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Monday, November 17

Noteworthy US mega-cap moves today: Alphabet Inc (GOOGL) +3.2%. Alphabet Inc (GOOG) +3.2%. Eli Lilly and Co (LLY) -1.5%. 

Global equity markets are trading lower amid concerns over inflation risks and a cooling job market, following the end of a prolonged government shutdown in the U.S. Investor sentiment remains cautious as key economic data releases approach, with mixed signals from recent labor market indicators.

In economic news, Canada reported an easing of its headline inflation rate to 2.2% in October, down from 2.4% in September. Foreign investment in Canadian securities surged to C$31.32 billion in September, marking the highest level since April 2024. Meanwhile, Japan's industrial production rose by a revised higher rate of 2.6% month-over-month for September; however, GDP contracted by 0.4% quarter-over-quarter for Q3.

Political developments are also influencing market dynamics. UK Prime Minister Keir Starmer's government has reversed plans on income tax increases ahead of an important budget week, adding uncertainty around fiscal policies. Additionally, ongoing discussions regarding U.S.-China trade relations and potential tariff adjustments continue to weigh on investor sentiment across global markets.

iShares MSCI Japan ETF (EWJ) [-1.1%]
The iShares MSCI Japan ETF (EWJ) has declined by 1.1% in pre-market trading. Japan's GDP contracted at an annualized rate of 1.8% for the July to September period, marking the first decline in six quarters, as reported by Nikkei. This contraction raises concerns about potential economic challenges in the region. Additionally, the Nikkei 225 index dropped significantly by 1.77%, reflecting broader market apprehensions. Social media discussions reveal skepticism regarding the new Prime Minister's stability, which may influence market sentiment towards Japanese equities. Notably, significant contributors to EWJ's performance included TM, SONY, and MFG, each experiencing substantial declines. The recent movement in USD/JPY also contributed negatively to the ETF's performance. Furthermore, the S&P 500 Index has seen a minor decrease of 0.03%, suggesting a correlation with the movement in EWJ.

VanEck Semiconductor ETF (SMH) [-0.4%]
The VanEck Semiconductor ETF (SMH) has experienced a decline of 0.4% since Friday. Recent social media discussions highlight skepticism about further price increases, as SMH is at the top of a 14-year channel range following a substantial rally. Upcoming earnings reports, particularly from Nvidia (NVDA) on Wednesday, may influence sentiment. Additionally, a severe global DRAM shortage has led distributors to bundle modules with motherboards for the first time, potentially affecting semiconductor supply chains. This information was sourced from Asian press reports and mentioned companies such as Micron Technology (MU) and Dell Technologies (DELL). Among the ETF's holdings, notable contributors to the performance decline include NVDA, AMAT, LRCX, ADI, and AMD. Meanwhile, the Nasdaq 100 Index has also declined by 0.27%, reflecting broader market sentiment that may be affecting SMH's price movement.

GOOGL | +3.8% | +133.5B
Alphabet Inc | Interactive Media & Services
Alphabet Inc. has announced a substantial investment of $40 billion in data centers across Texas by 2027, aimed at bolstering its Google Cloud services and artificial intelligence capabilities. This initiative includes the construction of three new data centers and emphasizes enhancing energy capacity and workforce training. The announcement was made by CEO Sundar Pichai at an event with Texas Governor Greg Abbott. Concurrently, Berkshire Hathaway revealed a $4.3 billion stake in Alphabet, acquiring approximately 17.8 million shares. This strategic investment marks a significant shift, as Berkshire reduced its holdings in Apple and other companies. Social media activity highlights the excitement surrounding these developments, noting that Alphabet's stock surged nearly 7% following Berkshire's announcement, with a reported increase of over 5% during overnight trading sessions.

