Good evening, you're listening to Markets Desk.
Yum Brands is shedding Pizza Hut in a two-point-seven-billion-dollar deal, selling the domestic business to private equity firm LongRange Capital for one-point-five billion, with Yum China picking up the mainland locations separately. It's a clean exit from a brand that's been losing ground for years, and signals private equity still sees turnaround value in legacy casual dining.
Shifting to tech, morale inside Meta is described as nearly the worst it's ever been, according to chief technology officer Andrew Bosworth, who made the remarks internally. He noted only the Cambridge Analytica scandal ranked lower. Leadership says it's addressing the problem through career development initiatives, but that's a significant admission from the executive suite of one of the world's most valuable companies.
And in markets-adjacent news, Michael Burry says he was tempted to short SpaceX but ultimately passed, citing expensive options pricing. Burry's argument was straightforward — the company's implied valuation has stretched well beyond what fundamentals in comparable businesses would justify. That he looked and walked away tells you something about where risk-reward sits in private tech right now.
That's the tape. Markets Desk, signing off the floor.
