Check out which companies are making headlines before the bell:
ADP – Bill Ackman's Pershing Square said it was seeking effective control of the payroll services company through nominations for five board seats at the annual meeting, and is also calling for the replacement of CEO Carlos Rodriguez.
Cigna – The insurer reported adjusted second quarter profit of $2.91 per share, compared to the consensus estimate of $2.48 a share. Revenue also beat forecasts, and Cigna raised its full-year outlook as its membership rolls grow.
WellCare Health – The health insurer mirrored rival Cigna by beating forecasts and raising its full-year outlook. WellCare beat estimates by 28 cents with adjusted quarterly profit of $2.52 per share and saw revenue beat consensus, as well. WellCare's results were helped by higher enrollment in its Medicare and Medicaid offerings.
Ford – Nomura downgraded the automaker's stock to "neutral" from "buy," citing uncertainties surrounding earnings growth in both North America and Europe.
Newell Brands – The maker of Rubbermaid food containers and Sharpie pens matched estimates, with adjusted quarterly profit of 87 cents per share. Revenue exceeded estimates and the company raised its full-year forecast, saying it is performing well in a challenging environment where retailers are consolidating and reducing inventory.
Viacom — The media company reported adjusted quarterly profit of $1.17 per share, 12 cents a share above estimates. Revenue also topped forecasts. The beat comes despite a 2 percent drop in ad revenue.
Potbelly – The sandwich chain fell one cent a share short of estimates, with adjusted quarterly profit of 11 cents per share. Revenue also fell shy of expectations. Potbelly said the overall restaurant environment remains "challenging" and doesn't expect an improvement in industry trends this year.
Eli Lilly – The drugmaker said its experimental migraine drug significantly reduced pain in a late stage study, which included patients who suffered an average of more than five migraine attacks per month. Lilly plans to file a marketing application for the drug during the first half of next year.
GoPro – GoPro reported an adjusted quarterly loss of nine cents per share, smaller than the consensus estimate of a 25 cents per share loss. The high definition camera maker saw revenue come in slightly above forecasts, and the company gave a strong current-quarter outlook amid higher sales and cost controls.
Shake Shack – Shake Shack came in four cents a share ahead of estimates, with adjusted quarterly profit of 20 cents per share. Revenue was ahead of forecasts, as well, however the restaurant chain's comparable-store sales drop of 1.8 percent missed analysts' forecasts for a 0.3 percent gain.
Kraft Heinz – Kraft Heinz reported adjusted quarterly profit of 98 cents per share, three cents a share better than estimates. The food company's revenue was short of consensus forecasts. Sales were impacted by weak North American demand, but the bottom line was helped by expense controls.
Activision Blizzard – Activision earned an adjusted 43 cents per share for its latest quarter, beating the consensus estimate of 30 cents per share. The video game maker's revenue also came in ahead of forecasts, but its full-year guidance falls short of projections.
Weight Watchers – Weight Watchers beat estimates by 15 cents a share, with quarterly profit of 67 cents per share. The weight loss company's revenue was also ahead of forecasts and Weight Watchers raised its full-year outlook, as both subscriber numbers and paid weeks posted double-digit increases.
Etsy – Etsy reported earnings of 10 cents per share for the second quarter, compared to Street forecasts of a loss for the online crafts marketplace. Revenue was slightly above estimates amid an increase in active sellers, and cost cuts helped the bottom line.
Yelp – Yelp surprised the Street – which had been expecting a quarterly loss – with profit of nine cents per share. The review website operator's revenue also beat forecasts. In addition, Yelp announced a $200 million stock buyback, as well as a deal to sell its Eat24 business to GrubHub for $287.5 million in cash.
GrubHub – GrubHub matched estimates with adjusted quarterly profit of 26 cents per share, with the food-delivery company reporting better-than-expected revenue. GrubHub also raised the lower end of its full-year sales guidance, but the shares were pressured in after-hours trading after hitting a record high in the regular trading session Thursday.
Bed Bath & Beyond – The housewares retailer announced it had accelerated a planned realignment of its store management structure, beginning the process in about half of its U.S. stores.
Toyota – The company will take a 5 percent stake in rival automaker Mazda, and the two announced they will jointly build a $1.6 billion U.S. assembly plant. Separately, Toyota raised its full-year profit forecast by 16 percent, based primarily on expectations of a drop in the yen's value.
Royal Bank of Scotland – RBS beat analyst estimates with a first half profit, its first since 2014, and possibly putting the bank on track for its first annual profit since 2007.
Raytheon – The defense contractor won a court victory when a U.S. district court judge in Los Angeles dismissed a $1 billion whistleblower lawsuit that had accused Raytheon of overbilling the U.S. government on a satellite sensor contract.