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

0830 - Retail sales m/m for October: Expected 0.3%; Prior 0.4%
0830 - Core retail sales m/m for October: Expected 0.3%; Prior 0.5%
0830 - Import prices m/m for October: Expected -0.1%; Prior -0.4%
0830 - Fed’s Goolsbee speaks
0900 - Fed’s Collins speaks
0915 - Industrial production m/m for October: Expected -0.35%; Prior -0.3%
1000 - Business inventories m/m for September: Expected 0.2%; Prior 0.3%

Apple Inc (AAPL)

-0.74%

Trading lower premarket following the release of the 13F filings for Q3 2024. Berkshire Hathaway reduced its stake in the company by 25% over the quarter, leaving the firm with a 300 million-share position valued at $69.9 billion. Meanwhile, Third Point cut its stake in the company by 52%.

Palantir Technologies Inc (PLTR)

+2.50%

Trading higher premarket after the company announced that it will be transferring its stock listing from the New York Stock Exchange to the Nasdaq. The change will take place as of November 26, and the stock symbol will remain “PLTR”.

Tesla Inc (TSLA)

+0.13%

On watch after CEO Elon Musk supported a potential end to the $7500 EV consumer tax credit. Musk’s comments follow reports that the incoming Trump administration is planning on ending this subsidy. Separately, Third Point began a 400,000-share position in Tesla during Q3 2024, according to its 13F filing.

Crypto Stocks

+2.93%

Trading higher as a group as Bitcoin recovers from a pullback on Thursday. The cryptocurrency opened Thursday’s session around $90,500 and closed at $87,500, but has recovered to trade just below $90,000 as of Friday morning. Other crypto names like Cardano and XRP are trading sharply higher to start the day.

MARA, COIN, MSTR, HUT, CLSK, IREN, IBIT, HUT, ETHE, CAN, HIVE, RIOT

Alibaba Group Holding Ltd (BABA)

+3.33%

Trading higher premarket following its earnings report. The company reported sales of $33.7 billion, above estimates of $33.47 billion, and posted earnings of $2.15 per American depository share. Cloud Intelligence revenue rose by 7% year-over-year, and International Digital Commerce revenue jumped by 29%. Alibaba and other Chinese ADRs are also in focus following a stronger-than-expected retail sales print in China for October, with the metric growing by 4.8% for the month.

Applied Materials Inc (AMAT)

-8.06%

Trading sharply lower premarket after its Q4 2024 earnings report. Earnings of $2.32 per share and sales of $7.05 billion beat estimates of $2.19 and $6.954 billion, respectively. CEO Gary Dickerson noted that fiscal 2024 marked the company’s fifth straight year of growth. Applied Materials guided net revenue of $7.15 billion for Q1 2025, plus or minus $400 million, and non-GAAP diluted earnings of $2.29 per share, plus or minus $0.18.

Healthcare Stocks

-1.43%

On watch as a group after President-elect Donald Trump announced plans to appoint Robert F. Kennedy, Jr. to lead the Department of Health and Human Services. Kennedy, who was expected to be Trump’s choice for this role, has expressed skepticism towards vaccines in the past. These stocks dropped near the end of Thursday’s session, when Kennedy’s appointment was first reported and then confirmed.

MRNA, PFE, JNJ, LLY, GSK, NVAX

GameStop and AMC

+1.62%

Trading higher as a pair without any particular catalyst. GameStop pushed higher with volume during Thursday’s session but gave back some of its gains, closing 3.4% higher; the stock has seen upside volume spikes over the past week. GameStop has a short float of 9.25%, while AMC has a short float of 13%.

GME, AMC

Quantum Computing Inc (QUBT)

-27.27%

Gapping down after announcing a $40 million registered direct offering. The stock, which has a short float of roughly 6%, has been running up over the past few sessions after announcing its first order for a photonic chip foundry on Wednesday.

Arena Group Holdings Inc (AREN)

+264.91%

Trading higher premarket following its Q3 earnings report. The company reported earnings of $0.13 per share, up from a 37-cents-per-share loss on a year-over-year basis, though sales of $33.56 million marked a year-over-year decline.