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

0830 - Initial jobless claims: Expected 222k; Prior 216k
0830 - Unit labor costs q/q (prelim) for Q3: Expected 1%; Prior 0.4%
0830 - Productivity q/q (prelim) for Q3: Expected 2.5%; Prior 2.5%
1000 - Wholesale inventories m/m (rev) for September: Expected 0.1%; Prior -0.1%
1400 - FOMC interest rate decision: Expected 4.75%; Prior 5%
1430 - Fed Chair Powell press conference

Qualcomm Inc (QCOM)

+7.08%

Trading sharply higher premarket following earnings report for fiscal Q4 2024, with earnings of $2.69 per share and sales of $10.244 billion beating estimates of $2.56 and $9.905 billion, respectively. The high end of the company’s Q1 2025 revenue and EPS guidance ranges exceeded estimates. Qualcomm also announced a $15 billion buyback program and filed for a mixed-shelf offering.

Arm Holdings PLC (ARM)

-6.32%

Trading sharply lower premarket after its earnings report. Earnings of $0.30 per share beat estimates of $0.26, and sales of $844 million exceeded expectations of $808.368 million. Revenue grew by 5% year-over-year, with royalty revenue up 23% on a year-over-year basis. The company guided Q3 revenue between $780 million and $830 million and projected Q3 sales between $0.23 and $0.27 per share, above the estimated $0.21.

Lyft Inc (LYFT)

+23.54%

Gapping up after a stronger-than-expected Q3 earnings report. Losses of $0.03 per share came in narrower than the expected $0.04-per-share loss, and sales of $1.522 billion beat estimates of $1.44 billion. The company’s gross bookings grew by 16% year-over-year. Lyft guided Q4 gross bookings between $4.28 and $4.35 billion and projected 17% year-over-year growth in gross bookings for fiscal 2024.

Trump Media and Phunware

-10.76%

Both stocks are gapping down in continued volatility as traders react to the 2024 presidential election, which saw Trump Media’s majority shareholder Donald Trump elected President for a second non-consecutive term. Trump Media and Phunware gapped up on Wednesday but gave up some of their gains during the session, with Trump Media closing up 6% and Phunware gaining 16%.

DJT, PHUN

Moderna Inc (MRNA)

+8.67%

Gapping up following its Q3 2024 earnings report. The company reported GAAP earnings of $0.03 per share, compared to estimates of a $1.90-per-share loss, while sales of $1.86 billion beat estimates of $1.25 billion. Moderna maintained its previous guidance for its respiratory segment, expecting $3 to $3.5 billion in net product sales for fiscal 2024.

Chinese ADRs

2.98%

Trading higher as a group following a strong trading session overseas, with both the CSI 300 and the Hang Seng Index making gains. This strength followed the release of China's export data for October, showing that exports surged by 12.7% year-on-year to mark the fastest growth in 19 months and surpass expectations of 5.2%. Imports fell by 2.3%, exceeding the forecasted 1.5% decline.

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

Coinbase Global Inc (COIN)

-2.84%

Pulling back with volume premarket following a 31% surge on Wednesday as Bitcoin made new all-time highs and eclipsed $75,000 for the first time. Co-founder and CEO Brian Armstrong saw the value of his holdings grow by over $2 billion after the rally, which outpaced that of other crypto stocks. Armstrong’s 34.8 million-share stake in Coinbase, as of the company's most recent proxy filing, is now worth just under $9 billion.

Super Micro Computer Inc (SMCI)

+2.64%

Rebounding after dropping 18% on Wednesday following a weaker-than-expected preliminary earnings report, during which the company was unable to provide a timeline for the release of their 10-K filing. Super Micro previously received notice from the Nasdaq that they face delisting because the form has not been filed, and its independent auditor resigned over concerns with the board’s transparency.

Datadog Inc (DDOG)

-3.40%

Trading lower premarket following its Q3 2024 earnings report. The company reported earnings of $0.46 per share, above the estimated $0.40, and sales of $690.016 million, exceeding expectations of $664.319 million. Datadog guided adjusted earnings of $0.42-$0.44 per share for Q4 and $1.75-$1.77 for FY 2024, and projected revenue between $709 million and $713 million for Q4 and $2.656 billion and $2.66 billion for FY 2024.

Solaredge Technologies Inc (SEDG)

-17.14%

Gapping down after its earnings report, with adjusted losses per share widening to $15.33 compared to a $0.55-per-share loss the previous year. Sales of $260.93 million missed estimates of $269.38 million, and the company’s Q4 sales guidance of $180 million to $200 million fell short of the estimated $308.66 million. Piper Sandler downgraded the stock from Neutral to Underweight following the report.