^{_{Welcome to the TraderTV Live Morning Research Note. Here's what's making major moves in the market today.}}

0830 - CPI y/y for November: Expected 3.1%; Prior 3%
0830 - CPI m/m for November: Expected 0.3%; Prior 0.3%
0830 - Core CPI y/y for November: Expected 3%; Prior 3%
0830 - Core CPI m/m for November: Expected 0.3%; Prior 0.2%
0830 - Initial jobless claims: Expected 225k; Prior 236k

Micron Technology Inc (MU)

+4.47%

Gapping up after its Q1 2026 earnings report, with adjusted earnings of $4.78 per share and sales of $13.643 billion beating estimates of $3.94 and $12.834 billion, respectively. The company guided Q2 sales between $18.3 billion and $19.1 billion, well above estimates of $14.161 billion; its GAAP and adjusted EPS projections for the same period similarly exceeded estimates. Micron also noted that it expects to see continued strength in server demand through FY26.

Medline Inc (MDLN)

-6.54%

Pulling back sharply following a well-received IPO on Wednesday. The company’s market capitalization exceeded $54 billion as of Wednesday, with the stock closing around $41 per share after being initially priced at $29 per share. The upsized offering raised $6.26 billion, marking the largest IPO of 2025.

Cannabis Stocks

+5.44%

Reuters reported that President Donald Trump is set to address the potential loosening of federal marijuana regulations, including reclassifying it from Schedule I to Schedule III. This rescheduling could ease criminal penalties, expand research funding, and open banking and investment opportunities for the cannabis industry. While details of the policy are not yet finalized, excitement around a possible announcement has already boosted cannabis stocks and could represent the most significant federal shift in marijuana policy in decades.

ACB, CGC, TLRY, MSOS

Lululemon Athletica Inc (LULU)

+6.80%

Gapping up after the Wall Street Journal reported that Elliott Management has built a stake exceeding $1 billion in the company. Elliott is reportedly pushing for changes and is working with former Ralph Lauren CFO/COO Jane Nielsen as a potential CEO candidate. The move signals activist pressure on Lululemon to improve strategy and performance under new leadership. Separately, Lululemon announced plans for its largest-ever international expansion in 2026, entering six new markets through franchise partners as it accelerates global growth.

Coinbase Global Inc (COIN)

+2.43%

The company announced that it is expanding beyond crypto by allowing users to trade stocks and real-world event contracts on its platform, aiming to capture more retail trading activity under one roof despite rising regulatory scrutiny around event contracts. Separately, the company named former U.K. finance minister George Osborne to lead its internal advisory council as it seeks to deepen government engagement outside the U.S.

Trump Media & Technology Group Inc (DJT)

+22.45%

Gapping up after announcing an all-stock merger with TAE Technologies valued at over $6 billion, resulting in roughly 50/50 diluted ownership between the two companies. Trump Media will contribute up to $200 million in cash at signing plus $100 million after the first S-4 filing. The deal is expected to close in mid-2026 pending approvals.

PayPal Holdings Inc (PYPL)

-1.61%

Morgan Stanley downgraded the stock to Underweight from Equal Weight and cut its price target to $51 from $74, citing a weaker long-term growth outlook. The firm expects slow progress in branded checkout, continued share loss, take-rate pressure, limited Venmo monetization, and downward revisions to margins and EPS through 2028.

Carmax Inc (KMX)

-5.60%

Gapping down after its Q3 2026 earnings report. The company posted earnings of $0.43 per share, above estimates of $0.39, with sales of $5.794 billion similarly beating estimates of $5.678 billion. Carmax also announced that board member Dave McCreight will serve as interim president and CEO as the company continues to search for a permanent CEO.

Rivian Automotive Inc (RIVN)

+3.29%

Trading higher premarket after Baird upgraded the stock to Outperform and raised its price target to $25, The analyst highlighted 2026 as a key inflection year driven by the launch of the R2, which could meaningfully lift brand strength, demand, and deliveries beginning mid-year. Baird also pointed to Rivian’s recent Autonomy and AI Day, including custom chip development and clearer autonomous strategy, as positives for long-term competitiveness.

Darden Restaurants Inc (DRI)

+2.89%

Trading higher premarket following its Q2 2026 earnings report. Adjusted earnings of $2.08 per share narrowly missed estimates of $2.10, though sales of $3.102 billion beat estimates of $3.071 billion. Darden continues to expect adjusted earnings between $10.50 and $10.70 per share for FY26, in line with analyst estimates of $10.60

NVIDIA Corp (NVDA)

+1.12%

On watch after settling a US lawsuit from Valeo alleging that a former Valeo engineer stole trade secrets related to car parking assistance. Nvidia denied the claims and fired the employee involved. Separately, Nvidia board member Harvey Jones sold over $44 million in company stock, according to a regulatory filing.

Apple Inc and Alphabet Inc

+0.07%

In response to Japan’s Mobile Software Competition Act, Apple will allow iOS apps to be distributed through alternative app stores with basic security screening, while Google will offer choice screens for browsers and search engines and enable alternative in-app billing options. These changes aim to increase competition but introduce potential risks such as malware, fraud, and privacy concerns, with Apple and Google implementing safeguards to protect users.

AAPL, GOOGL

Maplebear (CART)

-6.29%

Gapping down after Reuters reported that the FTC has opened an investigation into Instacart’s pricing practices. The agency has reportedly issued a civil investigative demand focused on how prices are displayed in its app. The probe follows a study showing items can cost ~7% more on Instacart than in-store, though Instacart says retailers—not the platform—set those prices.

Athira Pharma Inc (ATHA)

+61.31%

Gapping up after acquiring global rights (excluding Asia and select Middle Eastern countries) to develop and commercialize lasofoxifene, a selective estrogen receptor modulator in a potentially registrational Phase 3 trial for metastatic breast cancer. Topline data is expected in mid-2027. The stock has a float of 3.75 million shares.