Check out which companies are making headlines before the bell:
ConAgra Brands — The food producer came in 4 cents a share above estimates, with adjusted quarterly profit of 49 cents per share. Revenue missed forecasts amid an overall slide in sales, which the company attributes to its ongoing effort to build a higher quality revenue base.
Rite Aid — The drugstore chain reported adjusted quarterly earnings of 2 cents per share, half of what analysts had expected. Rite Aid's revenue also fell short, although the company said its performance was solid amid a difficult environment created by the extended process involving its deal to be bought by Walgreens Boots Alliance.
Nike — The stock was added as a "Best Idea" at Guggenheim, which said it continues to see Nike as one of the strongest global brands and that revenue and gross margin expansion should take place in 2017.
Hershey — The chocolate maker naming chief operating officer Michele Buck as its new CEO. Current Chief Executive J.P. Bilbrey had said in October that he would be stepping down, but he will remain on the job until March and will remain as nonexecutive chairman.
Micron Technology — Micron posted adjusted quarterly profit of 32 cents per share, 4 cents a share above estimates. The chipmaker's revenue was essentially in line with forecasts. Micro also gave an upbeat current-quarter forecast, thanks to improved pricing for its memory chips and a more stable personal computer market.
Anadarko Petroleum — Anadarko struck a deal to sell natural gas fields and pipelines in Pennsylvania for $1.2 billion. The buyer is a unit of privately held Houston-based energy company Alta Resources.
Bed Bath & Beyond — The company missed estimates by 13 cents a share, with quarterly profit of 85 cents per share. The home goods retailer also saw revenue miss Street forecasts. The company is forecasting full-year earnings per share at the low end of its prior outlook. Online sales have been growing, but customer traffic at its stores has been falling.
Baidu — Baidu is considering an initial public offering in either the U.S. or Hong Kong for its video streaming site iQiyi.com, according to The Wall Street Journal. Such an offering could value the business at up to $5 billion, according to the paper.
Alphabet — The Google parent is in talks with Honda for the automaker to supply vehicles for Alphabet's self-driving technology unit Waymo. Alphabet has already struck a partnership deal with Fiat Chrysler.
Yum Brands — The restaurant chain operator declared its first dividend since the separation of its China business. It will pay a dividend of 30 cents per share, distributed February 3 to shareholders of record as of January 13.
Alibaba — Alibaba's Taobao consumer-to-consumer shopping website has been returned by the U.S. to its blacklist of "notorious marketplaces." The list consists of companies that the U.S. has determined sell counterfeit goods and violate intellectual property rights.
Red Hat — Red Hat reported adjusted quarterly profit of 61 cents per share, 3 cents a share above estimates. However, revenue was shy of forecasts for the provider of Linux software. Separately, the company announced the departure of Chief Financial Officer Frank Calderoni in late January to join an unnamed company as CEO. Calderoni had previously been CFO at Cisco Systems.