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 finished higher, led by the Dow, as investors swapped tech stocks for names poised to benefit from the strength of the broader economy.

• 📈 | One Notable Gainer: Salesforce’s stock rose more than 3% on news it is planning layoffs at its most recent acquisition, data protection and data management firm Own.

• 📉 | One Notable Decliner: Shares of Google-parent Alphabet slumped nearly 5% after the US Justice Department called for its breakup and proposed that the tech giant divest its internet browser Chrome.

Plus, today’s partner wants to help you unlock peak performance, better mood, and more drive to crush your goals.

Sponsored by Maximus

Maximize your productivity and win more trades

For productivity around trading.

Diet, exercise, and healthy habits can only do so much to boost your productivity…

Take it to the next level with Enclomiphene from Maximus — an innovative solution that raises your testosterone without compromising natural production.

When you’re up against the clock and facing high-stakes decisions, low T doesn’t have to hold you back. 

Unlock peak performance, better mood, and more drive to crush your goals, every day with Maximus’ testosterone protocols

MARKET MOVERS

NVIDIA, Deere & Co, PDD Holdings

NVDA (+0.5%) Nvidia stock seesaws following earnings beat, strong outlook as 'age of AI is in full steam' (YF)

DE (+8.1%) Deere’s earnings tumble but still blow past estimates as company offers soft guidance on weak demand (MarketWatch)

PDD (-10.6%) Temu owner PDD misses revenue and profit estimates as consumers struggle (Reuters)

AMTM (+10.7%) Amentum Stock Is Leading the S&P 500. What We Know. (Barron’s)

SMCI (+15.1%) Super Micro Computer: Bargain Buying Opportunity Has Finally Arrived (Upgrade) (SeekingAlpha)

OVERHEARD ON THE STREET

CNBC: SEC Chair Gary Gensler will resign in January, clearing the way for President-elect Donald Trump to select a replacement immediately.

CNN: BJ's Wholesale Club is raising its annual membership fee by $5 to $60, its first hike since 2018.

Reuters: U.S. weekly jobless claims hit a seven-month low in October, while existing home sales bounced back as well.

WSJ: Robert F. Kennedy Jr.'s calls to remove artificial food dyes are increasing pressure on Kellogg’s and other processed food giants.

BI: NVIDIA’s Blackwell era will challenge the company to deliver performance leaps and manage supply-side pressures to meet high expectations for its next-gen AI chip.

TOMORROW’S TRADE IDEA, TODAY

Netflix Throws a Knockout Punch

Changing the Streaming Game

Last Friday, Netflix (NFLX) aired the highly-anticipated Jake Paul vs. Mike Tyson fight. Anecdotally, its first major foray into live sports drew mixed responses. Statistically, it was a knockout punch.

The stream attracted 108 million worldwide viewers, and 65 million concurrently. As a result, Pivotal Research Group opted to raise its price target on the stock to a Street-high $1,100, representing nearly 23% upside from current prices.

To justify the upgrade, the firm cited increased subscriber and revenue expectations over the long term.

Expect More Live Events

Analyst Jeffrey Wlodarczak said that he expects Netflix to expand live events programming in the wake of the fight's success. In turn, this should help increase subscriber retention and pricing power.

Netflix already maintains a strong position relative to its competitors, the analyst added. While many streamers are still hemorrhaging subscribers, Wlodarczak highlighted Netflix’s strong free cash flow and subscriber results as cause to be bullish.

Stop the Fight

The analyst also holds the belief that Netflix’s competitors will sell premium content to Netflix in order to offset poor streaming returns and access Netflix’s massive audience.

Netflix is hardly a hidden gem. The industry leader’s stock is up more than 90% YTD and more than 15% in the past month alone.

But it has outperformed its rivals and the company’s guidance reflects confidence it will continue to do so. Wlodarczak, for his part, agrees: the streaming match is over, he believes, and Netflix has won handily.

Sponsored by Maximus

Maximize your productivity and win more trades

For productivity around trading.

Diet, exercise, and healthy habits can only do so much to boost your productivity…

Take it to the next level with Enclomiphene from Maximus — an innovative solution that raises your testosterone without compromising natural production.

When you’re up against the clock and facing high-stakes decisions, low T doesn’t have to hold you back. 

Unlock peak performance, better mood, and more drive to crush your goals, every day with Maximus’ testosterone protocols

ON OUR RADAR

CNBC: Matt Gaetz withdrew from consideration as Trump’s pick for US attorney general amid allegations of sexual misconduct.

WSJ: Elon Musk and Vivek Ramaswamy plan to reduce the ranks of civil servants by ordering the nation’s largest workforce back to the office full-time.

Barron’s: Bitcoin surged toward six figures today, continuing its record-breaking rally.

MarketWatch: The Biden administration is canceling $4.65 billion in debt owed by Ukraine to support its war effort before Trump takes office.

Financial Times: EV battery start-up Northvolt AB filed for Chapter 11 bankruptcy protection in the US.

WEDNESDAY’S POLL RESULTS

Are you bullish or bearish on WeRide (WRD) over the next 12 months?

🟩🟩🟩🟩🟩🟩 🐂 Bullish

🟨🟨🟨🟨🟨⬜️ 🐻 Bearish