Check out which companies are making headlines before the bell:
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Alphabet – The company's Google unit may be hit with a record European Union fine of about $1.1 billion, according to multiple reports. The EU is said to be set to conclude that Google abused its search market dominance.
Booz Allen Hamilton – Booz Allen is under Justice Department investigation regarding its accounting practices, according to a Securities and Exchange Commission filing by the consulting firm. Booz Allen said it is cooperating with the government, and that its own auditing had not identified any erroneous practices.
BHP Billiton – BHP named Ken MacKenzie – the former CEO of Australian packaging company Amcor – as its next chairman. He'll succeed former Ford CEO Jac Nasser as chairman of the mining company on September 1. Nasser had been the target of criticism by activist investor Elliott Management.
Finisar – Finisar reported quarterly profit of 50 cents per share, matching analysts' estimates. Revenue for the fiber-optic components maker was below estimates. It also gave a current-quarter forecast that missed analysts' projections, as it continues to see slower spending in China. The shares were lower initially but turned around in postmarket trading following the company's conference call.
Weight Watchers – The shares are getting a boost following a filing by general counsel Michael Colosi showing he purchased 7,110 shares in the weight loss company.
Tanger Factory Outlet Centers – Tanger was downgraded to "hold" from "buy" at Jefferies, which cites rising earnings risk from the shopping center-based real estate investment trust.
Nike – Nike was downgraded to "neutral" from "overweight" at JPMorgan Chase. JPMorgan said although it is encouraged by Thursday's announcement of a more efficient structure, North American sales are likely to get worse before they get better.
Johnson & Johnson – Johnson & Johnson announced the completion of its $30 billion purchase of Swiss drugmaker Actelion.
Valeant Pharmaceuticals – The drugmaker was rated "overweight" in new coverage at Cantor Fitzgerald, saying new management is executing well and boosting the company's future growth prospects.
Square – Credit Suisse downgraded the mobile payment company to "neutral" from "outperform," saying the stock is now fully valued after more than doubling since November. It does say management has executed very well since going public in late 2015.
Western Digital – Evercore rates the hard disk drive maker "outperform" in new coverage, noting the continued high demand for storage drives at data centers and the company's strong position in flash memory.