Yum! Brands (NYSE: YUM), which competes with McDonald's (NYSE: MCD), Burger King (NYSE: BKC), and Wendy's/Arby's Group (NYSE: WEN) for the right to feed consumers on the go around the world, issued a Q3 report after the bell on Tuesday that was decent in many respects. Earnings per share on an adjusted basis increased over 20% to 70 cents. This performance absolutely embarrassed the analysts, who were looking for a mere 58 cents per share according to our earnings preview.

So, that was one of the decent parts. Actually, I'd say it was a little more than decent. But, unfortunately, the top line didn't grow. Total revenues actually declined 2%.

At the time of this writing, shares of Yum! Brands (NYSE: YUM), a company that competes with McDonald's (NYSE: MCD), Burger King (NYSE: BKC), and Wendy's/Arby's Group (NYSE: WEN), were trading higher by well over 4%. Volume was doing well, too. Interestingly enough, Yum! Brands will be reporting Q3 earnings on Tuesday, October 6, after the bell. Does this mean that you should buy in ahead of the release?

On the surface, I suppose the market is telling you that Yum! Brands would indeed make a good earnings trade. Not only is the stock up nicely this afternoon, but it isn't too far from a 52-week high.

Yum! Brands (NYSE: YUM), a chain of restaurant trademarks that competes with McDonald's (NYSE: MCD), Burger King (NYSE: BKC), and Wendy's/Arby's Group (NYSE: WEN), delivered up a nice hot serving of earnings on Tuesday after the bell.

For the second quarter, net sales dropped 7%. Earnings on an adjusted basis increased 10% to 50 cents per share. This was actually much better than analysts' expectations. Wall Street was only counting on 43 cents per share, according to Bloomberg. However, the market is always looking forward, so there was a bit of bad news in terms of guidance pertaining to same-store sales.

Sonic (NASDAQ: SONC), a fast-food chain whose colleagues include Burger King (NYSE: BKC), McDonald's (NYSE: MCD), Wendy's/Arby's Group (NYSE: WEN), and Yum! Brands (NYSE: YUM), reported earnings for the third quarter on Tuesday after the bell. The shares have done well today on the news. As I write this, Sonic's stock is up well over 12% in afternoon trading. Volume is great. Do you want to get in on the action?

Sonic said it earned an adjusted 24 cents per share. This article reported expectations as being $0.20 per share, so management beat the bottom line by a nice amount. We'll throw that result on the positive side of the line.

Burger King (NYSE: BKC), a fast-food joint that competes with McDonald's (NYSE: MCD), Yum! Brands (NYSE: YUM), and Wendy's/Arby's Group (NYSE: WEN), issued its Q3 report on Wednesday. The top line didn't do much, rising only 1% in the face of difficulties with currency translations. Earnings came in at 34 cents per share. That was one penny better than Wall Street's expectations, according to Reuters.

It's always good to beat the earnings call. But Burger King didn't get much mileage out of that victory. The stock actually sold off 3% on the news, closing yesterday at a fresh 52-week low of $16.55. The big catalyst was the conservative fiscal-year guidance.

After the closing bell last night, fast-food restaurant operator YUM! Brands (NYSE: YUM) stepped into the earnings spotlight, reporting a first-quarter profit that dropped 14% compared to a year ago.

Nevertheless, the company's earnings of 46 cents per share topped the consensus estimate of 40 cents per share. The company's sales dropped by 8% to $2.2 billion, which was worse than Wall Street's expected $2.35 billion.

The company noted that gains in overseas markets were undermined a bit by currency losses and a decline in store traffic in the United States at the company's KFC and Pizza Hut restaurants.

Sonic (NASDAQ: SONC), the drive-in fast-food joint that competes with McDonald's (NYSE: MCD), Wendy's/Arby's Group (NYSE: WEN), Yum! Brands (NYSE: YUM), and Burger King (NYSE: BKC), reported second-quarter earnings after the bell on Monday. You know that video-game character Sonic the Hedgehog? Know how he's fast? Well, Sonic the burger server is unlike Sonic the software character right now when it comes to growing its business.

Wendy's/Arby's Group (NYSE: WEN), a fast-food company that competes with McDonald's Corporation (NYSE: MCD), Burger King (NYSE: BKC), and Yum! Brands (NYSE: YUM), reported earnings for the fourth quarter on Monday. Call me unimpressed.

The chain earned $0.05 per share on an adjusted basis. According to this article, the results matched expectations. I don't begrudge Wendy's/Arby's for doing that in such a tough marketplace. But I do begrudge the weakness in the Arby's brand. Systemwide same-store sales at Wendy's were up 3.7% in Q4, while systemwide comps at Arby's were down a terrible 8.5%. Arby's is having problems attracting people with its current menu portfolio. The value menu at Wendy's, on the other hand, seems to be a strategy that is working. Customers are coming in, ready to get a deal on those delicious, although not-so-healthy, square-shaped burgers. So, if the company wants to improve its situation, it's going to have to get serious about fixing Arby's.

When the economy gets tough, eat fried chicken. This must be the mantra of many Britons; at least, that's the way Yum! Brands (NYSE: YUM) is betting. The company this weekend announced it was opening 200 to 300 new stores in north England and south Wales over the next few years, increasing its current concentration by about 30%. On top of relatively good earnings reported for the fiscal fourth quarter earlier this month, Yum! Brands is looking almost ... optimistic. Could it be?

It could. Not only is KFC opening outlets in England and China as the rest of the world cowers in job-cutting fear of the Things To Come, but the stock is in a hopeful place; at about $28.70 this afternoon, up 0.24% on the day and, having recovered from a low near $22 in November 2008, seemingly headed in an upward arc toward its year-ago territory above $35. At this price, and with this great hope for the future, KFC could be a good buy.

