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

0830 - Chicago Fed national activity index for October: Expected -0.2; Prior -0.28
1030 - Dallas Fed manufacturing index for November: Expected -2.4; Prior -3

Crypto Stocks

+3.27%

Trading higher as a group as Bitcoin continues to trade near the $100,000 level. The cryptocurrency reached above $99,500 on Friday before pulling back slightly during the weekend, and is trading just above $98,000 as of Monday morning. Separately, Marathon Digital received an Equal-Weight rating and $75 price target from Barclays, while MicroStrategy CEO Michael Saylor claimed that his company has been making $500 million a day thanks to Bitcoin’s recent rally.

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

Amazon Inc (AMZN)

+0.85%

Trading higher premarket after Bloomberg reported that the company is looking to release and market its new Trainium 2 chip, aiming to reduce reliance on Nvidia while offering a high-performance, cost-effective alternative. Backed by improved computational power and growing adoption from prominent AI startups like Anthropic, Amazon is leveraging Trainium 2 as a cornerstone of its AI expansion strategy and strengthening its cloud offerings through AWS.

Tesla Inc (TSLA)

+2.26%

Trading higher premarket, in tandem with the overall market, after President-elect Donald Trump indicated that he intends to nominate hedge fund manager Scott Bessent as Treasury secretary. This selection has been viewed as favorable for the equity market. Separately, Tesla and Rivian are nearing a settlement in their lawsuit over Rivian’s alleged theft of advanced battery technology and recruitment of Tesla employees, with dismissal plans expected by December 24.

Palantir Technologies and Snowflake

+2.57%

Both stocks are trading higher premarket after Daniel Ives of Wedbush Securities released a positive analyst note on the software sector as a whole. Ives predicted that 2025 will mark a turning point for AI implementation, highlighting the software sector as a key beneficiary. Palantir’s price target was raised to $75, while Snowflake’s was raised to $190; both stocks have Outperform ratings at Wedbush.

PLTR, SNOW

Super Micro Computer Inc (SMCI)

+6.94%

Gapping up after gaining more than 78% during the previous week of trading. Last week’s gains were driven by a handful of catalysts, including the appointment of a new independent auditor and the company’s submission of a Nasdaq compliance plan. Super Micro faces Nasdaq delisting due to delays in the reporting and filing of its FY 2024 and Q1 2025 reports.

Macy’s Inc (M)

-3.31%

Trading lower premarket after delaying its Q3 earnings report and releasing in-line preliminary earnings. The company reported net sales of $4.742 billion, down 2.4% year-over-year, with additional revenue of $161 million declining 9.6% year-over-year. Additionally, Macy's disclosed that one of their accounting employees intentionally made erroneous accrual entries, concealing $132 million to $154 million in cumulative delivery expenses from Q4 2021 through November 2, 2024.

Cassava Sciences Inc (SAVA)

-5.44%

Trading sharply lower premarket after the company announced that it is halting its Alzheimer’s drug trials after its topline Phase 3 data missed its endpoints. While simufilam was found to have a “favorable safety profile”, it was not found to have reduced cognitive decline in Alzheimer’s patients when compared to the placebo. The company is hosting a press conference at 8:00 AM ET.

Bath & Body Works Inc (BBWI)

+13.97%

Gapping up following its Q3 2024 earnings report, with adjusted earnings of $0.49 per share and sales of $1.61 billion exceeding expectations of $0.47 and $1.579 billion, respectively. The company raised its adjusted EPS guidance for FY 2024 from $3.06-$3.26 to $3.15-$3.28. Bath & Body Works also improved its net sales guidance for the fiscal year, expecting declines of 1.7%-2.5% compared to previous guidance of a 2%-4% decline.

Rocket Lab USA Inc (RKLB)

+9.80%

Gapping up after successfully completing its 56th Electron mission, deploying five satellites for Kinéis into Low Earth Orbit. The “Ice AIS Baby” mission set a record for the company’s fastest turnaround, just 21 hours after a prior launch. The company also received a $23.9 million grant from the CHIPS Act to increase semiconductor manufacturing at its facility in New Mexico.

Wearable Devices Ltd (WLDS)

+78.72%

Gapping up on no apparent news. The company has a market capitalization of $3.9 million with a float of 756,720 shares, 2.3% of which are sold short.