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

0830 - Nonfarm payrolls for December: Expected 165k; Prior 227k
0830 - Unemployment rate for December: Expected 4.2%; Prior 4.2%
0830 - Average earnings y/y for December: Expected 4%; Prior 4%
1000 - UMich consumer sentiment (prelim) for January: Expected 74; Prior 74
1000 - UMich 5-yr Inflation Expectations (prelim) for January: Expected 3%; Prior 3%
1000 - UMich 1-yr Inflation Expectations (prelim) for January: Expected 2.8%; Prior 2.8%

Advanced Micro Devices Inc (AMD)

-2.04%

Trading lower premarket after Goldman Sachs downgraded the stock from Buy to Neutral and lowered its price target from $175 to $129. The analyst attributed the downgrade to concerns over competition from Arm-based CPUs and challenges in accelerated computing that could impact revenue growth and profitability. While acknowledging AMD's potential to gain market share from Intel, Goldman Sachs noted that the stock has underperformed the S&P 500 and the semiconductor benchmark.

Tesla Inc (TSLA)

+0.27%

On watch after introducing a refreshed version of its Model Y SUV in China, featuring a longer range, updated design, and improved interior quality. Prices start at 263,500 yuan, 5.4% higher than the previous model. Deliveries are slated to begin in March. Separately, supply chain analyst Ming-Chi Kuo opined that Tesla's Q1 2025 production is expected to decline by 10% quarter-over-quarter and 5% year-over-year due to global economic challenges and seasonal factors. He also noted that mass production visibility for Tesla's more affordable new model might not be achievable in 2025.

Taiwan Semiconductor Manufacturing Co (TSM)

+1.05%

Trading higher premarket after reporting a 57.8% year-over-year increase in revenue for December 2024. The company’s consolidated revenue for 2024 increased by 33.9% year-over-year. Taiwan Semiconductor guided Q4 revenue between $26.1 billion and $26.9 billion. The company is scheduled to report Q4 2024 earnings before the bell on Thursday, January 16.

Social Media Stocks

-0.66%

On watch as a group as the Supreme Court prepares to hear arguments on the TikTok ban on Friday. This ban, enacted under the Protecting Americans from Foreign Adversary Controlled Applications Act, prohibits the app's distribution while under Chinese ownership. ByteDance has opposed the ban on First Amendment grounds, warning it could cost U.S. small businesses and creators $1.3 billion in the first month. On Thursday, Frank McCourt's Project Liberty announced a proposal to purchase the platform from ByteDance.

META, SNAP, PINS

Chinese ADRs

-2.05%

Trading lower premarket following a weak trading session overseas. Both the MSCI China Index and the CSI 300 Index dropped roughly 1%, with the MSCI nearing a bear market and the CSI down almost 5% year-to-date. Geopolitical tensions, including U.S. blacklisting of Tencent and CATL and potential AI chip export curbs, have fueled fears of worsening relations ahead of Donald Trump’s inauguration.

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

Walgreens Boots Alliance Inc (WBA)

+10.63%

Gapping up after its Q1 2025 earnings report, with adjusted earnings of $0.51 per share and sales of $39.46 billion exceeding estimates of $0.37 and $37.28 billion, respectively. Sales grew by 7.5% year-over-year due to growth in all three of its business segments. The company maintained its previous adjusted EPS guidance of $1.40 to $1.80 for 2025, compared to the consensus estimates of $1.52.

Delta Air Lines Inc (DAL)

+6.97%

Trading higher premarket following its Q4 2024 earnings report. Adjusted earnings of $1.85 per share and sales of $14.437 billion beat estimates of $1.76 and $14.212 billion, respectively. CEO Ed Bastian predicted fiscal 2025 to be the company’s “best financial year in [its] history”, with free cash flow predicted to rise by 18% year-over-year. The company guided Q1 2025 revenue growth between 7% and 9%, above estimates of 5%, but the lower end of its Q1 2025 EPS guide missed estimates.

Constellation Energy Corp (CEG)

+11.63%

Gapping up after announcing an agreement to acquire Calpine Corp for $16.4 billion in a cash and stock transaction. The transaction, which is projected to close within a year, is slated to help Constellation to reach 2.5 million customers and grow its adjusted operating EPS by more than 20% over the next two years. Bloomberg reported that the company was looking to acquire Calpine for $30 billion on Wednesday.

Quantum Stocks

+3.45%

Rebounding premarket following a sharp drop on Wednesday. Stocks like Rigetti and IONQ closed roughly 40% lower after Nvidia CEO Jensen Huang warned that the world is likely 15 to 30 years away from a quantum computer. Martin Shkreli shared a bear case for the quantum space shortly afterward. Quantum stocks, which have made exponential gains since November 2024, have also faced short reports from Citron Research since their rally began; most of these tickers have short floats of at least 10%.

RGTI, IONQ, ARQQ, QUBT, QBTS, QS

Vision Marine Technologies Inc (VMAR)

+70.39%

Gapping up after announcing a partnership with Calip Group. The companies are set to collaborate on cooling plates to be used in electric boat batteries. Vision Marine Technologies has a float of anywhere from 73,500 shares to 2.5 million shares, and a short float of approximately 12.73% to 26.53%.