Check out the companies making headlines before the bell:
Twitter – Twitter matched Street forecasts with adjusted quarterly profit of 17 cents per share, while revenue topped forecasts. Twitter saw monthly average users come in below forecasts, but data licensing and ad revenue topped analyst expectations.
Merck – The drug maker reported adjusted quarterly profit of $1.06 per share, three cents above estimates, while revenue beat forecasts as well. Merck also raised its full year earnings outlook, making upbeat comments about areas such as oncology and animal health.
Colgate-Palmolive – The consumer products maker matched estimates with adjusted quarterly profit of 77 cents per share, but revenue came in below Street forecasts. The company also said it expected a low single-digit increase in sales for the full year, and noted a negative impact from currency exchange rates.
Amazon.com – Amazon reported quarterly profit of $5.07 per share, more than double the $2.50 consensus estimate, although revenue did come in below Street forecasts. Profit topped $2 billion for the first time as Amazon sees increasing benefits from its cloud and advertising businesses.
Starbucks – Starbucks earned an adjusted 62 cents per share for its latest quarter, one cent above estimates, with the coffee chain’s revenue also topping forecasts. Starbucks did lower its full year comparable store growth forecast slightly.
Boston Beer – Boston Beer fell well short of consensus with quarterly earnings of $1.98 per share. Analysts had been forecasting profit of $2.81 per share, although the beer brewer’s revenue was slightly above Street forecasts. Boston Beer also gave a lower than expected full year forecast on rising expenses.
Chipotle Mexican Grill – Chipotle came in 7 cents a share above estimates, with adjusted quarterly profit of $2.87 per share, with the restaurant chain’s revenue above forecasts as well. Comparable restaurant sales were up 3.3 percent, beating the consensus estimate of a 2.7 percent gain, and Chipotle also raised its comparable sales forecast for the remainder of the year. Chipotle is benefiting from both more locations and higher menu prices.
Expedia – Expedia reported adjusted quarterly profit of $1.38 per share, well above the 89 cent consensus estimate, as gross bookings rose by 13 percent. The travel website operator’s revenue was in line with estimates.
Electronic Arts – Electronic Arts earned an adjusted 13 cents per share for its latest quarter, compared to the six cent consensus estimate, and the video game publisher’s revenue topped Street forecasts as well. However, the company also gave lower than expected full year guidance.
Amgen – Amgen beat Street estimates by 29 cents with adjusted quarterly profit of $3.83 per share, while the biotech giant’s revenue was also above consensus. Amgen also raised its full year guidance, as newer drugs continue to see sales growth.
Intel – Intel reported adjusted quarterly profit of $1.04 per share, beating forecasts by eight cents, and the chip maker’s revenue was also above estimates. However, the shares are being pressured after the company saw its results for its data center business fall below Street projections.
Papa John’s – Papa John’s founder John Schnatter is suing the company for not producing documents related to his recent ouster. Schnatter also told Reuters in an interview that new CEO Steve Ritchie is not the right person to lead Papa John’s.
BP – BP struck a deal to buy U.S. shale oil and gas assets from BHP Billiton for $10.5 billion. BP also announced its first quarterly dividend increase in five years as well as a $6 billion share buyback.
Fiat Chrysler – Fiat Chrysler said it was unaware of former CEO Sergio Marchionne’s medical condition before he passed away earlier this week. A spokesman for the automaker said it had no knowledge about the facts surrounding Marchionne’s condition due to medical privacy laws.
Moody’s – The credit rating agency earned an adjusted $2.04 per share for the second quarter, compared to consensus estimates of $1.89. Revenue also beat forecasts, helped by increased bank loan activity.