Take a look at some of Friday’s morning movers:
JPMorgan Chase - The banking giant earned $1.31 per share for the first quarter, compared to estimates of $1.18, with revenue well above forecasts. The company says its investment banking business was particularly strong, although CEO Jamie Dimon also adds that elevated mortgage-related costs and losses may continue for a while longer.
Wells Fargo - The bank earned $0.75 per share for the first quarter, two cents above estimates, with revenues also beating Street forecasts.
Google - The company reported quarterly profit of $10.08 per share compared to estimates of $9.65. Revenue was largely in line with estimates, with Google also announcing a two-for-one stock split. That split creates new classes of stock in a move designed to solidify the power of co-founders Sergey Brin and Larry Page.
Dow Chemical - The chemical maker has raised its quarterly dividend by 28 percent, with its payout rising to 32 cents per share from the prior 25 cents. Dow also says it expects earnings to grow for the foreseeable future.
Best Buy - The electronics retailer says it’s creating a search committee to find a replacement for recently resigned CEO Brian Dunn. The search may take up to nine months, and interim CEO Mike Mikan will be among those considered for the job.
Coinstar - The company is raising its current quarter revenue outlook, citing better-than-expected sales at its Redbox DVD rental unit. It now expects first quarter revenue of $567 million to $569.2 million, compared to the prior range of $530 million to $555 million.
Adobe - The software maker has announced a $2 billion dollar stock buyback program, saying the new program will run through the end of fiscal 2015.
Videogame makers like Electronic Arts and Activision Blizzard are on the watch list today, after NPD reported that videogame industry sales fell 25 percent in March, with both hardware and software sales taking a hit.
Infosys - The software producer saw its shares tumble in overseas trading, after it issued a worse-than-expected outlook for revenue growth. It cites an uncertain global economy and volatility in the currency markets.
Apple - Apple says the U.S. Justice Department’s accusations in a lawsuit involving electronic book pricing are “simply not true.” The U.S. alleges Apple and others colluded to keep prices high, but Apple says the launch of the iBookstore was designed to heighten competition and break Amazon.com’s “monopolistic grip” on the e-book market.
Gap - Jefferies reiterated its "Buy/Top Pick" rating on clothing retailer Gap, following a meeting with the company's management. It says it has increased confidence in the company's strategic direction.
Illinois Tool Works - Morgan Stanley has downgraded the stock to "underweight" from "equal weight."
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