Early movers: BAC, MAT, YHOO, DELL, BK & more
Check out which companies are making headlines before the bell on Wednesday:
Bank of America — The bank earned 32 cents per share for the second quarter, seven cents above estimates. CEO Brian Moynihan said while more improvement is needed, the bank saw better results across all its customer groups.
Bank of NY Mellon —The company reported second quarter profit of 62 cents per share, excluding certain items, five cents above estimates, with revenues also exceeding consensus. The bank's results were helped by increase in fee revenue.
Mattel —The toymaker reported second quarter profit of 21 cents per share, 11 cents below estimates. Mattel points to strategic investments designed to support future growth, and is expressing optimism about future prospects.
Yahoo — The company reported second quarter profit of 35 cents per share, excluding certain items, five cents above estimates. Revenue, however, was slightly short of consensus, and Yahoo's third quarter revenue outlook also fell short, with prices paid per display ad down 12 percent from a year ago.
PNC Financial — The bank earned $1.99 per share for the second quarter, beating estimates of $1.63, with revenues also above consensus. PNC saw non-interest income and mortgage origination improve, although net interest margins fell.
CSX — The rail operator reported second quarter profit of 52 cents per share, five cents above estimates, with revenues also registering a beat. CSX also saw increases in merchandise and intermodal shipments, helping to offset a drop in coal shipments.
United Rentals —The company earned $1.12 per share for its second quarter, 11 cents above estimates. Revenues of $1.21 billion were a bit shy of Street forecasts, though the company is benefiting from a trend towards rentals rather than purchases of industrial and construction equipment.
Realogy— Realogy predicts its second quarter earnings will beat expectations as the real estate market recovers. The real estate services firm also said Apollo Global Management is selling its remaining 25.1 million share stake in the company, currently valued at about $1.24 billion.
Dell — Dell has issued yet another letter to shareholders from its Special Committee, the latest volley in a back-and-forth with investor Carl Icahn. The letter urges shareholders to vote for the current buyout offer of $13.65 per share from founder Michael Dell and Silver Lake Partners. A special meeting to vote on the offer is set for tomorrow, though CNBC has reported that the meeting may be postponed if it appears the offer will be voted down.
Boeing —The jet maker will be sued by a Chicago law firm in connection with the Asiana Airlines flight that crashed in San Francisco on July 6. Ribbeck Law said the crash may have been caused by a malfunction of the auto-throttle.
Barclays —The bank plans to fight a U.S. fine of $453 million for alleged manipulation of electricity prices between 2006 and 2008.
McGraw-Hill Financial —McGraw-Hill-owned Standard and Poor's will have to face a $5 billion civil fraud lawsuit by the U.S. government over its credit ratings. A judge in California dismissed S&P's motion to throw out the suit.
Novartis —The drug maker has raised its full year outlook, after generic competition to the company's best-selling blood pressure pill was delayed into 2014.
Google —European Union regulators want more concessions from Google in a case involving competition among search providers. Competition commissioner Joaquin Almunia told a news conference that remedies offered by Google to allay concerns are not enough.
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Peter Schacknow
Questions? Comments? Email us at email@example.com