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

1000 - UMich consumer sentiment (prelim) for November: Expected 71; Prior 70.5
1000 - UMich 5-yr inflation expectations (prelim) for November: Expected 3%; Prior 3%
1000 - UMich 1-yr inflation expectations (prelim) for November: Expected 2.7%; Prior 2.7%
1100 - Fed’s Bowman speaks

Super Micro Computer Inc (SMCI)

+4.12%

Continuing to trade higher premarket after closing 12% higher on Friday. The stock has been rebounding following a series of setbacks for the company, including the resignation of its independent auditor and its delayed 10-K filing. Super Micro has a 20.1% short float.

DraftKings Inc (DKNG)

-6.00%

Trading sharply lower premarket following its earnings report. Losses of $0.17 per share were narrower than the expected $0.42-per-share loss, but sales of $1.095 billion missed estimates of $1.112 billion. The company lowered its fiscal 2024 revenue guidance to a range between $4.85 billion and $4.95 billion, missing estimates of $5.139 billion.

Upstart Holdings Inc (UPST)

+19.87%

Gapping up following its earnings report, with loss of $0.07 per share and sales of $162.14 million beating analysts estimates of a $0.15-per-share loss and $150.22 million in sales. The company reported year-over-year and sequential growth in total fee revenue and lending volume, and guided $180 million in revenue for Q4.

Chinese ADRs

-4.56%

Trading sharply lower premarket, matching losses for both the CSI 300 and Hang Sang Index during Friday’s session in China. The week-long meeting of the National People’s Congress Standing Committee, which is expected to discuss the logistics of a potential stimulus package, is coming to an end on Friday. Investors are closely watching for announcements on local government debt refinancing and potential fiscal stimulus to counter economic concerns and geopolitical risks.

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

Rivian Automotive Inc (RIVN)

+0.30%

On watch following its Q3 2024 earnings report. Losses of $0.99 per share were wider than the expected $0.92-per-share loss, and sales of $874 million missed estimates of $1 billion. Operating expenses for the quarter dropped on a year-over-year basis, and the company noted $6.74 billion in cash and equivalents by the end of the quarter. CEO RJ Scaringe said that Rivian is looking to reach positive gross profit for Q4 2024.

Airbnb Inc (ABNB)

-6.43%

Trading sharply lower premarket following its earnings report. GAAP earnings of $2.13 per share missed estimates of $2.16, and sales of $3.7 billion missed estimates of $3.72 billion. The company guided Q4 revenue between $2.39 billion and $2.44 billion, well below the expected $3.717 billion, and forecasts sequential growth for Nights and Experiences bookings.

Affirm Holdings Inc (AFRM)

-2.13%

Trading lower premarket following its earnings report. The company reported losses of $0.31 per share, better than the expected $0.35-per-share loss, and sales of $698.479 million beat estimates of $664.014 million. Affirm reported a 25% increase in transactions per active consumer and an 11% increase in trailing 12-month GMV per active consumer. The company guided Q2 revenue between $770 million and $810 million.

Trump Media and Phunware

-6.72%

Continuing to sell off as a pair following the election of Donald Trump. The stocks initially gapped up on Wednesday morning, when Trump’s victory was announced, but pared early gains and traded sharply lower on Thursday. Phunware is additionally on watch following its earnings report; the company reported a smaller-than-expected loss per share, though sales of $665,000 came in sharply below the estimate of $1.31 million.

DJT, PHUN

Lucid Group Inc (LCID)

+2.70%

Trading higher premarket with volume after posting stronger-than-expected Q3 2024 earnings. Sales of $200.04 million beat estimates of $197.97 million, and losses of $0.28 were narrower than the expected loss of $0.30. Lucid reported year-over-year increases in its Q3 vehicle production and deliveries, maintaining its production target of 9,000 vehicles for fiscal 2024.

Vision Marine Technologies Inc (VMAR)

+41.84%

Gapping up after regaining Nasdaq listing compliance. The stock has a market capitalization of $2.34 million and a float of 650,000 shares, approximately 15.4% of which are sold short.