Yum Brands Shares Plummet 16% After Earnings, Sales Miss

Yum Brands Inc. shares dropped in the extended session Tuesday after the fast-food chain operator missed Wall Street estimates for the quarter. Yum shares fell 16% to $70.19 on heavy volume. The company reported adjusted third-quarter earnings of $1 a share on revenue of $3.43 billion. Analysts surveyed by factSet had forecast $1.06 a share on revenue of $3.67 billion. The company also said it was raising its quarterly dividend 12% to 46 cents a share.