Check out the companies making headlines before the bell: GE Aerospace — The stock moved more than 4% higher after GE Aerospace reported adjusted earnings of $1.49 per share, topping the $1.27 per share anticipated by analysts polled by LSEG. Revenue, however, came in just shy of expectations. Hertz Global Holdings — Shares fell almost 2% after the rental car company rallied 112% last week on Bill Ackman’s big investment in the company. Pershing Square has taken a 19.8% stake in Hertz with outright share ownership and total return swaps. The stock fell 5% on Monday. Zions Bancorporation — Shares of the Utah-based bank sunk nearly 4% after Zions reported weaker-than-expected first-quarter results. Zions earned $1.13 per share, shy of the LSEG forecast of $1.18 per share. 3M — Shares of the manufacturing conglomerate rose nearly 6% after first-quarter results beat expectations. On an adjusted basis, 3M earned $1.88 per share on $5.78 billion of revenue. Analysts surveyed by Refinitiv had penciled in $1.77 in earnings per share and $5.76 billion in revenue. Amazon — Shares rose nearly 1% after Amazon delayed some commitments around new data center leases, particularly international ones, Wells Fargo said Monday. Amazon Web Services is one of the leading providers of cloud infrastructure. Calix — The technology services stock jumped 15% after Calix exceeded first-quarter earnings expectations and gave an upbeat forecast. Calix earned 19 cents per share, excluding items, on $220.2 million in revenue in the latest period, while analysts surveyed by FactSet anticipated 13 cents per share in earnings and $207.1 million in revenue. Medpace Holdings — Shares of the clinical research organization lost 8% after Medpace reported that its net new business awards in the first quarter came in at $500 million, reflecting a nearly 19% decline from the year-ago period. Verizon — Shares of the wireless network operator declined more than 4% after Verizon said it lost more postpaid net phone subscribers during the last quarter than expected. The company still beat forecasts for first-quarter earnings and revenue and said it remains confident in achieving its year-end goals. Its adjusted earnings of $1.19 per share beat the consensus estimate of $1.15 per share, while its revenue of $33.49 billion beat expectations of $33.24 billion, according to analysts polled by LSEG. Lockheed Martin — Shares of the defense contractor jumped more than 3% after Lockheed posted a strong first-quarter profit and reaffirmed its forecasts for the year, driven by resilient demand for its missile systems and fighter jets. Lockheed reported total revenue of $17.96 billion in the first quarter, up 4.5% from a year earlier. — CNBC’s Jesse Pound, Sarah Min and Michelle Fox contributed reporting.
GE Aerospace, Amazon and more
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