Early Movers: JPM, GPS, HD & More
Check out which companies are making headlines before the bell on Friday:
Wells Fargo (WFC) - Wells Fargo earned $0.92 per share forthe first quarter, four cents above estimates, while revenues came in slightlybelow consensus. The nation's largest mortgage loan provider did reportlower mortgage banking income.
JPMorgan Chase - The bank reported quarterly profit of $1.59 per share, 20 cents above estimates, with revenue in line with consensus. The results included an 18-cent-per-share gain on reduced loss reserves for credit card and mortgage loans.
Gap - The clothing retailer reported a drop of 1 percent in same-store sales for March. The drop is slightly smaller than analysts were anticipating. CEO Glenn Murphy said the company is pleased with the month and focused on selling a strong spring product line.
(Read More: Unusually Cold March Puts a Chill in Retail Sales)
Home Depot - Jefferies has upgraded the home improvement retailer's shares to "buy" from "hold," saying cold spring weather won't impede Home Depot's ability to post strong same-store sales gains for the first quarter.
(Read More: See the Day's Top Percentage Winners & Losers)
J.B.Hunt Transport - J.B. Hunt reported first-quarter profit of $0.61 per share, three cents below estimates, with revenue in line with consensus. The transport company's intermodal division registered a 15 percent increase in revenue, but the trucking segment posted a decline.
Weyerhaeuser - The company has raised its quarterly dividend by 18 percent to $0.20 per share. The increase will cost the forest product producer an additional $16.3 million per quarter.
Eli Lilly - Lilly will lay off about 30 percent of its U.S. sales force, amounting to about 1,000 jobs. The layoffs come as Lilly prepares to lose patent protection for key drugs Cymbalta and Evista.
Harris Corp. - Harris expects to earn $1.12 per share for its third quarter, below analysts' estimates of $1.26, with revenue also coming in light. The military contractor puts the blame on the budget sequester.
Infosys - The company forecasting revenue growth of six to 10 percent for the 2014 fiscal year, below Street estimates. The software services firm has been losing market share to competitors and has been slowing the pace of hiring.
Elan - Shareholders have approved a $1 billion share buyback plan. The drugmaker is in the process of trying to fend off a takeover from U.S-based investment firm Royalty Pharma.
NXP Semiconductors - NXP is revising its fourth-quarter earnings higher to $0.56 per share from the originally reported $0.56 a share, as it excludes stock-based compensation from its numbers. The former chip unit of Royal Philips Electronics has also announced a business unit realignment.
Rite Aid - Raymond James has upgraded the drug store chain to "outperform" from "market perform," following its second straight profitable quarter.
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Peter Schacknow
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