Check out which companies are making headlines before the bell:
CarMax – Sterne Agee initiated the used-car retailer at "buy," citing the firm's dominance in the sector and long-term opportunities to triple its share in existing markets and double its footprint amid increased supply of recent-model used vehicles.
Apple- UBS raised its fiscal year 15 estimates on the stock to $9.17 from $9.04 a share, noting greater iPhone demand and increased estimates for the number of sell-ins. Separately, the iPhone maker and electric battery maker A123 Systems are close to settling a legal dispute over employee poaching claims.
Cosi – The fast casual chain reported a loss of 12 cents a share, narrowing the 17 cent loss from the same period last year. Revenue came in at $17.9 million, below $18.4 million in the year-ago period. Comparable store sales rose 4.4 percent in company-owned stores, while franchises saw a decrease of 2.7 percent.
Kohl's- The retailer reported earnings per share of 63 cents, a 5 percent increase from the year-ago period, on revenue of $4.12 billion, a 1.3 percent gain from last year. First-quarter same-store sales rose 1.4 percent, contrasting with a 3.4 percent decline in the first quarter of 2014.
Children's Place raised its outlook as earnings for the first quarter increased over the same period last year. Sales fell to $405 million from $410 million a year earlier. Same-store sales rose 0.7 percent for the fourth consecutive quarter of growth.
Crocs- Piper Jaffray upgraded the stock to "overweight" from "neutral," citing expectations of increase in operating margin to the low double-digits and management's increased focus on clogs. Jaffray also raised its price target to $17 from $13.
Urban- Telsey upgraded the stock to "outperform" from "marketperform," citing reasonable valuation as an "attractive entry point" for the specialty retailer, a sector expected to pick up in growth as first-quarter headwinds such as weather diminish.
Puma Biotechnology fell as much as 25 percent in premarket trading, after details from a late-stage trial of the company's breast cancer pill showed that it improved disease-free survival for certain patients, but only by 2.3 months.