Check out which companies are making headlines before the bell:
Citrix — The cloud computing company is making one last attempt at selling itself as a whole before selling its individual assets, Reuters reported, citing people familiar with the situation. The stock was up nearly 3 percent in the premarket.
Intel — Bernstein upgraded the blue chip component from "underperform" to "market perform," citing signals of a better outlook for the PC market.
Cisco Systems — Cisco is planning to announce a partnership with Chinese server maker Inspur Group during President Xi Jinping's visit to the U.S., The Wall Street Journal reported. The partnership is aimed at bolstering its business in China, the newspaper said. The stock was up slightly in the premarket.
Metlife — Metlife said it has increased its stock buyback program to $1 billion. The decision came as it the company awaited capital rules for federally regulated life insurers.
Facebook — Facebook's Instagram announced its number of users topped 400 million, representing a 100 million increase from December. Shares of the social media giant were up slightly in the premarket.
J.C. Penney — The company said Wednesday it is replacing current Chief Merchant Elizabeth Sweney with John Tighe starting on Oct. 1. Sweney has held the job since 2012 and Tighe has been working with the company since 2002. J.C. Penney shares were up slightly before the bell.
Nestle — The global food giant signed a deal with AC immune, a Swiss biotech company, to develop an Alzheimer's disease diagnostic test, according to Reuters.
Biomed Realty — The real estate investment trust's stock surged nearly 10 percent in the premarket after multiple reports surfaced, suggesting it is in talks to sell itself, and has attracted interest from BlackStone Group.