Take a look at some of Tuesday's early movers:
Ralph Lauren — The company holds its investor day Tuesday and said it expects to incur restructuring charges of up to $400 million in the 2017 fiscal year. For the fiscal first quarter, the firm expected net revenue to decline at a mid-single-digit rate, with operating margin about 110 to 160 basis points below the same period last year. For the full year, Ralph Lauren said it expects a decline in sales due to store closures, weak retail traffic in the U.S., and other factors.
Axiall — South Korean firm Lotte Chemical is bidding for U.S. chemicals maker Axiall in a deal the Financial Times estimates to be worth $3.1 billion.
Tribune Publishing – Gannett said in a statement Tuesday it continues to believe the Tribune board should engage constructively with Gannett in negotiating a merger agreement. The USA Today publisher has offered to acquire Tribune for $15.00 a share.
Valeant Pharmaceuticals — The heavily scrutinized pharmaceutical company posted a net loss of $1.08 a share in the first quarter and adjusted earnings of $1.27 a share, 11 cents a share below estimates. Revenue was a touch below forecasts at $2.37 billion, while Valeant gave full-year guidance that fell well below expectations. Shares plunged nearly 17 percent in premarket trading.
Sarepta Therapeutics — The company said the U.S. Food and Drug Administration has requested additional data for an ongoing study of a muscle-wasting treatment, whose official approval is still pending. After the announcement, analysts at Wedbush Securities upgraded the stock to "outperform" from "neutral," and raised its price target to $36 from $14. Shares of Sarepta soared more than 35 percent in premarket trading.
United Natural Foods — The food distributor reported fiscal third-quarter earnings of 76 cents a share, 10 cents a share above Reuters estimates. Revenue of $2.13 billion slightly missed estimates. Full-year guidance on earnings and revenue both topped expectations, however. Shares were up about 10 percent in premarket trading.
Zillow — Barclays upgraded the stock to "equal weight" from "underweight" after the online real estate database announced it settled its lawsuit with Move for just $130 million versus Barclays' expected $500 million and well below the $2 billion Move originally sought. Barclays also raised its price target to $32 a share from $20, citing improvement in fundamentals.
GoDaddy — Citi downgraded the stock to "neutral" from "buy" citing valuation, citing expectations of near-term slowdown in margin expansion and growth.
Biogen — The biotech company reported disappointing results in its mid-stage study for an experimental multiple sclerosis drug treatment.
— Reuters contributed to this report.