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Yum! Brands Expected to Deliver 'Low-Controversy' Q1, RBC Says

Yum! Brands (YUM) is expected to report a "relatively low-controversy" Q1, RBC Capital Markets said Sunday in a report.The Taco Bell US business likely continued to outperform compared with the broader quick-service category, with buy-side same-store sales expectations at least a few hundred basis points above the sell-side's 4.9% estimate, the report said.For KFC International, a key focus in the earnings call will be any impact on international demand from higher fuel prices due to the conflict in the Middle East, the report said.RBC said it doesn't expect a "meaningful" update on Pizza Hut's strategic review with the bidding process likely still underway.RBC maintained its sector perform rating on Yum! stock with a $165 price target.Q1 results are due April 29.Price: $162.74, Change: $-0.05, Percent Change: -0.03%

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Wire61d ago

Market Chatter: Yum! Brands, Papa John's Advancing Sale Processes for Pizza Chains

Yum! Brands (YUM) continues to proceed with the sale process for its Pizza Hut chain, while Papa John's International (PZZA) remains in talks over a potential takeover, Reuters reported Wednesday, citing sources familiar with the matter.Three sources told Reuters that Yum! Brands set a deadline this week, seeking formal bids for Pizza Hut. Interested parties include Apollo Global Management (APO), Sycamore Partners, and LongRange Capital, but there is no guarantee that the firms will submit their offers, the sources added.Meanwhile, two sources told the newswire that Papa John's remains in talks with Irth Capital over a potential acquisition, with a due diligence underway over the past month. Irth Capital had offered to acquire the company for $47 a share in March, according to the report.Yum! Brands, Papa John's International, Apollo Global Management, and Irth Capital did not immediately respond to' requests for comments.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $161.10, Change: $-0.47, Percent Change: -0.29%

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