Wednesday November 18, 2024
Welcome to the TraderTV Live Morning Research Note. Here's what's making major moves in the market today.
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Economic Events:
1000 - Fed Goolsbee Speech
Trading Higher ($): TSLA, DJT, ROKU
Trading Lower ($): NFLX, NVDA, TSM
Earnings Today:
Post-market: TCOM, HUYA, ACM
Actionable News
Tesla Inc (TSLA)
+8.06%
Bloomberg News reported, citing sources, that Trump's transition team is working on ways to relax regulations on self-driving vehicles. Barclay’s also raised their PT on the stock to $270 from $235.
Nvidia Corp (NVDA)
-2.09%
Extending declines from last week premarket ahead of earnings due after the close Wednesday, meanwhile DELL has said it’s first server racks featuring NVDA’s Blackwell chip a
Netflix (NFLX)
-0.89%
The boxing match between Jake Paul and Mike Tyson has set multiple records, with Netflix reporting that 60 million households globally watched the event, which peaked at 65 million streams. Additionally, the fight attracted 72,300 live attendees at AT&T Stadium and was streamed in over 6,000 bars and restaurants across the U.S., marking it as the sport's largest commercial distribution to date.
Crypto Stocks
+0.94%
Tracking volatile early trade in the price for BTC, Bitcoin (BTC) is currently trading at around $90,255, but BCA Research predicts it could potentially surge to over $200,000 based on its "260-day fractal dimension complexity" metric. This measure, which analyzes patterns in bitcoin's price changes, remains above 1.20, a level that has historically signaled bull market peaks when breached downwards, suggesting that the cryptocurrency's bull run may still have significant room for growth.
Alibaba (BABA)
+0.40%
Alibaba plans to issue U.S. dollar and Chinese yuan bonds to raise capital, aiming to repay existing debt and support ongoing stock buybacks while leveraging low global interest rates. The company is expected to generate up to $5 billion from the issuance, with dollar-denominated bonds having maturities of 5.5, 10.5, and 30 years, and yuan-denominated bonds carrying tenors of 3.5, 5, 10, and 20 years, taking advantage of the current favorable debt financing environment in the Asia-Pacific region.
Super Micro Computer Inc (SMCI)
+13.69%
Higher to start after last week’s sharp selloff, Super Micro Computer (SMCI) is facing a critical juncture as it approaches a Nasdaq delisting deadline, with its stock plummeting 24.23% following the announcement of a delayed quarterly report filing. The server manufacturer's fate appears to be closely tied to Nvidia's upcoming earnings report, which could potentially provide insight into Super Micro's ability to overcome its current challenges or face further difficulties.
ROKU Inc.
+2.78%
Baird has upgraded Roku (ROKU) to Outperform from Neutral, raising the price target to $90 from $70, citing overlooked positive changes in the business and long-term potential despite a 25% year-to-date stock decline. The firm's optimism is based on favorable industry trends, positive strategic developments, and encouraging recent results, with Baird anticipating potential upside to estimates and valuation following recalibrated investor expectations after the Q3 report.
Taiwan Semiconductor Manufacturing Co (TSM)
-1.15%
TSMC is planning a major global expansion, aiming to significantly boost its production capacity by initiating construction on multiple new semiconductor fabrication plants worldwide by 2025. The company's ambitious plans are expected to result in unprecedented capital expenditures, with forecasts suggesting investments could range from $34 billion to $38 billion in 2025, potentially setting new records for the contract chipmaker's capital outlay.
SINTX Technologies
+50.82%
SINTX Technologies has announced a stock repurchase program authorized by its Board of Directors, aiming to buy back up to $500,000 of the company's outstanding common stock over the next several quarters. This repurchase program, which equates to approximately 20% of total outstanding shares, reflects the company's confidence in its strategic direction and commitment to enhancing shareholder value