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Check out the companies making headlines before the bell:
General Motors – GM earned $1.43 per share during the second quarter, beating the consensus estimate of $1.24 a share. Revenue also topped forecasts, amid record revenue in China and for GM's finance unit.
United Parcel Service – UPS beat estimates by a penny a share, with quarterly earnings of $1.55 per share. Revenue also exceeded estimates. Separately, UPS is offering management buyouts in an effort to cut payroll costs. The offers are voluntary, and the delivery company did not say how many jobs it hopes to eliminate.
Southwest Airlines – Southwest beat estimates by a penny a share, with adjusted quarterly profit of 75 cents per share. The airline's revenue was short of forecasts. Southwest said it was benefiting from a lower tax rate, however the airline warned that reservations have declined in the wake of a deadly mid-air engine failure aboard one of its flights.
Dunkin' Brands – The restaurant operator beat estimates by 11 cents a share, with adjusted quarterly profit of 62 cents per share. Revenue fell short of estimates, however, and the shares are being pressured after Jim Chanos of Kynikos Associates told CNBC he was short the stock due to flat to declining comparable sales. Chanos also said he was short shares of Restaurant Brands International, the parent of Tim Hortons, Burger King, and Popeyes.
PepsiCo – The beverage and snack giant beat estimates by 3 cents a share, with adjusted quarterly profit of 96 cents per share. Revenue topped estimates, as well. Organic growth was up 2.3 percent during the quarter, and the company reaffirmed its full-year guidance.
DR Horton – The home builder came in 6 cents a share above estimates, with quarterly profit of 91 cents per share. Revenue beat forecasts as new orders rose 13 percent in both dollar volume and for units sold.
Hershey – The chocolate maker came in a penny ahead of estimates with adjusted quarterly profit of $1.41 per share, while revenue also beat forecasts. Hershey also said it sees 2018 sales at the lower end of its prior forecast.
Hilton Worldwide – Hilton beat estimates by 4 cents a share, with adjusted quarterly profit of 55 cents per share. It also raised its full-year forecast amid strong demand in the European and Asia Pacific markets.
Abercrombie & Fitch – Evercore initiated a 10 percent long position in the apparel retailer following a management meeting. The firm said it came away impressed with a positive shift in corporate culture and a shift from a brand-centric to a customer-centric company.
Facebook – Facebook earned $1.69 per share for the first quarter, compared to the consensus $1.35 estimate. The social network operator's revenue also came in above Street forecasts. Facebook also announced an additional $9 billion in stock buybacks.
Qualcomm –Qualcomm reported adjusted quarterly profit of 80 cents per share, 10 cents a share above estimates. The chipmaker's revenue slightly above forecasts. Qualcomm's results suggest less of a slowdown in the global smartphone market than recent forecasts from suppliers may have suggested.
AT&T – AT&T came in 2 cents a share shy of estimates, with adjusted earnings of 85 cents per share. Revenue also fell short of expectations. Among other factors, AT&T said its results were hurt by higher wireless equipment costs and a loss in traditional video subscribers.
Visa – Visa beat consensus forecasts by 9 cents a share, with adjusted quarterly profit of $1.11 per share. Revenue topped forecasts, as well. The payment network operator also raised its full-year outlook as global credit card use increases.
Chipotle Mexican Grill – The restaurant chain reported quarterly profit of $2.13 per share, compared to the consensus $1.57 a share estimate. The restaurant chain's revenue was in line with forecasts, amid a 2.2 percent increase in comparable-store sales. Chipotle also announced an additional $100 million stock buyback program.
PayPal – PayPal reported adjusted quarterly profit of 57 cents per share, 3 cents a share above estimates. Revenue also came in above forecasts on increasing mobile payment volume.
Ford Motor – Ford came in 2 cents a share above estimates, with adjusted quarterly profit of 43 cents per share. Revenue also beat forecasts. The automaker announced it was accelerating plans to boost profit margins by cutting capital spending and discontinuing some vehicle lines.
Advanced Micro Devices – AMD earned an adjusted 11 cents per share for its latest quarter, 2 cents a share above forecasts. The chipmaker's revenue beat estimates, as well. AMD is also predicting current-quarter revenue well above Street projections as semiconductor prices rise amid strong demand.
Cheesecake Factory – Cheesecake Factory posted a mixed quarter, with its 56 cents per share profit falling 12 cents a share short of estimates. Revenue exceeded estimates, as well. The restaurant chain's comparable sales were up 2.1 percent.
Johnson & Johnson – The company won an appellate court ruling overturning a $151 million verdict against the medical device maker. The plaintiffs had sued J&J over injuries allegedly related to the company's Pinnacle hip implant devices.
General Electric – GE spurned an approach from Danaher for its life sciences business, according to The Wall Street Journal. People familiar with the matter told the Journal that Danaher expressed interest, but GE did not engage in talks and is not pursuing a deal.