Yum Shares Buoyed By Keith Meister's Upbeat Comments

Yum Brands Inc. shares climbed on Monday after Keith Meister of Corvex Management described the fast-food chain operating company as an ideal investment for his hedge fund at the Sohn Investment Conference. Claiming that Yum's problems in 2012 and 2013 were "hiccups" due to China's food regulations, Meister said the company's earnings per share have the potential to grow 14 times. The steps that the company needs to take to overcome its woes are: spin off China operations; enter Chinese end of the business into franchise agreement with U.S. brand; and focus on U.S. corporate governance. Yum's stock rose 1.1% following Meister's comments.