Stock Futures Point to a Rebound
Yum! Brands (YUM) said Monday that fourth-quarter profit fell 5% and it warned that it expects earnings for the year to decline amid a controversy over its chicken suppliers in China . Shares were tumbling more than 6%.
Kellogg(K) , the cereal maker, posted fourth-quarter earnings of 65 cents a share on revenue of $3.6 billion, versus the average analyst estimate of 66 cents a share on revenue of $3.44 billion amid strength in Latin America. Shares were rising 0.69% in premarket trading.
Chinese search giant Baidu(BIDU) said Tuesday that profit for the quarter ended Dec. 31 rose 36% as advertising spending increased. Shares were plunging by more than 6.5%.
Expedia(EXPE) , the online travel agency, is expected by analysts Tuesday to post a profit of 65 cents a share in the fourth quarter on revenue of $929.8 million after the bell. Shares were gaining more than 1%.
Zynga(ZNGA) , a Facebook partner, is expected by analysts Tuesday to post a quarterly loss of 3 cents a share on revenue of $212 million after the market close. Shares were popping by close to 6% as Bank of America raised its view on Zynga to buy from underperform.
Virgin Media ( VMED) has confirmed that it is in discussions with international cable company Liberty Global on a "possible transaction." Shares of Virgin Media were soaring by nearly 19%.
Archer Daniels Midland ( ADM) shares were rising nearly 2% after the company beat quarterly earnings estimates as it managed to cope with U.S. drought challenges and fully utilized its oilseeds crushing capacity.
-- Written by Andrea Tse in New York.
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