^{_{Welcome to the TraderTV Live Morning Research Note. Here's what's making major moves in the market today.}}

0830 - Chicago Fed national activity index for March: Expected -0.13; Prior -0.11
0830 - Initial jobless claims: Expected 210k; Prior 207k
0945 - S&P composite PMI for April: Expected 50.6; Prior 50.3
0945 - S&P manufacturing PMI for April: Expected 52.5; Prior 52.3
0945 - S&P services PMI for April: Expected 50.6; Prior 49.8

ServiceNow Inc (NOW)

-13.15%

Gapping down after its Q1 2026 earnings report, during which it acknowledged that “geopolitical headwinds” could impact the company’s deal timing through FY 2026. The company also noted “near-term headwinds” related to the recent acquisition of Armis which could impact their margins. ServiceNow posted revenue of $3.77 billion and adjusted EPS of $0.97 for the quarter, compared to estimates of $3.75 billion and $0.97, respectively. The company guided FY 2026 revenue of $15.735 billion-$15.775 billion, below estimates of $16 billion.

Tesla Inc (TSLA)

-3.37%

Trading lower premarket following its Q1 2026 earnings report. Revenue of $22.39 billion beat estimates of $22.2 billion and represented 16% year-over-year growth, while adjusted earnings of $0.41 per share beat estimates of $0.34. Gross margin was reported at 21.1%, above estimates of 17.7% and marking a 478-basis point year-over-year improvement. CEO Elon Musk aid that the company is ramping production of its Optimus robots and is guiding overall capex of $25 billion for FY 2026, noting that Tesla is “working on a lot of large, ambitious projects”.

International Business Machines Corp (IBM)

-7.02%

Gapping down after its Q1 2026 earnings report. Revenue of $15.92 billion beat estimates of $15.61 billion, while adjusted earnings of $1.91 per share beat estimates of $1.81. Software revenue grew by 11% year-over-year to $7.05 billion, in-line with estimates of $7.04 billion; consulting revenue of $5.27 billion, meanwhile, narrowly missed estimates of $5.29 billion. The company guided FY 2026 revenue growth of greater than 5% year-over-year, compared to estimates of 5.1% year-over-year growth.

Intel Corp (INTC)

+1.42%

On watch ahead of its Q1 2026 earnings report, set to be released at approximately 4:00 PM ET on Thursday, April 23. Analysts are looking for the tech mainstay to post earnings of $0.00 per share and revenue of $12.26 billion. Tesla CEO Elon Musk delved into the company’s previously-announced involvement in his Terafab project during the Tesla earnings call, noting that Intel will be contributing its 14A process to the Terafab system.

Super Micro Computer Inc (SMCI)

-8.88%

Gapping down after Bluefin reported that Oracle may have canceled 300–400 of the company’s GB300 NVL72 racks, representing roughly $1.1–$1.4 billion in potential orders. Additional concerns around B200 inventory are also weighing on sentiment.

ASML and Taiwan Semiconductor Manufacturing

-1.34%

Both stocks dropped on Wednesday afternoon after Bloomberg reported that TSMC does not plan to adopt high-NA EUV tools from ASML through 2029, citing the machines’ steep cost of over €350M each. Instead, TSMC reportedly intends to stick with existing EUV technology as it prepares to launch its A13 node in 2029. The decision could pressure ASML’s growth outlook, as it is counting on high-NA EUV adoption to drive high-volume production starting in 2027–2028 and help reach its long-term revenue targets.

ASML, TSM

Netflix Inc (NFLX)

+1.14%

Trading higher premarket after announcing an expansion to its buyback program. The company indicated that its board has authorized an additional $25 billion in share repurchases.

Comcast Corp (CMCSA)

+9.45%

Gapping up after its Q1 2026 earnings report, with revenue of $31.46 billion and adjusted EPS of $0.79 beating estimates of $30.37 billion and $0.72, respectively. Domestic broadband losses were reported at 65,000, smaller than the expected loss of 175,500 and marking a year-over-year improvement of 117,000 customers. Domestic wireless net additions of 435,000 beat estimates of 361.600.

