Check out which companies are making headlines before the bell:
Cardinal Health—Cardinal is buying privately held generic drug distributor Harvard Drug Group for $1.115 billion in cash. Cardinal said the deal should add more than 15 cents to its non-GAAP earnings per share for fiscal 2016, more than 20 cents in fiscal 2017, and increasing amounts thereafter.
Palo Alto Networks, FireEye, Fortinet—Cybersecurity stocks are likely to gain today following news of the massive cyber attack that compromised the information of about four million federal employees.
Under Armour—D.A. Davidson upgraded the athletic apparel maker's stock to "buy" from "neutral," noting its earnings growth, recent pullback, and the potential of upward revision of earnings guidance.
Cablevision—Telsey Advisory Group downgraded Cablevision to "market perform" from "outperform." Telsey notes that Cablevision shares have jumped 20 percent in recent weeks on takeover speculation, but the firm sees a deal as unlikely.
Denny's—Wedbush upgraded the restaurant chain's shares to "outperform" from "neutral," and added the stock to its "best ideas" list. Wedbush pointed to both short- and long- term drivers to same-store sales, and the potential for a Street increase to earnings forecasts.
Gap—The apparel retailer reported a 1-percent drop in May same-store sales. That performance, however, was better than the 2.4-percent drop analysts had been predicting. Sales are still dropping at Gap and Banana Republic stores, although the company's Old Navy brand is seeing sales increase more than expected.
Diamond Foods—Diamond earned an adjusted 23 cents for its latest quarter, 8 cents above estimates, despite revenue falling short of forecasts. The maker of Pop Secret popcorn and other snacks also raised its full-year earnings guidance.
Zumiez—Zumiez reported adjusted quarterly profit of 12 cents per share, matching estimates, with revenue also in line, but the action sports retailer also forecast current-quarter profits that fall below analyst estimates. It also sees same-store sales falling 3 to 5 percent.
Verifone Systems—Verifone beat estimates by 2 cents with adjusted quarterly profit of 44 cents per share, with revenue slightly above forecasts. But the maker of electronic payment systems also gave a current quarter forecast for revenue and profit that falls below Street forecasts. Overall, Verifone has been helped by a shift to chip-enabled payment cards with particularly strong revenue growth in North America.
Noodles & Co.—The restaurant chain announced a $35 million share repurchase program.
Monsanto—The chemical maker is working to address concerns expressed by Syngenta about a possible Monsanto takeover, according to a Reuters report. The report said Monsanto is expected to increase its bid by 10 percent.
Wal-Mart—Wal-Mart will hold its widely watched annual shareholders meeting today in Arkansas. The retailer's head of U.S. operations, Greg Foran, told reporters ahead of the meeting that the company is prioritizing the reduction of theft from its stores.
Costco—Costco has been subpoenaed by the federal government concerning its prescriptions for controlled substances. The U.S. Attorney's office has said it believes the company has violated several civil regulations in its handling of controlled substances. The warehouse retailer said it is cooperating.
Southwest Airlines—The airline extended its 72-hour fare sale after website troubles left many customers unable to book flights.