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Early movers: RL, CHK, PLAY, CUDA, COST, LMT, JPM & more

Traders work on the floor of the New York Stock Exchange.
Lucas Jackson | Reuters
Traders work on the floor of the New York Stock Exchange.

Check out which companies are making headlines before the bell:

Ralph Lauren — Founder Ralph Lauren will step aside as chief executive officer, though he'll remain as executive chairman and chief creative officer. He'll be replaced by Stefan Larsson, the president of Gap's Old Navy division. UBS upgraded Lauren stock to "buy" from "neutral" following the move. Gap shares were downgraded to "underperform" from "neutral" at Mizuho Securities following the announcement on concerns about the impact of Larsson's departure.

Chesapeake Energy — The energy producer will cut its workforce by 15 percent, as it tries to deal with falling prices for oil and natural gas. It will take charges of about $55.5 million as a result.

Dave & Buster's — The restaurant chain announced a secondary offering of 6 million shares by certain stockholders, who will receive all the proceeds from these sales.

Barracuda Networks — Barracuda reported quarterly sales that fell below Street forecasts, and also gave weaker than expected current quarter earnings and revenue guidance. The security and storage company pointed a slowing storage market as one problematic factor, and said it is taking steps to deal with that slowdown.

Rio Tinto — The mining company sold its 40 percent stake in an Australian coal mine for $606 million, in its latest disposal of Australian coal assets.

Costco — The warehouse retailer reported quarterly profit of $1.73 per share for its latest quarter, 7 cents above estimates, but revenue was below forecasts on lower fuel prices and a stronger U.S. dollar.

Lockheed Martin, Boeing – The two companies saw their United Launch Alliance joint venture win a $882 million contract to continue launching satellites for the Air Force.

JPMorgan Chase — JPM will have to face a class action suit in the U.S. related to the "London Whale" case, which saw the bank take a $6.2 billion loss. That follows a court ruling in New York late Tuesday.

Ford Motor — The automaker received a five-day strike notice at a key plant for its popular F-150 pickup truck. The strike authorization comes amid disagreements over a local labor contract.

AT&T — AT&T will change the way its DirecTV unit uses to count commercial subscribers, which will trim the official subscriber count by 918,600. The company said revenue and cash flow won't be affected by the change.

TiVo — TiVo introduced a new DVR called the "Bolt" which allows users one-button commercial skipping and other features.

Advance Auto Parts — Advanced Auto is a target of activist hedge fund Starboard Value, according to The Wall Street Journal, which said Starboard will announce today that it has taken a 3.7 percent stake in the auto parts seller.

Apple — Apple has launched its Apple Music service in China as of today.

Brown-Forman — The spirits maker is exploring the sale of its Southern Comfort and Chambord brands, according to a Reuters report.

ComScore — The data analytics company bought viewership rating provider Rentrak for about $771 million in stock.

Amazon.com — Amazon is testing a service called Amazon Flex, a Uber-like service for package deliveries. Drivers will be paid up to $25 per hour to deliver Amazon orders using their own cars.

Target – The retailer will match online prices with those of online competitors, including retail giants Amazon and Wal-Mart.