Check out the companies that made headlines before the bell: IBM — The legacy tech stock rose more than 4%, a bright spot amid broader sector declines, following JPMorgan’s upgrade to overweight. “The software continues to improve recurring revenue, margins, profitability and cash flow,” the bank’s analysts said. QUALCOMM — Semiconductor stocks fell 6% after Bloomberg News reported, citing people familiar with the matter, that Qualcomm is in talks to acquire AI software infrastructure company Modular in a deal valued at about $4 billion. Oracle — Oracle was unaffected by the global sell-off in technology stocks, with its stock falling 2% after the software giant said in a regulatory filing that it had cut 21,000 jobs, or nearly 13% of its workforce, over the past year. ENERGY FUEL — Shares fell nearly 1% after the global critical minerals company announced a definitive agreement to acquire advanced magnetics company VAC. Primoris Services — The specialist contractor and engineering firm fell 36% after lowering its guidance on additional renewable energy cost overruns and delays and announcing the resignation of its COO. Edgewell Personal Care — Shares rose more than 9% after Bloomberg News reported that the consumer products company rejected an unsolicited takeover offer from private equity firm Yellow Wood Partners for $30 a share, citing people familiar with the matter. The board considered the offer too low, according to the report. Avis Budget Group — Shares rose nearly 6% after the vehicle rental and mobility services company announced in a filing that it had reached a $650 million cash settlement with Pentwater Capital. — CNBC’s Fred Imbert contributed reporting
