Early movers: DD, PG, TYC, JNJ, AIG, MMM, COH, LULU, SWFT & more

Traders work on the floor of the New York Stock Exchange in New York City.

Check out which companies are making headlines before the bell:

DuPont — The chemical giant reported adjusted quarterly profit of 27 cents per share, 1 cent above estimates, but revenue came in on the light side due in part to the impact of a strong dollar. DuPont is in the process of merging with Dow Chemical, a deal the companies expect to complete in the second half of this year.

Procter & Gamble — The consumer products giant earned an adjusted $1.04 per share for its latest quarter, 6 cents above estimates, with revenue essentially in line. P&G also gave 2016 revenue guidance that exceeds analyst forecasts.

AIG — The insurer announced a series of strategic actions, including divestiture or sale of several units, an IPO of its United Guaranty business, and a return of $25 billion to shareholders over the next two years. However, it said a full breakup of the company would detract from shareholder value. Investor Carl Icahn had called for a breakup when he took a stake in AIG late last year.

3M — The conglomerate earned $1.66 per share for its latest quarter, 3 cents above estimates, while revenue also beat forecasts. 3M said its recent restructuring moves have made its operation more efficient and positioned it for long-term success.

Coach — The luxury goods maker beat estimates by 2 cents with adjusted quarterly profit of 68 cents per share, while revenue matched estimates. Coach saw sales rise for the first time in 10 quarters.

Johnson & Johnson — The medical device maker earned an adjusted $1.44 per share for its latest quarter, 2 cents above estimates, with revenue very slightly below analyst forecasts. Johnson & Johnson does see 2016 earnings above Street forecasts, even as its results continue to be impacted by the strong dollar.

Lululemon — Hedge fund Lone Pine took a 5 percent stake in the yoga wear maker.

Swift Transportation — Swift reported adjusted quarterly profit of 53 cents per share, beating estimates by 6 cents. The trucking company’s revenue was very slightly below forecasts, but Swift was able to benefit from higher freight rates and fewer accidents and insurance claims.

Tyco, Johnson Controls — Politicians from both parties are criticizing the merger deal between the companies announced Monday. The criticism is aimed at the so-called “inversion” aspect of the transaction, which will see Johnson Controls relocate its headquarters to Tyco’s Ireland home in a tax-saving move.

FirstMerit Corporation — FirstMerit is being bought by rival Ohio bankHuntington Bancshares for $3.4 billion in cash and stock. The deal is valued at $20.14 per share, a 31 percent premium over FirstMerit’s Monday closing price.

JPMorgan Chase — JPMorgan Chase resolved most of a Lehman Brothers-related lawsuit for $1.42 billion in cash. The bank had been accused of draining Lehman of money in the final days before Lehman’s September 2008 collapse.

Centene — Centene said it is missing six hard drives containing personal data of about 950,000 clients. However, the health insurer said the drives don’t contain financial or payment data and that it does not believe the information has been used in an inappropriate manner.

Rambus — Rambus reported adjusted quarterly profit of 18 cents per share, beating estimates by 10 cents, with revenue and the chip maker’s outlook also above forecasts. Rambus is benefiting from higher royalty payments and the renewal of a patent licensing agreement with Toshiba.

Staples — The office supplies retailer is replacing its North American stores chief Demos Parneros, who will depart Staples on March 31.
[“source -cncb”]