United Air reports Q3 beat, Amazon unveils nuclear energy pacts: Morning Buzz

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

• United Airlines (UAL) reported better-than-expected Q3 results and announced a $1.5B share repurchase program
• Morgan Stanley (MS) reported upbeat Q3 earnings and revenue
• Abbott (ABT) reported better-than-expected Q3 results and narrowed its FY24 guidance
• Amazon (AMZN) announced three new agreements to support the development of nuclear energy
• China’s CSAC has called for a review of Intel (INTC) products sold in the country, Reuters reports

2. WALL STREET CALLS:

• Cisco (CSCO) upgraded to Buy at Citi
• Universal Health (UHS) upgraded at TD Cowen, here’s why
• Yum! Brands (YUM) downgraded to Hold at TD Cowen
• HSBC sees “misplaced hope” about Estee Lauder (EL), downgrades to Hold
• Disney (DIS) initiated with a Neutral at Piper Sandler

3. AROUND THE WEB:

• Nokia (NOK) is in talks with Bharti Airtel for a multibillion-dollar contract to provide 5G telecom equipment for the Indian mobile operator, Reuters reports
• Former President Donald Trump told Bloomberg he would end the pending sale of U.S. Steel (X) to Nippon Steel (NPSCY) should the deal not be completed before he takes office, should he win the election
• The launch of the Apple (AAPL) iPhone 16 series has yet to be released in the Indonesian market as Apple continues negotiations with the Indonesian government, DigiTimes says
• Novo Nordisk (NVO) has been accused of prioritizing profits over the health of people in developing countries after halting the production of its insulin pens, The Guardian reports
• Alibaba (BABA) and Baidu (BIDU) are set to invest in a nearly $700M offering by Horizon Robotics, WSJ says

4. MOVERS:

• Wave Life Sciences (WVE) higher in New York after announcing data from its ongoing Phase 1b/2a RestorAATion-2 study
• Aspen Aerogels (ASPN) increases after receiving a conditional commitment from the DOE for a proposed loan of up to $670.6M
• Novocure (NVCR) gains in New York after H.C. Wainwright upgraded the stock to Buy
• Novavax (NVAX) falls after the FDA placed a clinical hold on its IND for the COVID-flu combo vaccine
• Service Properties (SVC) lower after cutting its quarterly dividend from 20c to 1c per share

5. EARNINGS/GUIDANCE:

• J.B. Hunt (JBHT) reported Q3 results, with EPS and revenue beating consensus
• First Horizon (FHN) reported Q3 results, with CEO Bryan Jordan commenting, “We delivered 18% growth in earnings per share compared to the prior quarter”
• Penguin Solutions (PENG) reported Q4 results and provided guidance for FY25
• Prologis (PLD) announced Q3 results and narrowed its core FFO guidance for FY24
• Ulta Beauty (ULTA) backed its guidance for FY24

INDEXES:

Near midday, the Dow was up 193.82, or 0.45%, to 42,934.24, the Nasdaq was down 24.25, or 0.13%, to 18,291.33, and the S&P 500 was up 4.66, or 0.08%, to 5,819.92.