Burger King (NYSE: BKC), a famous fast-food joint that competes with McDonald's (NYSE: MCD), Yum! Brands (NYSE: YUM), and Wendy's/Arby's Group (NYSE: WEN), reported earnings for the fiscal second quarter on Thursday. Net sales decreased 3%, and net income dipped 8% to $0.33 per diluted share. The call was for $0.37 per share.

It's good to be the King, but it's not good to miss your earnings forecast. Yes, we shouldn't always pay attention to the analysts and their game, and it's certainly difficult these days to make forecasts anyway, but it's always nice to see a company at least hit the ballpark in terms of consensus.

The press release cited concerns with currency translations, so that's something for shareholders to keep in mind. But the release also cited something that I think is one of the best elements of the Burger King story: its marketing campaigns. Management was happy to congratulate itself on being highlighted by trade journal Ad Week. I know, it's just corporate bragging in an earnings document, who needs that, right? While that may be true, I do honestly believe that Burger King's TV spots have definitely built a loyal following among the valuable youthful demos, and that the campaigns, which have included that creepy royal mascot, are indeed responsible for growth. And those Whopper Virgins commercials were pretty funny, too.

Yum! Brands (NYSE: YUM), whose competitive colleagues include McDonald's Corporation (NYSE: MCD), Burger King Holdings Inc. (NYSE: BKC), and Wendy's Arby's Group (NYSE: WEN), reported earnings for Q4 and the full fiscal year on Tuesday after the bell.

Net sales increased 4% for the quarter to $3.4 billion, and earnings per share on an adjusted basis went up 5% to $0.46. According to the earnings preview, sales essentially met Wall Street's view, but net income was beat by a penny. For the year, Yum! saw a net sales increase of 8% to $11.3 billion, and its adjusted bottom line increased by 14% to $1.91 per share. Once again, sales were in-line, and earnings beat by the proverbial penny.

The major market indices indicate that a short-term rally is due.

Our internal indicators, chiefly the Moving Average Convergence/Divergence (MACD) and momentum, are oversold, and the stochastic has issued a short-term buy signal.

Additionally the sentiment indicators, chiefly Investors Intelligence, the American Association of Individual Investors' (AAII) sentiment survey, which has been very bearish for three weeks, and the CBOE Volatility Index (VIX), tell us that the public is bearish and insiders are bullish.

Even though the trading targets could be as close as Dow 8,500, they could also extend to the top of the three-month trading range at Dow 9,300. This may seem like just more of the same type of sideways trading that we've become used to, but it could also mean that a major market base has formed.

Taco Bell parent company Yum Brands (NYSE: YUM) made a lot of money from the wildly popular "!Yo quiero Taco Bell!" commercials, but it turns out that they stiffed the creators of the ad campaign.

In 2003 a Michigan jury found that the company didn't pay Tom Rinks and Joe Shields, the creators of the dog. Taco Bell turned around and sued advertising agency TBWA Chiat/Day, charging that that company was responsible for the stiffing.

It's right there in the stock symbol: for Yum! Brands (NYSE: YUM), parent of Kentucky Fried Chicken, Taco Bell and Pizza Hut, is all about good taste. None of the food conglomerates' brands have ever been widely recognized for their healthfulness; in fact, it's safe to say that consumers passionate about healthy eating consider the entire suite of fast-service restaurants dens of iniquity.

Yum is trying to change all that. No, not by making any of the restaurants' foods more healthy, but by targeting consumers who are looking to lose weight with its new Keep It Balanced web site. The site shows laughing, gorgeous, healthy consumers holding chalupas and sodas, while exhorting weight-conscious readers to "Keep a record of what you eat and drink" and "Be Patient!" while ordering sauce on the side at Taco Bell and (seriously?) removing the skin and breading from your KFC fried chicken. Meanwhile shadowy figures dance around the corners of the site's frames in moves reminiscent of Tai Chi; a discipline that I would be willing to bet 90% of the company's consumers don't practice and, likely, consider ridiculous.

The message: our food is so totally unhealthy, but you can make it healthy by picking off all the tasty bits. Then you'll be free to head to martial arts training with a clear conscience. Brilliant. Or, perhaps, absolutely unbrilliant and obviously meant only to pay lip service to criticism that the company's foods are contributing to our nation's decidedly unhealthy relationship with food, a half-hearted effort to associate its brands with the "diet season" of January. In my estimation, the site is a waste of marketing dollars and, as long as you're not an investor, laughable.

CKE Restaurants (NYSE: CKR), owner of the Carl's Jr. and Hardee's brands, reported earnings for the third quarter on Wednesday. The top line fell a little over 4%, coming in at $336.6 million. On a diluted basis, the bottom line cooked up $0.10 per share. That was a penny less than what was earned last year, but the company did manage to meet Wall Street's expectations.

Moving away from total sales and net income, let's look at the all-important same-store sales results. For the third quarter, comps for both CKE brands on a blended basis rose 0.9% according to the earnings release. An earlier press release focusing on same-store sales in November, had comps increasing by 0.3% on a blended basis. Year-to-date, blended comps moved 1.9% higher. When you compare these changes to their respective year-ago periods, you'll see that CKE isn't really doing gangbuster business.

I find neither the earnings numbers nor the sales figures particularly compelling. Management seems to think that the dreadful economic crisis we're facing is mostly responsible. Hey, it certainly isn't helping, and I sympathize with CKE's challenges during the credit crisis. Yet, I'd have to respectfully suggest that management get out there and get some hardcore marketing efforts going. When sales are down, you need to up the ante when it comes to branding and convincing patrons to come through your door. These comps are pretty weak and unattractive. They can be pushed higher with some innovative, creative campaigns.