle as the company's CEO in 2018, and before that was the CEO of Taco Bell, owned and operated by Yum! Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>). Niccol has amassed stock holdings of both Chipotle and Yum!, as well as Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) where he sits on the board. See Also: <a href="https://www.benzinga.com/markets/equities/24/08/40357698/brian-niccol-is-the-key-to-a-new-starbucks-says-jim-cramer-turnaround-cant-happen-overnight">Brian Niccol Is The &#8216;Key To A New Starbucks&#8217;, Says Jim Cramer: &#8216;Turnaround Can&#8217;t Happen Overnight&#8217;</a><a href="https://www.benzinga.com/markets/equities/24/08/40357698/brian-niccol-is-the-key-to-a-new-starbucks-says-jim-cramer-turnaround-cant-happen-overnight"> </a>Niccol's Net Worth: Through various stock buys and compensation packages, Niccol's stocks are worth more than $300 million, <a href="https://www.benzinga.com/sec/insider-trades/0001628588/brian-r-niccol">according to Benzinga's Insider Trades page. </a>Niccol did, however, begin offloading some of his Chipotle shares in 2023, <a href="https://www.benzinga.com/sec/insider-trades/0001628588/brian-r-niccol">selling in more than 10 different instances. </a>Niccol will continue to grow his stock portfolio with his new gig, with <a href="https://www.cnbc.com/2024/08/14/starbucks-new-ceo-brian-niccol-compensation-chipotle.html">reports </a>indicating that he will receive $85 million in cash and stock from Starbucks as he takes over the struggling coffee company. Starbucks's stock has underperformed the overall market, down more than 6% in the last year against the S&amp;P 500's gain of more than 24% in the same time period. Niccol was able to navigate Chipotle through a difficult time during the COVID-19 pandemic, and continued to grow sales and revenue while other restaurant companies struggled. Read Also: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40343728/starbucks-analysts-mixed-on-new-ceo-brian-niccol-who-led-cmg-stock-650-higher-in-6-">Starbucks Analysts Mixed On New CEO Brian Niccol, Who Led CMG Stock 650% Higher In 6 Years: &#8216;Starbucks Is No Chipotle&#8217;</a></li>
</ul>

New Starbucks CEO Brian Niccol Boosts Company Valuation By Over $15B In One Day: What's His Net Worth?

