Consumer companies rose amid mixed earnings.
Shares of Yum Brands surged after the parent of restaurant brands KFC, Taco Bell and Pizza Hut reported second-quarter profit that beat expectations and sales trends that continued to improve.
Molson Coors Beverage shares rose after the brewer reported better-than-expected second-quarter sales and earnings.
Bloomin' Brands shares fell after the operator of Outhouse Steakhouse, Carrabba's Italian Grill, Bonefish Grill and Fleming's Prime Steakhouse & Wine Bar posted weaker-than-expected second-quarter earnings. Retailers and restaurant chains are likely to benefit from moderating inflation in coming quarters, said Eric Marshall, president of Dallas mutual-fund firm Hodges Capital.
Microsoft said Delta Air Lines' own outdated technology was likely the reason that the airline struggled to recover from an IT outage last month while rivals got back on track more quickly.
WK Kellogg shares tumbled as the cereal maker's second-quarter earnings reflected pressure from reduced frontage at grocery stores. Planet Fitness shares surged after the fitness chain topped analyst estimates for adjusted profit and revenue, reporting an 18% increase in profit.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
08-06-24 1745ET
