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Early movers: SJM, MSFT, GM, F, S, TMUS, LB & 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:

Joy Global–The mining equipment maker earned 76 cents per share, excluding certain items, for its second quarter, five cents above estimates, though revenue was shy of forecasts. Its customers spent less on equipment as coal prices weakened.

J.M. Smucker–The food producer beat estimates by five cents with fiscal fourth quarter profit of $1.21 per share, excluding certain items. Smucker said it would benefit this year from an increase in the retail price of coffee

Amazon.com —The Internet retail giant leads our list of stocks to watch, on the heels of its announcing a new product launch on June 18. Speculation is growing that Amazon will release a smartphone at that event, although that's not been confirmed.

Ciena–The network equipment maker reported fiscal second quarter profit of 17 cents per share, excluding certain items, four cents above estimates. Revenue was above estimates as well, and the company said revenue trends will strengthen further in the second half of the year.

L Brands–The retailer reported a same-store sales increase of 3 percent for May, above estimates of a 2.3 percent increase.

Microsoft– The stock was upgraded to "outperform" from "market perform" at FBR Capital, which expressed confidence in new CEO Satya Nadella's plans for the company.

Smith & Nephew–The medical devices maker would be worth at least 14 percent more in a takeover by either Medtronic or Stryker, according to a Bank of America/Merrill Lynch report.

Bankrate–The financial information service was upgraded to "outperform" from "sector perform" at RBC Capital, after the stock retreated sharply from recent highs in the wake of a secondary offering and general bearishness about internet-related stocks. RBC said Bankrate's fundamentals have not changed.

General Motors–GM will release the results of its internal probe into its controversial ignition switch recall today. CNBC's Phil LeBeau reports GM CEO Mary Barra will take "significant actions" including holding specific employees accountable.

T-Mobile U.S.–T-Mobile and Sprint are close to an agreement on a merger deal that would value T-Mobile at about $40 per share, according to CNBC's Andrew Ross Sorkin.

Ford–The automaker expects a "significant" loss in South America this quarter because of low sales and foreign currency issues in Venezuela.

PVH–The company behind the Calvin Klein and Tommy Hilfiger brands earned $1.47 per share for the first quarter, excluding certain items, two cents below estimates, and also cut its full-year guidance because of margin pressures in North America.

Five Below–The retailer beat estimates by a penny with first quarter profit of seven cents per share, excluding certain items. It also raised its full-year sales forecast and noted an improvement in gross margins.

Verint Systems–Verint earned 72 cents per share for the first quarter, excluding certain items, 17 cents above estimates, with revenue also well above forecasts. The maker of data analysis software also raised its full year revenue outlook.

Rockwell Automation–Rockwell has announced an addition of $1 billion to its stock buyback program. The maker of factory automation equipment had about $223 million remaining in authorizations from an earlier $1 billion buyback.

Twitter–The microblogging site is said to be in talks to buy music platform SoundCloud, according to the Financial Times.


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 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.