CLOSING BELL
We're Back (For A Little)

The market climbed to start a short holiday week Monday, big tech leading the way higher. It was the best day for the S&P 500 in six weeks, and the QQQ climbed the most since May. It’s a short week, but it started green.

Morgan Stanley Analyst Michael Wilson said in a note that he sees volatility slowing down, and to buy the dip: “Any further weakness in the short-term as an opportunity to add long exposure into next year.”

Blomberg reported Wilson and MS are bullish on consumer discretionary, healthcare, financials, industrial, and small-cap stocks. Wilson also said a possible FOMC rate cut in two weeks could send prices higher. Speaking of, Fed Reserve Gov. Waller and San Fran Fed Pres Mary Daly said they were voting for a cut to help the labor market, joining John Williams in the same call last week. CME futures jumped to an 84% chance of a cut.

It’s also Thanksgiving week, so aside from braving the planes, trains, and automobiles to get home for turkey day, Americans will also be Christmas shopping. Consumers are expected to spend $622 between Black Friday and Cyber Monday, a Deloitte survey found.

In the White House, the president held a phone call with long-distance pen pal Xi, and the admin said it was aiming for a 2-year Obamacare extension, sending stocks like Oscar Health ripping. 👀

9 of 11 sectors closed green. Tech $XLK ( ▲ 2.38% ) lead and staples $XLP ( ▼ 1.16% ) lagged.

 $SPY ( ▲ 1.47% )  $QQQ ( ▲ 2.56% )  $IWM ( ▲ 1.83% )  $DIA ( ▲ 0.4% ) 

AFTER THE BELL
Zoom Climbs, Beats Earnings 📹️ 

Zoom $ZM ( ▼ 0.04% ) rose Monday in the post-market, posting adjusted earnings in the third quarter of $1.52/share. The video conferencing software company beat Street estimates of $1.44, a 10.1% jump from last year. Revenue climbed 4.4% to $1.23 billion, narrowly beating the consensus of $1.21 billion.

What’s Driving the Beat? The quarter highlights show this is a story of profitability and platform expansion, not a sudden surge in growth.

• The Enterprise Engine is Strong: Enterprise revenue grew 6.1% to $741.4M, maintaining its lead as the key revenue driver. Crucially, the number of customers contributing over $100,000 in TTM revenue grew 9.2% (to 4,363), suggesting success in cross-selling.

• The Power of AI: CEO Eric Yuan highlighted that adoption of AI Companion is growing 4x YoY and that nine of their top ten customer experience (CX) deals involved paid AI features (like Virtual Agent), signaling a clear path to AI monetization.

• Cash Flow and Buybacks: The company's disciplined approach led to a massive 30% YoY jump in Operating Cash Flow to $629.3M. This financial strength allowed the board to authorize an additional $1.0 billion for its share repurchase program, further signaling management’s confidence and commitment to boosting shareholder returns

Zoom has morphed from a pandemic-era growth darling into a high-margin, cash-generating machine that is expertly managing its costs while expanding its product suite (Zoom Phone, Zoom Contact Center) and leaning heavily into AI.

The real headline? ZM's full-year outlook is looking significantly better than previously thought. Zoom significantly raised its Fiscal Year 2026 forecast, projecting adjusted EPS of $5.95–$5.97 (a big win over the Street's $5.88 estimate) and revenue of $4.852–$4.857 billion (beating the analyst consensus of $4.834 billion).

This improved guidance signals management's confidence in higher profitability and an additional $20 million+ in top-line sales, showing their cost management and enterprise growth strategies are paying off better than expected.

According to Koyfin, the average analyst’s estimate for Zoom stock is $93.04, implying about 18% upside from current levels.

$SNDK ( ▲ 13.33% ) was climbing Monday, and flew 7% higher after the bell, when Barron’s reported the Small Cap leader would join the S&P 500 Nov. 28.

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CRYPTO NEWS
When Bitcoin And Meme Stocks Go Together: Market Both 🥇 

Activist investor and Opendoor bull Eric Jackson is rolling out a new product called $EMJX, the meme stock investor said over the weekend, calling it a Gen 2 multi-asset AI treasury. It was a Sunday twitter post that really marks an era, with the most hype retail trader buzzwords this season all in one place.

