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 Thursday as the post-election rally paused amid rate cut caution from Federal Reserve Chair Jerome Powell.

• 📈 | One Notable Gainer: Tapestry’s stock surged 12.8% after the Coach-owner scrapped its planned merger with Michael Kors-parent Capri.

• 📉 | One Notable Decliner: Cybersecurity stocks slumped, led by a 13.6% decline from Leidos, on fears of what generative AI and a second Trump term may mean for the sector.

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

Disney, Tesla, Rivian

DIS (+6.2%) Disney stock jumps as earnings, streaming profit, and guidance top estimates (YF)

TSLA (-5.8%) / RIVN (-14.3%) Rivian, Tesla Slide on Report Trump Plans to Nix EV Tax Credit (Bloomberg)

WYNN (+8.7%) Wynn Resorts soars as Fertitta reports 9.9% passive stake; may become activist soon (SeekingAlpha)

ENPH (+5.3%) / FSLR (+7.1%) America’s Struggling Solar Industry Has a New Comeback Plan (Barron’s)

SMCI (-11.4%) Super Micro delays filing September-quarter report as delisting looms (Reuters)

OVERHEARD ON THE STREET

CNBC: Fed Chair Powell signaled a cautious approach to rate cuts, saying the central bank does not “need to be in a hurry to lower rates”.

AP: Wholesale prices in the US rose 0.2% from September to October and 2.4% year-over-year, signaling persistent inflationary pressures.

Reuters: President-elect Donald Trump's transition team plans to eliminate the EV tax credit, a $7,500 consumer tax credit for electric vehicle purchases.

CNN: Ford faces a $165M fine after the National Highway Traffic Safety Administration determined the company delayed recalling cars with faulty rearview cameras.

WSJ: Boeing hired an executive from defense rival Northrop Grumman to lead its Phantom Works division, which oversees Pentagon research.

TOMORROW’S TRADE IDEA, TODAY

Zyn’s Wall Street Takeover

Making Moves

Finance bros are famously in on Zyn. Now financial firms are too.

Goldman Sachs (GS) is bullish on Philip Morris (PM), largely due to its pivot away from traditional tobacco toward smoke- and tobacco-free products like Zyn, a popular brand of nicotine pouches. 

Analyst Bonnie Herzog gave the stock a $150 price target, about 17% upside from today’s close. Herzog also assigned the stock a Buy rating and highlighted it as a top stock for 2025.

Investing in the Future

Herzog also expressed optimism about the company's long-term EPS growth, which she projects to hit double digits, thanks to its smoke-free products.

The tobacco giant’s goal is to have these products account for two-thirds of its business by 2030. Philip Morris announced earlier this year that it is investing $600 million to build a new production facility for its Zyn products in Colorado.

This new facility will help shore up its supply chain — and, according to Herzog, should bode well for the stock price as well.

Expecting an Earnings Beat

Herzog believes Philip Morris’ Q4 earnings will come in above expectations, and that guidance for FY 2025 will be strong. The analyst also cited the US debut of its heated tobacco product, Iluma, as a likely catalyst for growth. 

The stock is up more than 36% YTD, so it has plenty of momentum. Goldman Sachs believes its continued push toward new products could set it up for continued success as well.

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

CBS: The US House is expected to pass a Social Security-related bill aimed at securing benefits for workers also eligible for other pensions.

Quartz: A Trump administration could boost merger activity, but could pose challenges for Lina Khan and the FTC — and, by extension, Big Tech.

Barron’s: Read how Jensen Huang transformed NVIDIA from a struggling startup into the world’s most valuable company over the past three decades.

CNBC: Trump will nominate vaccine skeptic and conspiracy theorist Robert F. Kennedy Jr. as Health Secretary.

WSJ: In the most “2024” M&A move imaginable, The Onion, a satirical news publication, will acquire the right-wing conspiracy website Infowars.

WEDNESDAY’S POLL RESULTS

Are you bullish or bearish on Twilio (TWLO) over the next 12 months?

🟩🟩🟩🟩🟩🟩 🐂 Bullish

🟨🟨🟨⬜️⬜️⬜️ 🐻 Bearish