<h4>Key Takeaways:</h4>
<ul>
<li>Yum China&rsquo;s revenue rose 4% in the second quarter on a constant currency basis, while its core operating profit rose 12%</li>
<li>The company is raising its profits and margins by leveraging AI in its in its customer-facing and back-office operations and taking other efficiency-boosting measures</li>
</ul>
By Doug Young
In economically uncertain times with increasingly cautious consumers,&nbsp;Yum China Holdings Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yumc#NYSE">YUMC</a>) defied the broader market in the second quarter, getting creative with new store formats and deploying AI in its customer-facing and back-office operations to boost both its profits and margins.
The operator of KFC and Pizza Hut restaurants in China turned in solid profit growth and margin expansion in its&nbsp;<a href="https://www.prnewswire.com/news-releases/yum-china-reports-second-quarter-results-302214272.html">latest quarterly report</a>&nbsp;released on Tuesday, even as many of its peers stumbled amid economic headwinds. The company also continued its breakneck expansion in the massive market during the quarter. Yum China wasn&rsquo;t completely immune from the headwinds affecting the market, reporting a small decline in same-store sales.
But even that looked like a relative achievement when compared with&nbsp;Starbucks&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sbux#NASDAQ">SBUX</a>), which last week reported its China same-store sales tumbled 14% in the three months through June.
Despite the current challenging macro environment, Yum China was able to post a 4% year-on-year revenue gain on a constant currency basis to $2.68 billion &ndash; a record for the quarter and faster than China&rsquo;s restaurant sector&rsquo;s average sales growth rate of 2% for the quarter, based on data from China&rsquo;s National Bureau of Statistics. Some of that owed to the company&rsquo;s ongoing aggressive expansion, which saw it open a net 401 new stores during the period, bringing its total to 15,423 and on track to reach its target of opening 1,500 to 1,700 new stores this year.
Notably, about a quarter of the new openings were by franchisees, as Yum China turns to such partners to extend its footprint in harder-to-reach places like university campuses and gas stations. New stores maintained good returns, with around 80% operating profitably within three months.
During the quarter, Yum China also rapidly built up more new product offerings with wider price ranges to capture a bigger share of the market.
Playing on that value-for-money theme, Yum China launched a new Pizza Hut concept store called &ldquo;Pizza Hut WOW&rdquo; in May, catering to more value-conscious consumers. It also detailed aggressive expansion plans for both its recently launched KCOFFEE stores that operate side-by-side with existing KFCs, as well as the new Pizza Hut WOW outlets, which we&rsquo;ll discuss in more detail shortly. Those and other value-oriented initiatives helped to drive a double-digit year-on-year gain in the company&rsquo;s same-store transaction volume during the quarter.
&ldquo;We are navigating a complex and dynamic environment, yes, but we see the many challenges more as opportunities,&rdquo; Yum China CEO Joey Wat said on the company&rsquo;s quarterly earnings call, pointing to three areas where it is focusing to improve its performance. In addition to the KCOFFEE and Pizza Hut WOW initiatives, Wat pointed to the wide range of steps Yum China is taking to improve its operational efficiencies, and to broaden its addressable market by widening its price ranges and expanding product offerings.
The company said that its various initiatives to deploy AI tools into its operations has helped to drive efficiency and help the company navigate market changes.
Pizza Hut, for example, showed higher operational efficiency with the roll out of AI- and automation-enabled &ldquo;iKitchens&rdquo; to enhance food quality and automate back-office tasks like sales forecasting, labor scheduling and inventory management. That allowed the chain to boost its restaurant margin to 13.2% during the quarter. The strong Pizza Hut performance helped to lift Yum China&rsquo;s overall operating margin to 9.9% for the quarter from 9.7% a year earlier. Yum China had its most profitable second quarter since its spinoff from former parent&nbsp;Yum Brands&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yum#NYSE">YUM</a>) in 2016.
Yum China shares rose more than 10% in Hong Kong the day of the report&rsquo;s release and continued to post smaller gains over the next two trading days. The stock is currently down about 25% this year and trades at a discount to its international peers, reflecting broader investor concerns about the Chinese economy.
The company&rsquo;s latest price-to-earnings (P/E) ratio stands at approximately 16, lower than 24 for global giant&nbsp;McDonald&rsquo;s&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mcd#NYSE">MCD</a>) but above 14 for domestic peer, hotpot giant&nbsp;Haidilao&nbsp;(6862.HK). This suggests that China restaurant stocks are relatively undervalued compared to their global peers.
Yum China and its peers are having to contend with a Chinese economy that&rsquo;s slowing after three decades of breakneck growth. China&rsquo;s GDP grew 4% in the second quarter and total retail sales nationwide grew by 2% year-on-year in June.
<h3>Creative Store Formats</h3>
Experimenting with new store formats has become Yum China&rsquo;s latest move to drive incremental sales. The company rolled out side-by-side KCOFFEE stores with their own seating and menus adjacent to existing KFCs in last year&rsquo;s fourth quarter, allowing the coffee shops to be independent while also operating more efficiently by sharing resources like common kitchens. The company added about 200 side-by-side KCOFFEE stores in the second quarter, bringing its total to about 300 in July. It&rsquo;s aiming to roughly double that by year end, aiming for 500-600 stores.
As it ramped up the new KCOFFEE store model, Yum China said it sold 120 million cups of KCOFFEE in the first half of this year, up 36% year-on-year.
The Pizza Hut WOW initiative is newer, with the first stores using the format launched in May this year, aiming to attract more value-conscious consumers with simpler menus and lower entry prices. Yum China converted over 100 existing Pizza Huts to this new format by the end of July, with a target to double this amount by year-end.
The combination of new initiatives, store openings, cost controls and efficiency-boosting measures helped Yum China to not only boost its operating margin but also to keep increasing its profits. The company&rsquo;s net income rose 8% to $212 million, while its core operating profit rose 12% to $275 million. Its earnings per share rose by an even higher 17%, reflecting the company&rsquo;s aggressive share buybacks as part of its broader campaign to return money to shareholders through buybacks and by paying dividends.
The company said it returned $249 million to shareholders through share buybacks and cash dividends in the second quarter, bringing its total spending in that regard to nearly $1 billion in the first half of the year. It added it is on track to return a total of $1.5 billion this year, translating to approximately $500 million in combined dividends and share buybacks planned for the second half of the year.
The company reiterated that it will continue investing in more value-for-money products and take other steps to keep driving transaction growth. It will also continue to streamline operations and improve its supply chain efficiency to enhance its competitiveness and profitability in the long run.
Concurrent with the latest financial report, Yum China also announced that Andy Yeung will step down as CFO at the end of September, while continuing to serve as a senior advisor. Adrian Ding, Yum China&rsquo;s current chief investment officer and general manager of the company&rsquo;s Lavazza joint venture, has been appointed as acting CFO effective Oct. 1.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Yum China Serves Up Profit, Margin Growth Despite Challenging Consumer Landscape

