Yum! Brands (YUM - Get Report) 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. Yum!, which operates KFC, Pizza Hut and Taco Bell restaurants, said for January and February it expects sales at restaurants open at least a year in China to drop 25%. The stock was cut to neutral at Baird on Tuesday and its price target was reduced to $60 from $72.
BP (BP - Get Report), the energy giant, said fourth-quarter earnings fell 79%, largely because of payouts related to the Gulf of Mexico oil spill. BP said net profit fell to $1.62 billion in the fourth quarter from $7.69 billion a year earlier. BP recorded a charge of $3.85 billion for its settlement of all federal criminal charges with the U.S. government related to the spill. The fourth-quarter results topped analysts' expectations.
Kellogg (K - Get Report), the cereal maker, is forecast to report fourth-quarter earnings of 66 cents a share on revenue of $3.44 billion.
Chinese search giant Baidu (BIDU) said Tuesday that profit for the quarter ended Dec. 31 rose 36% as advertising spending increased. Amazon vs. Netflix: Jeff Bezos Could Squash Reed Hastings Like a Bug
Expedia (EXPE - Get Report), 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.
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.
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