Market Insider

Early movers: UNH, JNJ, BAC, HOG, NFLX, TSLA, CAB, BUFF & more

Traders on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters

Check out which companies are making headlines before the bell:

UnitedHealth – The health insurer earned an adjusted $2.37 per share for the first quarter, 20 cents a share above estimates. Revenue beat Street forecasts and UnitedHealth raised its full-year outlook, helped by strength in its pharmacy benefit management unit.

Johnson & Johnson – Johnson & Johnson beat estimates by six cents a share, with adjusted first-quarter profit of $1.83 per share. Revenue fell short of estimates. The health care company did raise its full-year forecast, and also said the acquisition of Actelion should be completed this quarter.

Bank of America – The bank earned 41 cents per share for the first quarter, six cents a share above estimates. Revenue beat Street forecasts. Bank of America saw improved results from both loans and from trading.

Cardinal Health – The drug distributor bought a patent portfolio from medical products maker Medtronic in a $6.1 billion deal.

Harley-Davidson – The motorcycle maker earned $1.05 per share for its latest quarter, three cents a share above estimates. Revenue was below forecasts, and profit was down more than 25 percent from a year ago due to a drop in motorcycle shipments.

Netflix – Netflix reported quarterly profit of 40 cents per share, three cents a share above estimates. Revenue matched forecasts, but the big focus for investors is subscriber guidance and the conflicting views surrounding it. Some are focusing on a slowdown in both U.S. and international subscriber additions, others are focusing on an upbeat forecast for those numbers later in the year.

United Continental – United beat estimates by three cents a share, with adjusted quarterly profit of 41 cents per share. The airline's revenue scored a slight beat. The report covered the time period before the recent incident in which a passenger was dragged off one of United's flights, but much of the commentary focused on that incident, and will do so again this morning when United holds a conference call with analysts and reporters.

Tesla – A hazardous chemical spill occurred at Tesla's Gigafactory battery facility in Nevada, but there were no serious injuries.

Post Holdings – The cereal maker will buy British cereal brand Weetabix from China's Bright Food Group for nearly $1.8 billion. There had been reports Monday afternoon during the trading day that Post was close to striking the deal.

Fidelity & Guaranty – The company terminated its agreement to be taken over by China's Anbang Insurance. Reuters had reported Monday morning that the deal would be canceled because of Anbang's failure to win the necessary regulatory approval to take over the US-based life insurer.

IRobot – IRobot has sued rival vacuum cleaner makers Hoover and Stanley Black & Decker, accusing them of patent infringement. IRobot, the maker of the Roomba robotic vacuum, said its rivals are using several of its patents for robotic vacuums.

Cabela's – Cabela's will sell its banking assets to Synovus Financial, clearing the way for the retailer of sporting goods and outdoor products to be bought by Bass Pro Shops. Cabela's had planned to sell both its credit card portfolio and its banking assets to Capital One Financial, but the plan was opposed by regulators. Capital One will still go ahead with its purchase of the credit card portfolio.

Rambus – The chipmaker has expanded a memory chip collaboration with Microsoft, involving the optimization of memory chip performance at cryogenic temperatures.

Barracuda Networks – Barracuda reported quarterly profit of 19 cents per share, beating estimates by four cents a share. Revenue also topped estimates, however the cybersecurity company's shares were pressured after it did not issue a current-quarter forecast.

Cummins – Cummins was downgraded to "neutral" from "overweight" at Piper Jaffray, which cites the potential negative impact on the engine maker of Tesla's plan to introduce an electric truck later this year.

Match Group – Jefferies initiated coverage on the dating website's stock with a "buy" rating, as Match's Tinder operation accelerates its monetization efforts.

Blue Buffalo – The pet food company was raised to "Top Pick" at Citi, which also added it to its U.S. Focus List. Citi said a recent sell-off in the shares offers the opportunity to own "the best U.S. food growth story" at an attractive valuation.