Early movers: MET, LOCO, QCIN, AAPL, TSLA & more

Traders work the floor of the New York Stock Exchange.
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Traders work the floor of the New York Stock Exchange.

Check out which companies are making headlines before the bell:

Morgan Stanley–Macquarie downgraded the stock to "neutral" from "outperform", saying the shares are now appropriately valued and that further upside may be more difficult to achieve. Macquarie is removing Morgan Stanley from its "marquee" list and adding Citigroup to that list.

TripAdvisor, Priceline–Evercore upgraded TripAdvisor to "equal-weight" from "underweight", while cutting Priceline to "underweight" from "equal-weight". The moves were part of a report on Google's new travel industry initiatives, with Google added to Evercore's "Conviction Buy" list.

Metlife—The Financial Stability Oversight Council designated the insurer as systemically important. The company said it is now exploring ways to fight that designation, which subjects MetLife to stricter regulatory oversight.

El Pollo Loco–The restaurant chain matched estimates in its first earnings report as a public company, earning 16 cents per share for the second quarter, excluding certain items.

Gap–The clothing retailer reported a two percent drop in same-store sales for August, missing consensus estimates of a 1.6 percent increase. The Old Navy unit did manage to post a two percent same-store sales rise, which the company called "encouraging."

Zumiez–Zumiez beat estimates by four cents with second quarter profit of 27 cents per share, excluding certain items, but the sports equipment and teen apparel retailer gave a current quarter outlook that's below analyst forecasts.

Quiksilver–Quiksilver posted a third quarter loss of 20 cents per share, excluding certain items, disappointing analysts who had expected a profit of three cents per share. Revenue was also well below estimates for the seller of surfing and skateboarding apparel. Late product deliveries contributed to the loss, among other factors.

Michael Kors–The luxury retailer launched a secondary stock offering of about 11.6 million shares held by two of the luxury goods seller's majority shareholders. Lawrence Stroll and Silas Chou will sell their combined 5.7 percent stake and step down from the company's board.

Apple–The tech giant plans to add additional security alerts for users of its iCloud service. CEO Tim Cook told the Wall Street Journal the company will also encourage users to take stricter security measures, in the wake of hacking incidents involving celebrity photos.

Tesla–The electric vehicle maker has picked Nevada, as expected, as the home of a new $5 billion battery factory.

American Airlines Group–American is shrinking the size of Envoy, its regional carrier formerly known as American Eagle. Nearly 50 Envoy jets will be shifted to another regional carrier owned by American, PSA Airlines. The move comes after American failed to reach a long-term labor agreement with Envoy pilots.

Nvidia–The graphics chip maker is suing Qualcomm and Samsung, accusing both of infringing on its graphics patents.

By CNBC's Peter Schacknow

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