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Early movers: FDX, GIS, LEN, JBL, PAY

Check out which companies are making headlines before the bell Wednesday:

FedEx —The global shipping company suffered at the hands of disappointed investors after it posted quarterly results below Wall Street estimates. FedEx said profits were hit by clients choosing alternative, cheaper delivery options.

Lennar — Shares of the homebuilder rose in premarket trading after Needham downgraded the company to "Hold" from "Buy."

Jabil Circuit —The electronics supplier fell in early New York trading after it posted quarterly earnings below estimates.

General Mills - The cereal maker posted second-quarter profit that checked in below estimates. The company reaffirmed its full-year profit outlook but warning about the negative effects of foreign currency translation.

VeriFone Systems - Shares of the manufacturer of credit-card terminals declined after it projected fiscal first-quarter and full-year earnings beneath expectations.

—By CNBC's Kate Gibson.

Questions? Comments? Email us at marketinsider@cnbc.com