Welcome to the MarketReader Minute.

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

If you find the insights useful, you may subscribe to our new sector-specific newslette or share this on Twitter.

Wednesday, November 26

Noteworthy macro moves today: Copper +1.5%. Noteworthy US mega-cap moves today: Microsoft Corp (MSFT) +1.9%. 

Global equity markets are trading higher amid expectations of a potential Federal Reserve interest rate cut in December, following the release of weaker-than-projected U.S. economic data. This optimism is reflected in the performance of major indices, with notable gains in technology stocks and positive momentum across Asian markets.

In economic news, initial jobless claims in the U.S. fell to their lowest level since February at 216,000 for the week ending November 22, while durable goods orders rose by 0.5% month-over-month in September, exceeding market expectations. Additionally, mortgage applications increased slightly by 0.2%, indicating ongoing activity in the housing market despite rising interest rates

The European Central Bank's comments on financial stability risks due to high public debt levels have also influenced market sentiment today. The ECB remains cautious about monetary policy adjustments while acknowledging signs of recovery within the European economy amidst ongoing geopolitical tensions and inflation concerns.

VanEck Gold Miners ETF (GDX) [+1.3%]
Gold prices have reached a two-week high, buoyed by a decline in the dollar and U.S. Treasury yields amid expectations of an interest rate cut by the Federal Reserve in December. This backdrop follows weaker retail sales growth and rising wholesale inflation. Consequently, the VanEck Gold Miners ETF (GDX) has seen a daily return of 1.29%. Social media discussions suggest a bullish outlook for GDX, with targets set between 90.20 and 97.24, contingent on price dips remaining above 10.28. Key contributors to GDX's performance include Newmont (NEM), Agnico Eagle Mines (AEM), Wheaton Precious Metals (WPM), Pan American Silver (PAAS), and Franco-Nevada (FNV). Additionally, initial jobless claims have fallen, marking a nine-month low, while durable goods orders exceeded expectations, both of which may have positively influenced GDX. Silver prices have also risen, reflecting broader market sentiment towards precious metals.

Bitcoin (BTC/USD) [-0.5%]
Bitcoin (BTC/USD) has experienced a slight decline of 0.5% today, coinciding with a rise in gold prices, which reached a two-week high amid easing dollar values and U.S. Treasury yields. In related news, MicroStrategy affirmed its robust balance sheet despite Bitcoin's price pullback, maintaining significant asset coverage against convertible debt. Social media discussions noted that Solana ETFs are outperforming Bitcoin ETFs, with substantial inflows into Solana despite a broader crypto downturn. Additionally, miner coins from the Eligius Pool have recently moved after being dormant for over a decade. Ethereum (ETH/USD) has also seen a decline of 1.66%, reflecting broader market sentiment that may influence Bitcoin's current price movement.

DELL | +4.7% | +4.5B
Dell Technologies Inc | Technology Hardware, Storage & Peripherals
Dell Technologies reported its third-quarter fiscal 2026 results, with adjusted earnings per share (EPS) of 2.59, surpassing the consensus estimate of 2.48. Revenue for the quarter was 27.01 billion, slightly below the expected 27.13 billion. The company raised its fourth-quarter revenue guidance to between 31 billion and 32 billion, projecting adjusted EPS at 3.50, exceeding the consensus of 3.21. Dell also increased its full-year 2026 revenue guidance to a range of 111.2 billion to 112.2 billion, up from a previous forecast of 105 billion to 109 billion. This optimistic outlook is attributed to a significant rise in AI server demand, with projected AI-related shipments reaching approximately 25 billion, reflecting over 150% year-over-year growth. Social media discussions have highlighted these results, noting strong performance in the AI server segment and robust infrastructure revenue growth.

