Among the companies with shares expected to actively trade in Friday's session are Janus Capital Group Inc. (JNS), Nike Inc. (NKE) and Micron Technology Inc. (MU).

Legendary bond investor Bill Gross is leaving Pacific Investment Management Co., the company he helped found, to join Janus Capital. Mr. Gross will manage a newly created Janus Global Unconstrained bond fund and related strategies. Shares surged 40% premarket to $15.50.

Nike said its August quarter earnings rose 23%, helped by a lower tax rate and consumers spending more on footwear and apparel. Shares rose 9.4% to $87.24 as the results beat expectations.

Diamond Foods Inc. (DMND) posted better-than-expected fiscal fourth-quarter results as sales in its nuts and snacks segments picked up strength and operating expenses decreased. Shares edged up 4.4% to $27.80 premarket.

Finish Line Inc. (FINL) said its fiscal second-quarter profit ticked down 1.3% as higher costs, expenses and write-downs cut into higher sales. The results fell short of analysts' expectations, as well as the company's. Shares dropped 9.1% to $26.73 premarket.

Micron said "favorable market conditions" helped the memory-chip maker report a better-than-expected revenue increase of 6% in its August quarter. The company also projected better-than-expected sales for the current quarter. Shares climbed 6.9% to $33.87 premarket.

Powell Industries Inc. (POWL), which produces equipment and systems used to manage electrical energy, slashed its fiscal year outlook on start-up issues related to its May implementation of new business systems and tools that resulted in scheduling delays and higher-than-expected costs during July and August. Shares dropped 9.1% to $45.19 premarket.

Progress Software Corp. (PRGS) reported a stronger-than-expected adjusted profit for its fiscal-third quarter as the business-software company benefited from revenue growth and lower operating expenses, sending its shares up 8% to $25 premarket.

 
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Boeing Co. (BA) and aviation regulators have agreed on mandatory replacement of certain foamlike blocks inside the structures of more than 80 of the company's 787 Dreamliner jets to ensure fire-suppression systems will work properly in case of an emergency.

Coach Inc. (COH) said the former chief executive credited with transforming the retailer from a leather goods company to an international brand will retire in November. Lew Frankfort, who joined Coach in 1979, stepped down from his post as chief executive last year and became executive chairman.

Fabrinet (FN), a contract manufacturer specializing in optical products, has again delayed its 10-K report as it reviews its accounting practices concerning consignment goods.

For the first time in nine years, General Motors has an investment grade rating from the two largest credit agencies in the U.S. Standard & Poor's upgraded the auto maker and its lending arm, GM Financial, to BBB- from BB+.

L-3 Communications Holdings Inc. (LLL) on Friday revealed more accounting problems and revisions to prior results as the company found material weaknesses in its internal financial controls.

Pep Boys-Manny Moe Jack (PBY) said Friday that Chief Executive Mike Odell has resigned after six years in the post, and director John Sweetwood will serve as interim CEO, effective immediately.

Two large stakeholders in Shutterfly Inc. (SFLY), Marathon Partners Equity Management LLC and the firm's managing partner Mario Cibelli, said Friday they are willing to support a sale of the company at a fair price.

Symantec Corp. (SYMC) appointed Michael A. Brown, the computer-security company's interim chief executive, to the post permanently, ending a six-month search.

Write to Josh Beckerman at josh.beckerman@wsj.com

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