Take a look at some of Tuesday's morning movers:
FedEx - reported fiscal fourth-quarter profit of $1.99 per share, excluding certain items, seven cents above estimates. But current-quarter and full-year guidance is short of estimates, with FedEx saying it's facing increasing employee-related costs and pension expenses. The delivery service says it will be taking steps to reduce costs and improve efficiencies.
Walgreen - The drugstore chain operator is paying $6.7 billion for a 45 percent stake in Britain's Alliance Boots, with an option to acquire the rest over the next few years. Separately, Walgreen announced a 22 percent dividend hike, as well as quarterly earnings that matched analyst estimates.
Oracle - Oracle earned $0.82 per share for its fourth quarter, four cents above estimates, in a surprise earnings report that was not scheduled to be released until Thursday afternoon. It also authorized an additional $10 billion for stock buybacks. The early release was seen by many as a way of alleviating concern over the news that Oracle Executive Vice President Keith Block has left the company.
Expedia - Piper Jaffray has downgraded the travel website operator's shares to "neutral" from "overweight" on a valuation basis, with the shares having jumped more than 50 percent since the end of April.
Autodesk - The software maker has authorized the addition of 30 million shares to its stock buyback program, in addition to the 12 million that remain under previously authorized programs.
Chesapeake Energy - The energy producer has named Vincent Intrieri to its board, according to CNBC’s Kate Kelly. Intrieri is senior managing director for activist investor Carl Icahn. Kelly also reports that a new Chesapeake chairman and additional directors will be named by Friday.
J.C. Penney - President Michael Francis has left the company, with CEO Ron Johnson assuming responsibility for marketing and merchandising. A brief statement gave no reason for the departure of Francis after just over eight months on the job.
Facebook - Susquehanna has repeated its “positive” rating on Facebook shares, saying the company is making significant progress in ad targeting and creating new products to leverage its user base.
PerkinElmer - The technology provider's stock has been added to the "Conviction Buy" list at Goldman Sachs, with Goldman saying the company's guidance looks conservative and that it has the potential to expand its profit margins relative to its peers.
Baxter International - Goldman has also added Baxter to its "Conviction Buy" list, saying the medical products maker will bounce back from new product delays that have helped send the stock down 16.5 percent since April 1.
OfficeMax - Investment firm Neuberger Berman is calling on the company to pay a dividend or repurchase shares. Neuberger also disclosed in a U.S. Securities and Exchange Commission filing that it’s raised its stake in the office supplies retailer to 5 percent from an earlier 4 percent.
Microsoft - The software giant has launched its first tablet computer, called the “Surface,” designed to compete with Apple’s iPad and spur sales of its upcoming Windows 8 operating system.
Bank of New York Mellon - The bank has settled a dispute with Prudential Financial over foreign-exchange transaction pricing. This case is one of several in which BNY Mellon was accused of improperly charging customers in currency transactions. A court filing says BNY Mellon has agreed to repay more than half the revenue earned from Prudential’s trades.
Lockheed Martin - The defense contractor and the union representing 3,600 striking workers will meet with federal mediators later this week in an attempt to settle a more than eight week old strike. Mediation sessions will begin tomorrow, as the union remains on strike in a dispute centering on pension benefits.
JPMorgan Chase - CEO Jamie Dimon heads back to Capitol Hill for another round of congressional testimony, this time before the House Financial Services Committee. His testimony will be identical to that given to a Senate Panel last week.
—By CNBC’s Peter Schacknow
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