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Check out which companies are making headlines before the bell on Wednesday:

Comcast - The NBCUniversal parent earned $0.51 per share, excluding certain items, for the first quarter, one cent above estimates. Revenue came in slightly below forecasts, with theme parks and cable among the areas showing increases, and broadcast revenues showing a double-digit drop. (Disclosure: Comcast owns NBCUniversal, which is the parent company of CNBC and CNBC.com.)

Merck - Merck earned $0.85 per share for the first quarter, excluding certain items, six cents above estimates. Revenue was short of consensus, hurt by generic competition for its Singulair asthma drug. Merck's results were also hurt by a stronger dollar, which hit overseas sales. The drug maker also announced a new $15 billion stock buyback program.

Time Warner - Time Warner earned $0.82 per share for the first quarter, excluding certain items, seven cents above estimates. Revenue fell short of analysts' forecasts, as declines at the film, TV entertainment, and publishing segments offset gains at the company's networks division.

(Read More: See the Day's Top Percentage Winners & Losers)

Garmin - Garmin missed estimates by one cent a share with first quarter profit of $0.40 per share, excluding items. Sales, however, were above estimates for the maker of GPS devices, thanks to increases in its fitness and aviation segments.

CVS Caremark - The drugstore chain operator and health insurer earned $0.83 per share for the first quarter, excluding items, four cents above estimates. Revenue also beat forecasts, helped by increased demand for less expensive generic drugs.

DreamWorks Animation - DreamWorks reported first-quarter profit of $0.07 per share, compared to expectations of a $0.03 per share loss. Revenue also was well above estimates, with the success of the animated film "The Croods" helping to drive results.

Apple - Apple finalized a $17 billion debt sale to raise money for increased dividend payments and stock buybacks.

Bloomin' Brands - Bloomin' earned $0.50 per share for the first quarter, six cents above estimates, and the Outback Steakhouse parent also raised its full-year estimate as sales improve. However, that forecast of $1.06 to $1.10 per share for the year is largely below consensus estimates of $1.10 a share.

Western Union - The company earned $0.37 per share for the first quarter, five cents above estimates, though revenue was slightly below forecasts. Western Union saw transaction volume for its money transfer services increase in markets where it has cut prices.

OpenTable - SAC Capital has taken a 5 percent stake in the online restaurant reservations provider.

Bankrate - Bankrate reported first-quarter profit of $0.12 per share, excluding certain items, three cents above estimates, with revenue also beating forecasts. Bankrate is a provider of financial information on mortgages, credit cards, insurance, and other areas. (Disclosure: CNBC has a content-sharing partnership with Bankrate.)

Nuance Communications - Investor Carl Icahn has upped his stake to 10.72 percent from 9.27 percent, according to a U.S. Securities and Exchange Commission filing.

Costco Wholesale - The warehouse retailer raised its quarterly dividend to $0.31 per share from the prior $0.275 a share, payable May 31 to shareholders of record on May 17.

BMC Software - Reuters reports that a private-equity group led by Bain Capital and Golden Gate Capital is in the lead to buy the software provider for more than $6.5 billion, or $45 to $50 per share.

Amgen - The biotech firm's stock has been added to the "Conviction Buy" list at Goldman Sachs, which says products in the pipeline will replace revenue lost from upcoming patent expirations.

(Read More: See CNBC's Market Insider Blog)

—By CNBC's Peter Schacknow

Questions? Comments? Email us at marketinsider@cnbc.com