Early movers: ADBE, WYNN, OPEN, MSFT, BIIB & more
Check out which companies are making headlines before the bell on Friday:
Union Pacific – Union Pacific is forecasting third quarter profit of $2.45 - $2.48 per share, short of the $2.56 consensus estimate. The railroad operator points to the uncertain economy as well as mild weather that hurt coal volumes.
Potbelly – Potbelly begins trading today on Nasdaq after pricing its IPO at $14 per share, above the expected range of $12 - $13. The restaurant chain raised a total of $105 million with its share sale.
Wynn Resorts – Credit Suisse is downgrading the hotel and casino operators shares to "neutral" from "outperform" on a valuation basis. The firm said positive growth trends are already accounted for in the stock's price.
OpenTable – Piper Jaffray upgraded the online reservation service's stock to "overweight" from "neutral". The firm said new initiatives to concentrate on consumer marketing and mobile growth will help drive the company's results.
Biogen Idec– The drug maker reported favorable data from an ongoing study of a new multiple sclerosis treatment.
Microsoft- CEO Steve Ballmer was awarded a $550,000 bonus for the latest fiscal year, an amount equal to 79 percent of the targeted amount. In making the award, the company's board pointed to diminishing Windows-related profits and tepid sales for the Surface tablet.
Forest Oil –The energy producer is selling assets located in the Texas Panhandle to privately held Templar Energy for $1 billion. The company will use the proceeds to pare down its debt.
Carnival Corporation – Suntrust Robinson Humphrey began coverage of the cruise line operator's stock with a "reduce" rating. Analyst Patrick Scholes also began coverage of Royal Caribbean with a "neutral" rating, and Norwegian Cruise Line with a "buy". Suntrust gave the most favorable rating to Norwegian because it sees that line as having more pricing power than its rivals.
Pfizer –The FDA approved a new Pfizer treatment for hot flashes and osteoporosis in post-menopausal women.
Archer Daniels Midland – Illinois Governor Pat Quinn said he would veto any bill that provides ADM with tax breaks in return for the company keeping its global headquarters in Illinois.
—By CNBC's Peter Schacknow
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