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Walgreens earnings miss; Vertex shares surge; Apple's Bigger iPhones in the works

Hot Stock Minute

Here is a look at some of the stocks the Yahoo Finance team will be watching for you today.

Walgreen (WAG) shares fell in early trading. The drugstore chain reported earnings of $0.91 a share missing analysts' estimates by three pennies. Revenue rose nearly 6% to $19.4 billion from a year ago, but still came up short of expectations as customer traffic fell slightly and margins came under pressure.

Shares of Vertex Pharmaceuticals (VRTX) soared in the pre-market after the company said a combination of two of its drugs had improved the lung function of people with cystic fibrosis in clinical trials. The combination could help nearly half of those with the disease. Vertex said it would seek approval in the U.S. and Europe for the drug combination.

Micron Technology (MU) shares zig-zagged in early trading. The memory chip maker reported profits and revenue that topped analysts' estimates as strong demand for personal computers helped drive demand for its DRAM chips. The company also issued a strong outlook for its current quarter.

Avon Products (AVP) rose in the pre-market. The cosmetics maker said it would cut about 600 jobs in an effort to return the company to profitability. The workforce reduction will be mostly from its corporate organization and North America business. The moves will result in as much as $50 million in pretax charges. This comes as the company posted losses in five of the past six quarters

Shares of Syngenta (SYT) are down in the pre-market. Bloomberg reported that Monsanto (MON) recently held preliminary talks with its Swiss rival for a potential $40 billion takeover, but Syngenta decided not to proceed with the negotiations. The deal would have allowed Monsanto to shift its corporate tax base to Switzerland. 

Apple (AAPL) shares in focus after Bloomberg reported that the company will begin production on two larger versions of the iPhone next month. The 4.7-inch and 5.5-inch versions could both be released in September. The screens are larger than Apple's most recent iPhones, and brings it closer to models made by rivals like Samsung. 

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