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Early movers: KMX, BA, GM, AIG, BAC, C, MYL & more

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

Check out which companies are making headlines before the bell:

CarMax–The auto retailer reported fourth quarter profit of 52 cents per share, excluding certain items, missing estimates by a penny, with revenue also below estimates. However, the company did increase its share buyback program by one billion dollars, and said it also corrected an accounting issue during the fourth quarter related to extended warranties and related issues.

Micron Technology–The chipmaker reported fiscal second quarter profit of 85 cents per share, excluding certain items, nine cents above estimates. Revenue was also above consensus, as a rebound in chip prices helped Micron's results.

Bank of America–The banking giant is close to a settlement with the Consumer Financial Protection Bureau over credit card add-on services, according to multiple reports. The Wall Street Journal puts the settlement amount at more than $800 million.

Global Payments–The company earned 96 cents per share, excluding certain items, for its third quarter, beating estimates by a penny. The credit card processor did raise its yearly forecast, despite last quarter's increase in interest expenses.

Align Technology–The maker of the Invisalign orthodontic system said the International Trade Commission has made an initial determination that rival ClearCorrect violated five of Align's patents.

GameStop–Bank of America/Merrill Lynch upgraded the video game retailer's stock to "buy" from "neutral", saying the stock's recent slide improves its risk/reward profile, and that GameStop will benefit from the new versions of game consoles hitting the market.

Boeing–Boeing is considering buying Mercury Systems, a supplier of digital signal and image processing systems to Boeing and other defense contractors. Mercury currently has a market value of about $440 million.

GrubHub (GRUB) – The online food delivery service begins trading today on the New York Stock Exchange after pricing its IPO at $26 per share. That was above the expected range of $23 to $25.

AIG–The insurance big New York State regulators to stop an investigation of insurance marketing by a unit no longer owned by AIG. MetLife bought American Life Insurance, as well as another AIG unit, in 2010.

Coca-Cola –Coke is being criticized once again by activist investor Wintergreen Advisors, which owns more than 2.5 million shares. CEO David Winters told CNBC's "Closing Bell" that the Coke's stock buyback plan has "been hijacked" by the company, and repeated his criticism of Coke's management compensation plan.

General Motors–The auto giant has boosted discounts on its full-size Chevy Silverado pickup truck, after rival Chrysler Ram 1500 outsold the Silverado in March. Separately, the National Highway Traffic Safety Administration said it has been receiving documents from the automaker on its controversial ignition switch recall, after issuing a special order requiring GM to produce documents and answer questions.

Mylan–The pharmaceutical behemoth may buy Swedish rival Meda, according to the Financial Times, a combination that would create a $23 billion company. In a separate story, Mylan is suing Celgene, to stop that company's efforts to prevent Mylan from marketing generic version of two Celgene drugs, Revlimid and Thalomid.

Brown-Forman–The company may be mulling a bid for spirits producer Remy Cointreau, according to European traders citing a report on the "Betaville" blog.

Citigroup–Senior executive Gene McQuade has reversed retirement plans and instead will lead Citi's efforts to get Fed approval for increasing stock buybacks and dividends. McQuade has been serving as CEO of the company's U.S. operating subsidiary, Citibank.

Potbelly–William Blair upgraded the sandwich chain's shares to "outperform" from "market perform."

By CNBC's Peter Schacknow

Questions? Comments? Email us at marketinsider@cnbc.com

  • Patti Domm

    Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.

  • A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

  • CNBC Senior Commodities Correspondent and Personal Finance Correspondent

  • JeeYeon Park is a writer for CNBC.com. Follow her on Twitter: @JeeYeonParkCNBC

  • Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.

  • Senior Producer at CNBC's Breaking News Desk.