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Check out which companies are making headlines before the bell:

Sonic — The restaurant chain earned an adjusted 15 cents per share for its latest quarter, one cent a share above estimates. Revenue was light, however, and Sonic also saw comparable-restaurant sales fall 7.4 percent, wider than the 4.3 percent consensus estimate.

Restoration Hardware — The company beat estimates by two cents a share, with adjusted quarterly profit of 68 cents per share. The home furnishings retailer saw revenue also beat forecasts. Upbeat guidance for the current quarter is also in play, as the company's move to a membership model starts to gain some traction.

Dave & Buster's — Dave & Buster's came in four cents a share above estimates, with quarterly earnings of 63 cents per share. The restaurant chain's revenue was in line with Street projections, but a comparable-restaurant sales gain of 3.2 percent was short of the 3.7 percent consensus estimate.

GlaxoSmithKline — The drugmaker's shares are getting a boost after the Food and Drug Administration did not issue an expected decision on whether to approve Mylan's generic version of GSK's lung disease drug Advair.

PPG Industries — PPG remains on the watch list today after activist investor Elliott was quoted in a Dutch newspaper as saying Akzo Nobel shareholders owning 25 percent of the paint maker want it to engage in talks with PPG. Akzo has so far rejected two bids from its U.S.-based rival.

BlackRock — The asset manager is overhauling its active management business by cutting jobs, slashing fees, and increasing its use of computers to pick stocks.

Wells Fargo — The bank reached a $110 million tentative settlement of a class-action suit related to its sales practices scandal. The settlement still needs court approval.

Vertex Pharmaceuticals — The drugmaker plans to seek Food and Drug Administration approval for an experimental cystic fibrosis drug after promising results in late-stage studies.

Dunkin' Brands — The restaurant chain was downgraded to "sell" from "neutral" at Goldman Sachs, which sees risk to the outlook for same-store sales and unit growth at U.S.-based Dunkin' Donuts shops. Goldman also notes that Dunkin' is trading at the high end of its valuation range.

Skechers — The footwear maker was downgraded to "negative" from "positive" at Susquehanna Financial, saying growth prospects are being hurt by competition from companies like Adidas, Puma, Nike, and Under Armour.

Exar — The integrated circuit maker agreed to be bought by rival MaxLinear for $13 per share, or $472 million net of cash held by Exar. The price represents a 22.4 percent premium over Exar's Tuesday closing price., Facebook, Alphabet, eBay — These stocks are rated "overweight" in a new global internet research report at Barclays. Among the highlights for each stock: Amazon's ad business growth, Facebook's higher video engagement, growing mobile search for Alphabet, and improvement in ad conversion rates at eBay.

Morgan Stanley — Deutsche Bank upgraded Morgan Stanley to "buy " from "hold," noting valuation following a recent 10 percent drop as well as quicker than expected improvement in Morgan Stanley's fixed income business.