Morning Buzz: Yum! Brands (YUM), Axion Power (AXPW), Adobe Systems (ADBE)

Yum! Brands, Inc. (YUM) reported third quarter EPS of $1.00 after the closing bell Tuesday, compared to the consensus estimate of $1.07. Revenues increased 2.2% from last year to $3.43 billion. Analysts expected revenues of $3.68 billion. The parent of KFC, Taco Bell, and Pizza Hut also cut its full-year China forecast, saying that while it remains difficult to forecast China sales, it now estimates full-year same-store sales to be low-single-digit negative.

YUM shares are currently down $13.52, or 16.21%, to $70.79.

Axion Power International Inc. (AXPW) is under heavy pressure this morning, down 43% in early trading after the company announced that the exclusivity period under its Binding Letter of Intent with LCB International expired with no further extension. LCB has indicated an unwillingness to move forward with any deal structure that contemplates anything further than a technology license.

Adobe Systems Incorporated (ADBE) shares plunged 2.35% to $83.15 in pre-market trading after the software company cut its 2016 profit forecast. The Photoshop maker guided FY16 revenues of $5.7 billion, as compared to analysts’ expectations of $5.92 billion. The management also gave its bottom line range of $2.70 per share, against projections of $3.21 per share.

ADBE currently prints a one year return of about 26% and a year-to-date return of around 17%.

Be the first to comment

Leave a Reply

Your email address will not be published.


*