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FedEx delivers earnings beat; GM CEO to testify again on Capitol Hill; Adobe shares jump

Hot Stock Minute

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

General Motors (GM) CEO Mary Barra heads back to Capitol Hill to face questions from lawmakers on why the company waited more than a decade to recall cars with faulty ignition switches that are linked to at least 13 deaths. The former federal prosecutor who conducted a recent GM probe of the recall crisis, Anton Valukas, will also be testifying.

Shares of FedEx (FDX) rose in early trading. The package delivery company delivered earnings and revenue that beat estimates as it saw growth across all its segments. Profits more than doubled from a year ago. Earnings came in at $2.46 a share, $0.10 above analysts' estimates. Revenue also beat estimates, up 3.5% from a year earlier.

Better-than-expected earnings and revenue also drove shares of Adobe Systems (ADBE) higher before the bell. The maker of Photoshop and Acrobat software reported profits jumped 16% from a year ago thanks to strong sales of its subscription cloud services.

La-Z-Boy (LZB) shares fell in the pre-market. The furniture maker reported that its retail stores posted the first drop in same-store sales in 3-1/2 years because of the harsh winter weather. The company also said will shut down its plants for one week in the current quarter because the summer is a slow season for them. Earnings topped analysts' estimates by a penny, but revenue fell short of expectations.

We're watching Amazon (AMZN) ahead of an event today at 1 p.m. eastern, where it's expected to unveil a smartphone with software to track the user's eye movements and have 3-D imaging. The Wall Street Journal reported yesterday that AT&T (T) will be the exclusive wireless carrier for the phone.