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

0830 - Initial jobless claims: Expected 232k; Prior 227k
0830 - Continued jobless claims: Expected 1.87M; Prior 1.864M
0830 - Chicago Fed national activity index for July: Expected 0.03; Prior 0.05
0945 - S&P services PMI flash for August: Expected 54; Prior 55
0945 - S&P manufacturing PMI flash for August: Expected 49.5; Prior 49.6
1000 - Existing home sales for July: Expected 3.94M; Prior 3.89M

Snowflake Inc (SNOW)

-9.45%

Gapping down following its Q2 2025 earnings report. The company posted adjusted earnings of $0.18 per share, above estimates of $0.16, and sales of $868.823 million, up 29% year-over-year and exceeding expectations of $849.704 million. Snowflake guided product revenue between $850 million and $855 million for Q3 and raised its product revenue guidance to $3.356 billion for FY25. The company also expanded its buyback program by $2.5 billion.

NVIDIA Corp (NVDA)

+1.40%

Trading higher premarket following a positive analyst note from Rosenblatt. The analyst maintained a Buy rating and $200 price target for the stock, noting that they expect the company to beat analyst estimates and raise guidance for the current quarter during its upcoming earnings report. Nvidia is scheduled to report Q3 earnings on August 28, 2024.

Microsoft Corp (MSFT)

-0.01%

On watch after providing Q1 2025 revenue forecasts in its Intelligent Cloud, Azure, Productivity and Business, and More Personal Computing segments. The company has restructured its reporting on business units, moving search and news advertising revenue under Azure to better reflect AI contributions. Microsoft’s stock initially moved down on the post-market announcement, with Azure revenue projected to sequentially drop by one to two points.

Trump Media & Technology Group (DJT)

+4.17%

Continuing to trade higher premarket after closing 13% higher on Wednesday. ABC News reported on Wednesday afternoon that Robert F. Kennedy Jr., currently running for US President as an independent candidate, is set to end his campaign and endorse Republican candidate and majority DJT shareholder Donald Trump; Kennedy is scheduled to address the nation on Friday, as per his press secretary.

Charles Schwab Corp (SCHW)

-4.13%

Trading sharply lower premarket Toronto-Dominion Bank reduced its stake in the company. The bank sold 40.5 million shares of Schwab, lowering its ownership from 12.3% to 10.1%, and agreed not to sell more shares for 45 days.

Bilibili and Baidu

+2.34%

Both Chinese ADRs reported Q2 earnings on Thursday morning, with Bilibili trading higher and Baidu trading slightly lower premarket. Bilibili posted losses of $0.09 per American depository share, smaller than the expected loss of $0.11, with sales of $843.1 million exceeding estimates of $837.17 million. Baidu, meanwhile, reported adjusted earnings of $2.89 per American depository share and sales of $4.67 billion, with both metrics dropping on a year-over-year basis.

BILI, BIDU

Zoom Video Communications Inc (ZM)

+2.47%

Trading higher premarket following its earnings reports, with adjusted earnings of $1.39 per share and sales of $1.16 billion exceeding expectations of $1.21 and $1.15 billion, respectively. The company provided stronger-than-expected EPS guidance for Q3 and fiscal 2025, with its revenue guidance for the year and quarter also slightly beating estimates. Zoom also announced the resignation of CFO Kelly Steckelberg and said that the search for a new CFO is underway.

Peloton Interactive Inc (PTON)

+5.36%

Trading higher premarket after reporting Q2 2024 earnings. Adjusted losses per share of $0.08 were narrower than the expected 16-cent loss, and sales of $643.6 million beat estimates of $630.48 million. The company provided lower-than-expected guidance for Q1 and FY 2025, emphasizing that macroeconomic uncertainty is likely to results in sales headwinds for Q1. Peloton also noted that it is still in the process of searching for a new CEO after former CEO Barry McCarthy stepped down in early May 2024.

GeoVax Labs Inc (GOVX)

+15.93%

Gapping up after Wayne County Health Department in Michigan reported the first case of mpox in the US. GeoVax and other vaccine-related small-cap stocks (SIGA, VRAX) have been trading higher over the last week as concerns around mpox intensify. The stock has a float of 7.17 million shares, 3.7% of which are sold short.

GD Culture Group Ltd (GDC)

+77.55%

Continuing to trade higher premarket after rallying throughout Wednesday’s session. The stock began trading higher after the company announced that it had launched a TikTok account dedicated to AI-related news updates.