Market Insider

Early movers: GIS, NKE, KKD, RHT, AZO, MRK, AZN, CS, NLSN & more

Traders on the floor of the New York Stock Exchange
Brendan McDermid | Reuters

Check out which companies are making headlines before the bell:

General Mills — The cereal and food maker earned an adjusted 65 cents per share for its latest quarter, 3 cents above estimates, though revenue was slightly below forecasts. The results were hurt by the strong dollar and weaker U.S. sales.

Nike — The athletic footwear and apparel maker earned 55 cents per share for its latest quarter, 3 cents above estimates. However, revenue was short of expectations, putting the shares under pressure. Nike did chalk up a 12 percent gain in future orders compared to 2 percent a year earlier.

Krispy Kreme Doughnuts — Krispy Kreme beat estimates by a penny a share, with adjusted quarterly profit of 22 cents per share. The doughnut chain's revenue was shy of Street estimates, however, and it forecast full-year earnings below Street forecasts. Krispy Kreme's results in international markets weighed on its overall numbers, with same-store sales dropping 7 percent.

Red Hat — Red Hat reported adjusted quarterly earnings of 52 cents per share, 5 cents a share above estimates, while revenue for the Linux software provider also topped expectations. Red Hat's guidance for the full year also exceeded analysts' forecasts, thanks to increasing demand for its software and cloud services.

AutoZone — The auto parts retailer increased its stock buyback program by $750 million.

Merck — The drugmaker emerged victorious in a patent battle with Gilead Sciences, with a jury upholding a patent involving Gilead hepatitis C drugs. The jury in the case will now decide how much in damages to award to Merck.

AstraZeneca — AstraZeneca saw its blood thinner Brilinta fail in a clinical trial involving stroke treatment, with the drug not providing benefits that were significantly better than aspirin.

Credit Suisse — The bank said it would implement $821 million in additional cost cuts, including the elimination of 2,000 jobs at its investment banking business.

Nielsen — Nielsen is expanding its digital ad ratings offering to eight new markets, according to Reuters.

Alphabet — The company's Google unit won a key new client, as home improvement retailer Home Depot signed a deal to move some of its data to Google's cloud servers. — Amazon executive Prentis Wilson will be cross examined today, after testifying at the court proceeding involving the proposed buyout of Office Depot by Staples. The Federal Trade Commission is suing to block the deal, and the testimony appeared to support the regulators' case, according to observers.

United Continental — The airline should appoint one of its two new board members as chairman, according to hedge funds PAR Capital and Altimeter Capital. A Securities and Exchange Commission filing by the two asks that the appointment be made before shareholders vote on a slate of six other directors recently proposed by the funds.

Oracle — Oracle is suing Hewlett Packard Enterprise, saying the company improperly used third party support for Oracle's Solaris operating system. Oracle requires that customers use it for technical support.

Sun Communities — Sun is buying privately held REIT Carefree Communities for nearly $1.7 billion. Both companies focus on developments for recreational vehicles and manufactured housing.

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