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

0830 Building permits number for Oct: Expected 1.430 mln; Prior 1.425 mln
0830 Building permits change MM for Oct: Prior -3.1%
0830 Housing starts number for Oct: Expected 1.330 mln; Prior 1.354 mln
0830 Housing starts change MM for Oct: Prior -0.5%

Super Micro Computer, Inc. (SMCI)

+23.21%

Super Micro Computer, Inc. announced that its Audit Committee has appointed BDO USA, P.C. as its independent auditor to help bring its financial statements current. The company also submitted a compliance plan to Nasdaq, aiming to regain compliance with listing requirements by completing delayed filings within the discretionary period allowed. Supermicro’s securities will remain listed while Nasdaq reviews the plan. CEO Charles Liang highlighted the importance of this step and expressed confidence in BDO’s global expertise.

Walmart (WMT)

+3.51%

Walmart raised its full-year sales growth forecast to 4.8%-5.1% after posting strong Q3 results that beat expectations, with revenue of $169.59 billion and adjusted EPS of $0.58. Comparable sales grew 5.3% in the U.S., bolstered by a 22% rise in e-commerce driven by delivery fees and marketplace growth. While holiday shopping started strong with demand for items like electronics and tires, unseasonably warm weather slowed sales of apparel and heaters. Tariff risks loom, but Walmart’s diversified supply chain mitigates exposure. Shares, up nearly 60% YTD, closed at $84.08, highlighting its resilience amid mixed retail conditions. 

Crypto Stocks

+0.48%

Trading Higher as a group as Bitcoin trades again above the 92k mark. In addition, Wall Street is set to launch options trading for spot Bitcoin ETFs, with Nasdaq planning to list options for the iShares Bitcoin Trust ETF under the ticker "IBIT" as early as Tuesday. This move marks a significant step in integrating Bitcoin into traditional finance, enabling institutional investors to manage their exposure to the cryptocurrency more effectively. The introduction of these options highlights growing acceptance and expanded trading opportunities for Bitcoin in mainstream markets.

IBIT, MARA, RIOT, MSTR,

Xpeng Inc (XPEV)

+3.78%

XPeng Inc. reported Q3 revenue growth of 18.4% year-over-year, reaching $1.44 billion, surpassing estimates. Vehicle deliveries rose 16.3% to 46,533, while the gross margin improved to 15.3% from negative 2.7% last year, driven by cost reductions and a better product mix. The adjusted net loss per ADS was $0.23, beating expectations. XPeng's sales network expanded to 639 stores across 206 cities, and its charging network reached 1,557 stations. The company held $5.09 billion in cash and equivalents as of September 30, 2024.

Lowe’s Co. (LOW)

-1.76%

Lowe’s beat Q3 expectations with adjusted EPS of $2.89 and revenue of $20.17 billion, driven by outdoor DIY projects, professional services, and stronger online sales, despite a year-over-year revenue decline. The retailer raised its full-year sales forecast to $83-$83.5 billion and expects comparable sales to drop 3%-3.5%, slightly better than prior projections. High interest rates continue to weigh on large-scale home improvement demand, a challenge echoed by competitor Home Depot. Lowe’s shares, up 22% YTD, closed at $271.77, slightly underperforming the S&P 500’s 24% gain.

The Boeing Company (BA)

-1.05%

Boeing announced plans to lay off over 2,500 workers across key U.S. hubs, including Washington, South Carolina, Oregon, and Missouri, as part of a broader strategy to cut 17,000 jobs (10% of its global workforce). The layoffs, impacting engineers, technicians, and non-union workers, aim to streamline operations while restarting production of its 737 MAX following a strike-related disruption. Despite workforce reductions, Boeing’s stock rose 2.6% on Monday to $143.87, as investors monitor cost-cutting efforts and its recovery strategy for key aircraft production.

Trump Media & Tech. & Bakkt Holdings

+17.13%

Trump Media is reportedly in advanced talks to acquire cryptocurrency firm Bakkt, sending shares of both companies soaring—Trump Media gained 16%, while Bakkt surged 162%. Bakkt, founded in 2018 to provide crypto tech services, has faced financial struggles, including a delisting warning earlier this year, despite improving its operating losses by 48% year-over-year. The deal aligns with Trump’s growing crypto ventures, including the World Liberty Financial token, which promises significant revenue for his family. Trump Media’s volatile stock performance, tied to election momentum, highlights investor interest in its strategic moves amid Bakkt’s uncertain financial outlook.

DJT, BKKT

Nvidia Corp (NVDA)

1.37 %

Trading higher as Options traders anticipate Nvidia's market value could shift nearly $300 billion following its quarterly earnings report tomorrow, reflecting an implied 8.5% price swing either way. With Nvidia's market cap at $3.44 trillion, this represents one of the largest potential value changes ever. Historically, Nvidia's post-earnings moves have often fallen short of market expectations, though larger-than-expected changes have typically driven the stock price higher. In the past 12 quarters, five instances of outsized moves have all resulted in gains, indicating strong upward potential.

Microsoft Corp. (MSFT)

-0.23%

Microsoft Ignite 2024, taking place from November 18-22 in Chicago with online access from November 19-21, is set to showcase significant advancements in Microsoft’s cloud and AI technologies, particularly Azure, Windows Server 2025, and Microsoft Copilot. Key highlights include Azure Arc's AI-driven cloud management, expanded AI integration across Microsoft products, and new developments in Microsoft Places for office space management. The event will feature live demos, breakout sessions, and keynotes, including one from CEO Satya Nadella, offering insights into the future of cloud computing and enterprise solutions. With major partners like Slack and Nvidia attending, the event promises crucial updates that could impact the tech sector.