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Early movers: PEP, AVG, JPM, MSFT, COST, TSLA & more

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Check out which companies are making headlines before the bell:

PepsiCo — The snack and beverage giant reported adjusted second quarter profit of $1.35 per share, five cents a share above estimates. Revenue also exceeded forecasts. The company said it was pleased with its quarter, especially considering the volatile global economic environment.

Western Digital — The hard disk drive maker raised its guidance for the fiscal fourth quarter that ended July 1. Western Digital also announced the appointment of Mark Long as executive vice president/finance, with Long becoming chief financial officer on September 1.

AVG Technologies — AVG will be bought by Dutch security software rival Avast Software for $1.3 billion in cash, or $25 per share. The price represents a 33 percent premium to AVG's Wednesday closing price.

WhiteWave Foods — The Dean Foods spin-off will be bought by French dairy maker Danone for about $10 billion, or $56.25 in cash. That represents a nearly 19 percent premium for WhiteWave shareholders.

JPMorgan Chase — The bank might be forced to move thousands of workers out of Britain, according to CEO Jamie Dimon. He told an Italian newspaper that the shift might be necessary if Britain loses its automatic right to sell financial services to the European Union following the Brexit vote.

Microsoft — Microsoft will unify its cloud-based business software offerings into a line called "Dynamics." The software involved helps run various back-office functions.

Costco — Costco reported flat June same-store sales, a better performance than the 1.5 percent drop that analysts were anticipating for the warehouse retailer.

Biomarin Pharmaceutical — Biomarin may be a takeover target of Swiss drug maker Roche, according to a Betaville report. Such a deal could be in the $130 to $150 per share range, although it is not clear if a formal offer has been made.

Corning — Corning was added to the "conviction buy" list at Goldman Sachs, based on an upbeat outlook for the glass industry.

Tesla — The National Highway Traffic Safety Administration is probing a July 1 crash involving a Tesla Model X. The driver said it was being operated in autopilot mode but Tesla said it had no data to suggest that autopilot was engaged at the time of the accident.

Oneok Partners — The natural gas distributor was upgraded to "buy" from "neutral" at UBS, which said any earnings drag from the company's Bakken exposure will lessen over the long term.

Cigna — The insurance company's stock was rated "outperform" in reinstated coverage at Oppenheimer, saying the shares are attractive at current prices even if the planned Cigna takeover by Anthem does not happen.

L Brands — The Victoria's Secret parent reported a six percent increase in comparable-store sales, well above the 2.1 percent consensus estimate. Sales were better than expected at both Victoria's Secret and Bath & Body Works.

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