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Writing (selling) a put is a neutral to bullish endeavor and, in the light of the legal embranglements at MO, now is perhaps an appropriate time to abandon a neutral to bullish positions on the equity. YUM Brands (NYSE:YUM) warned that its estimated second-quarter operating profit will be affected by $20 million to $25 million after a first-quarter embranglement in China, when YUM's KFC restaurants were forced to withdraw a chicken dish because a red dye, used in the seasoning, was linked to cancer. |
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