ADSK | +7.6% | +5.1B
Autodesk Inc | Application Software
Autodesk Inc. reported robust third-quarter fiscal 2026 results, with adjusted earnings per share of 2.67, surpassing the consensus estimate of 2.50. Revenue rose by 18% year-over-year to 1.85 billion, exceeding expectations of 1.81 billion. The company raised its full-year adjusted EPS guidance to a range of 10.18 to 10.25, above the consensus of 9.95, and revised its revenue outlook for fiscal 2026 to between 7.15 billion and 7.17 billion, up from a previous estimate of 7.06 billion. For the fourth quarter, Autodesk anticipates revenue between 1.90 billion and 1.92 billion, with adjusted EPS projected at 2.59 to 2.67. Social media discussions highlighted the stock's significant price movements following these announcements, with a noted increase in after-hours trading attributed to the positive earnings and guidance. The CEO's optimism regarding long-term growth prospects, driven by steady demand for artificial intelligence solutions, further contributed to positive sentiment surrounding the company.

WDAY | -6.4% | -3.7B
Workday Inc | Application Software
Workday Inc. has experienced a notable decline, with shares dropping significantly after recent analyst actions. KeyBanc lowered its price target to 260 from 285 while maintaining an Overweight rating, and RBC Capital reduced its target to 320 from 340. A correction was issued regarding prior revenue and earnings forecasts, retracting expectations for FY26 adjusted EPS and revenue, which may have negatively influenced market sentiment. Despite reporting an adjusted EPS of 2.32, slightly above estimates, Workday's revenue of 2.43 billion fell short of consensus expectations. Following the Q3 earnings report, which showed a 14.6% year-over-year increase in subscription revenues, shares fell by 3.70% in after-hours trading. Additionally, Zscaler Inc. saw a decline of nearly 6% after its fiscal results, which may correlate with Workday's price movement.

HOOD | +5.9% | +6.4B
Robinhood Markets Inc | Investment Banking & Brokerage
Robinhood Markets Inc. is set to acquire a 90% stake in MIAXdx, a regulated exchange, through a joint venture with Susquehanna International Group. This acquisition aims to bolster its presence in prediction markets and is scheduled to commence operations in 2026. The move aligns with Robinhood's strategy to establish a futures and derivatives exchange and clearinghouse, responding to the burgeoning demand in the prediction market sector, which has recorded over 9 billion contracts traded by more than 1 million customers in the past year. Concurrently, social media discussions indicate caution in the market, with notable heavy put buying activity in HOOD, reflecting potential concerns regarding future price movements. Additionally, Robinhood's collaboration with Susquehanna has been reiterated across various posts, emphasizing the strategic implications for its market positioning.

ZS | -6.4% | -2.6B
Zscaler Inc | Systems Software
Zscaler Inc. reported its first-quarter fiscal 2026 results, revealing adjusted earnings per share of 0.96, exceeding the consensus estimate of 0.86. Revenue reached 788.1 million, surpassing expectations of 773.3 million and reflecting a year-over-year increase of 26%. Despite these positive figures, shares fell approximately 9% in after-hours trading due to unmet market expectations for stronger performance. The company raised its fiscal 2026 guidance, projecting adjusted EPS between 3.78 and 3.82, and revenue of 3.7 billion to 3.71 billion, both above consensus estimates. Zscaler noted a significant growth in Annual Recurring Revenue, which increased by 26% year-over-year to 3.2 billion. Additionally, the GAAP net loss per share was reported at 0.07, an improvement from the previous year's loss of 0.08, while an operating loss of 36.4 million accounted for 5% of revenue.

NTNX | -11.1% | -1.4B
Nutanix Inc | Application Software
Nutanix Inc. has experienced a significant decline, moving lower alongside the Application Software sector. The company reported mixed results for the first quarter of fiscal 2026, with revenue increasing year-over-year but falling short of consensus estimates. This shortfall was attributed to a shift in revenue recognition to future periods, leading to a downward revision of its full-year revenue guidance. Analysts have adjusted their price targets for Nutanix, reflecting the disappointing outlook and performance metrics. Additionally, social media conversations noted a sharp decline in NTNX stock following the release of its Q1 revenue and Q2 outlook, which also fell below expectations. Despite reporting earnings per share in line with expectations, the revenue miss and reduced guidance have contributed to a negative sentiment surrounding the stock.

Thank you for spending a minute with us. 

If you have 2 more minutes, watch this demo of the MarketReader Platform: