Check out the companies making headlines before the market opens. Cisco Systems — The Internet technology stock rose nearly 2% after Citi upgraded the stock to “buy” from “neutral.” Citi said that over time, artificial intelligence will become an important part of the business. Novocure — Shares of Novocure soared about 22% after the U.S. Food and Drug Administration approved its Optune Lua wearable therapy for the treatment of metastatic non-small cell lung cancer. Morgan Stanley – Shares of Morgan Stanley rose more than 3% after the bank reported quarterly results that beat Wall Street forecasts before the bell, driven by higher-than-expected revenue from its wealth management, trading and investment banking businesses. The company’s earnings per share were $1.88, compared with the $1.58 expected by analysts polled by LSEG. Revenue was $15.38 billion, compared with the consensus estimate of $14.41 billion. United Airlines — Shares rose about 1% after the airline beat third-quarter profit and revenue estimates. United Airlines also announced a $1.5 billion stock buyback, its first since before the outbreak. ASML — Shares of the Dutch chip equipment company fell 4% before the close, deepening losses on Tuesday after the company unexpectedly reported third-quarter results a day early. The report was disappointing as ASML cut its sales forecast for 2025, showing weakness in the market outside of artificial intelligence application services. JB Hunt Transport Services — Shares of JB Hunt Transport Services rose more than 7% after the company’s third-quarter results beat expectations. JB Hunt reported earnings of $1.49 per share on revenue of $3.07 billion. Analysts polled by London Stock Exchange Group (LSEG) expected earnings of $1.41 per share on revenue of $3.02 billion. The company said demand for its intermodal services rose throughout the quarter. —CNBC’s Sean Conlon, Alex Harring, Sarah Min, Michelle Fox and Hakyung Kim contributed reporting.
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