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

0830 - Trade balance for September: Expected -$84B; Prior -$70.4B
0945 - S&P Global composite PMI (final) for October: Expected 55.3; Prior 55.3
0945 - S&P Global services PMI (final) for October: Expected 54.3; Prior 54.3
1000 - ISM services PMI for October: Expected 53.8; Prior 54.9

Palantir Technologies Inc (PLTR)

+13.89

Trading sharply higher following its Q3 earnings report, with earnings of $0.06 per share and sales of $725.516 million surpassing estimates of $0.04 and $701.13 million, respectively. The company guided revenue between $2.805 billion and $2.809 billion for fiscal 2024, above estimates of $2.759 billion, and sees Q4 revenue of $767 million-$771 million compared to estimates of $741.439 million.

Trump Media, Tesla, and Phunware

+3.24%

Trading higher with volume as a trio as market participants await the results of the US Presidential election on Tuesday, November 5. All three stocks are linked to Republican candidate and former US President Donald Trump; Trump Media and Phunware are each up 9% premarket and often trade in tandem, while Tesla CEO Elon Musk has endorsed Trump.

DJT, TSLA, PHUN

Crypto Stocks

+2.73%

Trading higher as a group in tandem with Bitcoin, which is poised to break a six-day losing streak. The cryptocurrency has been pulling back since it reached above $73,500 on October 29, near all-time highs, and traded as low as $66,750 on Monday. Bitcoin is trading just below $68,700 as of early Tuesday. The crypto space is also on watch amid the US Presidential election due to ongoing regulatory concerns within the industry.

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

Super Micro Computer Inc (SMCI)

+3.34%

On watch ahead of its earnings report and subsequent “business update call” for fiscal Q1 2025, scheduled at 5:00 PM ET on November 5. The call was announced last Wednesday, after the company announced the resignation of its independent auditor over concerns with the governance and reliability of its board. Analysts are expecting Super Micro to post earnings of $0.51 per share and revenue of $6.52 billion for the quarter.

The Boeing Company (BA)

+1.53%

Trading higher premarket after 59% of the company’s machinists’ union voted in favor of a proposed labor contract, ending its weeks-long strike. The contract, the fourth that Boeing has offered since the strike began on September 13th, involves wage increases of 38% over a four-year period and will see the machinists return to work by November 12.

Chinese ADRs

+2.17%

Trading higher as a group as China’s lawmakers begin a week-long review of a large-scale fiscal stimulus package, potentially totaling 10 trillion yuan over three years, to support local governments and revive economic confidence. Key measures include raising local government debt limits, converting "hidden debt" into formal debt, and increasing the fiscal deficit target to 3.6% of GDP.

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

Hims & Hers Health (HIMS)

+8.38%

Trading sharply higher premarket following its earnings report. Earnings of $0.32 per share exceeded estimates of $0.04 per share, and sales of $401.6 million surpassed expectations of $382.2 million. The company raised its fiscal 2024 revenue guidance to a range between $1.46 billion and $1.465 billion, above estimates of $1.396 billion. Roughly 18.2% of the stock’s float is sold short.

Astera Labs Inc (ALAB)

+24.74%

Gapping up after its Q3 2024 earnings report. The company reported adjusted earnings of $0.23 per share and sales of $113.09 million, above estimates of $0.17 and $97.44 million, respectively. Astera guided Q4 revenue between $126 million and $130 million and forecast earnings between $0.25 and $0.26 per share for the same period.

Avalon Globocare Corp (ALBT)

+90.18%

Gapping up on no apparent catalyst. The stock has a market capitalization of $2.39 million and a float of 400,000 shares, approximately 62.9% of which are insider-owned and 3.45% of which are sold short.

ZyVersa Therapeutics Inc (ZVSA)

+47.25%

Trading higher premarket after presenting data on the potential of inflammasome inhibition to protect pancreatic beta cells and slow the progression from obesity to insulin resistance and type 2 diabetes. The stock, which has rallied in the past, has a market capitalization of $1.96 million and a float of 1.07 million shares.