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

0830 - Initial jobless claims: Expected 215k; Prior 213k
0830 - GDP growth rate q/q (2nd estimate) for Q3: Expected 2.8%; Prior 2.8%
0830 - Durable goods orders for October: Expected 0.5%; Prior -0.7%
0830 - PCE price index y/y for October: Expected 2.3%; Prior 2.1%
0830 - PCE price index m/m for October: Expected 0.2%; Prior 0.2%
0830 - Core PCE price index y/y for October: Expected 2.8%; Prior 2.7%
0830 - Core PCE price index m/m for October: Expected 0.3%; Prior 0.3%

Crypto Stocks

+3.23%

Trading higher as a group, mirroring a rebound in Bitcoin. The cryptocurrency traded lower during the previous two sessions, breaking below the $91,000 level on Tuesday, but has recovered to trade around $93,000 as of Wednesday morning. Ethereum is also trading higher, hovering above $3400 as of Wednesday morning.

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

Dell Technologies Inc (DELL)

-11.20%

Gapping down following its Q3 earnings report. Sales of $24.37 billion missed estimates of $24.65 billion, while adjusted earnings of $2.15 per share beat estimates of $2.05. Infrastructure Solution Group revenue grew by 24% year-over-year and servers and networking revenue grew by 58%, though consumer revenue dropped by 18%.

Tesla Inc (TSLA)

+0.63%

The company announces changes to its referral program across North America to accelerate deliveries, now offering referrers up to $1,000 per successful referral and buyers discounts of up to $2,000 on select models. Other incentives include three months of free FSD and unlimited Supercharging for deliveries by year-end. This move aligns with Tesla’s broader strategy to boost fourth-quarter sales to meet its ambitious delivery target of 515,000 vehicles.

Apple Inc (AAPL)

-0.45%

On watch after a report from research firm International Data Corporation (IDC) suggested that global smartphone shipments are likely to grow 6.2% year-over-year in 2024 to 1.24 billion units. The IDC attributed this projected growth to pent-up demand for upgrades after two years of declining shipments. According to the report, Apple shipments are expected to grow by only 0.4%, compared to a projected 7.6% increase in Android shipments; however, iOS growth is projected to surpass Android growth in 2025.

CrowdStrike Holdings Inc (CRWD)

-3.91%

Trading lower premarket following its earnings report for fiscal Q3 2025. The company reported adjusted earnings of $0.93 per share and sales of $1.01 billion, exceeding expectations of $0.81 and $982.36 million, respectively. CrowdStrike guided Q4 revenue between $1.029 billion and $1.035 billion, compared to estimates of $1.03 billion, and projected non-GAAP earnings of $0.84-$0.86 per share compared to the estimated $0.86. The company’s EPS and revenue guidance for fiscal 2025 exceeded estimates.

Super Micro Computer Inc (SMCI)

+0.81%

Trading higher with volume premarket. The company prepaid and terminated its loan agreements with Cathay Bank and Bank of America on November 20, as disclosed in an SEC filing. The server manufacturer, known for AI infrastructure supporting NVIDIA chips, has been grappling with delayed financial reporting and faces potential delisting from the Nasdaq.

Chinese ADRs

+2.09%

Trading higher as a group following a strong trading session in China, with the CSI 300 Index gaining 1.7% and the Hang Seng gaining 2.3%. Chinese stocks rallied amid speculation that the upcoming Central Economic Work Conference (CEWC) might be held earlier than usual and may introduce new stimulus measures. Unverified reports of a higher 2025 fiscal deficit target for the CEWC fueled optimism, offering relief to investors anticipating stronger policy support from Beijing.

BABA, JD, PDD, BILI, BIDU, LI, ZK, XPEV, NIO

GameStop Corp (GME)

+2.21%

Trading higher premarket amid an influx of attention from retail investors. The stock gained 6% on Monday and 2% on Tuesday with no apparent news catalyst. On Tuesday evening, the company announced that it will be releasing its Q3 2024 earnings report after the bell on Tuesday, December 10.

Symbotic Inc (SYM)

-23.82%

Gapping down after delaying the filing of its 10-K form for fiscal 2024. The company attributed the delay to a revenue recognition error. Symbotic also cut its forecast for Q1 2025 revenue, now projecting revenue between $480 million and $500 million compared to its previous forecast of $495 million and $515 million.

Cyclerion Therapeutics Inc (CYCN)

+61.73%

Gapping up on no apparent news catalyst. The stock has a float of 1.23 million shares and a market capitalization of $5.93 million.