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Early movers: LOW, TMUS, PETM, HTZ, IFX & more

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Check out which companies are making headlines before the bell:

Target–The battered retailer reported second quarter profit of 78 centsper share, excluding certain items, missing estimates by one cent. The company also cut its earnings forecast for the year, with the company's CFO saying that although Target hasn't been performing up to expectations, it is seeing signs of improvement.

Lowe's–The home improvement retailer reported second quarter profit of $1.04 per share, beating estimates by two cents. Lowe's revenue and comparable store sales both beat consensus, as the company said it recovered most of the outdoor product sales missed in the first quarter due to bad weather.

Dunkin' Brands, Panera Bread–Barclays upgraded both stocks to "overweight" from "equal-weight." The firm said long term fundamentals for Dunkin' are compelling and that the current price offers an attractive entry point, while saying Panera's investments in new systems will position itself for longer term growth after a choppy period.

Infineon Technologies–Infineon is said to be near a $2 billion deal to acquire a U.S. chipmaker, according to Bloomberg. Among the possible targets: Power Integration and Fairchild Semiconductor.

JetBlue–Cowen upgraded the airline's stock to "outperform" from "market perform", saying it expects a number of moves to increase profitability, including a change in management.

Amicus Therapeutics–The drug maker's experimental drug to treat Fabry disease was as effective as enzyme replacement therapies after 18 months. Fabry disease is a disorder that causes abnormal fat accumulation.

Lexmark–The printer maker raised its offer for Swedish software company Readsoft for a fourth time, as it engages in a bidding war with Ohio-based software company Hyland.

PetSmart–PetSmart said it is exploring a possible sale of the company, as well as other alternatives, following pressure from activist investor Jana Partners. The pet supplies retailer said there is no guarantee any deal will be struck as it seeks ways to maximize shareholder value. At the same time, PetSmart also announced quarterly profit of 98 cents per share, beating estimates by five cents.

La-Z-Boy–La-Z-Boy reported quarterly profit of 20 cents per share, one cent short of estimates, though revenue was above forecasts. The furniture retailer also said it would increase its stock buyback program by up to five million shares.

Hertz–Hertz said its 2014 results to be "well below" its prior forecasts and also withdrew its full-year outlook. Hertz said automaker recalls and higher operating expenses are among the factors pressuring its car rental business.

T-Mobile U.S.–The New York Post reports that Iliad is asking Google and Microsoft for help with a renewed bid for the mobile carrier.

Walgreen–A forecasting error of $1 billion led to the departure of Walgreen chief financial officer Wade Miquelon, according to the Wall Street Journal.

By CNBC's Peter Schacknow

Questions? Comments? Email us at marketinsider@cnbc.com

  • Patti Domm

    Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.

  • A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

  • CNBC's Senior Personal Finance Correspondent

  • JeeYeon Park is a writer for CNBC.com. Follow her on Twitter: @JeeYeonParkCNBC

  • Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.

  • Senior Producer at CNBC's Breaking News Desk.