Yum to Sell Pizza Hut; Dave & Buster’s Sinks | Stock Movers

Yum! Brands agreed to sell its Pizza Hut chain for a total of $2.7 billion on Tuesday. The sale is divided into two parts: LongRange Capital will acquire Pizza Hut operations outside of China for $1.5 billion, while Yum China Holdings Inc. will purchase the China business for $1.2 billion. These transactions are anticipated to be finalized in the third quarter. Separately, Dave & Buster’s experienced a significant stock decline after reporting first-quarter comparable sales that fell short of analyst expectations. Research firm Benchmark downgraded the company's stock, expressing concerns about the stabilization and eventual positive growth of same-store sales within the current year. In other market movements, Robinhood Markets saw its shares increase following an announcement that it will reduce its full-time employee count by 10% and discontinue several open job positions.