Here’s a look at the companies making headlines in midday trading: Novavax — Shares of Novavax plunged more than 17% after the biotech said the U.S. Food and Drug Administration was suspending clinical applications for its coronavirus and flu combination shot and a separate flu vaccine . United Airlines — Shares of United Airlines soared 11% after the airline reported better-than-expected third-quarter profit and revenue and forecast a strong fourth quarter. Separately, United said it would initiate a $1.5 billion stock buyback, its first since before the Covid-19 pandemic. Morgan Stanley – Shares of Morgan Stanley rose 7% after the bank reported quarterly results that beat Wall Street forecasts, driven by higher profits at its wealth management, trading and investment banking divisions. The company reported earnings of $1.88 per share, higher than the $1.58 expected by analysts polled by LSEG. Revenue was $15.38 billion, compared with the consensus estimate of $14.41 billion. Cisco Systems — The technology networking stock rose 3.3% to a 52-week high after Citi upgraded the stock to “buy” from “neutral.” Citi said artificial intelligence could become a larger part of the business over time. Novocure — Shares of Novocure rose 2.1% after the U.S. Food and Drug Administration approved Optune Lua, the company’s wearable treatment for metastatic non-small cell lung cancer. ASML – Shares of ASML, down 16% since Tuesday, tumbled 5.8% after the Dutch company mistakenly reported third-quarter earnings earlier than expected. ASML Holdings Inc lowered its sales forecast for 2025, citing a slower-than-expected recovery in segments other than artificial intelligence. JB Hunt Transport Services — Shares rose 3.4% after the company reported better-than-expected revenue and profit. JB Hunt reported third-quarter 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. Aspen Aerogels — Shares of Aspen Aerogels rose 11% after the company announced it had received a conditional commitment from a proposed Department of Energy loan of up to $670.6 million. Aspen Aerogels also announced its preliminary performance for the third quarter. For the period, the company expects revenue of about $117 million and adjusted EBITDA of $25 million, above the $95.1 million in revenue and $14.1 million in adjusted EBITDA expected by analysts polled by FactSet. Prologis — Shares of Prologis rose more than 4% after the warehousing giant reported better-than-expected quarterly results. Prologis reported third-quarter core funds from operations of $1.43 per diluted share, above the FactSet forecast of $1.37. “Looking ahead, supply conditions are improving and the long-term demand drivers for our business remain strong,” Chief Executive Hamid Moghadam said in a statement. US Bancorp — US Bancorp beat third-quarter profit expectations, per LSEG data Shares gained more than 4% after earnings of $1.03, compared with analysts’ expectations of 99 cents per share. However, revenue fell short of expectations, coming in at $6.86 billion versus the consensus estimate of $6.9 billion. General Motors Co. — Shares of General Motors Co. rose more than 2% after the automaker struck a deal with Lithium Americas Corp. to form a joint venture. The deal includes GM providing $625 million in cash and credit to the Canadian mining company. —CNBC’s Alex Harring, Hakyung Kim, Samantha Subin, Pia Singh and Michelle Fox contributed reporting.
