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

0830 - GDP growth rate q/q (2nd estimate) for Q2: Expected 2.8%; Prior 2.8%
0830 - Initial jobless claims: Expected 232k; Prior 232k
0830 - Continued jobless claims: Expected 1.87M; Prior 1.863M
0830 - Wholesale inventories m/m adv for July: Expected 0.3%; Prior 0.2%
0830 - GDP price index q/q (2nd estimate) for Q2: Expected 2.3%; Prior 2.3%
1000 - Pending home sales change m/m for July: Expected 0.2%; Prior 4.8%
1530 - Fed’s Bostic speaks

NVIDIA Corp (NVDA)

-3.70%

Gapping down following its earnings report for fiscal Q2 2025, with the company’s gross margin dropping by 3.2 points on a quarter-over-quarter basis to reach 75.7%; gross margin guidance in the mid-70s percentage range for 2025 was also viewed as weaker than the estimate of 76.4%. Quarterly sales were reported at $30.040 billion, above analyst estimates of $28.684 billion and representing a 122% year-over-year increase, and adjusted earnings of $0.68 per share exceeded expectations of $0.64. Nvidia guided Q3 revenue of $32.5 billion, plus or minus 2%, and announced a $50 billion buyback program.

Apple Inc (AAPL)

+1.44%

Trading higher premarket after Citigroup named the stock its “top AI pick” for 2025. Analysts attributed this designation, which ranks the company above names like Nvidia and Arista Networks, to excitement over the company’s Apple Intelligence integration in its upcoming iPhone 16 and iPhone 17 ahead of Apple’s “It’s Glowtime” event on September 9th.

CrowdStrike Holdings Inc (CRWD)

-2.21%

The company provided weaker-than-expected revenue and EPS guidance for Q3 and fiscal 2025 as it continues to recover from the aftermath of its global outage on July 19th. Adjusted earnings of $1.04 for fiscal Q2 beat estimates of $0.97, and sales of $963.9 million beat estimates of $957.582 million. CrowdStrike’s annual recurring revenue reached $3.86 billion, marking a 32% year-over-year increase, with CEO and co-founder George Kurtz noting that the company is becoming “even more customer-obsessed” following the outage.

Tesla Inc (TSLA)

+0.80%

Reuters reported that the company approached the Canadian government before the announcement of a 100% duty on Chinese-made electric vehicles, requesting a lower tariff similar to what it receives in the European Union. However, Tesla has not maintained contact with Ottawa since Monday, according to a Canadian government source speaking on condition of anonymity. Canadian Prime Minister Justin Trudeau announced the tariff on Monday morning.

Chinese ADRs

+2.97%

Trading higher as a group after U.S. national security advisor Jake Sullivan raised concerns about China's emphasis on economic security during meetings with Chinese President Xi Jinping and officials. Xi is set to speak to US President Joe Biden over the phone in “coming weeks”, according to a statement from the White House.

BABA, BIDU, BILI, JD, PDD, LI, XPEV, NIO

Affirm Holdings Inc (AFRM)

+21.39%

Gapping up after its earnings report. The company reported loss of $0.14 for fiscal Q4, narrower than the expected 51-cent loss, and sales of $659 million exceeded expectations of $603.66 million. Affirm guided revenue between $640 million and $670 million for fiscal Q1 2025, well above estimates of $603.661 million.

Salesforce Inc (CRM)

+4.95%

Trading higher premarket after its earnings report for fiscal Q2 2025. Sales were reported at $9.33 billion, above estimates of $9.23 billion, with adjusted earnings of $2.56 per share similarly beating estimates of $2.36. The company guided Q3 revenue between $9.31 and $9.36 billion and projected adjusted earnings of $2.42 to $2.44 per share, both of which exceeded expectations, and announced that CFO and president Amy Weaver will be resigning once her replacement is appointed.

Dell Technologies Inc (DELL)

-4.98%

Trading sharply lower with volume after receiving a price target decrease from Morgan Stanley. The analyst, which added the stop to its “top pick” list in mid-June 2024, lowered its price target for Dell from $142 to $136 due to a suspected downward revision for the company’s server build forecast in 2024 and fiscal 2025. Dell is scheduled to report earnings after the bell on Thursday, August 29.

Dollar General Corp (DG)

-23.48%

Gapping down after its Q2 earnings report, with GAAP earnings of $1.70 per share and sales of $10.21 billion missing estimates of $1.78 and $10.368 billion, respectively. Quarterly sales rose by 0.5%. The company also lowered its revenue and EPS projections for fiscal 2024; it now sees adjusted earnings between $5.50 and $6.20 per share compared to the estimated $7.13 and revenue between $40.51 billion and $40.74 billion compared to analyst estimates of $41.02 billion.

Best Buy Co Inc (BBY)

+7.07%

Trading higher premarket following its earnings report for fiscal Q2 2025. The company reported adjusted earnings of $1.34 per share and enterprise revenue of $9.288 billion, exceeding expectations of $1.16 and $9.244 billion, respectively. Best Buy also raised its guidance for non-GAAP diluted earnings per share for fiscal 2025, with the new range of $6.10-$6.35 exceeding estimates of $6.08.