Check out the companies making headlines before the bell:
General Mills — The food company reported adjusted quarterly profit of 83 cents per share, beating the consensus estimate of 69 cents a share. Revenue was slightly above forecasts and General Mills issued an improved full-year outlook.
Nexstar — Nexstar will sell a total of 19 TV stations for $1.32 billion, 11 to Tegna and eight to Scripps. The divestitures follow the acquisition of Tribune Media by Nexstar, which said it is in talks to sell two more stations in Indianapolis.
Alphabet — The European Union fined Google $1.7 billion for abusing the dominance of its search engine, in the last of three cases against the Alphabet unit. Google will not have to take any actions related to the fine because it has already changed the practices that resulted in the original charges.
FedEx — FedEx reported adjusted quarterly profit of $3.03 per share, missing consensus estimates by 8 cents a share. Revenue fell below forecasts as well, and FedEx also cut its full-year outlook for the second quarter in a row, citing a slowing global economy.
Tencent Music — Tencent Music issued its first earnings report as a public company, with the Chinese music streaming company beating Wall Street estimates on both the top and bottom lines. Shares are being pressured, however, by concerns over the company's soaring license and content production costs.
Johnson & Johnson, Sientra — The two companies received Food and Drug Administration (FDA) warning letters saying the companies had not complied with post-approval study requirements for their breast implant products. The FDA said failure to correct the violations could result in withdrawal of approval.
Sony — Jefferies downgraded the stock to "hold" from "buy," two months after removing Sony's designation as a "top pick." Jefferies expresses concerns about a peak in game profits and Sony's inability to exit the smartphone business.
Steelcase — Steelcase reported adjusted quarterly profit of 29 cents per share, beating consensus estimates by 2 cents a share. The office furniture maker's revenue came in above Wall Street forecasts, helped in part by higher prices.
Monster Beverage — Monster Beverage was downgraded to "neutral" from "buy" at Goldman Sachs, which also removed the energy drink maker's stock from its "Conviction Buy" list. Goldman thinks the company's near-term U.S. sales could be softer than expected.
Dollar Tree — Dollar Tree was upgraded to "outperform" from "market perform" at Telsey Advisory Group following a meeting with management. Telsey said the meeting provided clarity on the discount retailer's plans to improve its results.
Smartsheet — Smartsheet reported an adjusted quarterly loss of 7 cents per share, smaller than the 14 cents a share loss expected by analysts. The cloud software company's revenue was above estimates, although it is forecasting a larger-than-expected loss for the current quarter and the full year.
—CNBC's Yun Li contributed to this report.