Check out which companies are making headlines before the bell:
Constellation Brands — The spirits maker earned an adjusted $1.56 per share for its latest quarter, well above estimates of $1.32 a share, with revenue matching forecasts. Constellation also raised its full-year forecast thanks to a strong beer business, although the numbers are still somewhat below Street estimates.
Yum Brands — The restaurant operator missed estimates by seven cents with adjusted quarterly profit of $1 per share. Revenue also came in below forecasts, and Yum's sales in the key China market were up a less-than-expected 2 percent. The parent of KFC, Taco Bell, and Pizza Hut also cut its full-year forecast, although it did release some positive news in the form of a 12 percent dividend increase.
Twitter — Saudi Prince Alwaleed and his Kingdom Holding investment firm have increased their combined stake in Twitter to more than five percent.
Adobe Systems — The software company cut its 2016 profit forecast, in response to the negative effects of a stronger dollar.
Biogen — The drug maker released new data showing favorable results for its Tecfidera drug in newly diagnosed multiple sclerosis patients, as well as those who are in the early stages of the disease. Tecfidera is already the most-prescribed MS drug in the country, and Biogen is hoping to expand its use.
Morgan Stanley — RBC upgraded the investment firm's stock to "outperform" from "sector perform," saying it expects Morgan Stanley's wealth management business to drive earnings growth.
Lululemon, TJX, Tiffany, Urban Outfitters — These four retailers are Citigroup's top picks in new coverage of the retail sector, with buy ratings on those stocks as well as Ross Stores, Nordstrom, Signet Jewelers, and Burlington Stores.
Nike — Nike announced the departure of Bob Hurley as chief executive officer of its Hurley Brand, which specializes in surf and action-related apparel and accessories.