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

0830 - NY Fed manufacturing for September: Expected -4.3; Prior -4.7

Apple Inc (AAPL)

-2.03%

Trading lower premarket as initial demand for its new iPhone 16 Pro models reportedly fell below expectations, according to TF International Securities analyst Ming-Chi Kuo. Despite Apple unveiling advanced AI features in its iPhone 16 lineup last week, Kuo estimates first weekend pre-orders suggest total sales of 37 million units; this includes an estimated 16% decline in iPhone 16 Pro Max orders compared to those for the iPhone 15 Pro Max.

Intel Corp (INTC)

+1.07%

Trading higher premarket after Bloomberg reported that the company qualifies for $3.5 billion in federal grants to produce semiconductors for the U.S. Department of Defense. This report follows a Reuters report on Friday suggesting that the company is set to receive roughly $2 billion towards its new plant in Poland. Reuters also previously reported that CEO Pat Gelsinger and executives are preparing to unveil a restructuring plan later this month; aimed at divesting non-core businesses and optimizing capital spending.

Crypto Stocks

-1.39%

Trading lower as a group in tandem with Ethereum and Bitcoin, both of which are poised for their third straight red day. Bitcoin, which closed above the $60,000 level on Friday, is trading around $58,500 as of Monday morning, while Ethereum is just above the $2,300 level.

MARA, COIN, BITO, IBIT, ETHE, MSTR, RIOT, CLSK, HUT

Trump Media & Technology Group (DJT)

+1.28%

Trading higher premarket following an apparent assassination attempt involving former President Donald Trump, the company’s namesake and largest shareholder, at his Florida golf club. The stock rallied on Friday afternoon after Trump indicated that he would not be selling his shares once the lockup period expires. The expiry is estimated to occur as early as September 19, according to Bloomberg.

Alphabet Inc (GOOGL)

+0.20%

On watch following an analyst note from Evercore ISI. The analyst cut its price target for the stock from $225 to $220 but maintained an Outperform rating, citing short-term headwinds related to the company’s antitrust trial in the U.S. However, Evercore ISI remains bullish on Alphabet due to its continued longer-term potential and the company’s likelihood to perform well financially despite “medium-term” setbacks.

Micron Technology Inc (MU)

-2.69%

Trading lower premarket in possible sympathy with South Korean semiconductor company SK Hynix, which was downgraded to Underweight from Overweight by Morgan Stanley. The analyst attributed the downgrade to a belief that the DRAM pricing cycle is reversing, citing SK Hynix’s weakening NAND business and increased risks from production normalization and higher DRAM and HBM capex post-2024. Micron itself was downgraded from Outperform to Underperform by Exane BNP Paribas on Thursday, September 12, due to concerns over its DRAM pricing due to higher-than-expected HBM capacity.

Upstart Holdings Inc (UPST)

-2.68%

Trading lower premarket after announcing a proposed private offering of $300 million in convertible senior notes due 2029, with an option to purchase an additional $45 million notes. The company also highlighted its intention to repurchase outstanding 0.25% convertible senior notes due 2026.

Alcoa Corp (AA)

+1.34%

Trading higher premarket after announcing a binding agreement to sell its 25.1% stake in the Ma’aden Joint Venture to Saudi Arabian Mining Company (Ma’aden) for approximately $1.1 billion. The deal includes $950 million in Ma’aden shares based on recent average prices and $150 million in cash, with Alcoa retaining its Ma’aden shares for at least three years post-transaction.

NuCana PLC (NCNA)

+189.32%

Gapping up after presenting positive data from a Phase 2 study of its metastatic melanoma treatment. The stock has a market cap of $5.76 million and a float of 2.25 million shares, 2.8% of which are sold short.

Bone Biologics Corp (BBLG)

+71.25%

Trading sharply higher premarket amid an increase in attention from retail traders on social media, despite a lack of an apparent catalyst for the company. The stock has a market capitalization of $1.44 million and a float of 1.69 million shares.