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Major Movers on January 8; YUM, MON, TLLP, FIO, GME, PERI, TISI

Shares of Yum! Brands Inc. (NYSE: YUM) slumped 4.58 percent, at last check. The parent company of brands such as KFC, Pizza Hut and Taco Bell said that its sales in China will fall more than expected. The Company said that same-store-sales in KFC stores will decline as the government reviewed country’s poultry supply. Meanwhile, Wall Street firms have slashed their rating on the stock. Jefferies cut its price target on stock by $2 to $$68, Susquehanna downwardly revised its price target to $65 from $69, and UBS slashed its Price target to $69 from $73 while S&P Capital lowered its price target by $1 to $78.

Shares of Monsanto Company (NYSE: MON) edged up on Tuesday after global agriculture giant reported better-than-expected fiscal fourth quarter results. The Company reported earnings of 62 cents a share on revenue of $2.94 billion. Analysts’ consensus estimate was for earnings of 36 cents a share on revenue of $2.64 billion. The Company also boosted its outlook on fiscal 2013 earnings. Monsanto now expects earnings of $4.30 to $4.40 a share, up from its previous estimate of $4.18 to $4.32. For the Company, biggest boost came from corn seeds sales, which climbed 27 percent YOY.

Tesoro Logistics LP (NYSE: TLLP) shares plunged 3.07 percent, at last check. The Company said it is offering 8.5 million units, representing limited partner interests. The company intends to use these proceeds in proposed acquisition of Chevron Corp’s northwest products systems which includes a 760-mile pipeline. The Company recently had 35.5 million of units outstanding.

Fusion-IO Inc. (NYSE: FIO) shares plunged nearly 9 percent by midday trade on Tuesday after Jason Ader, an analyst at William Blair’s slashed rating on the data storage company’s stock  to “market perform” from “outperform”. According to Ader, Street’s expectation of 46% YOY growth during second half of fiscal 2013 was way too high.

Shares of videogame chain GameStop Corp. (NYSE: GME) plunged 6 percent, at last check. The Company said that sales in the holiday-season quarter fell by 4.6 percent. Same-store-sales, a key gauge on retailer’s performance, 4.4 percent for the quarter ended December 29.  While same-store-sale in the U.S. fell by 3.5 percent, it fell 6.4 percent in the international markets. The Company now expects same-store-sales in fiscal fourth quarter to plunge 4 percent to 7 percent even as full year comparable store sales are expected to slump by 7.5 percent to 9 percent.

Addressing analysts and investors, GameStop’s Chief Executive Paul Raines said in a statement, “GameStop experienced mixed results during the holiday selling period. Our successful Wii U launch, strong digital growth and continued momentum in the mobile space were countered by a decline in store traffic.”

Perion Network Ltd. (NASDAQ: PERI) shares leaped more than 20 percent, at last check after the digital media company said that it expects to better Street’s revenue expectation and provided  outlook on fiscal 2013 earnings  and revenue which was higher than analysts’ current estimates.

Shares of Team Inc. (NYSE: TISI) rallied after the industrial services company reported 35 % growth is fiscal second quarter profit, thanks to continued revenue growth.

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