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Thursday, December 11

Noteworthy macro moves today: Ethereum -4.0%. Oil (WTI) -2.2%. Bitcoin -2.2%. Noteworthy US mega-cap moves today: Visa Inc (V) +1.4%. 

Global equity markets are trading mixed following a dovish stance from the Federal Reserve, which cut interest rates by a quarter point for the third consecutive time. This decision has led to increased optimism in Asian markets, while U.S. indices are experiencing downward pressure due to concerns over Oracle's disappointing earnings and their implications for tech stocks.

Recent economic data releases have shown a rise in initial jobless claims, which increased to 236,000 for the week ending December 6, exceeding market expectations. Conversely, continuing claims fell to their lowest level since April at 1.838 million, indicating some strength in the labor market despite the uptick in initial claims.

In trade news, the U.S. recorded its lowest trade deficit since June 2020 at $52.8 billion for September, driven by a notable increase in exports of goods and services by 3%. This improvement reflects stronger demand for nonmonetary gold and pharmaceutical preparations, contributing positively to market sentiment amid ongoing economic uncertainties.

Bitcoin (BTC/USD) [-2.1%]
Bitcoin (BTC/USD) has dropped significantly, losing approximately 2.1% since Wednesday. The Federal Reserve's recent decision to cut interest rates by a quarter point has contributed to market volatility. Expectations of further rate cuts in 2026 are influencing market dynamics. Social media highlights a flash dump where Bitcoin lost $90,000 and over 5% in value, leading to approximately $250 million in leveraged longs being liquidated within four hours. Additionally, Bitcoin's open interest has decreased from above $47 billion to around $27.5 billion, suggesting a leverage reset. In corporate developments, Robinhood is reportedly considering adding Bitcoin to its corporate treasury. Meanwhile, Ethereum (ETH/USD) has also declined by nearly 4%, reflecting broader market sentiment that may be impacting Bitcoin's price movements.

VanEck Semiconductor ETF (SMH) [-1.1%]
The VanEck Semiconductor ETF (SMH) has experienced a decline of 1.1%. Significant developments include STMicroelectronics receiving €500 million from the European Investment Bank for semiconductor research. Additionally, the Nasdaq 100 Index has dropped, which may also influence SMH due to their historical correlation. Among the ETF's holdings, notable contributors to the decline include NVIDIA, Broadcom, Micron Technology, AMD, and Qualcomm, all reporting negative returns. Conversations on social media highlighted a recent price surge in SMH from $332 to $375, reaching an all-time high without reliance on NVIDIA, suggesting sector rotation as a factor in this movement.

NVO | +2.4% | +4.0B
Novo Nordisk A/S | Pharmaceuticals
Novo Nordisk A/S shares have increased, reflecting a broader upward movement in the Pharmaceuticals sector. The rise follows the introduction of the bipartisan "Safeguarding Americans from Fraudulent and Experimental (SAFE) Drugs Act of 2025," aimed at regulating compounded GLP-1 medications used for weight loss and diabetes treatment. This legislation has garnered support from patient advocacy groups, including the American Diabetes Association, which has raised concerns about the safety of compounded drugs. Additionally, social media discussions have noted that technical indicators suggest a potential stabilization in Novo Nordisk's price. Meanwhile, Eli Lilly and Co has also seen gains following positive results from its Phase 3 trial of retatrutide, which may be influencing market sentiment toward Novo Nordisk.

ORCL | -13.1% | -70.1B
Oracle Corp | Systems Software
Oracle Corp reported second-quarter earnings that fell short of revenue expectations, with total revenue at 16.06 billion, below the consensus estimate of 16.21 billion. The company achieved adjusted earnings per share (EPS) of 2.26, exceeding estimates of 1.64, largely due to a 2.7 billion gain from the sale of its stake in Ampere. Remaining performance obligations surged to 523 billion, reflecting a 438% year-over-year increase, driven by new commitments from major clients like Meta and NVIDIA. Nonetheless, concerns emerged over a negative free cash flow of 10 billion and rising capital expenditures projected at 50 billion for fiscal 2026. Following the earnings report, Oracle shares dropped significantly in after-hours trading and continued to decline in premarket trading, with analysts at BofA revising their price target from 368 to 300, citing worries about the timing mismatch between spending and revenue generation.

U | +4.8% | +962.6M
Unity Software Inc | Application Software
Unity Software Inc. has seen a notable increase of nearly 120% year-to-date as of December 11, 2025. This morning, Piper Sandler upgraded Unity from Neutral to Overweight, raising its price target significantly. The firm cited a robust mobile app advertising market heading into 2026, noting a 15% quarter-over-quarter growth in Unity's Vector ad business for two consecutive quarters. Discussions on social media echoed this upgrade, emphasizing the positive outlook for Unity's ad business driven by advancements in technology. Additionally, Planet Labs PBC surged nearly 18% following strong third-quarter financial results, which may reflect a broader positive sentiment in the market that could be influencing Unity's stock price movement today.

CIEN | +9.3% | +3.2B
Ciena Corp | Communications Equipment
Ciena Corporation reported fourth-quarter revenue of $1.35 billion, with a net income of $19.5 million and earnings per share (EPS) of $0.13. The adjusted EPS was $0.91, exceeding the estimate of $0.77, while sales surpassed expectations at $1.352 billion compared to the anticipated $1.290 billion. For the first quarter, Ciena projected sales between $1.350 billion and $1.430 billion, significantly above the previous estimate of $1.252 billion. Additionally, for fiscal year 2026, the company forecasts revenues between $5.700 billion and $6.100 billion, well above the prior estimate of $4.710 billion. Social media discussions have noted a positive sentiment surrounding Ciena, highlighting the adjusted EPS growth from $0.54 year-over-year and a revenue increase of 20% year-over-year, following the earnings report that has reportedly spurred a notable rise in stock price.

NVDA | -1.5% | -68.5B
NVIDIA Corp | Semiconductors
NVIDIA Corp is experiencing challenges as Oracle reported disappointing quarterly results, with revenue falling short of analyst expectations. This has negatively affected AI-related stocks, including NVIDIA, which was observed down in premarket trading. Jefferies has raised concerns about demand for NVIDIA’s H200 chips in China, suggesting that the country may pursue its AI advancements independently. Despite these headwinds, discussions on social media reveal that institutional demand for AI-related stocks has surged, with significant daily purchases of NVIDIA alongside other tech giants. Additionally, NVIDIA's IR Head emphasized that the company’s GPUs remain a generation ahead of competitors, while Oracle's report indicated strong ongoing demand for NVIDIA's products, driven by new commitments from major clients. The Nasdaq 100 Index has also declined, reflecting broader market sentiment that may be influencing NVIDIA's recent price movement.

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