Welcome to Extreme Investor Network, where we provide you with the latest news and updates on the companies making headlines in the world of finance. Today, we take a look at some of the top movers in midday trading:
Novavax – Shares of the biotech company plunged more than 17% after the U.S. Food and Drug Administration put a clinical hold on its application for a Covid and influenza combination shot. This setback comes as a blow to Novavax, but the company remains optimistic about its future prospects.
United Airlines – The airline’s stock soared 11% after reporting an earnings and revenue beat for the third quarter, as well as providing strong guidance for the fourth quarter. In addition, United announced a $1.5 billion share buyback, signaling confidence in its financial outlook.
Morgan Stanley – Shares of the bank popped 7% after reporting quarterly results that exceeded Wall Street’s expectations. The strong performance was driven by higher profits from its wealth management, trading, and investment banking divisions. This positive news bodes well for Morgan Stanley’s shareholders.
Cisco Systems – The technology networking stock saw a 3.3% increase to a 52-week high following a Citi upgrade to buy from neutral. Citi’s upgrade was based on the potential growth of artificial intelligence within Cisco’s business, highlighting a promising future for the company.
These are just a few of the companies making waves in midday trading. Stay tuned to Extreme Investor Network for more updates and analysis on the latest trends in the world of finance. Join us as we navigate the exciting world of investing together.