Among the companies with shares expected to actively trade in Friday's session are Pandora Media Inc Smith & Wesson Holding Corp . and Audience Inc . .

Apple Inc . is in talks to license music for a custom-radio service similar to the popular one operated by Pandora, people familiar with the matter have told the Wall Street Journal. Several online music services have recently added Pandora-like custom radio features, yet Apple's outsized presence in online-music sales and massive installed base of MP3 players and other devices could make it a much more serious threat. Pandora shares tumbled 14% to $10.80 in premarket trade. Apple shares were fractionally higher at $677.77.

Smith & Wesson's fiscal first-quarter profit jumped more than expected as the gun maker kept posting stronger firearm sales. The company also boosted its full-year guidance, sending shares up 21% to $10.89 in premarket trade.

Mobile-audio technology firm Audience said Apple is unlikely to use its processor intellectual property in its next-generation smartphone. Shares sank 60% to $7.56 premarket.

Ulta Salon Cosmetics & Fragrance Inc . 's fiscal second-quarter earnings rose 46%, as the beauty-products retailer benefited from its continued expansion and strong same-store sales. Shares jumped 8.8% to $103.61 premarket as results beat the company's expectations.