Check out the companies making headlines before the bell:
Amazon — The e-commerce giant reported earnings per share that easily beat analysts’ expectations. The company’s quarterly revenue came in just above expectations; however, growth slowed to its lowest level since the first quarter of 2015.
Ford Motor — Ford shares jumped more than 7% in the premarket on the back of better-than-expected first-quarter results. The automaker posted earnings per share of 44 cents on revenue of $37.24 billion. Analysts polled by Refinitiv expected a profit of 27 cents per share on sales of $37.08 billion. Ford’s results were boosted by strong demand for its pickup trucks and SUVs in North America.
Qorvo — The Apple supplier’s stock was downgraded to “sector weight” from “overweight” at KeyBanc Capital Markets, with an analyst noting: “Our recent supply chain checks indicated that the situation has changed and that AVGO is likely to regain 100% market share of the mid/high-band PAD in the 2019 iPhone.”
Intel — The Dow component reported better-than-expected earnings for the first quarter, but those numbers were overshadowed by a weak revenue forecast for 2019. Intel said it expect sales to total $69 billion for 2019, below an estimate of $71.05 billion. Intel shares fell more than 7% before the bell.
Mattel — The toymaker’s stock jumped 9% in the premarket, boosted by the company’s better-than-expected results for the previous quarter. Mattel reported a loss of 44 cents a share on revenue of $689 million. Analysts polled by Refinitiv expected a loss of 56 cents a share on revenue of $645 million. The company said demand for its Barbie dolls, along with toys based on movies like and “Toy Story” boosted the Mattel’s results.
Western Digital — Baird downgraded the chipmaker’s shares to “underperform” amid concerns over an increasing “disconnect between significant stock appreciation YTD and a continued deterioration in NAND flash fundamentals.” The firm also cut its price target on Western Digital to $40 a share from $50 a share.
Starbucks — Starbucks posted quarterly earnings that topped analysts’ expectations and hiked its full-year outlook. The company highlighted strong sales in China and the U.S. But Starbucks shares dipped 0.4% as its quarterly revenue numbers disappointed analysts.
American Airlines — The airline reported mixed quarterly results, with its earnings per share topping estimates while revenue missed. American Airlines also said it took a $350 million pretax hit due to the grounding of Boeing’s 737 Max jet. The company also hiked its fuel cost guidance for the year, citing higher oil prices.
FedEx — An analyst at UBS downgraded FedEx to “sell” from “neutral,” citing worries that the company’s challenges in its Ground & Express businesses “may last longer” than expected.
—CNBC’s Vincent Caruso contributed to this report.