Early movers: JPM, KO, URBN, MU, INTC, OWW & more

Traders work the floor of the New York Stock Exchange.
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Traders work the floor of the New York Stock Exchange.

Check out which companies are making headlines before the bell:

JPMorgan Chase—The bank earned $1.54 per share for the second quarter, beating estimates by 10 cents, with revenue also slightly above forecasts. The bank's results were helped by a rebound in its mortgage business compared to the prior quarter, and a drop in legal costs.

Coca-Cola—UBS upgraded the stock to "buy" from "neutral," citing an increasing probability of a breakout in the next year. Among other factors, UBS thinks the company will benefit from favorable trends in both pricing and productivity.

Urban Outfitters—Jefferies raised its rating on the apparel retailer's stock to "buy" from "hold," based on the attractiveness of Urban's "high quality and differentiated" brands, as well as solid management.

Micron Technology—The chip maker is said to be the target of an upcoming $23 billion takeover bid from China's Tsinghua Unigroup.

Intel—The chipmaker's stock was downgraded to "underperform" from "market perform" at Bernstein, which points to weakness in Intel's datacenter business.

Orbitz Worldwide—UBS downgraded the travel website operator's stock to "sell" from "neutral", pointing to antitrust concerns that it feels may prevent Expedia's proposed acquisition of Orbitz from gaining approval by regulators.

Amazon.com—Amazon was upgraded to "buy" from "neutral" at UBS, in part due to strong subscriber growth for its Prime service.

WPX Energy—WPX will acquire privately held RKI Exploration for $2.35 billion in stock, giving it access to the Permian Basin region.

GoPro—Barclays upgraded the high definition camera maker to "overweight" from "equal weight," pointing to solid execution, new products, and brand strength.

JetBlue—The airline reported that revenue per available seat mile fell 1 percent in June, although overall passenger traffic was up 8.8 percent.

Valero Energy—Valero increased its stock buyback authorization by $2.5 billion, adding to the $400 million still remaining under a prior program.

Delta Air Lines—Delta has offered to invest in bankrupt Japanese carrier Skymark Airlines as part of a restructuring for that company, according to a Japanese media report.

Starbucks—The coffee chain has struck a deal to open stores in South Africa, starting with a location in Johannesburg in the first half of next year.

Spirit Airlines—The airline said poor June weather will hurt its second quarter results, and added that pricing pressure could impact its earnings during the rest of 2015.

Google—Google has instituted stricter controls on costs because of slowing revenue growth and smaller profit margins, according to The Wall Street Journal.

Nokia—Nokia confirmed prior reports that it is considering a return to the handset market, and is seeking a partner that would assume manufacturing, sales, and marketing functions. Separately, The New York Times reports that ride service Uber has dropped out of the bidding for Nokia's mapping service.


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