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

0830 -Initial jobless claims: Expected -220,000; Prior -224,000
0830 - Jobless claims 4-week average : Prior 218250
0830 - Continued jobless claims: Expected 1.875 mln; Prior 1.871 mln
0830 - Core PPI (MOM) for Nov : Expected 0.2%; Prior 0.3%
0830 -PPI (Mom) for Nov: Expected 0.2%; Prior 0,2%

Adobe Inc. (ADBE)

-11.29%

Adobe Inc. (NASDAQ: ADBE) reported strong fourth-quarter financial results, with revenue of $5.61 billion exceeding the consensus estimate of $5.54 billion. Adjusted earnings per share were $4.81, surpassing analyst expectations of $4.66. This marks the eighth consecutive quarter Adobe has outperformed estimates. For Q1 2025, Adobe forecasts revenue between $5.63 billion and $5.68 billion, slightly below market expectations, with adjusted earnings projected at $4.95 to $5 per share. Full-year 2025 guidance anticipates revenue between $23.3 billion and $23.55 billion, with earnings in the range of $20.20 to $20.50 per share, both slightly shy of analyst estimates.

NVIDIA Corp

-0.49%

Nvidia (NVDA) faces a revived securities fraud lawsuit after the U.S. Supreme Court dismissed its appeal to halt the case, which alleges the company misled investors about the extent of its reliance on cryptocurrency sales during 2017-2018. The 9th Circuit had reinstated the class action, citing sufficient claims of misleading statements by Nvidia's CEO, following a revenue miss in late 2018 tied to a crypto market decline. Nvidia, which paid $5.5 million in 2022 to settle related regulatory charges, argues that the allegations lack merit but is now entering the discovery phase of litigation. Traders should monitor for potential stock volatility as the case progresses, with regulatory and legal risks in focus.

ServiceTitan (TTAN)

-%

ServiceTitan, a cloud software provider for contractors, priced its IPO at $71 per share on Wednesday, exceeding its expected range. The company will debut on the Nasdaq under the ticker "TTAN" and raised approximately $625 million by selling 8.8 million shares, valuing the company at around $6.3 billion. ServiceTitan initially projected a price range of $65 to $67 but adjusted it upward. The IPO marks a rare event for tech companies since late 2021, when rising interest rates and inflation diminished investor interest in riskier assets, including cloud software firms that thrived during the pandemic's remote work boom.

Crypto Stocks

%

Trading higher as a group, led by Hut 8 up 17% as Bitcoin reclaims the $100,000 level. HUT 8 is up specifically after Jones Trading initiated coverage on the miner with a Buy rating and a price target of $36. Microstrategy has gone from red to green early after strong gains yesterday

IBIT, MSTR, HUT, MARA, COIN, CLSK

Uber Technologies & Lyft Inc.

+3.38%

Uber (UBER) and Lyft (LYFT) shares fell sharply Wednesday, down 4.43% and 3.97%, respectively, after GM announced it is shutting down its Cruise Robotaxi division, raising concerns about the scalability and viability of autonomous vehicle (AV) technology. Analysts warn the move disrupts the AV ecosystem, leaving Uber’s partnership with Cruise uncertain and potentially exposing it to higher development costs, a scenario described as unrealistic at this stage. The decision consolidates the market, benefiting players like Tesla and Waymo, but highlights the financial and operational challenges of scaling AV networks, adding pressure to rideshare stocks.

Palisade Bio (PALI)

123.57%

Super low float name is gapping higher on extremely high relative volume. This microcap has a 1.16m float with 9% short. Garnering a solid amount of social media attention with no apparently headlines.

Nio Inc. (NIO)

-1.07%

Chinese EV maker Nio outlined aggressive growth plans, aiming to double 2025 sales versus 2023 and achieve 20,000 monthly deliveries of its affordable Onvo brand by March 2025. CEO William Li emphasized cost control, efficiency, and ramping up production, with its third factory set to start in late 2024. Nio is expanding its market share with budget-friendly models like the Onvo L60 SUV, priced lower than Tesla's Model Y in China. However, U.S. export curbs on semiconductors pose challenges, particularly in replacing low-cost foreign chips with domestic alternatives. Shares could see volatility as the company balances competitive pricing, operational streamlining, and geopolitical pressures.

Chewy Inc. (CHWY)

-3.01%

Chewy (CHWY) shares dropped 2.9% premarket to $31.60 following the announcement of a secondary offering of approximately 15.9 million shares, sold by BC Partners, its largest shareholder, at a 3.1% discount to the last closing price. In addition to this offering, Chewy is repurchasing $50 million in shares. BC Partners is reducing its stake by offloading roughly 17.5 million shares, leaving it with around 229 million shares. This comes after Chewy posted Q3 results with adjusted earnings of $0.01 per share (below the expected $0.08) and revenue of $2.9 billion (in line with estimates). Despite a 38% YTD gain, the stock faces market pressure due to the offering and ongoing challenges with profitability.

Tesla Inc. (TSLA)

+0.21%

Daiwa Capital Markets raised its price target for Tesla (TSLA) to $420 from $285, citing the company's strong position in the autonomous vehicle (AV) market, especially following General Motors' exit from its Cruise robotaxi business. The upgrade is driven by Tesla's development of its robotaxi, the "Cybercab," set to begin production in 2026 and priced under $30,000, which is expected to boost long-term growth. Daiwa also emphasized Tesla's robust balance sheet and cash flow from its automotive and energy storage businesses, supporting continued investment in its robotaxi initiatives. Tesla's stock is up around 71% year-to-date.

PainReform Ltd (PRFX)

+138.08%

Gapping up after announcing the appointment of Eyal Broder as interim CFO. Broder will be replacing Dr. Ehud Geller, who will remain the company’s interim CEO and executive chairman. PainReform has a $27.09 million market capitalization and a float of 4.31 million shares, approximately 5.2% of which are sold short.