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

1000 - ISM manufacturing PMI for December: Expected 48.2; Prior 48.4
1000 - ISM manufacturing employment for December: Prior 48.1
1100 - Fed’s Barkin speaks

Tesla Inc (TSLA)

+0.07%

On watch following a weak session on Thursday, during which the stock broke below the $400 level on its first-ever annual drop in vehicle deliveries. However, Tesla’s China sales in December hit a record of 83,000 units, up 12.8% on a month-over-month basis; the company’s total China sales are up 8.8% year-over-year, according to CnEV Post. Additionally, the company reported a 114% year-over-year increase in its energy storage product deployment in 2024.

Microsoft Corp (MSFT)

+0.27%

On watch ahead of the Consumer Electronics Show, scheduled from January 7 to 10. The company is expected to showcase its expanded hardware strategy with compact desktop PCs featuring dedicated Copilot capabilities, as reported by The Verge; companies like Asus and Geekom are set to display Copilot Plus-compatible devices. This push reflects Microsoft's efforts to integrate advanced AI features, such as image generation and editing, into diverse devices, while exploring broader applications like AI-powered health wearables.

Apple Inc (AAPL)

-0.43%

According to documents from the US District Court of the Northern District of California, the company has agreed to pay $95 million to settle claims that its Siri voice assistant recorded private conversations without consent. Eligible US users could potentially receive up to $20 per device for incidents between September 2014 and December 2024. As part of the settlement, Apple will delete unauthorized recordings made before October 2019 and clarify user guidance on Siri’s data collection practices.

Meta Platforms Inc (META)

+0.36%

On watch after announcing that Joel Kaplan, a former Republican Party staffer and current policy VP, will be replacing Nick Clegg as the company’s chief global affairs officer ahead of President-elect Donald Trump’s inauguration. The move signals Meta’s effort to align with the incoming administration, with Kaplan bringing experience as a former White House deputy chief of staff under George W. Bush. Kaplan additionally accompanied Trump and J.D. Vance to the New York Stock exchange last year.

United States Steel Corp (X)

-7.88%

Gapping down after Reuters reported that President Biden may block Nippon Steel's proposed acquisition, citing national security concerns. Nippon Steel has sought to address these issues with commitments to maintain production and grant the U.S. veto power over changes, but labor concerns and potential legal challenges add uncertainty to the deal. Late on Thursday Evening, US Steel announced plans to create a training center in Western Pennsylvania to help develop the area’s workforce should the deal go through.

Block Inc (SQ)

+2.24%

Trading higher premarket after Raymond James upgraded its rating for the stock from Market Perform to Outperform with a $115 price target. The upgrade was attributed in part to the company’s strong Seller GPV momentum, projected to grow from 8% in 2024 to double digits in 2025. The analyst highlighted factors like international expansion, product innovation, improved distribution, and potential for gross profit growth despite challenges in the Cash App segment.

Carvana Co (CVNA)

-4.04%

Trading sharply lower premarket following a short report from Hindenburg. The stock initially dropped upon release of the report on Thursday morning, then recovered to make new highs on the day before selling once again. Hindenburg’s report - titled “Carvana: A Father-Son Accounting Grift for the Ages” - says that the company’s recovery and simultaneous stock rebound are based on the “mirage” of a turnaround within Carvana. The report also accused the company of “accounting manipulation”.

mF International Limited (MFI)

+100.60%

Gapping up on no apparent news. The company has a float of 3.54 million shares and market capitalization of $19.48 million.