Check out which companies are making headlines early Friday:
Wells Fargo – The bank matched estimates with quarterly profit of $1.01 per share, while revenue was slightly shy of estimates. The bank said it is pleased with its performance during a period of economic uncertainty.
Citigroup – Citi beat forecasts by 14 cents with second quarter profit of $1.24 per share, while revenue also exceeded forecasts. Operating expenses fell from a year ago, as did the cost of credit.
Herbalife – The FTC is expected to announce today that it has determined Herbalife is not a pyramid scheme, according to Dow Jones. Herbalife would pay a fine of $200 million over claims of misrepresentation, according to the report, and will agree to change some business practices.
PNC Financial – The bank earned $1.82 per share for the second quarter, beating estimates by seven cents. Revenue was slightly shy of forecasts, but the bank said it was pleased with the quarter against a backdrop of global uncertainty.
U.S. Bancorp – The company beat estimates by two cents with adjusted quarterly profit of 82 cents per share, with revenue also coming in above Street projections. The bank notes that its revenue came in at record levels, and also cites a strong return on assets.
VF Corp. – The maker of North Face, Wrangler and other apparel brands was downgraded to "hold" from "buy" at Brean Capital, citing valuation.
Harley-Davidson – Stifel Nicolaus downgraded Harley to "hold" from "buy," citing ongoing fundamental challenges and weaker sales.
Line Corp. – Line shares will be on watch on their second day of trading on the NYSE and first in Tokyo, where the messaging app maker matched its successful New York debut.
Priceline, Expedia – These and other travel stocks are on watch today, following the attack in Nice, France that killed 84 people. European travel-related stocks have been under pressure following news of the truck attack.
Xerox – Xerox has privately rejected R.R. Donnelley's bid to merge with Xerox's document business, according to The Wall Street Journal. Xerox is planning to go ahead with its plan to split into two separate publicly traded companies.
Tesla – The automaker has been asked to brief the Senate Commerce Committee on the May 7 fatal crash involving its Autopilot software.
Zynga – Zynga has abandoned a plan to sell and then lease back its headquarters in San Francisco, according to the New York Post. The paper said the rent that the game developer would have to pay would be too high to justify the move.
Yahoo – Yahoo's future should become more clear next week, with The New York Times reporting that final bids for its core internet assets are due Monday with the board set to make a decision soon afterward. Separately, the New York Post reports that Verizon will likely be the winner in the bidding contest.
Qualcomm – BMO downgraded the chip maker's stock to "underperform" from "market perform" due to several negative catalysts including an expected decline in Qualcomm's licensing business.
AMC Networks, CBS, Discovery Communications – UBS downgraded all three media stocks to "sell" from "neutral". UBS said AMC has a lack of near term catalysts and expects declines in the ratings of the hit show "The Walking Dead." It cites valuation for its CBS call, and points to an advertising slowdown and a growth in "skinny bundles" for cable customers for its view on Discovery.