Early Movers: DRI, ANF, GM & More
Check out which companies are making headlines before the bell on Friday:
Darden - The parent company of Olive Garden and Red Lobster said it expects to see third-quarter earnings of between $1 a share and $1.02 a share, against current Wall Street expectations for $1.12 a share, citing increased payroll taxes and rising gasoline prices.
Abercrombie & Fitch - The apparel retailer posted earnings of $2.21 a share, easily topping expectations by 25 cents a share, while revenue fell slightly short of estimates. Meanwhile, the firm handed in full-year 2013 earnings guidance that missed expectations. In addition, the company increased its quarterly dividend to 20 cents a share from 17.5 cents a share.
General Motors - The U.S. automaker said it would invest nearly $7.3 billion in its South Korean unit over the next five years, in an effort to increase its presence in the country.
(Read More: Sign of a Comeback: US Carmakers Are Hiring)
Boeing - The airplane maker's executives said they are laying out plans to get its troubled 787 Dreamliner back in the air, including proposals to prevent the lithium-ion batteries from overheating.
Citigroup - The banking giant said it has overhauled an executive compensation plan that shareholders rejected last year, adding that it will pay its new CEO Mike Corbat $11.5 million for his work 2012.
Hewlett-Packard - The computer hardware giant easily topped Wall Street expectations and handed in current-quarter and full-year earnings guidance that topped forecasts. At least three brokerages lifted their price target on the company.
Comcast - Macquarie downgraded its rating on the cable operator to "neutral." Comcast is the parent company of NBCUniversal, the owner of CNBC and CNBC.com. Meanwhile, the brokerage upgraded its recommendation on Time Warner Cable to "outperform."
ExxonMobil - Canaccord Genuity initiated coverage of the oil giant with a "hold" rating with a price target of $95 a share.
Caterpillar - Raymond James upgraded the heavy equipment maker to "outperform" from "market perform" with a price target of $105 a share.
Home Depot - Oppenheimer upgraded the home improvement retailer to "outperform" from "perform" and lifted its target price to $76 from $67.
Blackberry - MKM Partners cut its rating on the smartphone maker to "sell" from "neutral" and lowered its price target to $10 from $12, citing lowered probability of success for the BlackBerry 10.