Early Movers: WAG, RIM, ASCA & More
Check out which companies are making headlines before the bell on Friday:
Walgreen - The drugstore chain reported fiscal first-quarter profit of $0.58 per share, excluding certain items, well below estimates of $0.70. Revenue also was slightly short of estimates. Walgreen said non-operational factors weighed on results, but the underlying business remains strong.
Research In Motion - RIM reported a third-quarter loss of $0.22 per share, smaller than the expected loss of $0.35, with revenue essentially in line with estimates. However, the stock is under pressure after the BlackBerry maker reported a drop in subscriber rolls for the first time in its history. It also worried investors during a conference call in saying it plans to alter its service revenue model. CEO Thorsten Heins told CNBC that worries about falling service revenue during the transition to BlackBerry 10 are unfounded.
General Electric - GE has purchased the aviation business from Italy's Avio for $4.3 billion to increase its participation in the jet propulsion market.
Red Hat - Red Hat reported third-quarter profit of $0.29 per share, in line with estimates, with revenue exceeding estimates. The provider of Linux software saw strong growth in its subscription business.
Nike - Nike earned $1.14 per share for its second quarter, 14 cents above estimates, with revenue in line with estimates. Gross margins fell for the eighth straight quarter, but that streak could end soon based on the athletic footwear and apparel maker's current financial projections.
Micron Technology - Micron lost $0.27 per share in the fiscal first quarter, seven cents wider than analysts had anticipated. Revenue also came in below consensus, as the chipmaker suffered the effects of slowing personal computer sales and overall economic uncertainty.
SanDisk - The company has expanded its stock repurchase program by an additional $750 million, bringing the flash memory chip maker's total current buyback program to $1.25 billion.
Big Lots - Citi has begun coverage of the discount retailer with a "buy" rating
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Peter Schacknow
Questions? Comments? Email us at firstname.lastname@example.org