Slow China Sales Sink Yum! Shares Ahead of Spin-Off

Shares of Yum! Brands (YUM) - Get Report  traded lower Thursday after the company reported third-quarter results below analysts' expectations. Yum! posted earnings of $1.09 share, missing Wall Street's projections by a penny. A lot of the shortfall was due to weak same-store sales in China. Yum plans to spin off its China division this month and the company's other restaurant brands, KFC and Taco Bell, performed better than anticipated.