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Shares of Yum! Brands (NYSE:YUM) gained nearly 1 percent higher in late afternoon hours. The parent company of KFC and Pizza Hut reported earnings of 56 cents per share, 2 cents better than the average analyst estimate. David C. Novak, chairman and chief executive officer, said, “Second-quarter EPS declined 16 percent, which was generally in line with our expectations. KFC sales and profits in China were significantly impacted by intense media surrounding Avian flu, as well as the residual effect of the December poultry supply incident. The good news is that China sales are recovering as expected. The extensive media surrounding Avian flu in China has subsided and same-store sales at KFC are clearly improving.” Shares of McDonald’s (NYSE:MCD) were unchanged on the news.

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