Check out which companies are making headlines before the bell:
Walgreens Boots Alliance — The drugstore operator earned an adjusted $1.18 per share for its latest quarter, four cents a share above estimates. Revenue was short of forecasts. Walgreens was helped in part by increasing sales of drugs paid for by Medicare Part D. The company also raised the bottom end of its fiscal 2016 earnings forecast.
Medivation — Medivation rejected Sanofi's improved $58 per share takeover bid, but has signed confidentiality agreements with Sanofi and other unnamed parties. That could lead to a takeover offer from one of those possible bidders.
Tesla — The automaker told U.S. regulators about a fatal accident involving the use of its autopilot feature nine days after the crash. Tesla said it learned about the May 7 crash shortly after it occurred, and disclosed it to the government on May 16. The National Highway Safety Administration is currently conducting an investigation into the incident.
Chipotle Mexican Grill — Chipotle executive Mark Crumpacker surrendered to police in New York and was arraigned on charges of cocaine possession. Crumpacker is the restaurant chain's chief creative and development officer.
Apple — Apple will eliminate the 16GB storage option in its next iPhone, according to published reports, making 32GB the entry level storage option. That report has also helped shares of chipmaker Apple supplier Qorvo.
Royal Bank of Scotland, Deutsche Bank, and UBS — These are among U.K. banking stocks under pressure this morning and weighing on European averages, as worries about the effects of the Brexit vote resurface.
Juniper Networks — Juniper was downgraded to "hold" from "buy" at Deutsche Bank, which thinks the networking equipment maker profit margins — especially in its routing business — will come under pressure.
Netflix — Netflix was downgraded to "underperform" from "hold" at Jefferies, following a five-day win streak for the stock. Its Tuesday rise was helped by news that Comcast would incorporate Netflix service into its X1 set top cable boxes. (Disclosure: Comcast is parent of NBCUniversal and CNBC.)
Fiat Chrysler — Barclays downgraded the automaker's stock to "underweight" form "overweight," and cut the price target by nearly half.