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Adam Jeffery | CNBC

Check out which companies are making headlines before the bell:

Biogen's stock was under pressure ahead of the bell after the company's first-quarter sales of Tecfidera, an oral multiple sclerosis drug, came in at $824.90 million, below consensus estimates, according to Reuters.

Xerox shares fell more than 3 percent after the company posted quarterly earnings and revenue that missed analysts' expectations. The company also cut its full-year forecast amid a strong U.S. dollar.

AstraZeneca shares fell more than 3 percent in premarket trading after the company reported that sales fell by 6 percent in the first quarter, citing a rising dollar and competition from Nexium generics, according to Reuters.

American Airlines posted first-quarter profits that topped Wall Street's expectations. Diluted earnings per share for the airline came in at $1.73, while analysts expected $1.71. Nevertheless, the company also reported a 1.7 percent year-over-year drop in revenue, citing a strong dollar and competitive capacity growth, according to Reuters.

Amazon's stock soared more than 10 percent ahead of the bell as investors continued digesting Wednesday's news that its Web services sector generated revenue of $1.57 billion last quarter.

Microsoft shares rose more than 3 percent in premarket trading as investors kept cheering the company's latest quarterly earnings report.

Google shares rose more than 3 percent in premarket trading despite having reported first-quarter earnings and revenue that fell short of Wall Street's expectations. The company posted earnings per share of $6.57 and revenue of $17.26 billion, with analysts expecting $6.60 earnings per share and $17.50 billion in revenue.

Starbucks rose more than 4 percent before the bell as the company carried over momentum from Thursday's quarterly earnings report. The coffee giant posted second-quarter earnings per share of 33 cents, in line with expectations, and revenue of $4.56 billion, above Wall Street's estimates. Global same-store sales also rose 7 percent.

Goldman Sachs reiterated its "buy" rating on Cisco Systems and added the stock to its Conviction list, citing upside to fiscal-year 2016 "from an emerging product cycle in campus switching and enterprise WLAN, driven by the move to 802.11ac Wave 2, which requires an upgrade to multi-gigabit switching speeds."

J.P. Morgan downgraded Best Buy's stock from "overweight" to "neutral" citing a "slow start" to this year's sales and a growing dependency on "the topline/gross profit dollar expansion."

Comcast could drop its bid for Time Warner Cable as soon as Friday, a source told CNBC.

(DISCLOSURE: Comcast is the parent company of NBCUniversal and CNBC.)

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