Reuters Insider - U.S. Morning Call: Yum! brands, Virgin America on the move
24/03/2016 16:33
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Description: Speculation rising that Yum! could sell a
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Transcript (May be auto-generated)
Good morning. Yum! Brands, the owner of KFC and Pizza Hut, is in talks with
private equity firms, including KKR and Hopu Investments, to sell roughly 20% of
its stake in its China operations. That's according to two sources who are
familiar with the plan. Analysts and bankers estimate the China business could
be valued at about $10 billion based on core earnings. Shares in Yum! have
gained more than 10% since it unveiled plans to spin off the China business last
October. Let's have a look at some other stocks to watch. The outlook for
Goldman Sachs first quarter earnings per share has been reduced by Wall Street
analysts. Current estimates now range between $1.74 and $5.89 per share with a
consensus of $3.67. The activist hedge fund Starboard Value wants to remove the
entire board of struggling Internet company Yahoo! That's according to the Wall
Street Journal. Starboard has been pushing for changes at Yahoo! since 2014,
asking it to separate its Asian assets and sell the core business. Walt Disney
Company has just ranked number two on the list of the world's most reputable
companies for 2016. The list is published by Forbes. And Disney moves up from
number six in 2015. Keep an eye on shares of Virgin America again today. The
stock soared yesterday and reports the -- airline company is considering selling
itself or a part after it received buyout interests. Apple plans to integrate
Apple Pay with its Safari browser later this year. That's according to the
technology Website Re/code. The move will allow users to make purchases from
mobile websites. The mobile payment system will be available to shoppers who use
iPhone and iPad models that have the company's fingerprint technology. Let's
take a look at how Wall Street may open. Stock futures points the Dow, S&P, and
NASDAQ opening lower.
And finally, the US government is expected to charge Iranian hackers for
coordinated campaign of cyber attacks in 2012 and 2013 on several US banks and a
New York dam according to Reuters sources. The Justice Department has prepared
an indictment against about a half a dozen Iranians. It's one of the highest
profile indictments against a foreign nation on hacking charges. And that's
today's Morning Call. I'm Chitra Nawbatt, and this is Reuters