Early movers: GE, CVS, AAPL, STI, COL, SLB, SBUX, AXP & more

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Check out which companies are making headlines before the bell:

General Electric — The company reported adjusted quarterly profit of 52 cents per share, 3 cents above estimates, but revenue came in short of forecasts due to a strong dollar and some shipments in power and renewables pushed into 2016 from 2015.

CVS Health, Walgreens Boots Alliance — Baird began coverage on both drug store operators with “outperform” ratings. It cited a broad, flexible platform and crisp execution for its opinion on CVS, while noting the synergies Walgreens will achieve from its purchase of Rite Aid and last year’s combination between Walgreens and Alliance Boots.

Apple — Piper Jaffray is recommending investors buy Apple ahead of next week’s quarterly earnings report, saying the stock could jump 50 percent by the time of the presumed iPhone 7 launch in September.

SunTrust — The regional bank beat estimates by 4 cents with adjusted quarterly profit of 91 cents per share, with revenue also beating forecasts. Those upbeat results came in spite of a decline in wealth management revenue.

Rockwell Collins — The aviation electronics maker reported quarterly profit of $1.02 per share, beating estimates by 2 cents. Revenue was short, but Rockwell also raised its full-year outlook, predicting a recovery in government systems sales after a slow start to the fiscal year.

Starbucks — The coffee chain’s shares are under pressure on a softer-than-expected current quarter outlook. Starbucks did beat estimates by 1 cent with quarterly profit of 46 cents per share, with its revenue roughly in line.

American Express — American Express reported quarterly earnings of $1.23 per share, 11 cents above estimates, with revenue slightly above forecasts. The credit card issuer did say – as many other companies have – the a stronger dollar impacted its overall results. Amex also announced plans to cut $1 billion in costs by the end of 2017.

Schlumberger — Schlumberger beat Street forecasts by 2 cents with adjusted quarterly earnings of 65 cents per share, with the oilfield services company’s revenue essentially in line with forecasts. Schlumberger was helped by cost cuts that helped it deal with slumping oil prices. The company also announced a $10 billion stock buyback program.

Boeing — The jet maker will cut production of its 747-8 models in half later this year, as it deals with a declining air freight market. Boeing will cut its production rate to six per year in September.

JPMorgan Chase — Chief Executive Officer Jamie Dimon earned $27 million in 2015, up 35 percent from a year earlier.

Intuitive Surgical — The company earned an adjusted $5.89 per share for its latest quarter, beating consensus estimates of $5.04, with revenue in line. The maker of surgical instruments saw higher profit margins and increased use of its da Vinci robotic surgical systems.

Philips Electronics — Philips saw a $3.3 billion sale of its lighting business fail due to national security objections by the United States. Philips did not disclose exactly what those objections were.

Wal-Mart Stores — Wal-Mart unlawfully retaliated against workers who struck the retail giant in 2013, according to a ruling from a National Labor Relations Board judge. The judge ruled that Wal-Mart must offer to reinstate the 16 fired employees.

Johnson & Johnson — J&J has halted trials of a depression drug that falls in the same class as one made by Portuguese drug company Bial. Testing of the Bial drug in France left one patient brain dead and five others hospitalized. J&J plans to evaluate its next move regarding its drug when it gathers more information.

[“source -cncb”]