Check out which companies are making headlines before the bell:
Salix Pharmaceuticals – Shire is working with advisers on a potential offer for Salix, according to Reuters. That comes a day after a report that Salix was working with PE firm Centerview to explore its options.
Gap, Abercrombie & Fitch – Credit Suisse has downgraded both stocks to "underperform" from "neutral," citing U.S. deflationary pressure in the apparel market as well as the negative impact of a stronger dollar.
VF – The North Face and Vans parent matched estimates on both the top and bottom lines, but it is also warning about negative effects from currency fluctuations during 2015.
ITT – ITT beat estimates by two cents with adjusted quarterly profit of 59 cents per share, with revenue also above estimates. The diversified manufacturer also raised its quarterly dividend by 7.5 percent to 11.83 cents per share from 11 cents.
Interpublic Group – The advertising company earned an adjusted 73 cents per share for its latest quarter, beating estimates of 58 cents. Revenue was also above estimates, and the company announced a 26 percent dividend hike and an additional $300 million stock buyback.
DTE Energy – The energy provider earned an adjusted $1.17 per share for its latest quarter, 12 cents above estimates. Revenue was also above consensus as DTE saw growth in its non-utility businesses.
Kraft Foods – Kraft reported adjusted quarterly profit of 75 cents per share, beating estimates by two cents. Revenue was also above forecasts, reflecting firmer pricing. Separately, Kraft announced an executive shakeup, with Chief Financial Officer Teri List-Stoll, chief marketing officer Deanie Elsner, and Executive Vice President Chuck Davis all leaving the company.
ConAgra Foods – ConAgra cut its full-year profit forecast due to weaker sales and a stronger dollar. The company also named Sean Connolly as its chief executive officer, replacing the retiring Gary Rodkin. Connolly was CEO of Hillshire Brands prior to its sale to Tyson Foods last year.
Nike – Chief Financial Officer Donald Blair is retiring in October, to be replaced by senior vice president of finance Andrew Campion.
Campbell Soup – Campbell lowered its 2015 earnings outlook, partly due to the negative effects of the stronger U.S. dollar.
AIG – AIG earned an adjusted 97 cents per share for its latest quarter, missing estimates by eight cents. The insurance company cited the effects of lower interest rates and the costs of refinancing its debt.
CBS – CBS beat estimates by one cent with adjusted quarterly profit of 77 cents per share, with revenue essentially in line. CBS saw results helped by the addition of Thursday night football broadcasts, as well as the midterm elections, which boosted ad sales.
Groupon – Groupon reported adjusted quarterly profit of six cents per share, doubling expectations, but its current quarter forecast falls largely short of Street consensus as sales and profit growth continue to slow for the daily deals company.
King Digital – King bested estimates by ten cents with adjusted quarterly profit of 57 cents per share, while revenue was also well above expectations. The results were helped by growing popularity for newer games, with a larger than expected number of active users during the quarter. The maker of mobile games also announced a 94 cent per share special dividend and a $150 million stock buyback.
Zynga – Zynga broke even on an adjusted basis for its latest quarter, matching expectations, but investors are focusing on disappointing over lower than expected bookings. The creator of "Farmville" did not see as much engagement as it had thought for new offerings like "New Words With Friends", and it's forecasting an unexpected loss for the current quarter.
Ariad Pharmaceuticals – Ariad is under pressure to replace its CEO, according to CNBC's Meg Tirrell. Activist hedge fund Sarissa Capital may begin a proxy fight to replace Harvey Berger, after gaining a seat on the drug maker's board a year ago.
Micron Technology, Seagate Technology – The two tech companies struck a partnership to jointly develop flash-based storage.
Hormel – Hormel is nearing a deal to buy privately held organic food producer Applegate Farms, according to Reuters, in a deal that could be worth up to $1 billion.
Yahoo – Yahoo is cutting between 100-200 jobs in Canada, according to a source quoted by Reuters.