Take a look at some of Wednesday's morning movers:

Big Lots - The retailer reported first-quarter profit of $0.68 per share, excluding certain items, one cent shy of estimates. It also cut its full year forecast to $3.25 to $3.40 per share, versus the prior forecast of $3.63 to $3.73, citing a same-store sales decline.

Hormel Foods - Hormel reported fiscal second-quarter profit of $0.48 per share, six cents above estimates, with both sales and profits at record highs. The quarter’s performance was driven by higher profit margins and lower overhead costs.

Toll Brothers - The largest U.S. builder of luxury homes reported a second-quarter profit of $0.10 per share, above analyst estimates of $0.03. Toll saw a 14 percent jump in home deliveries, seen as a sign of a housing market recovery.

American Eagle - The teen retailer reported quarterly profit if $0.22 per share, excluding certain items, two cents above estimates. Its current quarter guidance is also above consensus.

Starbucks - Bank of America/Merrill Lynch is upgrading the stock to "buy" from "hold," saying the coffee chain is well-positioned for strong earnings growth in the years ahead.

Applied Materials - Goldman Sachs has upgraded the semiconductor equipment maker's shares to "neutral" from "sell," though the firm continues to be cautious on order levels for the second half of 2012.

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