Yum Brands's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) short percent of float has risen 3.02% since its last report. The company recently reported that it has 10.55 million shares sold short, which is 3.75% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.36 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Yum Brands Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1723131031_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Yum Brands has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Yum Brands's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Yum Brands's peer group average for short interest as a percentage of float is 10.32%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) released earnings results for its second quarter Tuesday <a href="https://www.benzinga.com/quote/YUM/earnings">before the opening bell.</a>
Analysts covering the Louisville, Kentucky-based company provided their takes:
<ul>
<li>Goldman Sachs analyst Christine Cho maintained the Neutral rating on Yum! Brands with a price forecast of $150.</li>
<li>Piper Sandler analyst Brian Mullan reiterated the Neutral rating on Yum Brands <a href="https://www.benzinga.com/quote/YUM/analyst-ratings" target="_blank" rel="noreferrer noopener">with a price forecast of $140.</a></li>
<li>BMO Capital Markets analyst Andrew Strelzik has a Market Perform rating on Yum! Brands, with a price forecast of $135.</li>
</ul>
Also Read: <a href="https://www.benzinga.com/news/earnings/24/08/40217156/us-stocks-set-to-extend-gains-despite-mixed-earnings-vix-dips-back-toward-pre-sell-off-levels-analy" target="_blank" rel="noreferrer noopener">US Stocks Set To Extend Gains Despite Mixed Earnings, VIX Dips Back Toward Pre-Sell-Off Levels: Analyst Says Pullback Is A &#8216;Growth Scare&#8217; And Not &#8216;Calamity&#8217;</a>
Goldman Sachs: Cho revised the EBITDA forecasts for FY24, FY25, and FY26 to $2.73 billion, $2.97 billion, and $3.26 billion, respectively, down from $2.73 billion, $2.99 billion, and $3.3 billion.
This adjustment reflects slightly weaker same-store sales growth and revenue trends, which are somewhat mitigated by reduced general and administrative expenses.
Piper Sandler: Mullan writes that while the top line in the year&#8217;s second half will be softer than management was forecasting at the beginning of the year, same-store sales will sequentially improve as the calendar moves from the second quarter <a href="https://www.benzinga.com/earnings" target="_blank" rel="noreferrer noopener">to the third quarter and fourth quarter.</a>
On top of that, the analyst notes that adjusted G&amp;A dollars were down ~9 to 10% in the quarter, and management shared that it expects<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> this line to be down on an FY2024 basis.</a>
As the quarter concludes, analysts anticipate minimal changes to consensus-adjusted EPS estimates for 2024 through 2026. Any potential reductions in sales are expected to be roughly balanced by lower G&amp;A expenses.
Mullan raised the FY25 revenue estimate to $8.078 billion from $7.952 billion.
BMO Capital Markets: Yum Brands owns three major quick-service chains: Taco Bell, Pizza Hut and KFC.
The company appears well-positioned to execute against its long-term growth algorithm over time, and its portfolio should be well-suited for a softer consumer spending environment.
The company continues to leverage G&amp;A expenses to bolster its operating profit outlook.
While optimistic about long-term fundamentals, the analyst currently prefers global fast-food peers such as Domino&#8217;s Pizza Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>), McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), and Restaurant Brands International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>).
Strelzik expects the company to report FY24 revenues of $7.600 billion, and FY25 revenues of $8.093 billion.
Price Action: YUM shares are trading lower by 0.38% to $136.33&nbsp;at last check Wednesday.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40212775/move-over-yen-yuan-carry-trades-could-be-next-ticking-bomb-warns-strategists-but-it" target="_blank" rel="noreferrer noopener">Move Over Yen, Yuan Carry Trades Could Be Next Ticking Bomb, Warns Strategists: &#8216;But It&#8217;s Below The Danger Levels We Monitor&#8217;</a></li>
</ul>
Image: Unsplash

