Before the bell:

U.S. stocks were poised for a lower open Friday, with futures losing momentum after Caterpillar released disappointing earnings.
U.S. stocks surged on Thursday, following news that European leaders reached an agreement to contain Greece's debt crisis. Fitch will place the Greek sovereign rating into 'Restricted Default' and assign 'Default' ratings to the affected Greek government bonds on the date that the offer period for the proposed debt exchange closes.
Companies: Before the bell, Caterpillar (CAT, Fortune 500) reported a profit of $107 million, a 30% increase from the second quarter of 2010. However, shares fell 7% in premarkets since the heavy equipment manufacturer fell short of Wall Street expectations.
Caterpillar earned $1.72 per share, slightly missing the $1.75 forecast from Thomson Reuters analyst consensus.
McDonald's (MCD, Fortune 500) beat Wall Street expectations with a surge in earnings of $1.35 per share, compared to $1.13 in year-ago quarter. Analysts had expected earnings of $1.28 per share, according to a consensus from Thomson Reuters. Shares rose 2% in premarket trading.
General Electric (GE, Fortune 500) reported operating earnings of $3.7 billion or 34 cents per share -- a jump of 17% from the year-ago quarter. Shares were up 1.2% in premarkets.
Former Dow member Honeywell (HON, Fortune 500) beat analyst estimates with second-quarter earnings of $1.02 per share. The company reported revenue of $9.1 billion, excluding $234 million from a newly discontinued operation. Shares fell about 1% in premarket trading.
Verizon (VZ, Fortune 500) reported earnings per share of 57 cents, topping analyst estimates by 2 cents.
World markets: