Check out which companies are making headlines before the bell on Friday:
JPMorgan Chase — The bank earned $1.60 per share for the second quarter, 16 cents above estimates, with revenues also beating consensus. Chairman and CEO Jamie Dimon will talk about the quarter during a "Squawk On The Street" interview later this morning.
Spreadtrum Communications —The chip designer is being acquired by China's Tsinghua for $1.78 billion or $31 per share, a 17 percent premium to Spreadtrum's Thursday close.
Gap — The clothing retailer reported a 7 percent increase in June same-store sales, better than the 4.7 percent estimated by analyst. Gap's results were led by a 13 percent sales jump at its Old Navy chain.
WebMD — The medical web site operator raised its revenue forecast for 2013 and now expects to report a 2013 profit, based on increased demand for advertising and sponsorship services.
Valero Energy — Valero expects second quarter profit of 91 cents to $1.01 per share, excluding certain items, below the $1.27 consensus analyst estimate. The refiner cites several factors, including fewer discounts for heavy sour crude oil, and higher natural gas costs.
RadioShack —The electronics retailer issued a statement after the close saying it has a strong balance sheet, and that it has met with investment banks, as many companies do, to look for ways to improve it. The retailer also said that this has been the sole focus of such discussions. The shares had plummeted yesterday on a report saying it might hire a financial adviser to help improve its liquidity.
Dell — Investor Carl Icahn may present an improved offer for the computer maker today, based on comments made in a Bloomberg interview late yesterday. Dell's special committee is dismissing Icahn's call for shareholders to seek an appraisal for their holdings.
H&R Block —H&R Block is selling the assets of its H&R Block Bank to Republic Bank & Trust. Terms were not disclosed, but the tax preparation company did say that it will take charges of three to four cents per share related to the sale, and that annual net income will be trimmed by six to nine cents per share.
Best Buy — The electronics retailer is holding a two-day iPad trade-in sale beginning today. Customers can trade in an iPad 2 or third-generation iPad and receive a $200 Best Buy gift card. Best Buy had held a similar iPhone trade-in event last month and said it had an "overwhelming response".
Hormel —BMO Capital Markets upgraded the food producer's stock to "outperform" from "market perform", citing improved turkey product profit margins and new product innovations, among other factors.
Target —Deutsche Bank downgraded the retailer's shares to "hold" from "buy", saying the stock is appropriately valued after a 23 percent rise so far this year.
Xilinx —Citi upgraded the chipmaker's stock to "buy" from "neutral".
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Peter Schacknow
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