Movers

KFC Owner Yum Brands Sees Slower Sales Growth, Goldman Sachs Analyst Revises Forecast

Deutsche Bank analyst Lauren Silberman maintains Yum Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) with a Hold and raises the price target from $143 to $147.

Deutsche Bank Maintains Hold on Yum Brands, Raises Price Target to $147

Baird analyst David Tarantino maintains Yum Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) with a Outperform and raises the price target from $150 to $154.

Baird Maintains Outperform on Yum Brands, Raises Price Target to $154

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the &#8220;Extreme Fear&#8221; zone on Tuesday.
U.S. stocks settled higher on Tuesday, recovering some losses from the prior three sessions.
On the economic data front, the trade deficit in the U.S. shrank to $73.1 billion in June versus the revised gap of $75 billion in the previous month. However, analysts were expecting a gap of $72.5 billion. Exports increased by 1.5% to $265.9 billion in June.
Various megacap tech shares recovered on Tuesday following a sharp decline in the prior session. NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares gained 3.8%, while Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) shares added 3.9% during the session.
Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) <a href="https://www.benzinga.com/news/earnings/24/08/40199526/s-p-500-surges-over-2-caterpillar-earnings-beat-estimates">reported better-than-expected</a> second-quarter financial results on Tuesday. Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) reported stronger-than-expected quarterly earnings on Tuesday.
All sectors on the S&amp;P 500 closed on a positive note, with real estate, communication services, and financials stocks recording the biggest gains on Tuesday.
The Dow Jones closed higher by around 294 points to 38,997.66 on Tuesday. The S&amp;P 500 surged 1.04% at 5,240.03, while the Nasdaq Composite climbed 1.03% at 16,366.85 during Monday's session.
Investors are awaiting earnings results from McKesson Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCK#NYSE">MCK</a>), The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), and CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 20.9, the index remained in the &#8220;Extreme Fear&#8221; zone on Tuesday, versus a prior reading of 16.4.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40194186/top-4-materials-stocks-which-could-rescue-your-portfolio-this-month">Top 4 Materials Stocks Which Could Rescue Your Portfolio This Month</a></li>
</ul>

NVDA

Dow Snaps 3-Session Losing Streak As Nvidia, Meta, And Other Tech Stocks Surge: Greed Index Remains In 'Extreme Fear' Zone

