Yum! Brands (YUM) Collapses on Earnings

Stocks were up across the board in average volume today. The Dow added 122.10 points to close out the trading day at 16,912.29. The NASDAQ led today in gains, adding 42.79 points to close at 4,791.15. The S&P 500 split the difference, gaining 15.91 points and closing the day at 1,995.83.

In overseas trading, markets were generally up -- although with a few exceptions. The Hang Seng in Hong Kong was down just barely, dropping 1.72 points. In Japan, the Nikkei was up 138 points. Across Europe, markets were up. The CAC in France added 7 points in trading today. The FTSE in London gained 10 points, and Germany’s DAX was up by 68 points.

Yum! (YUM) Brands Collapses on Earnings

Shares of Yum! Brands (YUM) fell by 19% today after the company announced that it would fall short on earnings expectations.
The core of the problem is the slowdown overseas, which Yum! counts on for a major portion of its yearly sales. As the consumer economy in China fails, people are buying less and less food from Yum!. The company posted solid domestic sales, but it missed earnings expectations by quite a bit.

Freeport-McMoRan (FCX) Up Big

Metals concern Freeport-McMoRan (FCX) was up big today, on news that the company has promoted two Icahn associates to the board of directors. The stock has shot up lately, adding 35% over the past 5 days. Shares of the stock continued to add up today, rising another 10%. Freeport-McMoRan gained 1.18 points in trading, and closed out the day at $13.01 per share.

Saudi Prince Buys Into Twitter (TWTR)

A billionaire Saudi Arabian prince has bought into Twitter (TWTR) in a big way, just months after calling for the CEO to step down. The prince bought a 5% stake in Twitter, giving the company’s morale a big boost during these tough times. The prince, Alaweed Bin Talal, bought into Twitter just days after the announcement that CEO Jack Dorsey would stay onboard. This acquisition makes Bin Talal the second largest shareholder of Twitter stock, after CEO and co-founder Evan Williams.
Published on Oct 7, 2015
By Aaron Phillips
Aaron Phillips is a financial researcher and journalist based out of Michigan. He regularly writes the IG Daily and IG Weekly columns.

Copyrighted 2020. Content published with author's permission.

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