Why Yum China Holdings Stock Jumped This Week
Shares of Yum China Holdings (NYSE: YUMC) beat a falling market this week. The fast-food stock gained 14% through Thursday trading compared to a 4.6% slump in the S&P 500. That spike was enough to put shares well above the market's return so far in 2022, according to data provided by S&P Global Market Intelligence. Yum China's stock is down just 5%, in fact, compared to the market's 22% slump this year.
The rally came as Wall Street continued to digest this week's earnings report and management's updated restructuring plans.
Shares jumped in response to the company's fiscal third-quarter results, which were published on Tuesday. That report showed that while pandemic-related lockdowns and restrictions continued to pressure the business, Yum China managed to grow sales by 5% for the selling period that ended in late September.
Source Fool.com