Despite the recent market turmoil, Jim Cramer has offered a reassuring perspective, suggesting that the current corporate earnings do <a href="https://www.benzinga.com/news/24/08/40177780/i-do-not-think-the-us-economy-is-in-recession-sahm-rule-creator-refutes-claims-amid-market-turmoil">not indicate an impending recession</a>.
What Happened: CNBC host Cramer shared his insights on the corporate earnings reports, indicating that they do not signal a serious recession. He emphasized that the microdata from individual companies&#8217; reports does not support the notion of an imminent recession, <a href="https://www.cnbc.com/2024/08/06/cramer-says-tuesdays-earnings-dont-indicate-a-serious-recession.html">reported</a> CNBC on Tuesday.
"I think we're in a recessionless recession because I follow the actual micro data from individual companies that report," Cramer said. "When you run down the companies that reported in the last 24 hours, it's very hard to make the case that we're headed for a serious recession from here."
He highlighted the strong performance of companies such as Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) and Builders FirstSource, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLDR#NYSE">BLDR</a>), which exceeded expectations. Cramer also pointed out the encouraging results from consumer discretionary companies like Uber Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), Molson Coors Beverage Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), Planet Fitness Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>), and Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>).
&#8220;There was just great quarter after great quarter after great quarter this morning. They just can&#8217;t be seen by those who refuse to do the homework and only listen to central bankers,&#8221; Cramer said.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40154562/fed-may-be-bullied-into-50-bps-cut-in-september-says-mohamed-el-erian-as-global-mar?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Fed May Be &#8216;Bullied&#8217; Into 50 BPS Cut In September, Says Mohamed El-Erian, As Global Markets Melt Down</a>
Why It Matters: Cramer&#8217;s comments come amid a period of economic uncertainty and market volatility. Despite the fears of a recession, several experts have expressed a contrary view. 
For instance, economist Claudia Sahm, who developed the Sahm Rule, has stated that she <a href="https://www.benzinga.com/news/24/08/40177780/i-do-not-think-the-us-economy-is-in-recession-sahm-rule-creator-refutes-claims-amid-market-turmoil">does not believe the U.S. economy is in a recession</a>. 
Similarly, veteran Wall Street investor Ed Yardeni has <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40170709/veteran-wall-street-analyst-counters-recession-fears-we-dont-expect-a-hard-landing-">challenged the recession fears</a>, asserting that he does not expect a hard landing.
Despite the ongoing debate, the market has been experiencing significant fluctuations. The possibility of an emergency rate cut by the Federal Reserve was even speculated <a href="https://www.benzinga.com/economics/macro-economic-events/24/08/40203305/should-fed-make-an-emergency-cut-before-september-meeting-no-not-even-close-analy">after recent shockwaves</a> in the interest rate markets. However, the implied probability of a Fed emergency rate cut in 2024 dropped sharply to 14% by Tuesday.
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<li><a href="https://www.benzinga.com/government/24/08/40164105/potential-iranian-attack-on-israel-could-rattle-markets-what-happened-to-stocks-when-russia-invaded?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Potential Iranian Attack On Israel Could Rattle Markets: What Happened To Stocks When Russia Invaded Invaded Ukraine?</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Economics

BLDR

PLNT

UBER

Jim Cramer Says 'We're In A Recessionless Recession,' Points To Uber And Other Strong Corporate Earnings As Reassuring Sign

