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Amazon.com, Inc. (NASDAQ: AMZN) was trading higher by 4.3 percent early Friday morning after reporting its second-quarter results Thursday. The company did show a sales miss in the quarter but some Street analysts are encouraged by a $965 million beat in GAAP operating profit and momentum in high margin business lines and initiatives like advertising, AWS and subscription.

Merck & Co., Inc. (NYSE: MRK) was trading lower by nearly 2 percent after reporting its second-quarter results. The global biopharmaceutical giant said it earned $1.06 per share in the quarter on revenue of $10.465 billion versus expectations of $1.03 per share and $10.29 billion. Management also narrowed its sales guidance range for the full year from $41.8-$43 billion to $42-$42.8 billion.

Chesapeake Energy Corporation (NYSE: CHK) was trading higher by around 15 percent after the petroleum and natural gas exploration and production company said it will sell its Utica shale position to Encino Acquisition Partners for around $2 billion.

Global X Social Media ETF (NASDAQ: SOCL) could see increased volatility throughout Friday's trading session. Shares of Facebook, Inc. (NASDAQ: FB) were hit hard Thursday after a concerning second-quarter earnings report and outlook. Also, Twitter Inc (NYSE: TWTR) showed in its earnings report Friday morning a decline in monthly active users.

Tonix Pharmaceuticals Holding Corp (NASDAQ: TNXP) plummeted around 75 percent in reaction to a disappointing update relating to a clinical trial. The company said it will stop a Phase 3 study of its Tonmya therapy in military-related posttraumatic stress disorder due to inadequate separation from placebo on the primary endpoint at week 12.

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