Early Movers: JOY, COST, MCP & More
Check out which companies are making headlines before the bell on Wednesday:
Joy Global - The mining equipment maker earned $2.12 per share, excluding certain items, for its fourth quarter, compared to estimates of $1.91 a share. However, its fiscal 2013 forecast fell short of estimates, with the company citing excess mining capacity.
Costco Wholesale - Costco earned $0.95 per share for its first quarter, two cents above estimates. Revenue and profit margins also beat consensus, as the warehouse retailer posted higher sales and benefited from higher membership fees.
Microsoft - The company will make its new Surface tablet available at more retailers, and will extend the run of temporary Microsoft holiday stores. Some of those locations will transition into permanent Microsoft retail outlets. Separately, office supplies retailer Staples has announced it will begin to carry the Surface this week.
Molycorp - CEO Mark Smith has left the producer of rare earth metal products. Constantine Karayannopoulos will service as interim chief executive while a search is conducted for a permanent CEO. Karayannopoulos is former CEO of Neo Material Technologies.
DuPont - DuPont sees full-year 2012 earnings at the high end of its previously projected range of $3.25 to $3.30 per share, versus Street estimates of $3.29 a share. The Dow Jones Industrial Average component also announced a $1 billion share buyback.
Lazard - Lazard has declared a special dividend of $0.20 per share, and the investment firm is also accelerating its regularly quarterly dividend — ordinarily payable in February — into December in anticipation of higher tax rates.
Thor Industries - The company is taking a similar action, declaring a special dividend of $1.50 per share, and accelerating its January quarterly dividend payment into December. Thor is a maker of recreational vehicles, commercial buses, and ambulances.
Dolby Laboratories - Dolby has declared a special dividend of $4 per share, payable on Dec. 27 to shareholders of record as of Dec. 21.
Moody's - The investment rating agency has boosted its quarterly dividend by 25 percent to $0.20 per share from $0.16 per share.
Cummins - Cummins has authorized a $1 billion share repurchase program, which comes as the engine maker's current $1 billion program nears its conclusion.
Big Lots - Company executives reportedly sold more than $23 million in stock in March, just before negative news that sank the price, according to The Wall Street Journal. These sales were made outside of prearranged trading plans, the publication reported.
Coinstar - The company's Redbox unit is launching an unlimited streaming video plan that also comes with four nights of physical DVD rentals for $8 per month. That's seen as a challenge to Netflix, which dominates the category.
Avon Products - Avon is cutting about 1,500 jobs globally, and also will exit the South Korea and Vietnam markets. The moves are part of a restructuring plan that was announced last month.
Apple - Apple is in the early stages of designing a large, high resolution TV set, according to The Wall Street Journal. Apple is working with Hon Hai, which assembles the iPad and iPhone, as well as Sharp, on the design of the new set, the publication reported.
TiVo - JPMorgan Chase raised its fourth-quarter estimate for subscriber additions, and boosted its price target for TiVo shares.
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Peter Schacknow
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