Check out which companies are making headlines before the bell:
Valeant Pharmaceuticals — The drugmaker reported adjusted quarterly profit of $1.55 per share, missing estimates of $1.75 a share. Revenue came in below estimates, as well, and Valeant also cut its full-year forecast. CEO Joseph Papa did say the company is making progress with its ongoing restructuring of operations.
Tesla — Tesla announced a deal to buy German engineering firm Grohmann for an undisclosed amount, in a move the automaker said would further its push into high-volume manufacturing.
CVS Health — The drugstore operator earned an adjusted $1.64 per share for its latest quarter, seven cents a share above estimates. The company's revenue fell short of estimates, however, and it cut its full-year forecast. CVS said it was seeing slowing prescription growth as well as a soft seasonal business. Separately, CVS announced a new $15 billion stock buyback program.
DR Horton — The homebuilder fell two cents a share short of estimates, with quarterly earnings of 75 cents per share. Revenue also came in slightly below forecasts. Its results were impacted by a jump in cancellations. DR Horton also announced a 25 percent quarterly dividend increase to 10 cents per share.
Wayfair — The online home furnishings retailer lost 54 cents per share for its latest quarter, smaller than the 60 cent loss that analysts were expecting. Revenue came in above forecasts. Wayfair said it gained significant market share during the quarter and remains optimistic about its long-term profit potential.
Xerox — The company's board approved the terms of Xerox's upcoming split into two separate companies, and expects to complete the split by December 31. Xerox shareholders will get one share of the new company known as Conduent for every five Xerox shares they now hold.
Goldman Sachs — Citi downgraded Goldman to "neutral" from "buy," in a call based on valuation relative to earnings expectations.
Bank of America — Deutsche Bank downgraded the stock to "hold" from "buy," noting the strong performance of the stock from 2016 lows and what it sees as modest additional upside potential.
Anheuser-Busch InBev — The beer brewer has gotten at least six bids for brands that it is selling, according to Reuters. Among the reported bidders: Japan's Asahi Group, and private-equity firms Bain Capital and Kohlberg Kravis Roberts.
SeaWorld — The theme park operator posted quarterly profit of 77 cents per share, well short of the $1.08 a share expected by analysts. Revenue did beat estimates, but the bottom line was impacted by a 20 percent jump in overhead costs.
Best Buy — Evercore cut its rating on the electronics retailer to "sell," based on valuation as well as a saturated smartphone market and a shift in high end TVs toward discounters and online sellers.
Priceline Group — Priceline reported adjusted quarterly profit of $31.18 per share, beating estimates of $29.91 a share. The travel services company also saw revenue beat forecasts, as well as the number of bookings, but its current-quarter guidance falls below consensus estimates. It also announced a $941 million write-down related to its OpenTable service.
News Corp. — News Corp. lost an adjusted one cent per share for its latest quarter, slightly worse than the breakeven quarter analysts had expected. The media company's revenue came in very slightly ahead of estimates, but its results were hurt by a tough print ad market, as well as foreign currency issues.
Marriott — Marriott came in three cents a share ahead of estimates with adjusted quarterly profit of 91 cents per share, but the hotel operator's revenue came in below forecasts. Its overall profit was hurt by costs related to its now-completed acquisition of rival Starwood.
Hertz — Hertz reported quarterly profit of $1.58 per share, substantially below estimates of $2.73 a share. Revenue also missed forecasts. The car rental company cut its outlook for the year, as well, as car-rental levels continue to be weak. Rival Avis Budget's shares fell in sympathy following Hertz's quarterly report.
Align Technology — The maker of the Invisalign dental brace system reported quarterly profit of 63 cents per share, beating estimates by 11 cents a share. Revenue also beat forecasts on a surge in Invisalign case volume. Separately, Align announced the retirement of Chief Financial Officer David White, who will be replaced by former NBCUniversal executive John Morici. (Disclosure: NBCUniversal is parent of CNBC.)
FedEx — FedEx temporarily grounded one of its jets after General Electric warned airlines about a possible problem with one of its engines. The FedEx jet contains the engine that GE identified.
Mylan — Mylan would be the subject of an antitrust probe over its EpiPen product if a Senate panel gets its way. The Judiciary Committee is urging regulators to investigate whether Mylan broke the law by keeping schools from purchasing EpiPen competitors.
UPS — UPS is buying logistics company Marken for an undisclosed sum, expanding its move into medical deliveries.
Smith & Wesson — Smith & Wesson plans to ask shareholders to approve a change in its corporate name to American Outdoor Brands, however it plans to keep using the Smith & Wesson name for its handguns.
Arconic — Arconic won its first major supply deal since being spun off from Alcoa, a $1 billion contract with aircraft maker Airbus to supply aluminum products.
Toyota — Toyota reported a 36 percent decline in net profit for its fiscal second quarter, with the automaker's results hurt by a strong yen and weak U.S. sales. The results topped analysts' forecasts.
Dow Chemical, DuPont — Reuters reports that a group of state attorneys general have joined a federal antitrust probe into the planned merger between the two chemical companies.
Twitter — Twitter is considering offers to buy its Vine service, according to TechCrunch, despite having announced plans last month to shut down the short-form video service.