Popeyes has overtaken KFC as the No. 2 chicken chain in the U.S., a decade after Chick-fil-A first unseated KFC from the top spot. Chicken chains’ battle for stomachs — and dollars — has become more aggressive in recent years. Popeyes launched a chicken sandwich in 2019 that ushered in the chicken sandwich wars. Burger chains such as McDonald’s and Wendy’s jumped onto the trend, leading to poultry shortages. In the fray, KFC has lost ground. In the past year, its U.S. market share fell to 11.3% from 16.1%.
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Exxon Mobil says its third-quarter profit is likely to get a bump of around $1 billion from rising crude prices. Exxon estimated between $900 million and $1.3 billion more than second-quarter profit due to crude oil and gasoline price increases. Oil futures plunged by more than $5 a barrel yesterday to end at their lowest level in about five weeks, but had been inching closer to $100 a barrel recently.
Futures are down after stocks closed higher yesterday. The Dow Industrials gained 127, the Nasdaq added 176 and the S&P 500 was up 34.