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Check out which companies are making headlines before the bell:

Michael Kors — The luxury goods maker reported quarterly profit of 98 cents per share, beating estimates by 2 cents a share. Revenue was also above forecasts. Same-store sales were up 0.3 percent, matching forecasts, and Kors also announced a $1 billion share buyback.

Nike — The athletic apparel and shoe maker was downgraded to "equal weight" from "overweight" at Morgan Stanley, which said the athletic apparel category is weakening while competition is increasing. is buying the maker of website design software for $2.8 billion in cash, or $75 per share. That represents a more than 56 percent premium over Tuesday's close.

Tesla — CEO Elon Musk told the automaker's annual meeting that Model 3 owners will not receive free and unlimited access to the company's charging station network for life, unless they purchase a specific package. Separately, the automaker said that two upcoming software updates should fix persistent glitches with the futuristic rear doors on its Model X SUV.

Under Armour — The company issued a sales warning directly related to the bankruptcy filing of sporting goods retailer Sports Authority. The sports apparel maker said it would only see about a quarter of the revenue it had originally expected from sales at Sports Authority.

Costco — Goldman upgraded the warehouse retailer's shares to "buy" from "neutral," citing benefits from the transition from American Express to Visa credit cards, as well as an anticipated member rate increase.

Whole Foods — The grocery chain was upgraded to "outperform" from "neutral" at Credit Suisse, which said Whole Foods is in the beginning stages of a market repositioning that should rejuvenate its growth.

Lands' End — The retailer lost 18 cents per share for its first quarter, compared to estimates of a 2 cents per share profit. Revenue also fell below Street forecasts, with comparable-store sales falling 7.1 percent.

Toyota — The automaker is in talks to buy two robotics divisions from Google parent Alphabet, according to a report in Japan's Nikkei newspaper. That includes the Boston Dynamics division, known for the Cheetah robot.

Workday — Workday earned an adjusted 5 cents per share for its latest quarter, compared to consensus forecasts of a 2 cents per share loss. Revenue was also better than expected for the provider of enterprise cloud applications for finance and human resources, but shares are under pressure on indications of slowing growth in billings.

Staples — Chief Executive Officer Ron Sargent will depart after the company's June 14 annual meeting. The move comes just a few weeks after Staples ended its planned deal to buy rival Office Depot in the face of Justice Department objections. Staples North American President Shira Goodman will serve as interim CEO while a special committee searches for a permanent replacement.

Boyd Gaming — The casino operator is selling its 50 percent stake in Atlantic City's Borgata casino to MGM Resorts for about $900 million.

Alibaba — Major shareholder Softbank will sell about $7.9 billion in Alibaba shares, cutting its stake in the China-based e-commerce giant to 28 percent from 32 percent.

Apple — Apple is planning to issue $1 billion in 30-year bonds in Taiwan, according to a Reuters report.

Las Vegas Sands, Wynn Resorts — These and other casino operators operating in Macau are on watch today, after gaming revenue dropped 9.6 percent in May. That marked the 24th consecutive month of falling revenue. Separately, Las Vegas Sands settled a lawsuit with former CEO Steve Jacobs, who had sued in 2010 for breach of contract and wrongful termination.

Microsoft — Microsoft is selling about 1,500 patents to China electronics maker Xiaomi, in a deal that also includes a patent cross-licensing agreement. Financial terms of the deal were not disclosed.

Valeant Pharmaceuticals — The drugmaker will discuss its delayed first-quarter results in a conference call on June 7, and file the numbers with U.S. and Canadian regulators on or before June 10 — that's well ahead of a July 31 deadline.

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