Check out the companies making headlines before the bell:
Johnson & Johnson (JNJ) – Johnson & Johnson reported quarterly profit of $1.88 per share, 1 cent a share above estimates. Revenue was slightly below forecasts. J&J's bottom line was helped by strength in medical devices and improved profitability in its consumer business.
Moderna (MRNA) – The drugmaker said it is working with health officials on a potential vaccine to address the current coronavirus threat. The virus has caused nine deaths, and the Centers for Disease Control and Prevention has confirmed the first U.S. case.
Fifth Third (FITB) – The bank reported quarterly profit of 96 cents per share, well above the consensus estimate of 72 cents a share. Revenue also came in above estimates. Strong fee revenue was among factors boosting Fifth Third's results.
Netflix (NFLX) – Netflix added 8.76 million paying global subscribers during the fourth quarter, more than the 7.6 million that analysts had expected. The video streaming service did note increased competition in the United States, however, and that it will become more intense globally after Walt Disney's (DIS) Disney+ service launches across Europe in March.
Boeing (BA) – Boeing remains on watch after falling 3.3% Wednesday. The jet maker's stock fell after it said that it now estimates a mid-2020 return for its grounded 737 Max jet.
IBM (IBM) – IBM reported quarterly profit of $4.71 per share, 2 cents a share above estimates. Revenue also came in better than Street forecasts and broke a five-quarter streak of year-over-year declines. IBM also gave better-than-expected full-year 2020 earnings guidance.
United Airlines (UAL) – UAL beat estimates by 2 cents a share, with quarterly profit of $2.67 per share. The airline's revenue was very slightly above expectations. United's performance came despite numerous flight cancellations resulting from the grounding of Boeing's 737 Max jet.
Toyota (TM) – Toyota said it would recall 3.4 million vehicles globally due to an electronic defect that could prevent airbags from deploying in a crash.
Xerox (XRX) – Xerox plans to nominate up to 11 directors to the board of computer and printer maker HP Inc. (HPQ), according to The Wall Street Journal, as it tries to move its unsolicited $33 billion takeover bid for HP forward.
Tesla (TSLA) – Tesla crossed the $100 billion market cap threshold in off-hours trading. A number of stock option bonuses for CEO Elon Musk will trigger if the market cap stays at $100 billion or more for an average of one month and six months.
Intel (INTC) – Intel named Medtronic (MDT) CEO Omar Ishrak as its new independent chairman effective immediately, after Andy Bryant stepped down from that role at the chipmaker earlier this month.
Apple (AAPL) – A new low-cost Apple iPhone will go into mass production in February, according to people familiar with the plan who spoke to Bloomberg.
