In corporate news, Paramount Global (PARA) is considering replacing Chief Executive Bob Bakish with a committee of executives to run the company on an interim basis, the Wall Street Journal reported Friday. Paramount shares were falling 1.9%.

General Mills (GIS) is exploring the sale of its yogurt business in North America that could be worth over $2 billion, Reuters reported Friday. General Mills shares were shedding 0.7%.

AutoNation (AN) shares surged almost 7% after it reported mixed fiscal Q1 results with new vehicle revenue rising year over year despite lower prices, while used car sales dropped.

Skechers USA (SKX) is poised to deliver $10 billion in sales by 2026, as suggested by the company's "strong" Q1 results, UBS Securities said in a note on Friday. The investment firm lifted Skechers' price target to $88 from $81 and maintained its buy rating. Skechers shares jumped 11%.

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