Stock Market Today: Live Updates

Check out the companies making headlines before the bell.

Cisco Systems — The networking technology stock rose nearly 2% after Citi was upgraded to buy from neutral. Citi said artificial intelligence could become a bigger part of its business over time. Novocure — Shares soared about 22% after the U.S. Food and Drug Administration approved Novocure’s Optune Lua wearable treatment for metastatic non-small cell lung cancer. Morgan Stanley — Shares rose further after the bank reported quarterly results before the bell that beat Wall Street expectations, helped by better-than-expected earnings from wealth management, trading and investment banking. Ta. The company’s earnings per share were $1.88, compared to the LSEG analyst survey’s estimate of $1.58. Revenue came in at $15.38 billion, compared to the consensus estimate of $14.41 billion.

Read here for the complete list.

— Peer Singh

The Labor Department reported Wednesday that prices of goods imported into the United States fell more than expected, primarily due to lower oil prices.

Import prices fell 0.4% from the same month, exceeding the 0.2% drop in August and the Dow Jones Industrial Average’s forecast of -0.3%. Export prices also fell, falling 0.7% in the previous month after falling 0.9% in August.

Imported fuel prices fell 7% in the month, further exceeding the 2.9% drop in August. Import prices excluding fuel actually rose by 0.1% in September, the third straight month of increases. Meanwhile, prices of imported food, feed and beverages also fell by 1.5%.

— Jeff Cox

HSBC said in a note Wednesday that it went against consensus predicting a near-term rally in the stock market.

Strategist Max Kettner said investors are bullish on the coming quarters, but most are cautious in the short term due to seasonality and uncertainty surrounding the U.S. presidential election.

“Thus, we think the market may be positioning in the wrong order. We see lower short-term U.S. earnings expectations pushing stocks further up. “We’re starting to move because people are going to be increasingly skeptical about large rallies after the election,” he added. “Our view continues to be the opposite of the current apparent consensus. In short, we should do the opposite of what worked in the third quarter.”

— Lisa Kailai Han

Piper Sandler begins interview walt disney Wednesday’s rating of Neutral and price target of $95 imply an upside of less than 1% from Tuesday’s closing price.

The company believes that the upside to forecasts is limited, mainly due to moderation in Disney’s experience segment.

“Specifically, we believe the consumer-related downturn in our parks business will likely continue for several more quarters, and we do not expect significant upside as this experience accounts for approximately 40% of the segment’s operating income. ” analyst Matt Farrell wrote in a note. .

He also pointed to the company’s low profitability and legacy linear TV assets as additional factors weighing on the stock.

“Despite short-term headwinds, we believe in Disney’s flywheel and the industry’s unique collection of assets, especially after the success of recent films,” Farrell said.

Disney stock has increased 4% since the beginning of the year.

— Michelle Fox

shares of morgan stanley Shares rose 3% in premarket trading Wednesday after the bank beat analyst estimates for both third-quarter profit and revenue.

Morgan Stanley posted earnings of $1.88 per share on revenue of $15.38 billion. That beat Wall Street’s expectations for earnings of $1.58 a share on sales of $14.41 billion.

Banks follow peers such as: JP Morgan Chase, goldman sachs and citygrouphas already been reported and also exceeded expectations.

Stock prices could rise further as fundamentals improve NetflixAccording to Loop Capital.

Analyst Alan Gould raised his price target on the streaming company to $800 per share from $750, citing the company’s dominance in the sector. The new target reflects a 13% upside from Tuesday’s close.

Indeed, Gould said, the stock is up 45%, outperforming the S&P 500, and looks expensive at 30 times 2025 EPS estimates.

“However, NFLX’s dominant position in the streaming business continues to grow,” he wrote. “We expect further consolidation of traditional studios and more reasonable pricing, which should lead to a more profitable industry environment.”

Gould also raised his third-quarter subscriber and revenue forecasts to reflect strong viewing trends. He also expects the standard tier price may increase ahead of the full content release, including Squid Games 2, in December. Looking ahead, he expects double-digit revenue growth and 20% compound EPS growth over the next five years.

“Advances in the advertising tier have been slower than initially expected, but given NFLX’s viewership and expectations for increased sports programming, we are confident that NFLX will be a significant contributor over the next few years.” said.

— Samantha Subin

Despite short-term headwinds, Morgan Stanley starbucks Even after 2026.

Given this outlook, analyst Brian Haber raised his price target for the company from $98 to $115 per share, reflecting a 21% increase from Tuesday’s closing price.

“A sustained growth story with industry-leading scale, (near-term) headwinds make for an attractive entry,” he wrote.

