US Daily Brief "Today's Research – June 18, 2026" Parkhill

Research evidence excerpt

US Daily Brief "Today's Research – June 18, 2026" Parkhill

Global Research

18 June 2026ab

US Daily Brief Equities

AmericasToday's Research – June 18, 2026

Joseph Parkhill

Product Manager

Yum! Brands (YUM, Buy, $180) - Highlights From Meetings with Yum! Brands (Dennis joseph.parkhill@ubs.com

+1-212-713 3716

Geiger)

Meetings with YUM highlighted strong Taco Bell & KFC brand positioning and Peter Lennox-King

opportunities to accelerate growth post the announced sale of Pizza Hut Product Manager

peter.lennox-king@ubs.com

+1-212-713 3215

Hasbro Inc (HAS, Buy, $110) - Diving into Unit Economics of Video Game Launches

Ryan Bell(Arpine Kocharyan)

Below we dive deeper into video game releases and what they could mean for Hasbro's ryan-b.bell@ubs.com

P&L for next year, combined with near-term Q2 expectations and Wizard checks +1-212-713 1233

Arthur J. Gallagher & Co (AJG, Buy, $250) - 2Q26 Investor Meeting: Guidance

reaffirmed and higher synergies from AP (Brian Meredith)

AJG hosted its pre 2Q26 Investor Meeting. The company reaffirmed its brokerage

organic growth guidance and increased expected synergies from AssuredPartners

Jefferies Financial Group (JEF, Downgrade to Neutral from Buy, $67 from $59) -

F2Q26 Preview: Good News Largely Priced; Downgrade to Neutral (Michael Brown)

Downgrading JEF to Neutral after a +50% QTD surge. Advisory/ECM optimism priced in,

catalysts fading (SMBC buying), and PT uplift insufficient to chase shares

US Economic Perspectives - FOMC: hawkish dots and less guidance (Jonathan Pingle)

A new communications style has arrived. Plus there will be a task force for that

apparently.

US Economic Perspectives - FOMC regime change (Jonathan Pingle)

The information suggests a split on the FOMC between hikers and holders, but we also