As the stock market grapples with volatility, four major stocks—Visa Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), Macy&#8217;s Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>), Yum! Brands Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>), and Target Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) are signaling a concerning technical pattern known as <a href="https://www.benzinga.com/topic/death-cross">the Death Cross</a>.
This ominous indicator typically signals potential downward momentum when a stock&#8217;s short-term moving average falls below its long-term moving average. With these key stocks hovering near this critical juncture, investors are on high alert. Here&#8217;s a look at the technical indicators and what they might mean for these companies.
<h2 class="wp-block-heading">Visa Stock &#8211; A Dip In The Bullish Momentum</h2>
Visa&#8217;s performance has shown strength over the past year with a 7.45% increase but faces a negative turn in 2024, down 0.32% year-to-date. The current technical signals paint a worrying picture for Visa as it nears a death cross.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent080624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="632" height="457" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06140613/Screenshot-2024-08-06-at-11.25.56-PM.png" alt="" class="wp-image-479786" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06140613/Screenshot-2024-08-06-at-11.25.56-PM.png 632w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06140613/Screenshot-2024-08-06-at-11.25.56-PM-300x217.png 300w" sizes="(max-width: 632px) 100vw, 632px" /></a></figure>
<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent080624&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
<ul>
<li>Current Price: $259.44</li>
<li>50-Day SMA: $268.40</li>
<li>200-Day SMA: $267.27</li>
</ul>
Visa&#8217;s share price is trading below all its short- and long-term moving averages, indicating a strongly bearish trend. The 8-day SMA falling below the 20-day and 50-day SMAs signifies that the stock is experiencing sustained selling pressure. With the 50-day SMA approaching the 200-day SMA, a death cross may soon confirm Visa&#8217;s potential bearish movement.
<h2 class="wp-block-heading">Macy&#8217;s Stock &#8211; A Turnaround On The Horizon?</h2>
Macy&#8217;s stock has taken a significant hit, with a 2.90% 1-year decline and a substantial 22.59% year-to-date drop. However, amid this bearish sentiment, Macy&#8217;s is showing some buying pressure, offering a glimmer of hope for bullish investors.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent080624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="632" height="457" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06140738/Screenshot-2024-08-06-at-11.26.16-PM.png" alt="" class="wp-image-479787" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06140738/Screenshot-2024-08-06-at-11.26.16-PM.png 632w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06140738/Screenshot-2024-08-06-at-11.26.16-PM-300x217.png 300w" sizes="(max-width: 632px) 100vw, 632px" /></a></figure>
<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent080624&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
<ul>
<li>Current Price: $15.58</li>
<li>50-Day SMA: $18.09</li>
<li>200-Day SMA: $17.99</li>
</ul>
Despite the current trend being strongly bearish, with Macy&#8217;s share price trading below its moving averages, the buying pressure could signal a potential shift. Still, the impending death cross indicates that the short-term challenges might persist before any meaningful recovery takes place. Investors should watch closely as the stock&#8217;s performance could swing either way depending on market sentiment.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/07/39989716/not-lovin-it-mcdonalds-stock-faces-bearish-headwinds-ahead-of-q2-earnings">Not Lovin&#8217; It: McDonald&#8217;s Stock Faces Bearish Headwinds Ahead Of Q2 Earnings</a>
<h2 class="wp-block-heading">Yum! Brands Stock &#8211; Bucking The Trend</h2>
Yum! Brands stands apart from the others, with its stock trending positively, showing a 2.15% 1-year gain and a 5.61% increase year-to-date. The current technical outlook suggests that YUM is positioned for further gains, despite slight selling pressure.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent080624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="632" height="457" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06140847/Screenshot-2024-08-06-at-11.26.32-PM.png" alt="" class="wp-image-479789" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06140847/Screenshot-2024-08-06-at-11.26.32-PM.png 632w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06140847/Screenshot-2024-08-06-at-11.26.32-PM-300x217.png 300w" sizes="(max-width: 632px) 100vw, 632px" /></a></figure>
<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent080624&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
<ul>
<li>Current Price: $138.27</li>
<li>50-Day SMA: $133.02</li>
<li>200-Day SMA: $132.46</li>
</ul>
Unlike Visa and Macy&#8217;s, Yum Brands is exhibiting a bullish pattern, with its share price above the moving averages, signaling strong buying momentum. The 50-day SMA being above the 200-day SMA provides additional bullish confirmation. However, the stock&#8217;s approach towards a death cross raises caution, and investors should monitor if the trend continues to remain positive or if a reversal might occur.
<h2 class="wp-block-heading">Target Stock &#8211; Navigating A Bearish Path</h2>
Target has experienced a modest 2.58% increase over the past year, but the 5.4% decline year-to-date shows signs of weakness, with technical indicators suggesting a bearish outlook.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent080624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="632" height="457" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06140957/Screenshot-2024-08-06-at-11.26.44-PM.png" alt="" class="wp-image-479791" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06140957/Screenshot-2024-08-06-at-11.26.44-PM.png 632w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06140957/Screenshot-2024-08-06-at-11.26.44-PM-300x217.png 300w" sizes="(max-width: 632px) 100vw, 632px" /></a></figure>
<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent080624&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
<ul>
<li>Current Price: $135.40</li>
<li>50-Day SMA: $147.34</li>
<li>200-Day SMA: $146.52</li>
</ul>
Target&#8217;s current share price is below its moving averages, reflecting a strongly bearish sentiment. The 8-day and 20-day SMAs are well below the 50-day SMA, indicating strong selling pressure and the risk of a death cross formation. This bearish trajectory suggests that Target may face additional headwinds before it can find support or recovery.
<h2 class="wp-block-heading">What The Death Cross Means For Investors</h2>
The death cross is a widely-watched technical signal that often precedes sustained downward movement. While it&#8217;s not a definitive predictor of a stock&#8217;s future, it does highlight potential bearish momentum. Investors should approach these stocks with caution, keeping a close eye on market trends, economic indicators, and company-specific developments.
The looming death cross across these major stocks—Visa, Macy&#8217;s, Yum! Brands, and Target—raises important questions for investors. While some, like Yum! Brands, might show resilience, others face potential downturns that warrant careful scrutiny. As the markets continue to react to these technical signals, investors will need to stay vigilant and adapt to the evolving landscape, considering both short-term risks and long-term opportunities.
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Photo: Shutterstock

