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Below are AI-generated insights on today's premarket moves, powered by MarketReader technology.

Tuesday, November 03

Noteworthy macro moves today: USD/CNH +0.3%. Copper -2.3%. Hang Seng 50 Index (China) +0.9%. Noteworthy US mega-cap moves today: Palantir Technologies Inc. (PLTR) -6.0%. Micron Technology, Inc. (MU) +4.8%. Apple Inc. (AAPL) -4.6%.

Global equity indices are trading generally flat as markets assess mixed signals ahead of the U.S. midterm elections. In the U.S., equity indices are mixed, with the Nasdaq 100, Russell 2000, and S&P 500 showing gains while the Dow is lower. This divergence follows a recent report indicating that the RCM/TIPP Economic Optimism Index rose to 48.5 in November from 46.8 in October, surpassing market expectations of a decline to 46.2.

In Europe, indices are also mixed; the CAC 40 and Euro Stoxx 50 are higher while the FTSE 100 and AEX are lower. The French budget balance reported today showed a deficit of €159.2 billion for January-September, slightly narrowing from €159.6 billion previously but still reflecting rising expenditures outpacing revenues.

Asian markets are trading mixed as well, with notable movements such as the Hang Seng Index rising by approximately 0.9%. However, Japan's cash markets are closed today for Culture Day, limiting overall activity in that region.

Market sentiment remains cautious as investors weigh potential impacts from upcoming economic data releases and geopolitical developments related to oil prices and U.S.-Iran relations.

iShares MSCI South Korea ETF (EWY) [+3.4%]
The iShares MSCI South Korea ETF is advancing in pre-market trading, driven by strong gains in key holdings including SK Hynix, SK Telecom, and Korea Electric Power Corp. Notably, SK Hynix's discussions regarding its first U.S. NAND plant have boosted sentiment in the semiconductor sector. Additionally, the broader market is influenced by a slight increase in South Korea's consumer price index, which may affect monetary policy. The Nasdaq 100 Index is also higher, reflecting a positive trend in technology stocks.

VanEck Semiconductor ETF (SMH) [+2.6%]
Nvidia's endorsement of a significant merger and its strategic adjustments regarding Chinese customers have positively influenced the semiconductor sector, leading to strong gains in key holdings such as Nvidia, Analog Devices, AMD, Micron, and KLA. Additionally, AMD is benefiting from Samsung's plans to produce memory chips for both itself and Nvidia, while Micron and KLA have seen gains due to favorable analyst updates for Lattice Semiconductor. Overall, the semiconductor sector is experiencing upward momentum amid expectations of robust demand and earnings performance. The VanEck Semiconductor ETF is advancing in pre-market trading. Social media posts noted a selloff in Apple and Palantir, which some users suggest has sparked a rally in the ETF.

iShares Silver Trust (SLV) [-1.7%]
iShares Silver Trust is experiencing a decline during pre-market hours, reflecting broader market pressures. Silver prices are falling amid geopolitical tensions following a U.S. military strike on Iran's Qeshm Island and a sharp drop in crude oil prices. Platinum, which historically correlates with silver, is also lower due to these developments. The Reserve Bank of Australia's recent interest rate hike to an 18-year high in response to inflationary pressures adds to the negative sentiment in commodity markets. SLV has retraced from a high point shortly after Monday's close and is trading significantly below its 20-day moving average and near the lower end of its one-month range.

FISV | +9.9% | +3.0B
Fiserv Inc | Financials
Fiserv Inc reported a third-quarter net loss of $5.94 billion, or $11.17 per share, a significant decline from a profit of $792 million a year earlier. However, adjusted earnings per share of $1.75 exceeded analyst expectations of $1.72, and revenue for the quarter was $5.20 billion, slightly above forecasts. The company reaffirmed its fiscal 2026 adjusted EPS guidance of $7.20 to $7.40 and raised its Project Elevate savings target to $1 billion from $500 million. Additionally, Fiserv announced plans to repurchase $500 million of stock in Q4 2026. These developments have contributed to the stock's performance today, with shares trading sharply higher in pre-market hours. Social media posts highlighted key metrics from the earnings report, including flat organic revenue growth and a significant goodwill impairment charge of $6.45 billion.

LSCC | +10.3% | +1.5B
Lattice Semiconductor Corporation | Information Technology
RBLT raised its price target for Lattice Semiconductor Corporation from $175 to $200 while maintaining a Buy rating, contributing to a sharply higher stock price in pre-market trading. KeyB reiterated an Overweight rating after the company reported strong results, and DBAB also increased its price target to $150, reiterating a Buy rating after Lattice posted impressive quarterly results that exceeded expectations. The company reported third-quarter revenue of $291 million, a 118% year-over-year increase, with adjusted earnings per share of $0.72, surpassing estimates. Guidance for the fourth quarter anticipates revenue between $325 million and $345 million. Social media posts noted the strong demand for FPGA revenue, which reached approximately $251.9 million, reflecting growth driven by data center AI applications.

NBIX | +8.7% | +1.4B
Neurocrine Biosciences, Inc. | Health Care
Canaccord analyst Sumant Kulkarni raised the price target for Neurocrine Biosciences to $220 from $210 while maintaining a Buy rating. This update follows positive financial news, including a significant increase in net sales guidance for INGREZZA to between $2.9 billion and $2.93 billion, alongside a 41% year-over-year revenue growth to $1.1 billion for Q3 2026. These developments reflect strong demand for the company’s products and robust financial performance. In pre-market trading, shares of Neurocrine Biosciences are sharply higher, building on a strong after-market session yesterday.

GRAB | +10.5% | +1.4B
Grab Holdings Limited | Industrials
Grab Holdings Limited shares are sharply higher in pre-market trading following the company's announcement of an increase in its full-year revenue and adjusted EBITDA guidance. For the third quarter, Grab reported revenue of $1.11 billion, surpassing analyst expectations of $1.05 billion, and marking a 27% year-over-year increase. Adjusted EBITDA reached a record $237 million, reflecting a 73% year-over-year growth. The company raised its full-year 2026 revenue outlook to between $4.15 billion and $4.20 billion, up from the previous range of $4.10 billion to $4.15 billion. Social media posts highlighted the significant growth in monthly transacting users, which reached 57 million, and noted that all three of Grab's core segments—mobility, deliveries, and financial services—are now profitable.

FN | +9.4% | +1.2B
Fabrinet | Information Technology
Fabrinet's stock is experiencing a sharp increase in pre-market trading following several analyst updates. Rosenblatt maintained a Buy rating while lowering its price target to $600, and Needham reiterated its Buy rating with a price target of $500. JPMorgan also raised its price target to $470 from $465 while keeping a Neutral rating. These ratings come after Fabrinet reported strong Q1 fiscal 2027 results on November 2, with earnings of $4.34 per share and revenue of $1.47 billion, both exceeding market expectations. The company also announced an expansion of its share repurchase program. Users on X discussed the earnings report, noting significant financial results and positive guidance for Q2 FY27, which includes expected revenue between $1.6 billion and $1.65 billion.

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