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Market Insider | What's Shaking | Earnings to Watch | Before the Bell

Check out which companies are making headlines before the bell on Tuesday:

Home Depot — The home improvement giant reported second quarter profit of $1.24 per share, beating estimates by three cents. Revenue was also above forecasts, and the home retailer also raised its sales and earnings estimates for the full year, reflecting the housing market's improvement.

Best Buy — The electronics retailer earned 32 cents per share for the second quarter, excluding certain items, beating estimates by 20 cents. Revenue also beat consensus, although the company does say second half results will be hurt by a number of factors including mobile warranty costs.

J.C. Penney — The retailer lost $1.17 per share for the second quarter, bigger than the $1.06 per share loss estimated by Thomson Reuters. Revenue was also below consensus, with Penney hurt by unusually high markdowns and failed prior merchandising and promotional strategies. Separately, Hayman Capital's Kyle Bass has taken a long position in the retailer's secured debt, according to Bloomberg.

Dick's Sporting Goods —The sporting goods retailer earned 71 cents per share for the second quarter, three cents shy of estimates. The company cites a "sluggish consumer environment" and bad weather as factors in its quarterly results.

Urban Outfitters — The company reported second quarter profit of 51 cents per share, three cents above estimates. The teen apparel retailer's results were helped by fewer discounts and higher profit margins, even though revenue was slightly below Street forecasts.

Nokia — Bernstein is predicting a "disastrous" September quarter for the handset maker, as it repeated an "underperform" rating. The firm said Nokia's reliance on newly launched high end models is a "risky bet".

Zynga — Jefferies began coverage of the online gaming company with a "sell" rating. Jefferies sees long term potential but said risks may come to the forefront sooner than new growth initiatives.

JPMorgan Chase —The Wall Street mega bank is the subject of a Justice Department investigation into energy market manipulation, according to Dow Jones. In July, the bank agreed to pay $410 million to settle similar allegations by the Federal Energy Regulatory Commission, although it did not admit to wrongdoing in that case.

BHP Billiton — BHP reported second half profit that missed analyst forecastsafter falling 15 percent from a year earlier, and its new CEO Andrew Mackenzie is also planning a less ambitious expansion into the potash market than previously planned.

Ann —The retailer's shares were upgraded to "buy" from "neutral" at Janney, which points to improved product offerings and an attractive valuation.

Tesla —The automaker's model S received the highest safety rating ever issued by the National Highway Traffic Safety Administration.

Southwest Airlines — The airline is being challenged in some of its markets by Allegiant Air, a smaller airline which has announced a new expansion into some East Coast markets served by Southwest.

Electronic Arts — EA tells Reuters it expects a boost from new gaming consoles being released by Sony and Microsoft later this year. Chief operating officer Peter Moore said the company sees growth even for physical boxed games, a segment that has generally declined as customers switch to online and mobile gaming.

AOL — The Internet portal has won dismissal of a lawsuit that accused both the company and some executives of fraud. The case stemmed from a share buyback, and the subsequent $1 billion sale of a patent portfolio to Microsoft that resulted in a 43 percent single-day surge in AOL's stock.

Apple —Apple has hired fitness industry consultant Jay Blahnik, according to All Things D. Blahnik was a key developer of Nike's FuelBand activity tracking device.

(Read More: See CNBC's Market Insider Blog)

—By CNBC's Peter Schacknow

Questions? Comments? Email us at marketinsider@cnbc.com

Correction: an earlier version of this story incorrectly stated the size of J.C. Penney's second quarter loss.