Morning Movers: Yum Skids Lower, Zynga Plunges on New Facebook Deal
Shares of Yum! Brands (NYSE:YUM) dropped 7.49 percent in pre-market trading. The parent company of Pizza Hut and KFC confirmed its full-year 2012 guidance of at least $3.24 per share. However, same-store sales in China for the fourth quarter are expected to decline 4 percent, raising fears about long-term growth prospects.
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Apple (NASDAQ:AAPL) shares down 0.68 percent in pre-market trading today. The iPhone 5 has finally received a network access license in China, which will enable Apple to start selling its latest smartphone in its fastest growing market in December.
Shares of Groupon (NASDAQ:GRPN) declined nearly 5.29 percent in early morning trading. According to Bloomberg, chief executive officer Andrew Mason will not be replaced in the near-term. Earlier this week, reports indicated that some company directors felt that a change in management may be needed at the daily deals firm.
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