Yum! Brands craters after a profit hit from its investment in Grubhub (YUM) | Markets Insider

KFC, Taco Bell, and Pizza hut's owner, Yum! Brands, sank in opening trading in New York after reporting its third-quarter earnings.

The fast-food company reported massive declines in profits and earnings per share, as the brand slipped 9% on Wednesday. The company said its investment in Grubhub was in part to blame, taking a $60 million hit from the food delivery service., the owner of Pizza Hut, KFC and Taco Bell, cratered in opening trading in New York, after the brand posted massive losses in its third-quarter earnings.

The fast-food company sank 9% as of 12:07 p.m. in New York, which prior to the opening bell had a market cap of over $33 billion, signalling a $3 billion loss in a single morning in terms of value.Yum!, said in its

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Taco Bell parent Yum posts earnings and revenue that miss expectationsKFC's parent company reported earnings before the bell Tuesday. It’s garbage food Just throw it on the pile of other bad earnings and forget it. It’s “not QE” day! surprise surprise. ppl r not eating as much dog food!
Source: CNBC - 🏆 12. / 72 Read more »

Stocks making the biggest moves premarket: GE, Yum, Molson Coors, Garmin, Amgen & moreThese are the stocks posting the largest moves before the bell.
Source: CNBC - 🏆 12. / 72 Read more »

DTC brands bypassing ad agencies and working with production companies - Business InsiderPopular direct-to-consumer brands like Bombas, Mailchimp, and SmileDirectClub are increasingly bypassing traditional agencies and working directly with production companies
Source: BusinessInsider - 🏆 729. / 51 Read more »