Honeywell International Inc (HON)

-6.01%

Gapping down after its Q1 2026 earnings report. Revenue of $9.14 billion fell short of the estimated $9.28 billion, though adjusted earnings of $2.45 per share outpaced estimates of $2.32. Orders grew by 7% year-over-year, while the company’s backlog reached $38.3 billion. Operating margin of 16.1% represented a 320-basis point decline. Honeywell projected EPS between $10.35 and $10.65 and revenue of $38.8 billion-$39.8 billion for FY 2026; both projections were roughly in-line with analyst estimates.

Texas Instruments Inc (TXN)

+11.04%

Gapping up after its Q1 2026 earnings report, with revenue of $4.83 billion and earnings of $1.68 per share beating estimates of $4.53 billion and $1.38, respectively. Operating profit grew by 37% year-over-year to $1.81 billion, beating estimates of $1.54 billion. The company projected Q2 2026 revenue between $5 billion and $5.04 billion, beating estimates of $4.85 billion.

Lululemon Athletica Inc (LULU)

-5.78%

The company announced the appointment of Heidi O’Neill as CEO, effective in September of 2026. O’Neill previously served as president of Consumer, Product, & Brand at fellow sports apparel company Nike. Her appointment comes months after Lululemon announced the impending resignation of prior CEO Calvin McDonald, whose term officially ended in January 2026.

Microsoft Corp (MSFT)

-1.92%

The company announced a A$25 billion investment in Australia through 2029 to expand Azure AI supercomputing and cloud infrastructure, alongside strengthening cybersecurity partnerships and workforce training initiatives. The plan, unveiled with Prime Minister Anthony Albanese and Microsoft CEO Satya Nadella, aims to boost national resilience and equip three million Australians with AI skills while supporting the country’s broader AI strategy.

American Airlines Group Inc (AAL)

-0.26%

The company posted revenue of $13.91 billion and adjusted earnings of -$0.40 per share, beating estimates of $13.79 billion and -$0.46, respectively. Passenger revenue of $12.5 billion narrowly beat estimates of $12.49 billion, while unit revenue marked a 7.6% year-over-year improvement. American Airlines guided adjusted earnings of -$0.20 to $0.20 per share for Q2 2026, compared to estimates of -$0.09. Separately, Reuters reported that the airline is in early-stage talks with Alaska Air Group to expand their partnership, potentially bringing Alaska into American’s transatlantic and transpacific joint ventures.

Lockheed Martin Corp (LMT)

-3.32%

Trading lower premarket after its Q1 2026 earnings report, with revenue of $18.021 billion representing growth from $17.963 billion in the prior-year quarter. Business segment operating profit of $1.823 billion, however, declined from $2.085 billion year-over-year. The profit decline was attributed in part to F-16 fighter jet delays.

Lam Research Corp (LRCX)

-0.82%

On watch after its Q3 2026 earnings report. Revenue of $5.84 billion beat estimates of $5.73 billion, while earnings of $1.47 per share beat estimates of $1.35. The company projected revenue of $6.2 billion to $7 billion for Q4 2026, above estimates of $6.05 billion; its adjusted EPS outlook of $1.50 to $1.80 for the same period similarly outpaced estimates of $1.45.

Mobileye Global Inc (MBLY)

+11.90%

Gapping up after its Q1 2026 earnings report. Revenue of $558 million beat estimates of $519.5 million, while earnings of $0.12 per share beat estimates of $0.09. The company guided FY 2026 revenue between $1.94 billion and $2.02 billion, compared to estimates of $1.95 billion. Mobileye also announced the authorization of a $250 buyback program in the aims of offsetting dilution related to stock compensation and the company’s deal with Mentee Robotics.

Nokia Corp (NOK)

+10.95%

Gapping up after its Q1 2026 earnings report. Sales grew by 12% year-over-year amid strong demand in the AI and cloud space, with AI bookings coming in at 1 billion euros. The company now expects network infrastructure to grow by 12% to 14% year-over-year for FY 2026, above its previous outlook of 6%-8% growth.