Crude oil jumping and 10-year yields popping to 2.5-month highs pressured the small-cap Russell 2000 as stock investors focused on the latest earnings results and announcements. Nvidia hit a new all-time high and is just a few percentage points from topping Apple as the largest stock in the world. Maybe this is the week. 👀

Today's issue covers  Nvidia notching new all-time highs, several noteworthy pops and drops, and quotes from day one of Stocktoberfest 2024. 📰

Here’s the S&P 500 heatmap. 1 of 11 sectors closed green, with technology (+0.47%) leading and real estate (-2.07%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $GNPX, $SNSE, $APVO, $VVI, $SAP 📉 $ULY, $HTZ, $EDIT, $ARQQ, $TXN*

*If you’re a business and want to access this data via our API, email us.

It was a relatively quiet day in the markets, but the move catching eyes is clearly Nvidia breaking out of its 4-month base to new all-time highs. The semiconductor stock continues to rise, even as investor sentiment remains mixed due to the latest earnings reports from its peers.

The stock is less than 2% from topping Apple as the world's largest company. And if this breakout holds, many expect that flip to happen this week. 📈

With most “Magnificent Seven” companies pushing their reports back to next week or beyond, Tesla is the main focus. It’ll report Wednesday after the bell, and with shares down 20% from their year-to-date highs, Stocktwits community sentiment is stuck in neutral. As a result, the world will be watching to see what happens and whether Tesla shares are worth holding into 2025.

We’ll have a full day of programming ahead of the earnings results. Add $TSLA to your Stocktwits watchlist to get a notification when the earnings call is live, and you can tune in to listen with the whole community on our app or website. 🚨

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*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here. tastytrade, Inc., and Stocktwits are separate and unaffiliated companies that are not responsible for each other’s services, products, and policies.

Kenvue: The Johnson & Johnson consumer health spinoff popped nearly 10% on news that activist investor Starboard Value has taken a large stake in the company. 💊

Boeing: Shares jumped 3% after the aircraft maker and its machinists’ union reached a new contract proposal, including a 35% wage increase, that could end a monthlong strike if approved and ratified on Wednesday. 🤝

Warber Parker: Goldman Sachs upgraded the eyeglass maker and retailer from ‘neutral’ to ‘buy,’ citing margin growth potential and solid fundamentals supporting a “somewhat elevated’ valuation. Shares rose over 6% on the day. 😎

AppLovin: The mobile tech company soared 9% after Bank of America nearly doubled its price target from $120 to $210 while maintaining a ‘buy’ rating. Analysts cited its latest AI-powered ad tech software, Axon 2, as the underappreciated catalyst. 📱

SolarEdge: The solar company slipped another 5% after TD Cowen downgraded the stock from ‘buy’ to ‘hold’ and slashed its price target from $35 to $16. It cited deteriorating demand in Europe, pushing its cashflow breakeven forecast from 1H to 2H 2025. 🌦

SecureWorks: Thoma Bravo-backed cybersecurity firm Sophos will acquire SecureWorks for $859 million in cash to strengthen its product lineup for enterprise customers. Dell acquired SecureWorks for $612 million in 2011 before listing its shares on the NYSE in 2016. 🛡

The Stocktwits team, its sponsors, speakers, and attendees have gathered on Coronado Island in San Diego for Stoctkoberfest 2024. There are hundreds of folks here, but if you couldn’t make it, we’ve got you covered with quotes and coverage from the day.

Stocktwits Co-Founder and CEO of Howard Lindzon: “It has never been easier to invest, but it’s never been harder to stay invested.” Speculation as entertainment continues to be a major theme in 2024 and beyond. A prime example is global sports betting, which has grown 58% YoY to a $400+ billion market annually. 🤑

VanEck COO Adam Phillips: “The largest hedge funds and my mom can trade the same ticker… ETFs open up asset classes…” And if you want a crazy stat…VanEck’s semiconductor ETF $SMH has swelled to 25% of the firm’s assets under management (AUM). Talk about a bull market… 🤯

LA Golf Founder & CEO Reed Dickens: The golf market is 15 times the size of baseball, and people over 50 account for $0.55 of every dollar spent in the industry.

The 1916 Company Co-Founder and Executive Chairman, Justin Reis: The key to brand is building real customer relationships. One way to do that is to have them know at least two employees at your company. Do that, and they will stick around. 👍

cllct Founder Darren Rovell: The collectibles market continues to grow rapidly, and it’s not just the typical assets like jerseys, cards, and others you’d expect. Did you know that historically signed checks are now an investible asset class? Now you do. 😂

Stocktwits President & GM: If you need a reason to be on Stocktwits and use our data, understanding where retail investor/trader attention is flowing can yield real alpha. See the chart below from our partner Context Analytics for more. 🤩

Economic data: ECB President Lagarde Speech (10:00 am ET), Fed Harker Speech (10:00 am ET), Richmond Fed Manufacturing (10:00 am ET), ECB President Lagarde Speech (3:15 pm ET). 📊

Pre-Market Earnings: GE Aerospace ($GE), General Motors ($GM), Verizon Communications ($VZ), Lockheed Martin ($LMT), Freeport-McMoRan ($FCX), and 3M ($MMM). 🛏️

After-Hour Earnings: Enphase Energy ($ENPH), Texas Instruments ($TXN), Seagate Technologies ($STX), Range Resources ($RRC), Canadian National Railways ($CNI). 🎧

P.S. You can listen to all of these earnings calls and more straight from the Stocktwits app or website. You’ll find them on the calendar page and individual symbol pages once they’re set to begin! We’ll see you there. 👍

🆘 Concerned about election season volatility? Let IBD Digital be your guide—get 2 months for $12*

👯‍♀ Cooper Hefner plots $100M Playboy acquisition (exclusive)

🧑‍💼 Major shakeup at Disney: Board chair is out. New CEO is coming soon

📺 Chick-fil-A is releasing its own entertainment app, with family-friendly shows and podcasts

⚖ Supreme Court rebuffs challenge to job protections for consumer watchdog leaders

🤖 Microsoft to roll out new autonomous AI agents next month, fending off challenge from Salesforce

*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.

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