XPEV | -4.3% | -1.9B
Xpeng Inc | Automobile Manufacturers
Xpeng Inc reported a narrower-than-expected loss for the third quarter of 2025, with an adjusted loss per share of -0.16, compared to -1.62 a year prior. Revenue reached RMB 20.4 billion, significantly up from RMB 10.1 billion in the same period last year, while deliveries surged to 116,000 vehicles, reflecting a remarkable year-over-year increase of 149.3%. The vehicle margin improved to 13.1%, up from 8.6% the previous year. Despite these strong results, the stock declined by approximately 3.6% post-announcement. For the fourth quarter, Xpeng anticipates revenue between RMB 21.5 billion and RMB 23 billion, alongside projected deliveries of 125,000 to 132,000 vehicles, which fall below consensus estimates. Notably, Volkswagen's recent investment of nearly $1 billion into Xpeng highlights the company's innovative offerings, including electric vehicles and humanoid robots.

ESLT | +9.6% | +2.2B
Elbit Systems Ltd | Aerospace & Defense
Elbit Systems Ltd (NASDAQ: ESLT) has secured a substantial international contract valued at approximately 2.3 billion, to be executed over eight years. This multiyear agreement emphasizes the company's commitment to supply and support advanced systems and solutions, reflecting its technological capabilities. The announcement has garnered attention on social media, highlighting long-term revenue visibility, although details regarding payment schedules and immediate revenue impact remain undisclosed. Additionally, Elbit is expected to announce its Q3 FY2025 earnings on November 18, 2025, with an estimated EPS of 2.74 and revenue of 2.0 billion, up from previous estimates of 2.21 and 1.7 billion, respectively.

JAZZ | +20.4% | +2.2B
Jazz Pharmaceuticals PLC | Pharmaceuticals
Shares of Jazz Pharmaceuticals surged following the announcement of positive Phase 3 trial results for their cancer treatment, Ziihera. The drug, used in combination with chemotherapy, demonstrated clinically significant improvements in progression-free survival for patients with gastroesophageal adenocarcinoma. Results are set to be presented at a medical meeting in early 2026 and will be submitted for publication in a peer-reviewed journal. Jazz acquired rights to Ziihera from Zymeworks in 2022 and plans to submit a marketing application to the U.S. FDA for this indication in the first half of 2026. On social media, users attributed the recent price movement to these encouraging results, highlighting that Ziihera combinations outperformed trastuzumab plus chemotherapy in terms of progression-free survival and overall survival, based on a trial involving 914 patients across more than 30 countries. A supplemental Biologics License Application is also planned for the first half of 2026.

YMM | -7.1% | -16.9B
Full Truck Alliance Co Ltd | Cargo Ground Transportation
Full Truck Alliance Co Ltd reported a 10.8% year-over-year increase in Q3 revenue, reaching RMB3.36 billion. However, net income for the same period decreased compared to the previous year. The company acquired a majority interest in Giga.AI to enhance its AI capabilities and expects Q4 net revenues between RMB3.08 billion and RMB3.18 billion, with revenues excluding freight brokerage anticipated at RMB2.18 billion to RMB2.28 billion. Transaction service revenue surged significantly year-over-year due to increased order volume and higher fees. The user base expanded, with a notable rise in shipper monthly active users and fulfilled orders. Full Truck Alliance Co Ltd's Q3 earnings per share matched expectations at $0.13, while revenues exceeded forecasts at $471.7 million. The company set revenue guidance for Q4 FY2025 between $436.6 million and $446.7 million. The current average analyst rating remains "buy," with a median 12-month price target of $14.60.

BABA | +2.8% | +84.7B
Alibaba Group Holding Ltd | Broadline Retail
Alibaba Group Holding Ltd's stock has increased following the public beta launch of its Qwen app, which is positioned as a competitor to ChatGPT. Reports indicate a rise in shares during U.S. trading, attributed to heightened interest in the app. Concurrently, social media discussions highlighted a prior decline in Alibaba's shares due to a Financial Times report alleging the company provided technology support to the Chinese military, which led to a notable drop earlier last week. Despite these concerns, there was significant buying activity from mainland Chinese investors through the Southbound Stock Connect, amounting to approximately HK $2.07 billion. Additionally, issues with service congestion during the app's testing phase were noted, contributing to its trending status on Weibo.

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