Early movers: FDX, KYTH, HRC, PFE, LLY, SBUX, AXP & more

Traders work on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters
Traders work on the floor of the New York Stock Exchange.

Check out which companies are making headlines before the bell:

FedEx–FedEx reported adjusted quarterly profit of $2.66 per share, missing estimates by 2 cents a share. Revenue was also below forecasts, although CEO Fred Smith made optimistic comments about the contributions that recent acquisitions will make to shareholder value.

Kythera Biopharmaceuticals–The drug maker is being bought by Allergan for $2.1 billion in cash and stock, or $75 per share. Kythera had closed Tuesday at $60.72.

Hill-Rom Holdings–The medical technology company will buy privately held rival Welch Allyn for $2.05 billion in cash and stock.

Eli Lilly, Pfizer–Piper Jaffray began coverage on both drug makers with an "overweight" rating, making positive comments about each company's drug pipelines.

Qihoo 360 Technology–The China-based internet services provider received a buyout offer from Chief Executive Officer Hongyi Zhou worth $77 per American depositary share compared to Tuesday's close of $66.05. The company's board will form a special committee to consider the bid.

Adobe Systems-The maker of the popular Photoshop software program earned an adjusted 48 cents per share for its latest quarter, three cents above estimates. Revenue was in line with forecasts, but the company did issue a current quarter earnings and revenue outlook that was lower than expected.

21st Century Fox–Fox said James Murdoch will become chief executive officer on July 1, with Rupert Murdoch becoming executive co-chairman along with Lachlan Murdoch.

AIG–Former CEO Hank Greenberg will appeal this week's court decision that agreed that the government acted illegally in its bailout of the insurer in 2008, but awarded no damages.

Arena Pharmaceuticals–The drug maker announced the departure of its Chief Financial Officer Robert Hoffman, effective July 10.

Starbucks–Starbucks will close its 23-shop La Boulange pastry chain, just three years after it bought the company. Starbucks replaced its own baked goods with La Boulange's in its own shops following the transaction, but said running those separate stores have become a distraction.

American Express–The company suffered a court defeat involving a ruling that forces it to let merchants steer customers towards lower-cost cards. A federal appeals court turned down a request to halt an injunction that forced Amex to take that stance.

Caesars–The casino operator has been hit with a more than $6 billion lawsuit by debt holders over its planned restructuring.

Bank of America–The bank was criticized by the Federal Reserve earlier this year for not anticipating problems with its stress test submission, according to The Wall Street Journal.

La-Z-Boy–The company reported quarterly profit of 38 cents per share, matching estimates, though revenue fell short of expectations. The furniture maker did see improved profit margins compared to a year earlier.

Bob Evans–Bob Evans earned an adjusted 56 cents per share for its latest quarter, well above estimates of 41 cents. The restaurant chain's revenue also beat estimates amid a 2.1 percent increase in same-restaurant sales.

DAVIDsTEA–The company reported a loss in its first quarter as a public company, impacted by costs related to the initial public offering. The beverage chain's sales did rise 29 percent from a year earlier.

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