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Stocks to watch: KO, GMCR, JNJ, INTC, GE, GOOGL

Hot Stock Minute

Here are some stocks the Yahoo Finance team will be watching for you today.

Coca-Cola (KO) reported first quarter results this morning that were in-line with Wall Street estimates. Earnings per share came in at $0.44, while revenue declined but met analysts' expectations. Coke has been aggressively developing new products to counter fizzling soda sales. Earlier this year, the company signed a much buzzed-about deal with Keurig Green Mountain (GMCR) to develop a new line of Coke products with Keurig.

Johnson & Johnson (JNJ) also reported this morning and the company beat Wall Street estimates. Earnings came in $0.06 ahead of estimates. Revenue rose 3.5% year-over-year to just in about in-line with expectations. For the year, Johnson and Johnson raised its earnings estimate to between $5.80 and $5.90, above its previous forecast.

Watch shares of fellow Dow component Intel (INTC) expected to report earnings after the close today. Wall Street expects Intel to report earnings of $0.37 a share on a slight uptick in revenue.

The Wall Street Journal reported that General Electric (GE) Chairman and CEO Jeff Immelt may give up his leadership role sooner than expected. According to the Journal, Immelt and GE's board have held discussions about shortening the expected tenure of the next chief executive to 10-15 years from the current GE standard of 20 years. Immelt took the helm of GE in September of 2001. 

And we're watching Google (GOOGL) after the company announced a deal to buy drone maker Titan Aerospace. The New Mexico-based Titan designs solar-powered drones that could potentially fly for years. Google did not say how much it will pay for the company, but it did say Titan will work with Google's Project Loon which is building balloons to beam the Internet to remote locations that aren't wired. Titan had been in talks to be acquired by Facebook (FB), but The Wall Street Journal reported Google offered to top any Facebook bid.