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Check out which companies are making headlines before the bell:

Stanley Black & Decker — The company announced it is buying Newell Brands' tools business for $1.95 billion in cash and debt. The transaction is expected to close in the first half of 2017, Stanley Black & Decker said.

Fortinet — The cybersecurity firm's stock plunged more than 15 percent in the premarket trading after reporting poor preliminary third-quarter results. Fortinet said it sees adjusted quarterly profits between 15 cents and 16 cents per share, below a Reuters consensus estimate of 18 cents a share. The company also slashed its billings guidance for the quarter to a range of $343 million to $348 million from $372 million to $376 million.

LPL Financial — The largest independent broker-dealer firm in the U.S. is working with Goldman Sachs to explore strategic alternatives, including a possible sale, according to Reuters, citing sources. The report sent LPL's shares higher on Tuesday, closing up 6.86 percent. In a statement, LPL said: "As a matter of policy, LPL does not comment on rumors or speculation."

Barracuda Networks — Barracuda's shares soared more than 10 percent in premarket trading after the company reported quarterly results that beat Wall Street estimates. The company posted profits of 21 cents per share on revenue of $88 million. Gross billings came in at $100 million, also above consensus.

Ericsson — Ericsson's U.S.-listed shares dropped more than 15 percent before the bell after the Sweden-based firm issued a profit warning. The firm said in a statement its third quarter results will be "significantly lower" than it previously expected, citing weak mobile broadband demand, "especially in markets with weak macro-economic environment."

Twitter — The social media firm and are still discussing a possible deal, sources told CNBC. Last week, Salesforce CEO Marc Benioff told CNBC the social media platform has challenges and called Twitter CEO Jack Dorsey a "good friend."

Wal-Mart — The retail giant raised salaries for its entry-level managers before a rule change that extends mandatory overtime pay for millions of workers in the U.S.

Lam Research, Nanometrics — Pacific Crest downgraded both Lam Research and Nanometrics' stocks to "sector weight" from "overweight, saying they may "stall if 3D NAND spending peaks in 2017. We do not see immediate risk of a sector rollover, but we believe that stock appreciation should be limited from here."

Delta Air Lines — Richard Anderson is stepping down from his role as Delta executive chairman. Anderson also served as Delta's CEO from 2007 to last May. Frank Blake, Home Depot's former CEO, has been named Delta's non-executive chairman.

Sprint — Sprint said it plans to raise $3.5 billion by mortgaging approximately 14 percent of its wireless airwaves.

— CNBC's Berkley Lovelace Jr. contributed to this report.