Morgan Stanley, United Airlines and Trump Media Rise Premarket; ASML falls From Investing.com

Investing.com – U.S. stocks traded flat on Wednesday, stabilizing after last season’s tech-related losses, as quarterly corporate profits continued to rise.

Here are some of today’s biggest premarket US stock movers

• Morgan Stanley (NYSE:) shares rose 2.3% after the major banking company’s third-quarter profit rose, driven by a rebound in deals that also benefited its rivals.

• Nvidia (NASDAQ:) shares rose 0.7%, with the chipmaker recovering after plunging nearly 5% in the previous session following news that the Biden administration is considering curbing AI chip exports to limit US companies.

• Abbott Laboratories (NYSE:) shares rose 0.2% after the company slightly raised its annual profit forecast after beating Wall Street estimates for quarterly profit on strong sales of its medical devices, including its glucose monitoring products.

• ASML (AS:) ADRs fell 3.5%, extending 16% losses in the previous session, after the world’s largest chipmaking equipment maker cut its forecast for next year and reported third-quarter orders that were almost accounted for half of the forecast.

• United Airlines (NASDAQ:) shares rose 1.3% after the airline reported better-than-expected third-quarter earnings and announced a new $1.5 billion share repurchase program.

• Trump Media & Technology (NASDAQ:) shares rose 5.9%, rebounding after falling nearly 10% the previous session in the second-strongest trading session since the Truth Social platform debuted on Wall Street in March.

• Cisco (NASDAQ:) shares rose 1.9% after Citigroup upgraded its stance on the networking equipment maker to “buy” from “neutral,” citing greater potential impact from its artificial intelligence activities.

• Qualcomm (NASDAQ:) shares fell 0.2% after Citi analysts put the company on a negative catalyst watch, citing weaker mobile phone demand and other headwinds.

• Interactive brokers (NASDAQ:) shares fell 2.9% after the automated global electronic broker missed expectations for third-quarter adjusted earnings despite reporting a rise in revenue.

• Novocure (NASDAQ:) shares rose 21% after announcing that the FDA approved the drugmaker’s Optune Lua, a wearable device to treat certain types of lung cancer.

• JB Hunt (NASDAQ:) shares rose 7.5% after the trucking company reported better-than-expected third-quarter profit, helped by improving volumes in its largest segment, intermodal.