Stocks move premarket on earnings, deals and guidance updates

Several large U.S.listed companies moved sharply before the opening bell on Tuesday as investors reacted to analyst upgrades, acquisition talks, labor cuts, and business updates. IBM rose more than 4% after JPMorgan upgraded the stock to overweight, citing recurring revenue, margins, profitability, and cash flow driven by software. Qualcomm fell 6% after a report said it was in advanced talks to buy AI software infrastructure company Modular in a deal valued at about $4 billion. Oracle declined 2% after filing that it cut 21,000 jobs, or nearly 13% of its workforce, over the past year. Other notable moves included AMC Entertainment, which dropped 21% after announcing a share sale to institutional investors, and Primoris Services, which sank 36% after lowering guidance and reporting renewables cost overruns and delays. Energy Fuels edged lower after saying it would acquire VAC, while Edgewell Personal Care and Avis Budget Group gained after reports and filings tied to takeover interest and a cash settlement.