Yum! Brands owns three of the most-popular fast-food brands in the world: KFC, Pizza Hut, and Taco Bell. The company and its franchisees operate more than 61,000 restaurants in 140 countries and territories. YUM is a leader in multibranding, offering combinations of its KFC, Taco Bell, Pizza Hut, and Habit Burger & Grill brands at single locations. It has spun off its China business into a separately traded company. With a market cap of about $41.9 billion, YUM is generally classified as a large-cap growth stock.

Stocks are up at midday, with the Nasdaq rallying on strong tech earnings. Weekly jobless claims reported this morning showed a sharp increase. The number reported for the week was 241,000, which compares to readings closer to 200,000 for most of the year and the four-week moving average of 226,000. We're not worried yet about the economy, despite yesterday's report that GDP outright declined in 1Q, but these trends are beginning to head in a negative direction. Tomorrow's nonfarm payrolls report will indeed be a critical indicator.

Yum Brands is a US-based restaurant operator featuring a portfolio of four brands: KFC (31,981 global units at year-end 2024), Pizza Hut (20,225 units), Taco Bell (8,757 units), and Habit Burger & Grill (nearly 400 units). With more than $65 billion in 2024 systemwide sales, the firm is the second-largest restaurant company in the world behind McDonald’s ($131 billion), ahead of Restaurant Brands International ($44 billion) and Starbucks ($30 billion). Yum is 98% franchised, with the largest franchisee, Yum China, spun out in 2016, after which Yum China agreed to pay 3% royalties to Yum Brands in perpetuity. Yum is the newest evolution of Tricon, formerly a division of PepsiCo, and generates the bulk of its revenue from franchise royalties and marketing contributions.

Yum Brands is a US-based restaurant operator featuring a portfolio of four brands: KFC (31,981 global units at year-end 2024), Pizza Hut (20,225 units), Taco Bell (8,757 units), and Habit Burger & Grill (nearly 400 units). With more than $65 billion in 2024 systemwide sales, the firm is the second-largest restaurant company in the world behind McDonald’s ($131 billion), ahead of Restaurant Brands International ($44 billion) and Starbucks ($30 billion). Yum is 98% franchised, with the largest franchisee, Yum China, spun out in 2016, after which Yum China agreed to pay 3% royalties to Yum Brands in perpetuity. Yum is the newest evolution of Tricon, formerly a division of PepsiCo, and generates the bulk of its revenue from franchise royalties and marketing contributions.