Jackson said he wasn’t buying crypto treasury companies like $MSTR ( ▲ 5.01% ), and instead is launching his own, but did not specify what that meant, or even what asset the treasury stock will target.

Jackson indicated that $EMJX is not an ETF or ETP, focusing on this unique derivative product instead of buying into existing crypto-treasury firms. Jackson also called out Shopify, $SHOP ( ▲ 5.08% ) saying the digital storefront provider needed to start using AI big time or risk a loss of market share.

Speaking of MSTR, chief Michael Saylor struck a defiant tone over the weekend after JPMorgan analysts warned that $MSTR risked exclusion from major indices like the MSCI USA Index.

MSCI warned it was considering cutting treasury companies from its major index lists, and other companies might follow suit. Saylor pushed back, clarifying that $MSTR is a "publicly traded operating company with a unique treasury strategy that uses Bitcoin as productive capital," not merely a fund or trust. His comments fueled calls for a JPMorgan boycott by loyal Bitcoin advocates. Good luck boycotting the largest bank in the U.S.

Want the full story? Tap the links below:

• Opendoor Bull Eric Jackson Is Launching A New Product To Make The Most Of Crypto Treasury Firms

• Michael Saylor ‘Won’t Back Down’ As Bitcoin Loyalists Call To Boycott JPMorgan Amid Buzz Of MSTR Removal From Key Index

• Opendoor Bull Eric Jackson Says AI Won't 'Kill' Shopify But Will 'Compress' Its Moat — Unless It Pivots Quickly

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POPS & DROPS
Top Stocktwits News Stories 🗞️ 

• President Trump said he had a "very good call" with Xi Jinping on trade. 

• Grindr stock sank after its board halted buyout talks over financing concerns.

• Spot gold is on track to snap a two-day loss due to Federal Reserve rate cut hopes.

• Ondas stock climbed 29% as defense deals and investments fueled investor optimism.

• Dogecoin ETF launched on NYSE, though an analyst predicts the hype will be short-lived.

• Capricor Therapeutics stock fell 19% after Martin Shkreli announced a short position.

  Don’t miss a story! Follow @StocktwitsNews for a live feed in real time. ✍️ 

WHAT’S ON DECK
Tomorrow’s Top Things 📋

Economic data: ADP Employment Change Weekly (8:15 AM), PPI (8:30 AM), Pending Home Sales MoM (10:00 AM), Atlanta Fed GDPNow Q4 (12:00 PM), 5-Year Note Auction (1:00 PM). 📊
Pre-Market Earnings: Castor Maritime Inc ($CTRM), Anavex Life Sciences Corporation ($AVXL), Kohl`s Corp. ($KSS), and Best Buy Co. Inc. ($BBY). 🛏️
After-Market Earnings: Cleanspark Inc ($CLSK), Dell Technologies Inc ($DELL), and Zscaler Inc ($ZS). 🌕️ 

Alibaba Group Holding $BABA ( ▲ 5.1% ) : EPS estimate $0.66, revenue estimate $34.43B

Best Buy Co. Inc. $BBY ( ▼ 1.09% ) : EPS estimate $1.31, revenue estimate $9.58B

Analog Devices $ADI ( ▲ 3.05% ) : EPS estimate $2.22, revenue estimate $3.01B

NIO Inc. $NIO ( ▲ 3.05% ) : EPS estimate -$0.24 (loss), revenue estimate $3.26B

Dell Technologies $DELL ( ▲ 3.85% ) : EPS estimate $2.48, revenue estimate $27.27B

HP Inc. $HPQ ( ▲ 1.75% ) : EPS estimate $0.91, revenue estimate $2.42B

Workday, Inc. $WDAY ( ▲ 0.67% ) : EPS estimate $2.12, revenue estimate $2.41B

P.S. You can listen to all of these earnings calls on Stocktwits.

Links That Don’t Suck 🌐

📈 Broadcom is joining Alphabet in the AI rally. Why investors are jumping in

🎩  Fed's Daly says vulnerable job market justifies Dec. rate cut - report

😨 Execs say OpenAI has first hardware prototypes, plan to reveal device in 2 years or less

🧧 Trump, Xi hold first call since US-China truce; signs of US-EU friction emerge

🤖 AI super PAC launches $10 million campaign pushing ‘uniform’ national policy

📺️  Amazon to spend up to $50 billion on AI infrastructure for U.S. government

Get In Touch 📬

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