Check out which companies are making headlines before the bell Friday:
KKR - The private equity firm is set to gain preferential negotiating rights for a majority stake in Panasonic's healthcare unit, according to sources familiar with the matter, which would be a $1.5 billion deal. It would mark the U.S. firm's largest investment in a Japanese company.
Timken - The company's board approved plans to split the firm's steel business from its bearings and power transmission businesses into two publicly companies. In addition, KeyBanc raised its target price on the company to $70 from $66.