Caution Ahead: Visa, Macy's, Yum Brands, Target Stocks Near A Death Cross

U.S. stock markets saw a strong recovery on Tuesday, with both the S&amp;P 500 and the Nasdaq 100 climbing over 2%, nearly offsetting Monday&#8217;s losses. Investors took advantage of recent volatility to buy the dip, showing continued confidence in the U.S. economy&#8217;s ability to avoid a recession. 
Gains were observed in both small-cap and blue-chip stocks, reflecting broad improvement in market sentiment.
The CBOE Volatility Index (VIX), often referred to as the market&#8217;s fear gauge, decreased by almost 40% on Tuesday after spiking 65% on Monday. 
According to the FedWatch Tool, the likelihood of a 50-basis-point interest rate cut decreased to 90% Monday to 64% Tuesday. 
As traders reassess Fed rate cuts, Treasury yields increased during the day, with the 10-year yield rising by 11 basis points to 3.9% and the two-year yield climbing 9 basis points to 4.01%.
The rebound of the U.S. dollar was supported by rising yields and diminished expectations of a larger Federal Reserve rate cut in September. The dollar increased by 0.8% against the low-yielding Japanese yen, breaking a streak of five consecutive days of losses.
In terms of macroeconomic data, the day was relatively quiet, with only June&#8217;s trade figures making news. The U.S. trade deficit narrowed to $73.1 billion in June 2024 from a revised 20-month high of $75 billion in May, slightly above market forecasts of a $72.5-billion gap. Exports increased by 1.5% to $265.9 billion, the second-highest on record, while imports grew by a more modest 0.6% to $339 billion.
Gold and oil prices both decreased by 0.7% and 0.8%, respectively, marking their fourth consecutive session of declines.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rebounded by 4.9% after experiencing a 7% drop on Monday.
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,312.03</td>
<td>2.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,295.41</td>
<td>2.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,081.01</td>
<td>1.9%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,301.11</td>
<td>1.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:55 p.m. ET </figcaption></figure>
According to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent080624&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was trading 2.2% higher to $528.42.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 1.7% to $393.21.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 2.4% to $445.63.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 1.9% to $206.06.</li>
<li>All 11 sectors of the S&amp;P 500 saw gains, with the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) leading the way, increasing by 3.1%. The Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) witnessed the smallest gain, up 1.4%.</li>
</ul>
<h3 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h3>
<ul>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) rallied over 6%, snapping three straight session of losses. </li>
<li>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) soared over 5%, marking its best one-day surge in a month. </li>
</ul>
Stocks reacting to company earnings included: 
<ul>
<li>ADTRAN Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTN#NASDAQ">ADTN</a>), down by nearly 18%, </li>
<li>Caterpillar, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), up 3.8%,</li>
<li>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>), up 6.9%,</li>
<li>CSX Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>), up 3.7%,</li>
<li>Duke Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>), up 2.3%,</li>
<li>Expeditors International of Washington, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXPD#NYSE">EXPD</a>), down 4.4%,</li>
<li>Fox Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>), up 6.7%,</li>
<li>GLOBALFOUNDRIES Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GFS#NASDAQ">GFS</a>), down 1%,</li>
<li>Hyatt Hotels Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/H#NYSE">H</a>), down 0.7%,</li>
<li>Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) up 9%, </li>
<li>Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), up 6.8%,</li>
<li>Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) up 12.3%, </li>
<li>Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), up 11%</li>
<li>Teradata Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDC#NYSE">TDC</a>) down about 14%,</li>
<li>WK Kellogg Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KLG#NYSE">KLG</a>) down 6.7%,</li>
<li>Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) up 3.7%,</li>
<li>ZoomInfo Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZI#NASDAQ">ZI</a>), down nearly 19%.</li>
</ul>
Companies reporting after the close are Airbnb, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>), Coupang, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPNG#NYSE">CPNG</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), Cirrus Logic, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRUS#NASDAQ">CRUS</a>), Exelixis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXEL#NASDAQ">EXEL</a>), Fortinet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>), GoPro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GPRO#NASDAQ">GPRO</a>), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Jack in the Box Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JACK#NASDAQ">JACK</a>), IAC Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IAC#NASDAQ">IAC</a>), Tripadvisor, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRIP#NASDAQ">TRIP</a>), Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>), Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>), Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>), Wynn Resorts, Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NASDAQ">WYNN</a>) and Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>).
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Photo via Shutterstock.

