Check out which companies are making headlines before the bell:
Tiffany — Tiffany earned an adjusted 64 cents per share for its latest quarter, 4 cents below estimates, while the luxury goods retailer's revenue was well short of forecasts. Comparable store sales fell 9 percent compared to analyst estimates of a 4.8-percent drop. Tiffany is being hurt in part by a stronger dollar that discourages foreign tourists from buying its goods.
Express — The apparel seller reported quarterly profit of 25 cents per share, 2 cents below estimates, with revenue also missing the mark. Express also forecast full-year profit of $1.41 to $1.54 per share, below consensus estimates of $1.66, with the company noting a challenging environment for apparel sellers.
Microsoft — Microsoft will lay off 1,850 workers and take a $950 million charge to restructure and streamline the mobile phone business it acquired from Nokia in 2014.
Hormel — The food maker's Chief Financial Officer Jody Feragen will retire as of October 30. Chief Accounting Officer James Sheehan will take over as CFO at that time.
Hewlett Packard Enterprise — The company announced plans to spin off its technology services business and merge it with Computer Sciences Corp. The move splits off about 100,000 workers, or about two-thirds of HPE's work force, with the remaining company operations focusing on software and networking equipment.
Intuit — The maker of TurboTax software reported better-than-expected results for its latest quarter and also raised its full-year forecast, benefiting from strong growth for TurboTax and QuickBooks, as well as the sale of several businesses.
Monsanto — Monsanto remains in the news today, a day after rejecting a $62 billion takeover bid from Germany's Bayer but leaving the door open to talks. Bayer has responded, saying it looks forward to holding constructive discussions with the maker of agricultural chemicals and seeds.
Toyota — Toyota struck a ride-sharing partnership with Uber, making a strategic investment and giving Uber drivers new leasing options through the automaker.
Arthur J. Gallagher — The insurance brokerage will replace Coca-Cola Enterprises in the S&P 500 after the close of trading Friday. Coca-Cola Enterprises is merging with two other global Coke bottlers to form a new company called Coca-Cola European Partners, which will be headquartered in Spain and ineligible for continued inclusion in the S&P 500.
Anheuser-Busch InBev — The beer brewer is being investigated by US antitrust officials over new distribution incentives, according to Reuters. The incentives encourage distributors to sell more of the company's brands rather than competing craft beers.
Sanofi — Sanofi will put forth a slate of candidates to replace the entire board of drug maker Medivation, according to Reuters, after its $9.3 billion unsolicited takeover bid was rejected in late April.
Credit Suisse — Credit Suisse saw its long-term debt rating downgraded one notch by Fitch Ratings to A-minus. The agency pointed to the bank's reliance on difficult capital markets
Lockheed Martin — Lockheed's F-35 stealth jet fighter will now be tested in 2018 rather than the second half of 2017, according to government officials. That's due to the length of time needed to configure test aircraft with up-to-date software.
FedEx — FedEx has closed its acquisition of Europe's TNT Express, and says the process of integrating TNT's operations into its own will begin immediately.
Alphabet — The company's Google unit has unveiled changes to its advertising business, which will will display bigger ads atop search results and expand ads on the Google maps service.
Apple — Apple is developing a Siri-based rival to Amazon's Echo home assistant, according to The Information. It is also preparing a software developer kit so that app developers can create their own Siri-powered apps.