In "What to Watch on Wall Street" for Thursday, Dec. 10, TheStreet will highlight several earnings reports scheduled to be released.
The ones to pay attention to are Adobe Systems (ADBE) - Get Adobe Inc. Report and DAVIDsTEA (DTEA) - Get DAVIDsTEA, Inc. Report , which will be reporting their latest financial results after the closing bell.
Aside from earnings, many investors will be paying close attention to Yum! Brands' (YUM) - Get Yum! Brands, Inc. (YUM) Report annual investor day in Dallas. The restaurant operator, which is based in Louisville, Ky., announced in late October that it will spin off its China division into a publicly traded franchisee in mainland China. The new entity will pay a portion of its sales to its parent company for exclusive rights to three brands, including KFC, Pizza Hut and Taco Bell, according to CNBC.com.
This move comes after activist investor Keith Meister of Corvex Capital put pressure on the company to reorganize its business. The transaction is expected to close by the end of 2016 and is intended to be tax-free to shareholders.
Overall, the meeting will focus on plans for the two companies going forward. Investors will want to know what trends the company is seeing in China.
Additionally, company executives are expected to give detailed earnings guidance for 2016. Earlier this week, it was announced that CFO Patrick Grismer will resign in February. The company said he will do so in order to move closer to family members. Yum! Brands said it will consider internal and external candidates to succeed him.
In addition, we'll have several economic reports on tap for Thursday. The day begins with jobless claims at 8:30 a.m. ET. For the Dec. 5 week, experts predict that initial claims will hold steady, up 1,000 to a still very low 270,000. Import and export prices will also be released Thursday morning. In the afternoon, the Treasury budget will be released.
TheStreet's U-Jin Lee reports in New York.