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Check out which companies are making headlines before the bell:

Apple — Apple is a stock to watch today, ahead of its product event this afternoon at which it's widely expected that the company will release the iPhone 7.

Sony — Sony also has a product event today, at which it's expected to introduce an improved version of its PlayStation video game console.

Western Digital — The hard disk drive maker raised its current quarter earnings forecast to $1.00 to $1.05 per share, compared to the current consensus estimate of 90 cents a share. The company said the recent acquisition of SanDisk expanded its customer base and contributed to a more favorable product mix.

Tegna — The former Gannett digital business announced plans to spin off its Cars.com unit as a separate publicly traded company, and is also evaluating strategic alternatives for its CareeerBuilder business.

Southwest Airlines — The airline expects third quarter revenue per available seat mile to drop 3.5 percent to 4.5 percent, with about a half point of that drop resulting from July's computer system disruption.

HD Supply — The industrial distributor reported adjusted quarterly profit of 85 cents per share, missing estimates by 2 cents a share. Revenue was slightly below Street forecasts. HD Supply said it believes its sales growth rate is about one percentage point above overall growth in its target markets.

Dave & Buster's — The company reported quarterly profit of 50 cents per share, beating forecasts by 6 cents a share. The restaurant chain's revenue was also above forecasts. The company did cut its full-year forecast for comparable-store sales, but said that its combination of arcade games and sports viewing give it at least partial insulation from overall industry trends.

Advanced Micro Devices — AMD is planning a $600 million secondary share offering as well as a sale of $450 million in convertible debt. The chipmaker will use the proceeds to repay current debt.

Hormel — Hormel announced Chief Executive Officer Jeffrey Ettinger will retire on October 30, although he will continue as chairman of the food maker's board. President and chief operating officer James Snee will become CEO after Ettinger steps down.

Chipotle Mexican GrillBill Ackman's Pershing Square took a 9.9 percent stake in the restaurant chain, saying Chipotle stock is undervalued and that it plans to engage in discussions with the company's board. In a statement to CNBC, Chipotle said it welcomed Pershing's investment and appreciates the confidence expressed in its brand. Separately, Ackman left the board of Canadian Pacific after four years, one month after Pershing sold its remaining shares in the railroad operator.

BlackRock — The asset manager's funds will be allowed to lend money to other BlackRock funds in the event of any cash shortages, thanks to a new Securities and Exchange Commission ruling. Managers will be able to borrow up to 10 percent of their fund's assets without putting up assets as collateral.

Syngenta — Chief Financial Officer John Ramsay will retire from the agricultural chemical maker at the end of the month to pursue other interests. Syngenta's commercial finance chief, Mark Patrick, will succeed Ramsay.

Gap — A fire at Gap's distribution center in Fishkill, New York, last week was set intentionally, according to the New York State Police department. The apparel retailer issued a statement saying it will be able to resume some functions at the facility this week.

ConocoPhillips — The stock was upgraded to "hold" from "underperform" at Jefferies, which cited valuation after the energy producer aggressively cut both capital spending and expenses in the face of lower oil prices.

Caterpillar — The heavy equipment maker was rated "buy" in new coverage at Deutsche Bank, which said the market is not giving Caterpillar credit for its cost-cutting moves.