At Extreme Investor Network, we bring you the latest and most valuable information in the world of finance. Today, we are talking about the companies making headlines in the stock market before the bell rings.
One of the top performers is Tesla, the electric vehicle stock that surged 7% and is expected to continue its momentum after a 29% surge last week. With Elon Musk at the helm, Tesla has surpassed $1 trillion in market value as investors place their bets on the company benefiting from the new administration under President-elect Donald Trump.
Crypto stocks are also on the rise, with bitcoin reaching new highs above $82,000. Wall Street is optimistic about the future of the cryptocurrency industry under a Trump administration, leading to a rally in companies like Coinbase, MicroStrategy, and Robinhood.
In the health insurance sector, Cigna saw an 8% increase in its stock price after announcing it will not be pursuing a merger with Humana. The company also reaffirmed its fiscal guidance for 2024 and 2025. On the other hand, Humana shares dropped 8%.
RadNet, a radiology company, saw a 15% jump in its stock price on the back of stronger-than-expected earnings and revenue for the third quarter. The company also announced a strategic collaboration with GE HealthCare.
Cisco’s stock price rose by 1.6% following an upgrade at JPMorgan to overweight from neutral. The bank believes that Cisco will see positive earnings revisions due to a recovery in demand for Enterprise Networking.
Trump Media & Technology, a social media stock connected to the president-elect, gained 8% as investors continued to show interest in companies associated with the incoming administration.
Valley National Bank, a New York-based regional bank, saw a 3% increase in its stock price after JPMorgan upgraded it to overweight from neutral. The bank highlighted Valley National’s progress in reducing its exposure to commercial real estate.
Cboe Global Markets also made headlines with a 1.3% increase in its stock price after Deutsche Bank upgraded it to buy from hold. The exchange operator is expected to maintain strong revenue growth into 2025, driven by post-election market volatility and increased use of index and volatility options and futures products.
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