Monday, October 1, 2012

Baidu.com Slides On Downgrade (YUM, BIDU, DMND, CVI, WPO)

Yum! Brands, Inc.(NYSE:YUM) shares gained 1.49% to $67.33 in the morning hour after Yum! Restaurants India, part of Yum! Brands Inc that owns KFC and Pizza Hut restaurants, last week said it will invest up to $ 120 million to double its outlets in Indian sub-continent to 1,000 by 2015. Yum! Restaurants India Managing Director Niren Chaudhary told reporters that they will be doubling their strength from 500 restaurants at present to 1,000 restaurants by 2015 in the Indian subcontinent. The business expansion plans of the company will also see the restaurants major ramping its workforce.

Baidu.com, Inc. (ADR)(NASDAQ:BIDU) shares fell 3.58% to $112.67 after Jefferies Group cut shares of BIDU from a buy rating to a hold rating in a research note issued to investors today. The firm currently has $125.00 target price on the stock, down from their previous target price of $135.00.

Additionally, Baidu.com stock had its price target lowered by ThinkEquity from $180.00 to $150.00 in a research note released on Sept. 26. They currently have a buy rating on the stock.

Diamond Foods, Inc.(NASDAQ:DMND) stock declined 0.32% to $18.76. The company, on Sept. 10, announced that it received notice from the Nasdaq Stock Market stating that the Nasdaq Hearings Panel granted Diamond an extension to comply with Nasdaq rules requiring Diamond to file periodic reports with the Securities and Exchange Commission or "SEC" and to hold its annual meeting of stockholders.

CVR Energy, Inc.(NYSE:CVI) stock jumped 9.82% to $40.31 after CVR Refining LP, an associate of CVR Energy Inc, filed with regulators to raise up to $300 million in an initial public offering of its common units. The downstream energy limited partnership listed Credit Suisse and Citigroup as lead underwriters to the offering.

Additionally, CVR Refining intends to list its common units on the New York Stock Exchange under the symbol "CVRR".

The Washington Post Company(NYSE:WPO) stock increased 1.20% to $367.40 after the company announced it has agreed to acquire a majority interest in Celtic Healthcare, Inc., provider of skilled home healthcare and hospice services in the northeastern and mid-Atlantic regions. Arnie Burchianti, Celtic’s founder and CEO, will continue to run the business as CEO and co-owner. The purchase price was not disclosed. Edge Healthcare Partners, LLC is serving as the exclusive financial advisor to Celtic.

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