MOST NOTEWORTHY: Kenexa Corp (KNXA), CACI International (CAI), SI International (SINT), Tyco Electronics (TEL) and YUM! Brands (YUM) were today's noteworthy initiations:

• ThinkEquity started Kenexa Corp (NASDAQ: KNXA) with an Accumulate rating, citing the company's attractive business model that can deliver high-value, high-margin content, but questions the company's plans to compete with best-of-breed vendors.

• Banc of America initiated CACI International (NYSE: CAI) with a Neutral, citing the challenging budget environment and margin trends.

• Banc of America believes shares of SI International (NASDAQ: SINT) offers a compelling risk/reward given the improving civilian funding environment and upside potential from recent M&A activity, and assumed coverage with a Buy rating and $38 target.

• Tyco Electronics (NYSE: TEL) was started with a Hold rating at Deutsche Bank, citing risks to the company's potential turnaround.

• Yum! Brands (NYSE: YUM) was re-initiated with an Outperform rating at Friedman Billings on valuation and considers any stock price weakness from the increased costs as a buy opportunity.

OTHER INITIATIONS:

• Banc of America assumed the following Government IT Services companies with Buy ratings: SRA International (NYSE: SRX) and SI International.

• Banc of America assumed the following Government IT Services companies with Neutral ratings: CACI International, MTC Technologies (NASDAQ: MTCT), SAIC (NYSE: SAI), and ManTech International Corp (NASDAQ: MANT).

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Yum! Analysts and investors alike eagerly gobbled up the first quarter earnings surprise for Yum! Brands (NYSE: YUM), sending the stock up 6%, to $66.91 as of late afternoon, an increase of $3.79. The shares were briefly over $69, an all-time high for the company. The 70 cents-per-share profit was a 14% increase from the year-ago quarter and six cents ahead of analyst consensus.

The favorable results are even more of a surprise given that Yum! has taken several hits with its brands this year, from a rat infestation at a combined Taco Bell/KFC restaurant in New York to a lawsuit over the E-coli outbreak of Q4 2006, and has yet to discover any benefit from the removal of trans fat at its KFC restaurants.

Despite all the world's concentration on the obesity epidemic, the rise in popularity of organic foods, and the general frowning-upon marketing of fast food and other unhealthy choices to children; it seems like a great time to be the owner of some fast food stock.

[Photo kanepsphotography.]

Today on Jim Cramer's STOP TRADING segment on CNBC, he raved: "the market is making fortunes people!"

He said Yum! Brands, Inc. (NYSE:YUM) and McDonald's Corporation (NYSE:MCD) are winning on food and he was positive on Darden Restaurants, Inc. (NYSE:DRI) and The Procter & Gamble Company (NYSE:PG).

He said the fuel is coming out of oil and out of staples, and "the market is going higher." He even used the "so sue me" disclaimer afterward, but that's Cramer for you.

PepsiCo, Inc. (NYSE:PEP) wasn't that great and he is out of Kellogg Company (NYSE:K).

Phelps Dodge Corporation (NYSE:PD) is big and it is going to par, meaning $100. PD is trading at just under $93.00 as of his comments.

Now here is the problem with his segment; it's not just the criticism he gets so often, that he has too many pieces of advice. He was talking so fast you could barely understand him. He jokes about taking drugs; it would be easier to keep up if you were on speed while you watched.

Jon Ogg is a partner in 24/7 Wall St., LLC; he does not own securities in the companies he covers.