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Early movers: FDX, AMZN, GM, GPS, TMUS, JPM & more

A trader works on the floor of the New York Stock Exchange.
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A trader works on the floor of the New York Stock Exchange.

Check out which companies are making headlines before the bell:

FedEx–The shipping giant reported fiscal fourth quarter profit of $2.46 per share, beating estimates by 10 cents, with revenue also beating consensus. The company said fiscal 2014 was a good year and that it expects 2015 to be even better.

BlackBerry–The smartphone maker is expected to announce a deal today to gain access to Amazon.com's Appstore for its mobile devices, according to Dow Jones.

Walgreen–The drug store operator's stock was upgraded to "overweight" from "equalweight" at Barclays, saying the board is actively considering changes that will boost shareholder value.


Gap–The parent of Old Navy, Gap, and Banana Republic was upgraded to "buy" from "hold" at Cannacord Genuity, which said various initiatives will lead to faster than expected margin expansion.

Air Products—The specialty gas producer has named Seifi Ghasemi as its new chairman and CEO, effective June 30, replacing the retiring John McGlade. Ghasemi comes to Air Products from Rockwood Holdings, where he has been CEO.

Adobe Systems—The software producer reported fiscal second quarter profit of 37 cents per share, excluding certain items, seven cents above estimates. Its results were helped by strong growth in its subscription business for its Creative Cloud suite.

La-Z-Boy—La-Z-Boy earned 33 cents per share for its fourth quarter, one cent above estimates, but the furniture retailer's revenue fell short of consensus. The company's same-store sales posted their first decline in 3-1/2 years, with La-Z-Boy citing bad weather as a key factor.

T-Mobile US–T-Mobile is reportedly seeking to buy mobile spectrum from smaller rivals as a precaution in case a planned takeover of T-Mobile by Sprint falls through. The New York Post said the offers involve "low-band" spectrum, which T-Mobile does not currently own.

JPMorgan Chase– The battered investment bank ranked number one in revenue during the first quarter at $5.9 billion, according to a survey done by industry analytics firm Coalition. Goldman Sachs, Deutsche Bank, Bank of America Merrill Lynch, and Citi all tied for second place.

General Motors—CEO Mary Barra will be back on Capitol Hill today, testifying on the company's ignition switch recall before the House Energy and Commerce Committee.

Target—Target sold $2 billion in bonds at higher than average yields, with the retailer planning to use the proceeds to buy back as much as $1 billion in debt.

Pfizer–The drug maker signed a joint development deal with France's Cellectis which will focus on cancer immunotherapy drugs.

Amazon.com–The Internet giant is expected to unveil a new 3D smartphone at a media event today in Seattle.

Google–Google's YouTube confirmed it would launch a new subscription music service, with the launch coming within a few months.


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.