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Check out which companies are making headlines before the bell:

PepcoExelon is buying Pepco for $27.25 per share in cash, or a total of about $6.8 billion. The combined company will serve about 10 million customers in the mid-Atlantic region.

Time Warner–The company earned 91 cents per share for the first quarter, three cents above estimates, with revenue also above estimates. The results were helped by strong performances from the Warner Brothers movie business as well as HBO.

Energizer–The company plans to split into two separate publicly traded entities: one focusing on health care, the other on household products.

Hyatt–The hotel chain earned 13 cents per share for the first quarter, two cents above estimates, on increases in both occupancy and revenue.

WellPoint Health–The health insurer earned $2.30 per share for the first quarter, 18 cents above estimates, with the bottom line aided by more members and lower claim payouts.

Southern–The utility earned 66 cents per share for the first quarter, beating estimates by ten cents, with revenue also above consensus. Southern said its results were helped by colder than normal weather.

Twitter–The microblogging site reported a break-even second quarter, a better performance than analysts had expected. Although Twitter's revenue impressed on the upside, the second quarter and full-year outlook was short of estimates—as was its 5.8 percent increase in monthly active users.

Apple–The tech giant sold $12 billion in debt to fund its plan to buy back stock and increase its dividend.

Wells Fargo–The bank increased its quarterly dividend by 17 percent to 35 cents per share.

General Electric–GE's $16 billion offer for Alstom's energy unit has been accepted, but Alstom is giving Germany's Siemens a month to submit its own bid.

eBay–The online auction site reported first quarter profit of 70 cents per share, excluding certain items, three cents above estimates, although its current quarter outlook falls short of consensus. The company will also take a $3 billion non-cash charge to repatriate a portion of its foreign earnings, in order to more than double its available U.S. cash.

Express Scripts–The pharmacy benefits manager fell two cents short of estimates with first quarter profit of 99 cents per share, excluding certain items, and its second quarter outlook is short of analyst forecasts as well. Express Scripts cut its full-year outlook due to weakness in prescription volume. Separately, the company disclosed the receipt of three subpoenas from officials on its relationships with various drug companies.

Marriott–Marriott came in six cents above estimates with first quarter profit of 57 cents per share, with the hotel chain noting strong room rates and a rise in occupancy.

Costco–The warehouse retailer increased its quarterly dividend to 35-1/2 cents per share from 31 cents.

Panera Bread–The restaurant chain reported first quarter profit of $1.55 per share, three cents above estimates, with revenue topping forecasts as well. However, it issued a disappointing current quarter outlook.

Sanofi–The company is exploring the sale of part of its drug portfolio, according to Reuters. Sources say the drugs that are up for sale could bring in as much as $8 billion.

By CNBC's Peter Schacknow

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