Happy Thursday afternoon to everyone on The Street. Here's a snapshot of where markets ended the trading session, plus tomorrow's trade idea delivered to you today.

• 🟥 | US stocks fell today as November’s PPI echoed yesterday’s CPI report, showing inflation remains stubborn.

• 📈 | One Notable Gainer: Shares of Warner Bros. Discovery soared more than 15% after it announced a restructuring plan that includes moving its hitmaking TV subsidiary HBO into its streaming unit.

• 📉 | One Notable Decliner: Adobe’s stock plummeted nearly 14% on lackluster revenue guidance, stoking fears of AI disruption.

Plus, see a direct index investing account from our partner, Frec, that’s been running since 2023. (Take a look at the savings…)

Sponsored by Frec

Live Demo: See Frec in Action

How much are you looking to invest over the next year?

Still on the fence about Frec? Maybe seeing a real account’s index tracking and tax losses harvested will change your mind.

This account has been running with real funds and real trades since December 5, 2023.

You can look at their top holdings, fees, and best of all the estimated tax savings. 

St. Sheet is not a Frec customer and Frec paid a one-time fee for this full sponsorship. Past performance is not a guarantee of future results. Investing involves risk, including the risk of loss. Brokerage services provided by Frec Securities LLC, member FINRA/SIPC and advisory services provided by Frec Advisers LLC, an SEC RIA. Both wholly owned subsidiaries of Frec Markets, Inc.

MARKET MOVERS

ServiceTitan, Oxford Industries, Celsius Holdings

TTAN (+42.3%) ServiceTitan pops to $101 in cloud software vendor’s Nasdaq debut after selling shares at $71 (CNBC)

OXM (-8.6%) Tommy Bahama Parent Oxford Industries' Results Hurt by Inflation, Hurricanes (Investopedia)

CELH (+7.5%) JP Morgan Sets $37 Price Target for Celsius Holdings, Initiates Overweight Rating (YF)

RIOT (+4.8%) Activist Starboard Value Takes Stake in Bitcoin-Mining Company Riot (WSJ)

CIEN (+15.5%) Ciena Missed Earnings Estimates. Why The Stock Is Soaring. (Barron’s)

OVERHEARD ON THE STREET

Axios: Producer prices rose 0.4% in November, largely driven by a resurgence in “eggflation”.

Reuters: The number of Americans filing new jobless claims unexpectedly rose last week as labor demand cooled.

Bloomberg: US household wealth reached a record, rising $4.8T in Q3 due to higher stock values, though real estate holdings dipped after large gains.

WSJ: YouTube is raising the price of its TV streaming service to $82.99, marking its first rate increase since March 2023.

CNBC: President-elect Donald Trump rang the opening bell for the NYSE today and promised an economic boom to a crowd of traders and business leaders.

TOMORROW’S TRADE IDEA, TODAY

Citi’s Gamer Moment

Don’t Hate the Game

Sounds like Citi (C) analysts have been spending some time with their PS5s.

Video game maker Take-Two Interactive (TTWO) is one of the firm’s favorite stocks as we head into 2025. Analyst Jason Bazinet reiterated his Buy rating and raised his price target to $225, up $25, representing nearly 19% upside from current price levels.

Bazinet said that he believes that sales of its popular game Grand Theft Auto VI, as well as other IPs, will help drive the stock forward.

Getting Ambitious

Bazinet expects Take-Two to see record levels of net bookings in FY 2026 and 2027, thanks to its upcoming product launches.

The developer’s previous titles GTA V and Red Dead Redemption 2 both rank among the top 10 bestselling games of all time, and another marquee title slated for release in the coming years could be a massive boon for the stock.

In addition to GTA VI, Take-Two has plans to release seven games in FY 2025, as well as another 22 in FY 2027. According to the analyst, that is the “most ambitious development pipeline” in the company’s history.

Citi is also bullish on the company’s strong balance sheet.

Wall Street Agrees

According to LSEG data, 25 of 30 analysts currently covering the stock rate it either a Buy or Strong Buy. The stock is already up almost 18% YTD.

Additionally, investment in the firm’s product pipeline is currently sitting at an all-time high of $1.7 billion.

GTA VI has been in production for around a decade, and the fan hype for its release is deafening. If the final product can live up to it, Citi believes the stock could get some love, too.

Sponsored by Frec

Live Demo: See Frec in Action

How much are you looking to invest over the next year?

Still on the fence about Frec? Maybe seeing a real account’s index tracking and tax losses harvested will change your mind.

This account has been running with real funds and real trades since December 5, 2023.

You can look at their top holdings, fees, and best of all the estimated tax savings. 

St. Sheet is not a Frec customer and Frec paid a one-time fee for this full sponsorship. Past performance is not a guarantee of future results. Investing involves risk, including the risk of loss. Brokerage services provided by Frec Securities LLC, member FINRA/SIPC and advisory services provided by Frec Advisers LLC, an SEC RIA. Both wholly owned subsidiaries of Frec Markets, Inc.

ON OUR RADAR

WSJ: President Joe Biden announced the largest single-day act of clemency in modern history, commuting around 1,500 sentences and pardoning 39 people.

Barron’s: Several signs hint at a potential revival in meme stocks like GameStop, Chewy, and DJT.

BI: Public salary data reveals how much xAI pays some workers in comparison to OpenAI.

Bloomberg: Trump advisers are considering raising the SALT write-off limit to $20,000 after Trump vowed to restore the tax break he limited during his first term.

TechCrunch: It appears OpenAI trained Sora on game content, and legal experts warn that could pose potential issues.

WEDNESDAY’S POLL RESULTS

Are you bullish or bearish on American Airlines (AAL) over the next 12 months?

🟩🟩🟩🟩🟩🟩 🐂 Bullish

🟨🟨🟨🟨🟨⬜ 🐻 Bearish