Diamonds and Dogs
Upgrade for Yum Brands (YUM) gives shareholders a warm feeling in their belly. JP Morgan's upgrade of Yum Brands with a $108 price target sent the shares higher by 4%. The real meat of the upgrade was the possibility of a potential spin off of Yum Brand's Chinese business. Hedge fund Corvex Management has been urging Yum to spin off its China operations which may be worth more than Wall Street suggests.
The hefty price of Keurig Green Mountains (GMCR) new cold-drink machine gave Wall Street the chills, sending the stock down 8% today. The company unveiled details of the new Keurig Kold machine at an investor presentation Thursday. The device lets people make sodas, sports drinks and other beverages with the touch of a button. Like its coffee machines, the Keurig Kold uses pods to make the drinks. Not only is the price for the new machine steep at $299, but the new product will also miss the important yearend holiday season.