Check out which companies are making headlines before the bell:
Norfolk Southern — The company's board of directors announced it unanimously rejected Canadian Pacific's takeover bid. "The Norfolk Southern board concluded that the indication of interest is grossly inadequate, creates substantial regulatory risks and uncertainties that are highly unlikely to be overcome, and is not in the best interest of the company and its shareholders," the company said in a release.
Big Lots — Shares of the Ohio-based retailer were slightly higher in the premarket despite posting a loss of 3 cents in the third quarter. Big Lots also said its same-store sales rose by 2.6 percent.
GoPro — R.W. Baird downgraded the camera maker's stock to "neutral" from "outperform." "We remain positive on the GoPro brand strength and several longer-term opportunities, but increasingly expect that to be overwhelmed by current weaker trends that appear increasingly likely to persist into Q1," Baird said.
Qualcomm — Pacific Crest initiated coverage of the chipmaker with an "overweight" rating and a price target of $64 a share, as the company expects Qualcomm to regain market share with the launch of the Samsung Galaxy S7 next year.
LinkedIn — Nomura initiated coverage of the social media company as a "buy," citing upgraded products and its dominance among online professional networks.
Dollar Tree — RBC Capital Markets upgraded the discount retailer' stock to "top pick" from "outperform," citing increasing confidence in "in synergy expectations and opportunities for core profitability improvements at Family Dollar, strengthening our conviction that the company has tremendous 'self help' capabilities and earnings power, with 20 percent to 25 percent growth expected in calendar year 2016 to 2017."
Avon — The cosmetics maker is in talks to sell its North American business to private equity firm Cerebrus, according to a Dow Jones report.
Gap — Gap shares fell over 5 percent in the premarket as investors digest the retailer's disappointing third-quarter earnings report. The company said its same-store sales dropped 8 percent in the quarter, while net sales fell 9 percent.