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Early movers: TIF, MYL, RIG, NFLX, SDRL, HPQ, WSM & more

Traders work on the floor of the New York Stock Exchange.
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Traders work on the floor of the New York Stock Exchange.

Check out which companies are making headlines before the bell:

Mylan — Mylan's stock rose in the premarket after the firm announced a series of steps to cut costs for EpiPen, a drug used to treat allergies. The company is reducing the cost of EpiPens through the use of a savings card which will cover up to $300 for the EpiPen 2-Pak.

Medtronic —The medical device maker reported quarterly earnings that beat expectations by 2 cents, while revenues came in below expectations, with sales for its heart, vascular and minimally-invasive products falling.

Tiffany — Tiffany posted mixed quarterly results, with earnings per share easily beating consensus while sales missed, as its same-store sales around the world fell more than expected. The luxury jeweler's stock rose more than 4 percent in the premarket.

Transocean — Citi upgraded Transocean's stock to "neutral" from "sell" and raised its price target to $11. "The company has exceeded our expectation for cost reductions while the backlog is superior to peers," Citi said in a note to clients.

Dollar General, Dollar Tree — Dollar General and Dollar Tree shares dropped more than 7 percent in the premarket after their quarterly results came in below estimates. Their same-store sales, a key metric for retailers, rose 0.7 percent and 1.2 percent last quarter, respectively, both well below expectations.

Netflix — William Blair upgraded the streaming giant's shares to "outperform" from "market perform," citing a strong risk/reward ratio. "Our 2020 subscriber base case results in a potential value per share near $145. Our bear case implies a $110 overall valuation, and our bull case pegs the price at $185," the analyst firm said.

Seadrill — Seadrill shares rose more than 4 percent in the premarket after reporting stronger-than-expected quarterly results. The drilling firm, which has been hit hard over the past two years amid falling oil prices, said the market may be stabilizing. "Oil prices stabilized in the $40-50 range during the quarter and there is a growing belief that we are at or near the bottom of this downcycle," Seadrill said in a statement.

HP Inc. — The company posted stronger-than-expected quarterly results, but its estimates for current-quarter profits came in below expectations, reflecting weak demand for printers.

Williams-Sonoma — Williams-Sonoma reported weaker-than-expected same-store sales for the second quarter, as well as weak third-quarter guidance. CEO Laura Alber said "he overall retail environment has softened and we are being impacted by a more cautious consumer. As a result, we have revised our outlook for the remainder of the year to reflect this change in trend."