Early movers: BA, MAT, ANTM, BIIB, HRB, TM & more

Spencer Platt | Getty Images

Check out which companies are making headlines before the bell:

Boeing— The jet maker announced a restructuring of its defense, space, and security unit. It will divide those operations into smaller units and cut about 50 executive positions as part of the move. Those functions were responsible for nearly a third of Boeing's total 2016 revenue.

Mattel – The toy maker meets with Wall Street analysts Wednesday, with the focus on new CEO Margo Georgiadis and her strategy for the toy maker. One area of focus is whether Mattel will cut its dividend, with the Wall Street Journal pointing out that the company hasn't earned enough profit to cover its current payout in each of the past three years.

Anthem – The health insurer reaffirmed its prior forecast for 2017, saying it expected adjusted earnings for the year to top $11.60 per share. That compares to current consensus estimates of $11.78.

Biogen – Biogen announced that Chief Financial Officer Paul Clancy will leave on July 31 after 10 years. Clancy is leaving the biotech firm to join drug maker Alexion Pharmaceuticals, succeeding Dave Anderson as CFO at that company.

H&R Block – H&R Block reported quarterly profit of $3.76 per share, beating estimates of $3.53, with the tax preparation firm's revenue also slightly above forecasts. It also reported its first annual profit increase in three years, and announced a nine percent dividend increase to 24 cents per share.

Western Digital – The hard drive maker was not included in the Japanese government-led bid for Toshiba's semiconductor business, according to sources quoted by Reuters. The bid does include South Korea chipmaker SK Hynix, as jockeying for the unit continues with Toshiba seeking a minimum of $18 billion. Western Digital jointly operates Toshiba's primary chip plant.

BHP Billiton – BHP was called on to "upgrade" its board of directors by activist investor Elliott Management, ahead of the mining giant's selection of a new chairman this week. Elliott accused BHP of having an "entrenched" board that has approved "disastrous" acquisitions.

Toyota – Toyota President Akio Toyoda told the automaker's annual meeting that the company may consider acquisitions to obtain new automotive technologies.

Five Below – Five Below was downgraded to "sector weight" from "overweight" by KeyBanc, which said that sales of the popular fidget spinner toys may be slowing faster than expected at the discount retailer.

Walt Disney – Disney's "Cars 3" is expected to take the top spot at the North American movie box office this weekend, according to an LA Times article quoting pre-release audience surveys.

Starbucks – The coffee chain's stock was downgraded to "neutral" from "outperform" at Wedbush Securities, saying its channel checks indicate marginally weaker comparable sales compared to consensus forecasts.

Restaurant Brands International – Oppenheimer upgraded the parent of Burger King and Tim Hortons to "outperform", citing underappreciated earnings catalysts including the company's recent acquisition of Popeyes.

Nike – The European Commission has opened separate antitrust investigations into licensing and distribution practices by Nike, Comcast's Universal Studios unit, and Japan's Sanrio, the distributor of "Hello Kitty" products.

Disclosure: Comcast is the parent company of NBCUniversal.