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Early movers: JPM, GS, JNJ, LO, TWX, TWTR & more

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

Check out which companies are making headlines before the bell:

JPMorgan Chase–Wall Street's biggest bank reported quarterly profit of $1.46 per share, beating estimates of $1.29. Revenue was also above estimates, and CEO Jamie Dimon said the company was seeing encouraging signs across all its businesses.

Goldman Sachs–The investment banking giant reported second quarter profit of $4.10 per share, well above estimates of $3.05. Revenue was also well above estimates, and CEO Lloyd Blankfein said the firm was pleased with results under a mixed operating environment.

Johnson & Johnson–J&J reported quarter profit of $1.66 per share, excluding certain items, beating estimates of $1.55. Revenue also beat estimates, with the company crediting new product launches among other things.

Lorillard –The tobacco big will be acquired by Reynolds American for $27.4 billion in cash and stock, or $68.88 per share. The two had publicly acknowledged their talks late last week, and CNBC had previously reported that the discussions were taking place.

GoPro–JMP Securities began coverage of GoPro with an "outperform" rating, saying the high definition camera maker has established itself as a "durable multimedia and active lifestyle brand."

Time Warner–Evercore downgraded the stock to "equal-weight" from "overweight" on a valuation basis, after the stock approached its prior $75 price target.

Comerica–The bank reported second quarter profit of 80 cents per share, beating estimates by four cents. Among the positives: Comerica was able to register a small gain in net interest margin from the prior quarter.

Twitter–Macquarie upgraded the stock to "neutral" from "underperform," saying it sees limited downside because of potential user growth and strong financial fundamentals.

Valero Energy—The energy producer predicting second quarter profit of $1.10 to $1.25 per share. That would fall below current Street consensus of $1.39, with the company citing seasonal weakness in the Gulf Coast market.

Apollo Education Group–The Department of Education said it would review federal financial aid programs at the for-profit education provider. The review comes amid increased scrutiny for companies like Apollo and Corinthian Colleges.

Lockheed Martin–Lockheed now has approval from U.S. military officials to fly its F-35 fighter jet. The company and the military want to fly the jet before potential buyers at the Farnborough air show this week.

Google–The tech giant's Nest Labs has officially launched an industry standards group aimed at devices for the interconnected home. The group is competing with another initiative led by Qualcomm.

Microsoft–The software company will announce its biggest round of job cuts in five years this week, according to a published report. The cuts involve the integration of the Nokia handset unit, which Microsoft purchased last year.

Staples–Staples has ended an in-store post office program, after protests by postal workers over the lack of union employees within those operations.

Novartis–The company will license "smart lens" technology from Google for its Alcon eye care unit. It will develop medical uses for that technology, particularly focusing on helping patients with diabetes.

CVS–The pharmacy chain has bought Navarro Discount Pharmacy, the largest Hispanic-owned drug store chain in the U.S., for an undisclosed amount.


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.