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Happy Tuesday afternoon to everyone on The Street. Here's a snapshot of where markets ended the trading session, plus tomorrow's trade idea delivered to you today.

• 🟨 | US stocks were mixed amid rising geopolitical tensions in Ukraine and Russia, and ahead of NVIDIA’s blockbuster earnings tomorrow.

• 📈 | One Notable Gainer: Stock in embattled chipmaker Super Micro Computer popped 31.2% after it filed plans to avoid a Nasdaq delisting.

• 📉 | One Notable Decliner: Shares of H&R Block and TurboTax-owner Intuit fell 8.2% and 5.1%, respectively, on a report that the Trump administration wants to develop a new tax filing app.

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MARKET MOVERS

Walmart, Lowe’s, NVIDIA

WMT (+3%) Walmart raises guidance after another strong earnings report ahead of the holiday season (YF)

LOW (-4.6%) Lowe’s beats on earnings and hikes guidance, but still expects sales to fall this year (CNBC)

NVDA (+4.9%) Traders Are Making Bullish Bets on Nvidia Ahead of Earnings (WSJ)

INCY (-8.3%) Incyte Is the S&P 500’s Worst Performer Today. What’s Hitting the Stock. (Barron’s)

GEV (+4.4%) GE Vernova to acquire Woodward’s gas turbine parts business in US (Power Technology)

OVERHEARD ON THE STREET

WSJ: President-elect Donald Trump will nominate Cantor Fitzgerald CEO Howard Lutnick to lead the Commerce Department.

Reuters: Sony is in talks to acquire Kadokawa, the Japanese media powerhouse behind Elden Ring, as it seeks to expand its entertainment portfolio.

CNBC: Jeep-parent Stellantis is delaying the launch of its Ram electric pickup trucks from this year to the first half of 2025.

Forbes: Bose will buy McIntosh Group, the owner of high-end audio equipment manufacturer Sonus faber.

TOMORROW’S TRADE IDEA, TODAY

Arrow Points Up

Return of Retail

Is retail investing ready for a comeback? One analyst thinks so.

Needham’s John Todaro recently upgraded Robinhood (HOOD) to a Buy rating with a $40 price target. That’s good for around 13.5% upside from current prices. 

The stock has already risen more than 175% YTD. But Todaro thinks the arrow still points up after President-elect Donald Trump’s victory.

Trump Tailwinds

The trading platform has been forced to limit some products to avoid SEC enforcement. A new SEC chair under Trump may allow it to roll those products out.

The economic policies under a second Trump term aren’t the only potential tailwind. The election also catalyzed bullish behavior in retail investors, among whom Robinhood has made a name for itself as a preferred trading platform. 

The company has a history of creating “meme” related trading products, which are very appealing to many retail traders, Todaro adds.

Bullish on Bitcoin

Piper Sandler’s Patrick Moley is bullish on the stock as well — albeit for an entirely different reason.

The election was embraced as a cultural watershed by many crypto enthusiasts. And Bitcoin’s subsequent surge could be good news for Robinhood, Moley says, as traders rush to the platform to buy crypto. Moley expects Bitcoin prices to continue their upward trajectory and has given Robinhood a price target of $36 per share. 

Analysts remain divided on the company, with only 8 of the 17 covering the stock rating it a Buy or Strong Buy. But at least a couple believe Robinhood remains a steal.

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ON OUR RADAR

WSJ: Exile on Main Street, USA? Theme park policy changes have sidelined Disney adult fan clubs.

CNBC: Walmart may need to raise prices on some items if Trump's proposed tariffs are implemented, the retailer’s CFO said.

AP: NVIDIA’s chipmaking rivals are developing AI inference chips to reduce the high computing costs of generative AI and better compete with the industry leader.

MONDAY’S POLL RESULTS

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