|Over a week ago|
Quibi's advertisers look for new deals amid low viewership, WSJ reports » 06:5205/2705/27/20
PEP, YUM, BUD, WMT
Quibi's performance since launching last month has led to advertisers seeking to defer payments and the company looking to cut expenses, Benjamin Mullin and Suzanne Vranica of the Wall Street Journal reported, citing people familiar with the situation. Advertisers, including PepsiCo (PEP), Yum Brands' (YUM) Taco Bell, Anheuser-Busch (BUD) and Walmart (WMT), have asked for the changes reportedly because of concerns about low viewership or the impact of the COVID-19 pandemic. Quibi initially struck advertisement deals valued at $150M before its launch. Reference Link
KFC testing new chicken sandwich in Orlando, Reuters reports » 10:0005/2605/26/20
Yum! Brands unit Kentucky…
Yum! Brands unit Kentucky Fried Chicken will begin testing an overhauled sandwich featuring a bigger chicken filet and other modifications, Hilary Russ of Reuters reports. KFC will sell the new version of its chicken sandwich, which will come come on a brioche bun with thick pickle slices and mayonnaise, for 26 days, or until supplies run out, at 15 locations in and around Orlando, Florida for $3.99, says Russ. Reference Link
Yum! Brands price target raised to $91 from $81 at JPMorgan » 09:2805/2605/26/20
JPMorgan analyst John…
JPMorgan analyst John Ivankoe raised the firm's price target on Yum! Brands (YUM) to $91 from $81 and keeps a Neutral rating on the shares. The analyst believes the Restaurants and Food Service Distribution sector is near fair value "with few, if any, compelling near-term opportunities." High-traffic, destination oriented, bar-focused businesses without drive-throughs or meaningful delivery will likely have the most difficulty recovering previous peak customer counts, Ivankoe tells investors in a research note. McDonald's (MCD) and Wendy's (WEN) are the analyst's two Overweight-rated stocks in the global quick service restaurant space.
Enthusiast Gaming says Vancouver Titans partner with Pizza Hut Canada » 07:3405/2005/20/20
Enthusiast Gaming Holdings (ENGMF) announced that the Vancouver Titans have entered into a new partnership agreement with Pizza Hut Canada (YUM) designating Pizza Hut as the Official Pizza of the team and their fans. Pizza Hut and the Titans will be celebrating fans throughout the season by offering promotions on Titans gamedays including a Titans-focused in-store promotion later this summer.This partnership will kick off with a PSA Campaign encouraging Titans fans to "Stay + Play @Home" as we navigate through the COVID-19 pandemic. Pizza Hut Canada and the Titans will be working with Enthusiast Gaming to engage and reward gamers across Canada for doing their part in helping to flatten the curve.
Fly Intel: Top five analyst upgrades » 10:0705/1505/15/20
NOC, LH, YUM, QSR, AMAT, WIX
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Northrop Grumman (NOC) upgraded to Outperform from Market Perform at Cowen with analyst Cai von Rumohr saying the company is "ideally positioned" for the Department of Defense's National Defense Strategy. 2. LabCorp (LH) upgraded to Buy from Neutral at Mizuho with analyst Ann Hynes saying LabCorp is one of the few companies that can say it is part of the COVID-19 solution. 3. Yum! Brands (YUM) and Restaurant Brands (QSR) were upgraded to Buy from Hold at Stifel. 4. Applied Materials (AMAT) upgraded to Buy from Neutral at B. Riley FBR with analyst Craig Ellis saying last night's fiscal Q2 results were below estimates as feared semiconductor supply issues surfaced, but Q3's color suggests upside while a Q4 quarter-over-quarter growth view provides solid near-term growth visibility. 5. Wix.com (WIX) upgraded to Outperform from Market Perform at Raymond James with analyst Aaron Kessler citing a significant acceleration since April for its website presence solutions. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Restaurant Brands, Yum Brands upgraded to Buy at Stifel » 20:5805/1405/14/20
Stifel analyst Chris…
Stifel analyst Chris O'Cull upgraded Restaurant Brands (QSR) and Yum! Brands (YUM) to Buy as part of a broader research note on Restaurants, stating the rating changes reflect his "increased appetite" in fast food names offering a durable business model and improving consolidated operating performance potential. The analyst is citing his survey of "heavy sit-down restaurant users", with about 67% expressing concerns about returning to a sit-down restaurant because of the lack of social distancing and cleanliness. O'Cull believes that Restaurant Brands and Yum! Brands stand to benefit as all of their brands rely heavily on either drive-thrus or delivery service.
Yum! Brands upgraded to Buy from Hold at Stifel » 20:5105/1405/14/20
Stifel analyst Chris…
Stifel analyst Chris O'Cull upgraded Yum! Brands to Buy from Hold with a price target of $95, up from $87.
|Over a month ago|
Cargill expanding plant-based protein food for China, Reuters says » 10:0504/3004/30/20
Cargill said it will…
Cargill said it will introduce a range of plant-based food products to China following a successful trial of plant-based nuggets by Yum! Holdings (YUM)., according to Reuters. The nuggets, said to match the texture and taste of meat, were available in three KFC outlets, in the cities of Shanghai, Shenzhen and Guangzhou, from April 28 to April 30 and were quickly sold out, said Cargill. Other publicly traded companies in the space include Beyond Meat (BYND). Reference Link
Yum! Brands price target raised to $94 from $85 at Wells Fargo » 08:0604/3004/30/20
Wells Fargo analyst Jon…
Wells Fargo analyst Jon Tower raised the firm's price target on Yum! Brands to $94 from $85 and keeps an Equal Weight rating on the shares. The analyst sees a number of ways Yum! Brands is uniquely positioned to emerge from the COVID-19 crisis stronger and as an outsized share gainer, namely its ability to work with franchisees to shore up liquidity positions, a combination of franchise consolidation and lift in off-premise, and exposure to international markets with more extreme mandated business shutdown/a higher independent mix that could translate into outsized competitor closures and opportunities for the company to gain share.
Yum! Brands reports Q1 SSS down 7% » 07:1104/2904/29/20
Reports Q1 KFC SSS down…
Reports Q1 KFC SSS down 8%, Pizza Hut SSS down 11%, and Taco Bell SSS up 1%.