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

0830 - Unemployment rate for November: Expected 4.1%; Prior 4.1%
0830 - Nonfarm payrolls for November: Expected 220k; Prior 12k
0830 - Average earnings y/y for November: Expected 3.9%; Prior 4.0%
0915 - Fed’s Bowman speaks
1000 - UMich consumer sentiment (prelim) for December: Expected 73.3; Prior 71.8
1000 - UMich 5-yr Inflation Expectations (prelim) for December: Expected 3.1%; Prior 3.2%
1000 - UMich 1-yr Inflation Expectations (prelim) for December: Expected 2.7%; Prior 2.6%

GameStop and Unity

+0.65%

On watch as a pair after rallying on Thursday afternoon, when Keith “Roaring Kitty” Gill shared his first post on X since September 6. The picture Gill posted appeared to be in reference to Time Magazine’s Person of the Year cover from 2006, when the magazine selected “You”. This led to speculation that Gill was referencing Unity, which trades under the ticker “U”. Cannabis stocks also rallied after the post; the number “4:20” was featured in Gill’s image.

GME, U

Lululemon Athletica Inc (LULU)

+8.92%

Gapping up after reporting Q3 2024 earnings, with GAAP earnings of $2.87 per share and sales of $2.4 billion beating estimates of $2.71 and $2.36 billion, respectively. Revenue rose by 9% year-over-year, with net revenue increasing by 2% in the Americas and 33% internationally. The company guided Q4 revenue between $3.475 billion to $3.51 billion, compared to estimates of $3.496 billion, and increased its buyback program by $1 billion.

Amazon.com and NVIDIA Corp

+0.15%

Nikkei reported that Amazon has halted the development of its Inferentia AI chip to focus on its Trainium chip, consolidating its product lines for both AI training and inference tasks. This shift aligns with Amazon's strategy to optimize cost performance and challenge Nvidia's dominance, with plans for the Trainium3 chip in 2025 promising double the performance of its predecessor. Current Trainum2 customers include Apple and Anthropic. Nvidia is trading marginally lower premarket, and Amazon is marginally higher.

AMZN, NVDA.

Microsoft Corp (MSFT)

+0.10%

On watch after the Financial Times reported that OpenAI is considering removing a clause that restricts Microsoft, its largest investor, from using AGI-level technology for commercial purposes. The potential change is reportedly part of OpenAI’s restructuring plan to transition into a public benefit corporation and secure significant funding. This shift reflects OpenAI's need to remain competitive against AI giants like Google and Amazon, while balancing its nonprofit mission to ensure AGI benefits humanity.

Chinese ADRs

+2.47%

Trading higher as a group following a strong trading session in China, with Chinese stocks reaching two-week highs. This rally was driven by speculation of fresh stimulus measures to be unveiled at the Central Economic Work Conference next week. Investors and Wall Street banks, including Goldman Sachs and Morgan Stanley, anticipate substantial policy moves, including significant interest rate cuts in 2025, to boost growth and combat deflation.

BABA, JD, BILI, BIDU, PDD, LI, XPEV, NIO, ZK

UiPath Inc (PATH)

-4.18%

Trading lower premarket following its earnings report. Adjusted earnings of $0.11 per share beat estimates of $0.07, and sales of $354.65 million beat estimates of $347.69 million. The company reported a 17% year-over-year increase in annual recurring revenue (ARR), with net new ARR reaching $56 million. UiPath guided revenue between $422 million and $427 million for Q4, compared to estimates of $423.79 million.

GitLab Inc (GTLB)

+10.48%

Gapping up following its earnings report for fiscal Q3 2025, with adjusted earnings of $0.23 per share and sales of $196 million beating estimates of $0.16 and $187.93 million, respectively. The company guided Q4 revenue between $205 million and $206 million, above estimates of $204.368 million, and adjusted earnings between $0.22 and $0.23 per share, above estimates of $0.14. GitLab also announced that co-founder and CEO Sid Sijbrandij is stepping down and that Bill Staples will take over the role.

AMC Entertainment Holdings Inc (AMC)

-9.23%

Gapping down after filing for a stock offering of up to 50 million Class A shares. According to the filing, Goldman Sachs will serve as the sales agent in the transaction. This filing follows a notable rally for AMC on Thursday afternoon in conjunction with Roaring Kitty’s first tweet in nearly three months.

DocuSign Inc (DOCU)

+12.21%

Gapping up after its Q3 2025 earnings report. The company posted adjusted earnings of $0.90 per share and sales of $754 million, above estimates of $0.87 and $745.263 million, respectively. DocuSign guided Q4 revenue at $758 million-$762 million, beating estimates of $755.952 million, and fiscal 2025 revenue of $2.959 billion-$2.936 billion, above expectations of $2.948 billion.

Asana Inc (ASAN)

+25.61%

Gapping up following its earnings report. The company reported losses of $0.02 per share for Q3 2024, smaller than the expected loss of $0.07, with sales of $183.882 million beating estimates of $180.666 million. Asana guided stronger-than-expected guidance for fiscal 2025, though the lower end of its EPS and revenue guidance ranges for Q4 fell below analyst estimates.