Check out the companies making headlines before the market opens. Tesla — The electric car stock rose 7% and was on track to build on last week’s 29% gain. The Elon Musk-run company’s stock price rose after Donald Trump was elected president, with its market capitalization topping $1 trillion on Friday as investors bet the company will benefit under the new administration. . Crypto Stocks – Cryptocurrency-related stocks rose, with Bitcoin crossing $82,000 and setting a new high, as Wall Street continues to bet that a Trump administration will be more beneficial to the crypto industry. Coinbase rose 15% and MicroStrategy gained 11%. Robinhood rose about 7%. Cigna — Shares of Cigna rose 8% after the health insurance giant said it would not seek a merger with Humana. Cigna also reiterated guidance for fiscal 2024 and 2025. Humana shares fell 8%. RadNet — The radiology company’s shares rose 15% on stronger-than-expected third-quarter earnings and revenue. RadNet also announced a “strategic collaboration” with GE HealthCare. Cisco — Shares of Cisco rose 1.6% after JPMorgan upgraded the stock to overweight from neutral. The bank expects Cisco to likely return to positive earnings revisions due to a recovery cycle in enterprise networking demand. Trump Media & Technology — Trump’s social media stocks rose 8% as investors continued to pour money into stocks related to the president-elect. Valley National Bank — Shares of the New York-based regional bank rose about 3% on light volume after JPMorgan upgraded it to overweight from neutral. Valley National Investments is making progress in reducing commercial real estate risk. Valley National announced last week it would sell additional shares, with JPMorgan Chase & Co. being the sole bookkeeping manager on the deal. Cboe Global Markets — Deutsche Bank rose 1.3% after it upgraded the stock to buy from hold and said the exchange operator should maintain strong revenue growth through at least 2025. Market volatility should drive “increased use of index and volatility options” and futures products,” the company also said. —CNBC’s Michelle Fox, Jesse Pond and Piaszinger contributed reporting
