Stocks making the biggest moves premarket: Morgan Stanley, Cisco, ASML and more
October 16, 2024 at 8:48 am - by Editor Prism MarketView
Take a closer look at the businesses grabbing the limelight before the market opens.
- This networking technology stock just gained almost 2% based on Citi’s promotion from neutral to buy. They believe artificial intelligence has the potential to take a larger role in the company’s future success.
- The company’s shares skyrocketed by approximately 22% following the approval of its Optune Lua wearable device for treating metastatic non-small cell lung cancer by the U.S. Food and Drug Administration.
- The bank’s shares escalated by over 3% after revealing quarterly results surpassing Wall Street predictions, thanks to unexpectedly high revenue from their wealth management, trading, and investment banking sectors. Earning reports were $1.88 per share, topping the LSEG analyst poll’s expectations of $1.58. The $15.38 billion revenue also beat the consensus estimate of $14.41 billion.
- The airline’s shares saw an increase of about 1% post their success in meeting earnings and revenue predictions for Q3. Additionally, United Airlines announced a revival of its share buyback initiative with a $1.5 billion commitment, a first since pre-pandemic times.
- The Dutch chip equipment firm witnessed a drop of 4% in share prices prior to market opening. This adds to the previous day’s losses following an inadvertent early release of its third-quarter results, which were underwhelming. ASML reduced its 2025 sales prediction, indicating potential stumbling blocks in markets not dedicated to AI applications.
- The company saw share prices surge by over 7% following third-quarter results exceeding expectations. The reported earnings were $1.49 per share on revenue of $3.07 billion, beating the LSEG forecast of $1.41 per share on revenue of $3.02 billion. The company noted an increasing demand for its intermodal service throughout the quarter.
