00:00I want to start with Yum Brands, which is up about 1%. But you know, I thought they might
00:05be up bigger on this news. It's selling its struggling Pizza Hut brand in two separate
00:11transactions. One's going to be to the private equity firm Long Range Capital. That's about
00:15$1.5 billion. But that deal excludes Pizza Hut's locations in mainland China. Instead,
00:21Yum China is going to buy that part of the business for about $1.2 billion. Yum, of course,
00:28still going to own Taco Bell and KFC brands. Also, the board approved a $4 billion stock buyback.
00:33Kind of nice. But look, this deal caps off years of struggles for Pizza Hut. They say that it's
00:39weighed on the company's overall financial performance. Remember, it used to be like a
00:42sit-down format with a salad bar. You'd go up and get the salad bar. So exciting. It's changed. It
00:48has come up against competition from Domino's. It lost the title of the country's largest pizza
00:53chain to Domino's back in 2017 and never got it back. So in November, Yum said it was
00:58going to explore strategic options for Pizza Hut and then we have this deal today. In doing my
01:02research, I found out two brothers, Dan and Frank Carney, founded Pizza Hut in 1958 in Wichita,
01:08Kansas. Perfect. That's, yeah. I did not know that. I did not know that, but it makes plenty of
01:13sense. These are the things you learn listening to stuff. So let's start your own company. Good job.
01:17Yep. All right. Let's move over to Dave and Buster's. The ticker symbol there, Play,
01:21P-L-A-Y, the arcade restaurant operator, down 18%. Oh, I've been to many a birthday party there.
01:27Really? Okay. A little chaotic, but the kids like it. I've never darkened the door,
01:31but it's a kid's thing. Yeah. It's a kid's thing. Yeah. Yeah. It's a kid's thing.
01:34The disappointing quarterly profit report on both the top and bottom lines, comparable store sales.
01:39This is the metric Wall Street's always caring about, down 5.4%. Operating income missed estimates by
01:4510 million. So Dave and Buster's CEO, though, on the earnings call, tried to be upbeat, said,
01:50look, while results were below expectations, they said their back-to-basic strategy is gaining
01:55traction. They're improving food, beverage, marketing, but Wall Street is not buying it
01:59literally today. We've got the research firm Benchmark downgrading the stock, said that
02:04management credibility at Dave and Buster's has deteriorated. So we see the stock falling as a
02:10result. And I want to get in Robinhood markets. So Robinhood, up about 2%, ticker symbol HUD.
02:17It's the latest fintech to cut jobs as these companies integrate artificial intelligence.
02:22So Robinhood's going to cut about 300 jobs. That's 10% of its workforce. It says it is doing
02:27it to, quote, remain lean and disciplined as it develops new products. Thank you for bringing this
02:33up. I really wonder into June and then, Paul, into June 30, if we're going to see a lot of
02:39tweaking of this. Could be. Yep. A lot of adjustments. Crypto.com, Coinbase, Block, PayPal,
02:46they have all cut jobs in recent months. And so Robinhood is now just the latest.
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