Check out the companies making headlines before the bell:
AutoZone – The auto parts retailer earned $22.59 per share for its latest quarter, beating the consensus estimate of $21.80 a share. Revenue also beat forecasts, and a same-store sales increase of 3% beat the 2.6% forecast of analysts surveyed by Refinitiv.
BlackBerry – The communications software provider reported a breakeven quarter on an adjusted basis, compared to expectations of a 1 cent per share loss, though revenue was below forecasts.
CarMax – The auto retailer came in 7 cents a share above estimates, with quarterly earnings of $1.40 per share. Revenue also beat Wall Street forecasts. Comparable sales were up 3.2%, shy of the 3.6% consensus estimate.
Blackstone – Oppenheimer lowered its rating on the private-equity firm's stock to "perform" from "outperform." The firm said Blackstone has the best business model in financial services, and has been recommending it for the past four years because it felt Blackstone was chronically undervalued. However, it no longer feels that way after a nearly 80% year-to-date gain.
IHS Markit – The financial information provider beat estimates by 4 cents a share, with adjusted quarterly profit of 67 cents per share. Revenue was shy of estimates. IHS said it expected adjusted full-year earnings to be at the higher end of its prior guidance. It also announced plans to initiate a dividend, and that it will sell its aerospace and defense business for about $470 million.
Starbucks – Starbucks won an appeal against a European Union demand to pay up to $33 million in back taxes to the Netherlands. The court said regulators were unable to show that the coffee retailer set below-market-rate prices for transfers between subsidiaries that had the effect of lowering its taxes.
Alphabet – Alphabet's Google unit won a European court fight over tougher "right to be forgotten" rules. Europe's top court ruled that Google does not have to remove links to sensitive personal data worldwide, as demanded by French authorities.
Anheuser-Busch InBev – The beer brewer raised about $5 billion in a Hong Kong initial public offering of its Asia-Pacific unit, after the deal was priced at the bottom of the expected range.
Facebook – Facebook announced the acquisition of start-up CTRL-labs for an undisclosed amount, although a source tells CNBC the deal is worth about $1 billion. CTRL-labs explores ways for people to communicate using brain signals.
Walt Disney – Disney said Disney Parks West president Catherine Powell is leaving the company after 15 years, with her position now being eliminated. Separately, Disney was rated "outperform" in new coverage at Wells Fargo Securities, with a price target of $173 per share. The firm said Disney is not just a media company, but a unique global consumer brand leader.
Tesla – Tesla CEO Elon Musk is accused in a lawsuit of urging investors to approve the purchase of SolarCity at a premium to its market value despite the automaker's cash crunch. Tesla bought SolarCity in 2016 for $2.6 billion.
Ralph Lauren – Ralph Lauren was upgraded to "overweight" from "neutral" at Atlantic Equities, which said valuation is at a level last seen during the 2009 recession despite the improved performance of the apparel maker.