DSW –The shoe retailer missed estimates by six cents with first quarter profit of 42 cents per share, with revenue also falling short. The company cited both bad weather and aggressive promotions.

Michael Kors –The luxury goods retailer earned 78 cents per share for its fourth quarter, beating estimates by ten cents, and its revenue was also well above expectations as same store sales rose more than 26 percent. The company also gave an upbeat outlook for the full year.

Allergan – Valeant Pharmaceuticals has improved its takeover bid for Allergan, adding $10 per share to the cash portion, and adding a contingent value right that it said could be worth up to $25 per share. Separately, Valeant sold the rights to several of its skincare products to Nestle for $1.4 billion in cash.

Check out which companies are making headlines before the bell:

Cracker Barrel–The restaurant chain reported fiscal third quarter profit of $1.23 per share, one cent above estimates, with revenue essentially in line. Cracker Barrel cut estimates for the year, although its same-store sales decline of 0.6 percent from the quarter is not as large as those experienced by some of its competitors.

Workday—The maker of human resources software posted a first quarter loss of 13 cents per share, two cents smaller than expected. Revenue exceeded forecasts, and the company also raised its sales outlook for the full year on higher demand.

Twitter—Nomura Securities upgraded Twitter to "buy" from "neutral," saying this year's drop in the stock price has resulted in a much more favorable risk/reward ratio. The firm now sees the possibility of product enhancements that could spur user growth and revenue per user.

PetroLogistics–The propylene producer will be acquired by Koch Industries subsidiary Flint Hills Resources for $14 per share in cash, with the exception of shares held by CEO Lindsay Goldberg, which will be bought for $12 per share.

General Electric–GE has put forth an improved offer for France's Alstom, according to an official in the office of French President Francois Hollande. Sources say GE is now pledging to create 1,000 new French jobs over the next three years.

Toll Brothers–The luxury home builder reported fiscal second quarter profit of 35 cents per share, eight cents above estimates, with revenue exceeding forecasts as well. Toll was able to sell more homes at higher prices compared to a year earlier.

Williams-Sonoma–The housewares retailer's shares were upgraded to "overweight" from "neutral" at Piper Jaffray based on new "tech-savvy initiatives" as well as best-in-class customer service.

3D Systems–3D announced a public offering of nearly six million shares, a move that will increase the 3D printer maker's outstanding shares by 5.8 percent. The company plans to use the proceeds for future acquisitions and for working capital.

GlaxoSmithKline–The company is the target of a criminal investigation by Britain's Serious Fraud Office. Neither the office nor the drug maker is giving any further details, although Glaxo is already fighting off claims of bribery in China and elsewhere.

Seadrill–Seadrill gave a pessimistic outlook for the global oil drilling market, and also expects charter rates for rigs to fall. That outlook could impact other oil driller stocks as well, such as Baker Hughes, Schlumberger, Transocean, and Halliburton.

Microsoft–The software giant has unveiled a real-time translator for its Skype communication service. That took place at the Code Conference in California, where CEO Satya Nadella also said Microsoft had no intention of selling its Bing search service to Yahoo.

Google–The search giant is planning to build up to 200 prototype driverless cars over the next few years, according to Google co-founder Sergey Brin. He made his remarks in an appearance at the Code Conference.

Apple–Apple may announce its this week, according to the New York Post. The paper said, however, that the deal may only be for $3 billion rather than the $3.2 billion that's been widely reported.

Sanofi, Eli Lilly–The two drug companies will seek regulatory approval to sell the erectile dysfunction drug Cialis over the counter. The drug is currently only available by prescription.

—By CNBC's Peter Schacknow

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