WS #9931

The dominant signal in this window is the formal confirmation of Yum Brands selling Pizza Hut to private equity firm LongRange Capital for $2.7 billion, corroborated by CNBC, Seeking Alpha, and social media. This represents a major strategic shift for Yum Brands (YUM), which will now focus on KFC and Taco Bell, while Pizza Hut's struggles under Yum are highlighted. Separately, the US-Iran interim deal narrative continues to dominate macro headlines, with oil prices dropping sharply (Brent -2.6% to $81.03, WTI -3% to $78.29) on Hormuz reopening hopes. Multiple sources (Bloomberg, social media, Polymarket) confirm the preliminary agreement, with the MOU signing expected Friday. A Ukrainian drone strike on Moscow's largest refinery adds supply-side pressure to Russian energy infrastructure, while Russia ships oil at near-record pace despite refinery damage. The FBI foiled a plot to attack the White House UFC event with explosive drones—a security event with limited market impact. Dave & Buster's (PLAY) reported a Q1 double miss with comparable sales down 5.4%, sending shares down 13.4% pre-market. Rackspace Technology (RXT) shares surged after finalizing a deal with AMD to deploy 30 MW of AI compute capacity. Overall, the narrative arc is ESCALATING on the Pizza Hut divestiture and oil price decline, STABLE on the US-Iran deal (awaiting Friday signing), and DE-ESCALATING on oil prices due to Hormuz reopening expectations.