Investing.com - Stocks in focus in pre-market trade Wednesday:
• Morgan Stanley (NYSE:MS) stock jumped 2.87% by 8:11 AM ET (12:11 GMT) as it reported second quarter earnings that topped consensus.
• Google (NASDAQ:GOOGL) stock fell 0.43% after the European Union fined the tech giant a record €4.34 billion ($5 billion) over three types of illegal restrictions on the use of its Android mobile operating system. Google said it will appeal the fine.
• CSX (NASDAQ:CSX) jumped 4.36% as quarterly earnings per share beat by 15 cents and revenue also topped consensus.
• United Continental (NYSE:UAL) soared 4.65% as the airline reported earnings per share of $3.23, topping the $3.05 estimate, and also published better-than-expected revenue.
• Texas Instruments (NASDAQ:TXN) stock fell 0.82% as Brian Crutcher, president and chief executive, resigned amidst violations of the company's code of conduct. “The violations are related to personal behavior that is not consistent with our ethics and core values, but not related to company strategy, operations or financial reporting,” the firm explained in a press release.
• Berkshire Hathaway (NYSE:BRKa) stock gained 2.11% after announcing a new share buyback policy that will allow the firm to repurchase stock whenever it feels it is below its intrinsic value.
• Amazon.com (NASDAQ:AMZN) stock rose 0.15% as Piper Jaffray reiterated its overweight recommendation and raised its target price to $2,075 from $1,850. These analysts noted that the firm’s retail segment may be light this quarter, but expect its cloud computing services to offset the weakness.
• Abbott Laboratories (NYSE:ABT) stock rose 1.94% as the firm posted better-than-expected second quarter results.
• US Bancorp (NYSE:USB) stock gained 1.09% as second quarter earnings per share of $1.02 beat estimates by two cents. Revenue of $5.64 billion came in slightly below expectations.