Early movers: UAL, WFM, LULU, MYL, WMT, PEP & more
Check out which companies are making headlines before the bell:
United Continental — Shares of the airline, which is caught up in a public relations nightmare, are trading slightly higher Wednesday morning, recovering losses of as much as 4 percent on Tuesday. Chief Executive Oscar Munoz appeared on ABC's "Good Morning America" Wednesday morning, issuing a more formal apology and promising "this will never happen again."
Whole Foods Market — Shares of Whole Foods dropped on Tuesday after jumping nearly 10 percent on Monday when activist investor Jana Partners took a near 9 percent stake in the company, making Jana the second-largest shareholder in the grocery chain. The activist investor is reportedly pressuring Whole Foods to consider a sale, as the chain has while other grocers make inroads into its natural and organics foods business.
Lululemon — The athletic apparel brand was upgraded to "buy" from "hold" at Stifel, with the firm explaining why investing in Lululemon presents an opportunity for long-term investors. After a "merchandising misstep" in the first quarter of the year, Stiefel said the company should be able to bring in "newness" and innovation to excite customers again.
Delta Air Lines — The airline reported a more than 36 percent decline in quarterly profit and has forecast its passenger unit revenue — a metric closely watched by Wall Street — to increase 1 percent to 3 percent in the second quarter of 2017.
Mylan — Shares of the drugmaker began falling Tuesday afternoon following the release of a letter to the firm from the Food and Drug Administration (FDA), which raised concerns about quality controls at one of Mylan's manufacturing plants in India. The FDA stated in its letter several violations at the plant in question included a failure to "thoroughly investigate" unexplained discrepancies in drug batches, along with "missing, deleted, and lost data."
Wal-Mart Stores — News surfaced Tuesday that the big-box retailer is eliminating hundreds of jobs in its latest attempt to cut costs, as it invests in online and competes with e-commerce giant Amazon. A spokesman confirmed to CNBC that the layoffs will span the company's international, technology and Sam's Club divisions.
Pepsi — The beverage and snacks company was upgraded to positive from neutral at Susquehanna on Wednesday, with the firm citing the fact that Pepsi shares are trading at a discount. Further, the analyst said Pepsi could be involved in more M&A deals in 2017, such as something with U.S. food and beverage conglomerate Kraft Heinz.
Rent-A-Center — Shares of the rent-to-own business surged earlier in the week after Rent-A-Center announced a new strategic plan, which excited investors. Stifel issued an updated note to clients on Wednesday, writing: "Rent-A-Center is clearly in a fight to retain control of the company ... There is no doubt that Rent-A-Center has been poorly managed in recent years." The firm maintains a hold rating on Rent-A-Center stock.