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Thursday, November 6

Noteworthy macro moves today: US 2Y Treasury Bond +0.1%. US 10Y Treasury Bond +0.3%. Gold +0.9%. Noteworthy US mega-cap moves today: Alphabet Inc (GOOGL) +1.7%. Alphabet Inc (GOOG) +1.7%. 

US equity markets are trading mixed as investors digest recent economic data and the Bank of England's decision to maintain interest rates. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite have shown slight fluctuations amid ongoing discussions about monetary policy direction.

The Bank of England held its benchmark rate at 4% during a split vote on November 5th, reflecting growing support for potential future cuts due to signs that inflation has peaked. Policymakers noted progress in disinflation driven by softer pay growth and easing services inflation but emphasized the need for more evidence before making further adjustments.

In US labor market news, employers announced significant job cuts totaling over 153,000 in October—the highest monthly total since 2003—indicating challenges within sectors such as warehousing and technology amidst rising costs. This development may influence Federal Reserve considerations regarding upcoming interest rate decisions given current employment trends alongside other macroeconomic indicators.

iShares China Large-Cap ETF (FXI) [+1.6%]
Nvidia's CEO recently asserted that China is likely to prevail in the artificial intelligence race against the United States, emphasizing China's advancements in AI technology. This sentiment may resonate with companies within the iShares China Large-Cap ETF (FXI). Concurrently, the Bank of England has opted to maintain its key interest rate at 4%, reflecting concerns over inflation and economic growth, which could influence global market dynamics. Positive U.S. employment data, indicating a rebound with a significant job addition in October, may also bolster market conditions relevant to FXI. Social media discussions highlight FXI's recent volume shelf setup and its upward movement following Nvidia's performance. Notably, JD and LI have emerged as top contributors to FXI's performance today, further supporting the ETF's increase of 1.6%.

DDOG | +21.6% | +13.6B
Datadog Inc | Application Software
Datadog Inc. reported its Q3 earnings today, revealing a revenue increase of 28% year-over-year to $886 million, surpassing the consensus estimate of $852.3 million. Adjusted earnings per share (EPS) were reported at $0.55, exceeding expectations of $0.46. The company raised its Q4 revenue outlook to between $912 million and $916 million, above the consensus of $886.4 million, and provided adjusted EPS guidance of $0.54 to $0.56, higher than the anticipated $0.45. For the full fiscal year, Datadog projected revenue between $3.386 billion and $3.39 billion, along with an adjusted EPS of $2.00 to $2.02, both exceeding consensus estimates. The company noted a strong operating cash flow of $251 million and free cash flow of $214 million for the quarter, maintaining a robust balance sheet with $4.1 billion in cash and equivalents as of September 30, 2025.

SNAP | +19.8% | +2.8B
Snap Inc | Interactive Media & Services
Snap Inc reported its Q3 2025 financial results, posting an EPS of $(0.06), surpassing the analyst estimate of $(0.12). Revenue reached $1.51 billion, exceeding the consensus estimate of $1.49 billion. Daily active users increased by 8% year-over-year to 477 million, while monthly active users rose by 7% to 943 million. The company announced a partnership with Perplexity AI to integrate an AI-powered search engine into Snapchat, with a $400 million payment from Perplexity over one year. Snap also projected its Q4 adjusted EBITDA to be between $280 million and $310 million. Following the earnings announcement, Snap's stock surged significantly, reflecting positive market sentiment regarding its growth prospects and new initiatives, including a $500 million stock buyback plan.

HUBS | -13.4% | -2.8B
HubSpot Inc | Application Software
HubSpot Inc. reported its Q3 2025 results, showing revenues of $809.52 million, up from $699.72 million the previous year. Net income rose to $16.54 million, compared to $8.15 million year-over-year, with earnings per share increasing to $0.31 from $0.16. Despite these improvements, several analysts have lowered their price targets following the earnings announcement. Stifel reduced its target to $550 from $600, JPMorgan to $650 from $675, and Morgan Stanley to $640 from $747, while Citi raised its target slightly to $660 from $658. Concurrently, HubSpot's stock experienced a significant drop of 13.4% shortly after the earnings release. Social media discussions reflect a mixed sentiment, with some users expressing caution regarding the stock's performance and others noting its execution alongside other stocks in the market. Clara Shih has been appointed to HubSpot's board, effective November 3, 2025.

DASH | -11.8% | -10.1B
DoorDash Inc | Restaurants
DoorDash Inc has experienced a notable decline in its stock price, dropping significantly following its Q3 earnings report. Analysts have adjusted their price targets downward, with Benchmark reducing its target to 315 from 320, Truist lowering theirs to 330 from 340, and Barclays setting a new target of 238, down from 272. Oppenheimer cut its target to 280 from 350, while JPMorgan and Morgan Stanley adjusted theirs to 300, down from 325 and 330, respectively. The earnings report revealed a net income of 244 million and revenue of 3.4 billion, which exceeded expectations but fell short on earnings per share at 0.55 against an anticipated 0.68. The stock plunged over 20% after the announcement, reflecting concerns over weaker-than-expected results and declining consumer demand, alongside guidance for lower Q4 adjusted EBITDA and plans for significant investments in new initiatives for 2026.

PEN | +15.7% | +1.6B
Penumbra Inc | Health Care Equipment
Penumbra Inc reported its third-quarter financial results, achieving a non-GAAP EPS of 0.97, surpassing the consensus estimate of 0.92. Revenue for the quarter reached 354.7 million, exceeding expectations of 340.78 million. The company raised its fiscal year 2025 revenue guidance to a range of 1.375 billion to 1.380 billion, up from the previous estimate of 1.355 billion to 1.370 billion, and above the consensus expectation of 1.37 billion for FY25. Additionally, Penumbra maintained its growth forecast for U.S. Thrombectomy at 20% to 21% compared to 2024 levels, along with guidance for gross and operating margins for FY25. Following the earnings announcement, Penumbra's stock experienced a significant increase in value.

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