Starbucks stock has struggled in recent years, falling more than 3% in 2023 and more than 1% since the beginning of the year. The company faces a slow recovery in China’s economy, declining same-store sales and a weak product pipeline. But former Chipotle Mexican Grill CEO Brian Nicol took over the reins of the company last month, giving investors more bullish on the new CEO.

While the company may hold back on its offer, Haber sees the company’s upcoming fourth-quarter results as a potential “reset” opportunity. Nicol’s comments, management changes and reports of lower discount rates also provide early foreshadowing of future changes, he wrote.

“Early signs are important as to what’s going to happen,” he said. “With a variety of possible outcomes, we’re going to stay below 25 years, but we’re going to stick with multi-year opportunities.” spoke.

— Samantha Subin

Europe’s main stock exchanges fell broadly on Wednesday, with semiconductor stocks and luxury goods among the worst-performing sectors following sales warnings.

pan-european Stocks 600 European semiconductor stocks were the index’s worst laggards, with the index down 0.4% by mid-morning local time after Dutch semiconductor equipment maker ASML released disappointing sales forecasts late Tuesday. did.

European luxury stocks were also among the index’s worst performers after LVMH, the luxury goods group that owns Louis Vuitton, Moët Hennessy and a variety of other luxury brands, saw sales decline in the third quarter. It became one of the

of UK FTSE100 The Office for National Statistics said the UK’s latest figures showed inflation fell sharply in September to 1.7%, an outlier in European markets with a 0.6% rise. Ta.

The sharp fall from the 2.2% seen in August has raised hopes that the Bank of England will cut interest rates in November.

— Holly Ellyatt

the name city JB Hunt Transport Service He was appointed to the top position following a strong report in the third quarter.

Analyst Ariel Rosa said: “Most encouraging is management’s view that interest rates are likely to rise. This is an argument that is central to our sector theory, and JBHT is one of our top He is one of the leading candidates.”

He raised his target for the company to $204 per share from $201, reflecting a 17% increase from Tuesday’s closing price. The stock price has fallen 12.6% since the beginning of 2024.

Shares soared 7% early after quarterly results released after Monday’s sales and bottom line beat expectations. Freight carriers also showed strong demand for intermodal transportation services over the same period, increasing more than 5% year over year.

The paper “allays the worst concerns” that J.B. Hunt is overextending its production capacity, but Rosa declined to update his fourth-quarter EPS forecast.

“While we acknowledge that JBHT had a relatively strong quarter, we are hesitant to significantly raise our expectations given the advance in volumes for the third quarter,” he said.

— Samantha Subin

Outlook for 2025 downgraded to disappointing ASML Holding Bank of America is leading the way in updating the semiconductor manufacturing equipment company’s price target.

Analyst Didier Chemama lowered his price target for the U.S.-listed stock to $939 from $1,149, reflecting 29% from Tuesday’s closing price. The stock was down more than 4% before the bell and looked poised to extend its year-to-date loss of 3.5%.

ASML’s stock price fell 16% on Tuesday after the company announced lower-than-expected sales forecasts in its third-quarter results a day earlier. The company said it is seeing a “more gradual” recovery in areas other than AI, such as China.

“Multiple boosts will lead to a major reset in 2025,” Scemama wrote, adding that attention is now focused on a recovery that is expected to deliver 20% revenue growth in 2026.

He called the report a “sobering update” and lowered his EPS and revenue forecasts for 2025 and 2026.

— Samantha Subin

SINGAPORE — Asia-Pacific markets fell on Wednesday as investors awaited a high-level press conference by China’s housing authority on Thursday.

Mainland China’s CSI300 index fell 0.63% to close at 3,831.59. Hong Kong’s Hang Seng Index rose 0.3% during volatile trading.

australian S&P/ASX 200 It fell 0.41% to 8,284.7. Japanese Nikkei Stock Average It fell 1.83% to close at 39,180.3.

The Taiwan-weighted index fell 1.21% to end at 23,010.98, dragged down by declines in the technology sector.

South Korea’s Kospi fell 0.88% to end at 2,610.36, while the small-cap Kosdaq fell 1.04% to 765.79.

— Anique Bao

united airlines announced a new share repurchase program as part of its third quarter report. The $1.5 billion plan would be the first time the airline has bought back its own stock since before the coronavirus pandemic.

United Airlines also beat earnings estimates for the quarter, reporting adjusted earnings per share of $3.33. Analyst estimates compiled by LSEG were $3.17.

Still, the company’s shares fell slightly in after-hours trading. Click here for other after-hours moving companies.

— Jesse Pound

of Nasdaq 100 It fell 1.37% on Tuesday, making semiconductors one of the biggest contributors to the index’s decline.

Stock futures were only slightly volatile as trading opened at 6 p.m. in New York. All three major contracts were within 0.1% of the flat line.

— Jesse Pound