Investors will be looking for positive results from Microsoft in key areas when it reports earnings after the close, including whether the Xbox One outperformed Sony's PlayStation 4 and how well the Surface tablet sold during the holiday. Investors will also look for more clarity around the closing of the Nokia acquisition. With PC sales falling, there is concern over Windows 8 sales. Microsoft's software business was strong in September but it remains to be seen if that strength will carry over into the most recent quarter. Investors also want a new CEO announced.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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