Check out which companies are making headlines before the bell:
Tiffany – The luxury goods retailer reported adjusted quarterly profit of $1.45 per share, seven cents a share above estimates. Revenue also beat forecasts. Same-store sales were unchanged, better than the 0.9 percent decline predicted by analysts. Tiffany also gave an upbeat outlook for 2017.
Adobe Systems – Adobe reported adjusted quarterly profit of 94 cents per share, seven cents a share above estimates. The software maker's revenue also came in above forecasts, thanks to increasing demand for its Creative Cloud software suite. Adobe also gave a stronger-than-expected current-quarter forecast.
Caterpillar – Caterpillar hired former U.S. Attorney General William Barr as outside counsel to help in connection with an Internal Revenue Service probe of its import and export practices.
Valeant Pharmaceuticals — Hedge fund ValueAct Capital raised its stake in Valeant, a few days after Bill Ackman's Pershing Square sold off its Valeant stake. A Securities and Exchange Commission filing shows that ValueAct boosted its stake to 5.2 percent from 4.4 percent, although its holdings are only a fraction of what it once held in the company. ValueAct has owned varying amounts of Valeant shares since 2006.
Netflix – Netflix is rated "outperform" in new coverage at Bernstein, which said subscription video on demand is a vastly superior model for video entertainment and that Netflix is the "anchor" of this trend.
AstraZeneca – AstraZeneca said the Food and Drug Administration (FDA) had rejected its new drug designed to treat high potassium level. The drugmaker said the complete response letter from the FDA came after the inspection of a manufacturing facility, and that it is working with the FDA to resolve its concerns.
Apple – Apple is building two more new research and development centers in China, in addition to two it had announced previously. The four facilities are expected to open later this year.
Boeing – Boeing signed a $3.4 billion government contract for its Apache attack helicopters.
Citigroup – The bank issued a warning to customers about a phishing email that's been making the rounds among its customers.
Canada Goose – Canada Goose is on watch for a second day, after a mixed debut. The outerwear maker's stock finished its first day of trading at $16.08, well above the IPO price of $12.78 but well below its initial trade price of $18 per share.
Nokia — Nokia is splitting its Mobile Networks division in two as part of a structural change. One unit will retain the Mobile Networks name, the other will be called Global Services.
KKR – The private-equity firm is buying USI Insurance Services from Canada's Onex Corp. for $4.3 billion.
Texas Roadhouse – The restaurant chain's stock was upgraded to "buy" from "neutral" at BTIG, based on valuation and a belief in the company's growth prospects.