Check out which companies are making headlines before the bell:
Boeing — Boeing announced a cut in 777 production to five from seven per month, beginning next August. Separately, Boeing said it would hike its quarterly dividend by 30 percent and also unveiled a $14 billion stock buyback plan.
VeriFone — VeriFone reported adjusted quarterly profit of 30 cents per share, one cent a share above estimates. Revenue also came in above forecasts, however the maker of payment terminals gave 2017 guidance that comes in below Street estimates.
Quest Diagnostics — Quest is investigating an unauthorized intrusion into its systems, and the medical lab operator said it notified customers whose accounts have been affected. Quest said the accessed information did not include Social Security numbers or credit card information and that there is no evidence that the information has been misused.
Eli Lilly — The drugmaker raised its quarterly dividend by 1 cent to 52 cents per share. Separately, Lilly announced a new discount program for users of its insulin products.
Fifth Third Bancorp — The Cincinnati-based bank struck a partnership deal with startup online lender ApplePie Capital, taking an equity stake and looking into potentially purchasing loans from the San Francisco-based company.
Alphabet — Alphabet's Google unit signed a deal to put computer servers in Cuba, to improve the speed of its services there.
Anheuser-Busch InBev — The brewing giant is selling five Eastern European beer brands to Japan's Asahi Group for $7.8 billion. AB InBev had put those brands up for sale as part of winning regulatory approval for its merger with SABMiller.
Patterson-UTI Energy — Patterson is buying smaller drilling rival Seventy Seven Energy in an all-stock deal worth about $1.42 billion, excluding assumed debt.
Realty Income — The real estate investment trust was upgraded to "overweight" from "equal-weight" at Morgan Stanley as part of an overall REIT industry report at Morgan Stanley. The firm has changed its view on REITS to "cautious" form "in-line," with Realty Income the only firm above the "equal-weight" rating. Morgan Stanley's caution comes from the impact of rising rates and slower growth, but it likes Realty Income because of its scale, balance sheet, and investor base.
Exxon Mobil — The company's chairman and chief executive officer, Rex Tillerson, has officially been named as President-elect Donald Trump's choice for secretary of State.
Urban Outfitters — The apparel retailer gave updated guidance, saying fourth quarter comparable sales are growing in the low single digits, signaling a better performance than the 1.5 percent rise predicted by analysts.
Buffalo Wild Wings — BMO Capital cut the restaurant chain's stock to "market perform" from "outperform," with the shares now within 10 percent of the firm's prior price target. BMO said there's a risk of a 2017 earnings guidance shortfall and the need for strong execution of cost savings initiatives.
CBS — BMO upgraded CBS to "outperform" from "market perform" after the idea of a merger between CBS and Viacom was taken off the table. BMO said CBS has an attractive mix of assets, and that there's a small possibility that CBS itself could be an acquisition candidate.
Coca-Cola, Procter & Gamble — Deutsche Bank downgraded the two Dow components to "hold" from "buy." The bank has favorable views of both companies longer term, but sees few near-term catalysts with the consumer group at or near fair value.