Check out which companies are making headlines before the bell:
Wal-Mart — The retail giant earned an adjusted $1.07 per share for the second quarter, 5 cents a share above estimates. Revenue also topped forecasts. Wal-Mart raised its full-year earnings forecast, as well, and posted a 1.6 percent increase in U.S. comparable sales, the strongest in eight quarters.
Hormel Foods — The food producer reported quarterly profit of 36 cents per share, beating consensus forecasts by 1 cent a share. Revenue also beat estimates. Hormel's results were driven by strong sales for brands such as Skippy, Spam, and Muscle Milk, and the company also raised its full-year forecast.
Twitter — Evercore downgraded Twitter to "sell" from "hold," saying it sees more risk than reward because of competitive concerns. Evercore specifically cites Snapchat's move toward monetizing its own popular service.
Priceline Group — Evercore upgraded the stock to "buy" from "hold," noting the travel website operator's advantage of scale among other factors.
Cisco Systems — The Dow Jones industrial average component reported adjusted quarterly profit of 63 cents per share, 3 cents a share above estimates. Revenue was slightly above forecasts, and the networking equipment maker announced it would cut up to 5,500 employees or seven percent of its workforce.
L Brands — The apparel seller beat estimates by 11 cents a share, with adjusted quarterly profit of 70 cents per share. The Victoria's Secret parent also raised its outlook for the full year. The company's' results were helped by a 3 percent rise in comparable-store sales.
NetApp — NetApp came in 10 cents a share above analysts' estimates, with adjusted quarterly profit of 46 cents per share. The data storage company's revenue was essentially in line with forecasts, as is its current-quarter guidance. NetApp's bottom line was helped by cost cuts that offset a revenue decline.
Agilent Technologies — Agilent reported adjusted quarterly profit of 49 cents per share, 2 cents a share above estimates. Revenue essentially came in line with forecasts. The life sciences company also cut its annual guidance even as sales rise in two of its three business segments.
ResMed — ResMed filed legal action to halt what the medical device maker alleges is patent infringement by New Zealand device maker Fisher & Paykel Healthcare. The patent in question involves technology used in Fisher's Eson nasal mask.
SolarCity — The solar equipment company announced new cost cuts, including cutting the salaries of CEO Lyndon Rive and Chief Technology Officer Peter Rive to $1 from $275,000. The company, which is in the process of being bought by Tesla for $2.6 billion, cut expenses to compensate for a reduced solar installation forecast.
Ceasars Entertainment — The casino operator settled one of several outstanding lawsuits by bondholders, as it moves through the bankruptcy process.
Broadcom — The company is close to a deal to settle a shareholder lawsuit, according to The Wall Street Journal. The company is accused in that suit of underpaying for PLX Technology when Broadcom predecessor company Avago Technologies bought it in 2014 for $300 million. The tentative agreement would see the semiconductor technology company pay $14 million to former PLX investors.
Tyco — Tyco sold its security business in South Africa to Fidelity Security Group for about $140 million.
Gannett — Gannett has raised its bid for Chicago Tribune parent Tronc, according to The Wall Street Journal, although the exact details of the new bid could not be learned. Gannett first bid $12.25 per share for the former Tribune Publishing, then raised it to $15, although both bids were rejected.
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