Key Developments: Yum! Brands Inc (YUM)
71.51USD
19 Jun 2013
$-0.71 (-0.98%)
$72.22
$72.20
$72.64
$71.33
1,830,838
3,566,894
$74.75
$59.68
Latest Key Developments (Source: Significant Developments)
Yum! Brands Inc Reaffirms FY 2013 EPS Gudiance-Conference Call
Yum! Brands Inc announced that for fiscal 2013, it expects mid single digit EPS decline versus fiscal 2012. The Company reported EPS of $3.25 in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $3.07 for fiscal 2013. Full Article
Yum! Brands Inc Declares Quarterly Dividend Of $0.335 Per Share
Yum! Brands Inc announced that Board of Directors declared a dividend of $0.335 per share of common stock. The quarterly dividend will be distributed August 2, 2013, to shareholders of record at the close of business on July 12, 2013. Full Article
Yum! Brands Inc Issues FY 2013 EPS Guidance In Line With Analysts' Estimates-Conference Call
Yum! Brands Inc announced that for fiscal 2013, it expects mid single digit EPS decline versus fiscal 2012. The Company reported EPS of $3.25 in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $3.06 for fiscal 2013. Full Article
Yum! Brands Inc Updates On Q1 2013 EPS Guidance To A Range Below Analysts' Estimates-Conference Call
Yum! Brands Inc announced that for the first quarter of 2013, it expects EPS excluding special items of $0.70 and EPS of $0.72 for the first quarter of 2013. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.87 for the first quarter of 2013. Full Article
Pomerantz Grossman Hufford Dahlstrom & Gross LLP Reminds Shareholders With Losses On Their Investment In Yum! Brands Inc Of Class Action Lawsuit And Upcoming Deadline
Pomerantz Grossman Hufford Dahlstrom & Gross LLP announced that it has filed a class action lawsuit against Yum! Brands, Inc., (Yum or the Company) and certain of its officers. The class action filed, in United States District Court, for the Central District of California , and docketed under SACV13-173-AG, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of Yum between October 9, 2012 and January 7, 2013, both dates inclusive (the Class Period). This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Throughout the Class Period, the Company's defendants made materially false and misleading statements concerning the Company's current and future business and financial condition. In particular, the complaint alleges that (a) the defendants knew but concealed that Yum's own food safety inspections had already found that Chinese chicken supplier Shandong Liuhe Group had sold the Company chickens with high levels of antibiotics and other illegal drugs and /or chemicals; and (b) the Company had continued to buy products from Shandong Liuhe Group until as late as August 2012. Full Article
Yum! Brands Inc Declares Quarterly Dividend of $0.335 Per Share
Yum! Brands Inc announced that its Board of Directors declared a dividend of $0.335 per share of common stock. The quarterly dividend will be distributed May 3, 2013, to shareholders of record at the close of business on April 12, 2013. Full Article
Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline in Class Action Lawsuit Against Yum! Brands Inc
The Law Offices of Todd M. Garber announced that shareholders of Yum! Brands Inc have until March 25, 2013 to move for lead plaintiff status in the shareholder lawsuit filed in the United States District Court for the Southern District of New York. The lawsuit was filed on behalf of a class (the Class) comprising all purchasers of Yum Brands securities between October 9, 2012 and January 7, 2013, inclusive (the Class Period). The Complaint alleges that throughout the Class Period the defendants misrepresented and/or failed to disclose that: (1) slowing economic trends in China were stronger than reported and could not support forecasted sales results for Yum Brands` China Division or the Company`s increased earnings-per-share growth; (2) defendants knew but concealed that the Company`s own food safety inspections had already discovered high levels of antibiotics and other illegal drugs and/or chemicals in chickens purchased from a Chinese supplier -- Shandong Liuhe Group; and (3) Yum Brands had continued to buy products from Shandong Liuhe Group until as late as August 2012. Full Article
Law Offices of Todd M. Garber Announces Class Action Lawsuit Against Yum! Brands Inc
The Law Offices of Todd M. Garber announced that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of a class (the Class) comprising all purchasers of the securities of Yum! Brands Inc between October 9, 2012 and January 7, 2013, inclusive (the Class Period). On December 20 and 21, 2012 news outlets reported that the Company knew well before October 2012, but sought to conceal, that certain chicken suppliers in China had injected chickens with excessive antibiotics and other illegal chemicals. The Complaint alleges that throughout the Class Period the defendants misrepresented and/or failed to disclose that: (1) slowing economic trends in China were stronger than reported and could not support forecasted sales results for Yum’s China Division or the Company’s increased earnings-per-share growth; (2) defendants knew but concealed that the Company’s own food safety inspections had already discovered high levels of antibiotics and other illegal drugs and/or chemicals in chickens purchased from a Chinese supplier -- Shandong Liuhe Group; and (3) Yum had continued to buy products from Shandong Liuhe Group until as late as August 2012. Full Article
Bernstein Liebhard LLP Announces Securities Class Action Has Been Filed Against Yum! Brands Inc
Bernstein Liebhard LLP announced that a securities class action has been commenced in the United States District Court for the Central District of California on behalf of a class of purchasers of Yum! Brands, Inc. securities between October 9, 2012 and January 7, 2013. The complaint alleges that during the Class Period, defendants made materially false and misleading statements concerning Yum's current and future business and financial condition. As a result of defendants' misleading statements, Yum common stock traded at artificially inflated prices during the Class Period, reaching over $74 per share. On November 23, 2012, reports in the Chinese media disclosed that certain of the Company's chicken suppliers had been feeding toxic chemicals to chickens sold to KFC China. On November 29, 2012, the Company announced that its previous forecast of single-digit to flat China Division same-store sales growth would not be met; instead, the Company expected to report China Division same-store sales of -4%. On these disclosures, Yum's stock price fell nearly 9% to close at $67.08 per share on November 30, 2012. Then, on December 20 and 21, 2012, news reports began to circulate that Yum knew well before the Class Period that certain chicken suppliers in China had injected chickens with excessive antibiotics and other illegal chemicals, but sought to conceal these facts. These disclosures caused Yum's stock price to drop further to a close of $63.88 per share on December 21, 2012. Full Article
Law Offices of Todd M. Garber Announces Investigation of Yum! Brands Inc
The Law Offices of Todd M. Garber announced that it is investigating potential claims against Yum! Brands Inc concerning possible violations of federal securities laws and/or breaches of fiduciary duties by the Company or its fiduciaries. The investigation focuses on allegations that certain statements issued by the Company were false and misleading concerning Yum`s business, operations and financial prospects. Yum, together with its subsidiaries, operates quick service restaurants in the United States and internationally under the KFC, Pizza Hut and Taco Bell brands. Full Article
US STOCKS-Futures point to rebound for Wall St after selloff
NEW YORK, June 12 - U.S. stock index futures rose on Wednesday, pointing to a rebound for Wall Street after a selloff in the previous session, though gains may be tempered by investor wariness over how soon central banks will begin to scale back accommodative policies.
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