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Wall Street Rebounds After Selloff, VIX Falls, Dollar Surges Against Yen: What's Driving Markets Tuesday?

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 250 points on Tuesday.
The Dow traded up 1.11% to 39,133.65 while the NASDAQ rose 1.71% to 16,477.42. The S&amp;P 500 also rose, gaining, 1.66% to 5,272.52.
Leading and Lagging Sectors Real estate shares climbed by 2.2% on Tuesday.
In trading on Tuesday, energy shares rose by 0.7%.
Top Headline
 Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) reported better-than-expected quarterly earnings on Tuesday.
The company reported second-quarter adjusted earnings per share of $1.35, beating the street view of $1.33. Total revenues rose 4% to $1.763 billion, missing the consensus of $1.805 billion. GAAP operating profit rose by 6%, while core operating profit grew 10%.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>TG Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TGTX#NASDAQ">TGTX</a>) shares shot up 23% to $21.10 after the company reported better-than-expected quarterly financial results and raised its FY24 Briumvi U.S. net product revenue. The company entered into a term loan facility with Blue Owl Capital.</li>
<li>Shares of Clear Secure, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YOU#NYSE">YOU</a>) got a boost, surging 26% to $24.60 after the company reported better-than-expected second-quarter financial results and issued third-quarter revenue guidance above estimates.</li>
<li>Lumen Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUMN#NYSE">LUMN</a>) shares were also up, gaining 74% to $4.4999 after the company announced it secured $5 billion in new business from companies seeking to secure their fiber capacity.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Elevation Oncology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELEV#NASDAQ">ELEV</a>) shares dropped 58% to $0.8975 following second-quarter results.</li>
<li>Shares of Jumia Technologies AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JMIA#NASDAQ">JMIA</a>) were down 48% to $5.47 after the company reported worse-than-expected quarterly sales results.</li>
<li>ThredUp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TDUP#NASDAQ">TDUP</a>) was down, falling 49% to $0.8861 following second-quarter results.</li>
</ul>
Commodities In commodity news, oil traded up 0.6% to $73.41 while gold traded down 0.8% at $2,424.70.
Silver traded down 0.4% to $27.11 on Tuesday, while copper rose 0.9% to $4.0345.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 rose 0.18%, Germany's DAX fell 0.1% and France's CAC 40 fell 0.44%. Spain's IBEX 35 Index fell 0.45%, while London's FTSE 100 rose 0.14%.
Retail sales in the Eurozone declined 0.3% month-over-month in June following a 0.1% gain in May. The HCOB Eurozone construction PMI declined to 41.4 in July, recording the lowest reading in six months.
The S&amp;P Global UK construction PMI rose to 55.3 in July from 52.2 in June, while France construction PMI declined to 39.7 in July from 41 in June. The HCOB Germany construction PMI rose to 40 in July versus 39.7 in June. Retail sales in the UK climbed 0.3% year-over-year in July compared to a 0.5% decline in June.
Asia Pacific Markets
Asian markets closed mostly higher on Tuesday, with Japan's Nikkei 225 jumping 10.23%, Hong Kong's Hang Seng Index gaining 0.31%, China's Shanghai Composite Index rising 0.23% and S&amp;P BSE Sensex declining 0.21%.
Household spending in Japan declined by 1.4% year-over&#8211;year in June following a 1.8% decline in the previous month.
Economics
<ul>
<li>The Logistics Manager's Index rose to 56.5 in July, recording the strongest reading in four months, and up from 55.3 in June.</li>
<li>The trade deficit in the U.S. shrank to $73.1 billion in June versus the revised gap of $75 billion in the previous month. However, analysts were expecting a gap pf $72.5 billion. Exports increased by 1.5% to $265.9 billion in June.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/08/40188563/this-crowdstrike-analyst-turns-bullish-here-are-top-5-upgrades-for-tuesday">This CrowdStrike Analyst Turns Bullish; Here Are Top 5 Upgrades For Tuesday</a>

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