Check out the companies making headlines before the bell. Disney – Shares rose 7.8% after the entertainment giant announced a 50% increase in its dividend and higher-than-expected fiscal first-quarter profit of $1.22 per share, compared to LSEG's consensus forecast of 99 cents. Raising the stock price was also Disney's positive guidance, as the company said it expects adjusted earnings to rise 20% to $4.60 per share in fiscal 2024. Ralph Lauren – Shares fell 5.3% after the apparel maker posted strong earnings and sales for its fiscal third quarter and said it ended the holiday shopping season with healthy inventory levels. Ralph Lauren reported earnings of $4.17 per share, excluding items, while analysts polled by FactSet expected earnings of $3.57 per share. Revenue for the period came in at $1.93 billion, while analysts had forecast $1.87 billion, according to Factset. Ally Financial – Shares rose 1.9% after Morgan Stanley upgraded the lender from equal weight to overweight, saying Ally is a good play on lower interest rates expected in the future. Mattel – Shares rose 2.6% after the Barbie toy maker on Wednesday reported fourth-quarter adjusted earnings of $0.29 per share, up from $0.18 a year earlier. However, Mattel's earnings and revenue of $1.62 billion for the period still fell short of consensus estimates, as analysts surveyed by LSEG called for earnings of 31 cents per share on revenue of $1.66 billion for the period. The company, which expects soft sales growth this year, also announced a $1 billion share buyback program. PayPal – Shares fell 9.4% after the online payments leader posted somewhat disappointing full-year and first-quarter guidance, even as fourth-quarter earnings and revenue beat expectations. PayPal forecasts that annualized earnings per share growth will slow to mid-single digits in the first quarter, compared to the LSEG consensus estimate of 8.7% growth. The company said on Jan. 30 that it will lay off about 2,500 employees, or 9% of its workforce. New York Community Bancorp – Shares were still down pre-market, losing about 4.7%. The stock fell dramatically on Tuesday after Moody's downgraded its long-term debt rating to junk status over concerns about risk management challenges, only extending the bank's selloff fueled by its quarterly loss and Jan. 31 dividend cut. NYCB was also affected. with a shareholder lawsuit on Wednesday, adding to the problems for the stock as the company tries to reassure investors. Arm Holdings – Shares of the chipmaker rose more than 28% after it reported a decline in earnings in its fiscal third quarter. Arm reported adjusted earnings of 29 cents per share on revenue of $824 million, higher than the profit of 25 cents on $761 million expected by analysts surveyed by LSEG. The company also issued fourth-quarter earnings and revenue estimates that were higher than what analysts expected. Apollo Global Management – Shares rose nearly 3% after the asset management company's fourth-quarter earnings beat expectations. The company earned an adjusted $1.91 per share, compared to the $1.73 analysts expected, according to FactSet's StreetAccount. The company reported inflows of $32 billion this quarter, bringing total assets under management to $651 billion. American Express – Shares fell 1.6% after Morgan Stanley downgraded it from overweight to equal weight. The bank says American Express's discount revenue has declined and believes the good news from earnings and dividend increases are now reflected in the price. Maersk – Shares fell nearly 13% after the Danish shipping giant pointed to “major uncertainty” in its 2024 earnings outlook due to Red Sea disruptions and an oversupply of shipping vessels, which hit the company's bottom line. Maersk also said it would suspend share buybacks. — CNBC's Jesse Pound, Tanaya Macheel, Lisa Kailai Han and Michelle Fox Theobald contributed reporting.