Early movers: GE, HON, GS, AXP, SLB, MAT, VZ & more
Check out which companies are making headlines before the bell:
General Electric—GE reported adjusted quarter profit of 31 cents per share, 1 cent above estimates. Revenue was below forecasts, due in part to a $950 million negative impact from currency effects.
Honeywell—The conglomerate beat estimates by 2 cents with quarterly profit of $1.41 per share, though revenue fell slightly below analyst forecasts. The company gave a cautious sales outlook, but said expanding profit margins should boost the bottom line.
Reynolds American—The tobacco producer reported adjusted quarterly profit of 86 cents per share, 6 cents above estimates, with revenue also above forecasts. Reynolds saw declining sales and a smaller market share, but was able to benefit from higher prices.
Goldman Sachs—Goldman was downgraded to "market perform" from "outperform" at Keefe, Bruyette & Woods, based on valuation.
Hershey—The chocolate maker's stock was removed from the U.S. Focus List at Citi, after the firm cut first quarter earnings estimates for Hershey on reduced gross margins. However, Citi does see an acceleration in margins and profit for Hershey following the quarter.
Aruba Networks—The Federal Trade Commission granted antitrust clearance for Hewlett-Packard's proposed acquisition of Aruba.
Travelers—Barclays cut its rating on the insurer's stock to "equal weight" from "overweight," because of "sustained headwinds" in commercial and property and casualty insurance, as well as valuation.
American Express—Amex earned $1.48 per share for its latest quarter, 11 cents above estimates. However, revenue was short of forecasts, due to a strong dollar and the end of several co-branding relationships.
Schlumberger—The oilfield services firm earned an adjusted $1.06 per share for its latest quarter, beating estimates by 17 cents. The Schlumberger's revenue, however, fell short, and the company said it would cut another 11,000 jobs and cut capital spending in anticipation of continued lower oil prices.
Advanced Micro Devices—AMD lost 9 cents per share for its latest quarter, 4 cents wider than analysts had anticipated, and revenue was slightly short of estimates as well. The chip maker also said it would exit its "dense server" business, which had focused on data center efficiency and reduction of power consumption.
Mattel—The toymaker reported a quarterly loss of 8 cents per share, 1 cent smaller than expected, and Mattel's revenue beat Street forecasts for the first time in a year and a half as new CEO Christopher Sinclair focuses on a turnaround plan.
Manitowoc—Manitowoc said it would report a first quarter loss, with the company's food service segment being hurt by a cut in capital spending by large restaurant chains.
ASML—The chip maker now has JPMorgan Chase as a 5.35 percent stakeholder, according to Dutch financial authorities. JPM was required to disclose its holding in ASML under Dutch rules because it reached the 5-percent threshold.
Verizon—The company rolled out a new plan for its FiOS customers which allows consumers to make monthly choices of which channels they want to see.
Syngenta—The Swiss company reported lower than expected quarterly sales, as Syngenta saw U.S. demand for its crop protection products hurt by the strong dollar and by severe winter weather.
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