Check out the companies making headlines before the bell: IBM — The legacy tech stock was a bright spot in the broader sector selloff, rising more than 4% following an upgrade to overweight at JPMorgan . “Software continues to drive better recurring revenue, margins, profitability, and cash flow,” analysts at the bank said. Qualcomm — The semiconductor stock slid 6% after Bloomberg News, citing people familiar, reported that Qualcomm is in advanced talks to acquire AI software infrastructure company Modular in a deal valued at about $4 billion. Oracle — Oracle was not immune to the global tech selloff, with shares falling 2% after the software giant said in a regulatory filing that it cut 21,000 jobs, or almost 13% of its workforce , over the past year. Energy Fuels — Shares dipped nearly 1% after the global critical mineral company announced a definitive agreement to acquire VAC, an advanced magnetics company. Primoris Services — Shares of the specialty contractor and engineer firm tumbled 36% after the company lowered guidance on additional renewables cost overruns and delays, and announced the departure of its COO. — CNBC’s Fred Imbert contributed reporting
Post Comment