Early Movers: AOL, WEN, CTSH & More

Market Insider | What's Shaking | Earnings to Watch | Before the Bell

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

AOL – AOL reported first-quarter earnings of $0.32 per share, one cent below estimates. However, revenue was above consensus, thanks to an increase in display advertising sales.

Wendy's – The restaurant chain earned $0.03 per share for its latest quarter, excluding certain items, matching Street estimates. Revenue was below consensus, however, as same-store sales growth came in below forecasts.

Cognizant Technology - The tech services provider earned $1.02 per share for the first quarter, excluding certain items, nine cents a share above estimates, with revenue also coming in above forecasts. The company's results were helped by a 23 percent gain in European sales.

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

Walt Disney – Disney reported fiscal second-quarter profit of $0.79 per share, two cents a share above estimates, with revenue also slightly exceeding forecasts. The results were helped by stronger performances by the parks and resorts unit, and the movie studio division.

J.C. Penney – Penney is forecasting a 16.6 percent drop in same-store first quarter sales compared to a year ago, and revenues that are somewhat shy of analyst estimates. However, the beleaguered retailer did report cash levels that were higher than analysts had thought, and the Street does expect sales to improve later this year as Penney tries to turn its fortunes around after bringing back ex-CEO Myron Ullman.

(Read More: JC Penney Cites Ousted CEO's Plans in Sales Miss)

Mondelez International – Mondelez reported first-quarter profit of $0.34 per share, one cent a share above estimates, with revenue also slightly above consensus. The snacks maker also raised its full-year forecast due to a tax benefit.

Electronic Arts – EA earned $0.55 per share, excluding certain items, for its fourth quarter. That was two cents a share below Street estimates, although the videogame maker did see revenue slightly above consensus. First-quarter revenue is forecast at $450 million, well below Street estimates of $532 million, but EA is expecting improved fortunes later this year, especially during the holiday shopping season.

(Read More: EA and Disney in Multi-Year Star Wars Games Deal)

Whole Foods Market – Whole Foods earned $0.76 per share for its second quarter, three cents a share above estimates, with the natural foods grocery chain also announcing a two-for-one stock split. Same-store sales for the quarter jumped 6.9 percent, and are already up 9.4 percent for the current quarter.

Zillow - Zillow lost $0.11 per share for the first quarter, wider than the $0.03 per share loss expected by analysts. The real estate website operator reported revenue of $39 million, above estimates of $37 million, and it also raised its full-year outlook because of a jump in subscriptions.

TripAdvisor – The travel website reported first-quarter profit of $0.50 per share, excluding certain items, four cents a share above estimates, with revenue also above consensus.

Symantec – Symantec beat estimates by six cents a share for its fourth quarter with profits of $0.44 per share, and revenue also above forecasts. The maker of anti-virus software forecast current-quarter results well below analysts' estimates, however, citing a weak Japanese yen.

Herbalife - Investor Carl Icahn has increased his stake in Herbalife to 16.5 percent from 15.9 percent.

Toyota Motor – The automaker reported a quarterly profit of about $3.2 billion, more than double from a year earlier, thanks to cost cuts, improved sales, and a weaker Japanese yen.

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

—By CNBC's Peter Schacknow

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