Yum! Brands shares slide; Whole Foods weak sales; Kraft Foods profits tumble

Here is a look at some of the stocks the Yahoo Finance team will be watching for you today.

Yum! Brands (YUM) shares fell in early trading after the owner of KFC and Pizza Hut restaurant chains said global profits could take a hit this year after a drop in China sales, following news that one of its suppliers was using expired meat.

Avon Products (AVP) shares rose in the pre-market. The beauty products company said even though its still having a tough time with the turnaround, it expects performance to improve in the second half of the year. This after it reported earnings and revenue that missed analysts' estimates as sales continue to decline in North America and Latin America

Tesla (TSLA) is also on investor’s watch list. The electric-car maker and Japanese electronics firm Panasonic are joining forces to build a battery plant in the U.S., which is expected to create 6,500 jobs by 2020. However, the two companies did not reveal where the so-called "gigafactory" will be built. Tesla is also due to report earnings after the market close. Analysts are looking for the company to earn $0.04 a share in the second quarter.

Kraft Foods (KRFT) shares are down in the pre-market after the maker of brands such as Oscar Mayer and Maxwell House reported earnings and revenue that missed analysts' estimates. Profits fell more than 40% from a year ago as the company struggled to grow its revenue due to challenges related to higher food costs and consumer trends.

Investors also took a bite out of shares of Whole Foods (WFM) in the pre-market. The company beat earnings by two cents, but just missed analysts' revenue estimates. Whole Foods reported same-store sales rose 3.9% during the quarter, but that was the worst performance in nearly four years. The company also lowered its earnings and same-store sales outlook for the year, after doing the same in May.