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

0945 - S&P services PMI flash for November: Expected 55; Prior 55
0945 - S&P manufacturing PMI flash for November: Expected 48.9; Prior 48.5
0945 - S&P composite PMI flash for November: Expected 54.3; Prior 54.1
1000 - UMich consumer sentiment (final) for November: Expected 73.9; Prior 73
1000 - UMich 5-yr inflation expectations (final) for November: Expected 3.1%; Prior 3.1%
1000 - UMich 1-yr inflation expectations (final) for November: Expected 2.7%; Prior 2.6%
1815 - Fed’s Bowman speaks

MicroStrategy Inc (MSTR)

+6.47%

Trading sharply higher premarket after dropping 16% on Thursday, despite starting the session more than 10% to the upside. The stock fell after Citron Research announced that it had entered a short position in the stock as a Bitcoin hedge, saying that the stock’s post-election rally has outpaced Bitcoin’s fundamentals. After the bell on Thursday, MicroStrategy announced the completion of a $3 billion offering of 0% convertible senior notes due 2029, planning to use the proceeds to acquire more Bitcoin.

Alphabet Inc (GOOGL)

-0.73%

Trading lower premarket after The Information reported that OpenAI is exploring the development of a web browser to compete with Google's dominance. This report follows a series of negative catalysts for Alphabet as the Department of Justice demands that the company divest its Chrome browser and share its search data, with Bloomberg reporting that the DoJ is also probing Google’s Anthropic deal.

Apple Inc (AAPL)

+0.19%

On watch after Bloomberg reported that the company developing a conversational AI-powered "LLM Siri" to rival OpenAI's ChatGPT and Google's Gemini. The new Siri, focusing on privacy and ChatGPT-like features, is expected to debut with iOS 19 and macOS 16 in 2025, with a full rollout planned for 2026. Separately, the Wall Street Journal reported that Apple competitor Huawei is preparing to launch its most advanced chip in some of its Mate 70 phones, which are set to be released next week.

Chinese ADRs

-2.73%

Trading lower as a group in tandem with a 3.1% drop for the CSI 300 Index and a 2.1% drop for the Hang Seng on Friday. This weakness was driven in part by disappointing tech earnings from Baidu and PDD Holdings amid concerns about weak consumer spending and intensifying competition. The market downturn reflects growing frustration over Beijing's slow fiscal stimulus, escalating U.S.-China tensions, and political pressures such as Texas Governor Greg Abbott's call to divest from Chinese investments.

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

Reddit Inc (RDDT)

-6.52%

Trading sharply lower premarket after Bloomberg reported that Advance Magazine Publishers Inc. plans to sell up to $1.2 billion of its stake in the company. Advance Magazine Publishers is reportedly offering 7.8 million Reddit shares priced between $145.38 and $148.54, while using derivatives to indirectly maintain ownership. Reddit ended Thursday’s session almost 16% higher on no apparent catalyst.

Super Micro Computer Inc (SMCI)

-1.28%

Pulling back with volume premarket following a rally on Thursday. The stock gained 15% by the end of Thursday’s session after the company submitted a compliance plan to Nasdaq, addressing its delayed FY 2024 and Q1 2025 reports and requesting an extension. Earlier this week, Super Micro announced that BDO USA would be serving as the company’s new independent auditor following the resignation of Ernst & Young.

Gap Inc (GAP)

+15.19%

Gapping up after its Q3 2024 earnings report, with GAAP earnings of $0.72 per share and sales of $3.829 billion beating estimates of $0.57 and $3.812 billion, respectively. The company reported year-over-year increases in net sales, operating market, market share, and gross margin. Gap raised its FY 2024 guidance for net sales growth, gross margin growth and operating income margin, but lowered its effective tax rate guidance.

Trump Media & Technology Group Corp (DJT)

+0.79%

On watch after trademark attorney Josh Gerben indicated that the company has filed for a patent to trademark “TruthFi”. According to a social media post from Gerben, the November 18th trademark filing includes digital wallets, digital asset trading, and crypto and credit card payment processing. This filing suggests further cryptocurrency ambitions for Trump Media, which is reportedly looking to acquire crypto company Bakkt Holdings.

Bitdeer Technologies Group (BTDR)

-5.63%

Trading sharply lower premarket after announcing a proposed private placement. The company is offering $360 million of convertible senior notes due 2029. Bitdeer has a market capitalization of $1.25 billion, and roughly 31.6% of its float is sold short.

MSP Recovery Inc (LIFW)

+63.51%

The company, which operates under the name LifeWallet, announced that it has reached a $2 million pharmaceutical litigation settlement and is advancing efforts to address systemic Medicare waste. The company’s initiatives are aligned with the goals of President-elect Donald Trump’s newly-announced Department of Government Efficiency (DOGE), according to its press release. LifeWallet has a float of 1.02 million shares, 8% of which are sold short.