Stocks making the biggest moves premarket: American Express, Verizon, Kimberly-Clark and more

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Check out the companies making headlines before the bell:

American Express (AXP) – American Express rose 1.2% in the premarket after reporting better-than-expected profit and revenue for the first quarter. Amex reported a profit of $2.73 per share compared with the $2.44 consensus estimate, helped by increased spending by millennial and Gen-X consumers as well as small and medium-sized businesses.

Verizon (VZ) – Verizon earned an adjusted $1.35 per share for the first quarter, matching estimates, with revenue also essentially in line. Verizon lost 36,000 phone subscribers during the quarter, less than the 49,300 losses expected by analysts who were surveyed by FactSet. Verizon fell 1.4% in premarket trading.

Kimberly-Clark (KMB) – The consumer products company's shares jumped 3.8% in the premarket after reporting better-than-expected quarterly earnings and revenue. Kimberly-Clark said it was able to deal with a «volatile and inflationary» environment and raised its full-year organic sales forecast.

Cleveland-Cliffs (CLF) – The steel producer and mining company's stock rallied 3.5% in premarket trading after beating top and bottom-line estimates for the first quarter. Cleveland-Cliffs also raised its average selling price forecast for the full year.

Schlumberger (SLB) – The oilfield services producer beat estimates by a penny with an adjusted quarterly profit of 34 cents per share, and revenue also topped Wall Street forecasts. Schlumberger also raised its dividend by 40%, and its stock added 1.1% in premarket action.

Snap (SNAP) – Snap lost an adjusted 2 cents per share for its latest quarter, compared with consensus forecasts of a 1 cent per-share profit for the social media company. It also issued a