Check out the companies making headlines before the bell:
Netflix – Netflix reported quarterly profit of 89 cents per share, easily beating the consensus estimate of 68 cents a share. Revenue was in line with Street forecasts, and the important metric of net subscriber additions was well above analysts' expectations for the video streaming service.
IBM – IBM beat estimates by 2 cents a share, with adjusted quarterly profit of $3.42 per share. Revenue fell short of forecasts as it dropped 2.1 percent from a year earlier. IBM had seen revenue rise year-over-year for three straight quarters after a nearly six-year stretch of revenue declines. IBM also saw its share of revenue from its faster growing businesses like cloud computing fall to less than 50 percent of total revenue.
CSX – CSX earned $1.05 per share for the third quarter, topping estimates by 11 cents a share. The rail operator's revenue also beat forecasts, Results were helped by cost-cutting and higher prices for freight delivery.
United Continental – United Continental fell a penny a share short of consensus estimates, with adjusted quarterly profit of $3.06 per share. The airline's revenue did come in above forecasts, however, as it posted its best quarterly growth since 2010. United also raised its full-year outlook for the third time this year. Additionally, Deutsche Bank upgraded United, as well as rivals Delta Air Lines and American Airlines after the carriers recaptured a larger amount of their increased fuel expense than analysts had anticipated.
Teva Pharmaceutical – According to a Reuters report, pharmacy benefits manager Express Scripts will cover new migraine drugs from Eli Lilly and Amgen, but is excluding another medication made by Teva Pharmaceutical. That follows price negotiations with all three drug companies.
Winnebago – The recreational vehicle maker earned 94 cents per share for its fiscal fourth quarter, 3 cents a share above estimates. Revenue also beat Street forecasts. Winnebago saw smaller profit margins during the quarter, though cost saving initiatives and pricing adjustments helped offset higher costs.
U.S. Bancorp – The bank reported quarterly profit of $1.06 per share, beating estimates by 2 cents a share. Revenue also came in slightly above forecasts. Both profit and revenue reached record levels during the quarter.
U.S. Steel – Workers at the steel maker will get their biggest wage hike in six years, after the United Steelworkers union struck a tentative pact with U.S. Steel. Sources quoted by Reuters say the pact provides for a cumulative 14 percent wage hike.
Fresenius Medical Care – Fresenius cut its full-year forecast due to slower growth in its North American dialysis business. North America is the Germany-based company's largest market.
Pearson – The British company said it would return to profit growth this year, even as it faces difficulties in its U.S. higher education textbook unit.
Xerox – Xerox was dealt a setback in court, as Japan's Fujifilm won an appeal in its battle with the office equipment company over their aborted merger deal. Xerox abandoned the proposed $6.1 billion deal earlier this year following opposition by major shareholders Carl Icahn and Darwin Deason.
Target – Target is adding extra space dedicated to its toy business for the holiday season, as it tries to win more toy sales after Toys R Us went out of business earlier this year.
General Electric – GE will reportedly win a $15 billion Iraq power generation contract, according to the Financial Times. Sources tell the paper that Germany's Siemens was close to winning the deal, but the White House put pressure on Iraq to award the contract to a U.S. company.
Home Depot, Lowe's – Both stocks were both downgraded to "neutral" from "outperform" by Credit Suisse, with valuation cited for both home improvement retailers. Credit Suisse is also concerned about the impact of higher interest rates on the housing market.
Roku – Roku plans to resume sales of its video streaming devices in Mexico within a few weeks, following a favorable court ruling. Roku sales had been banned in Mexico for more than a year in a dispute involving hackers offering pirated content.