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

0830 - PCE price index y/y for July: Expected 2.6%; Prior 2.6%
0830 - PCE price index m/m for July: Expected 0.2%; Prior 0.3%
0830 - Core PCE price index y/y for July: Expected 2.9%; Prior 2.8%
0830 - Core PCE price index m/m for July: Expected 0.3%; Prior 0.3%
0830 - Consumer spending m/m for July: Expected 0.5%; Prior 0.3%
0945 - Chicago PMI for August: Expected 46.5; Prior 47.1
1000 - UMich consumer sentiment for August: Expected 58.6; Prior 58.6

Marvell Technology Inc (MRVL)

-13.85%

Gapping down following its Q2 earnings report. Adjusted earnings of $0.67 per share beat estimates of $0.66, but sales of $2.006 billion missed estimates of $2.009 billion. Despite the miss, revenue grew by 58% year-over-year, with CEO Matt Murphy noting that growth is expected to continue into Q3. The company guided adjusted earnings between $0.69 and $0.79 per share for Q3, compared to estimates of $0.72, and projected sales between $1.957 billion and $2.163 billion for the same quarter.

NVIDIA Corp (NVDA)

-1.22%

Trading lower premarket after the Wall Street Journal reported that Chinese tech giants like Alibaba are racing to develop homegrown AI chips to replace Nvidia products restricted by U.S. export controls. While China still lags behind the U.S. in cutting-edge chipmaking, demand for AI services and inference applications is fueling rapid adoption and market growth across its economy.

Alibaba Group Holding Ltd (BABA)

+3.70%

Trading sharply higher premarket after reporting Q1 earnings. The company posted adjusted earnings of $2.06 per American depository share, missing estimates of $2.13, though sales of $34.57 billion beat estimates of $34.26 billion. Alibaba noted that a large amount of its external revenue is derived from its AI products and promised to invest significantly in the AI and cloud spaces.

Dell Technologies Inc (DELL)

-6.60%

Gapping down after reporting earnings for fiscal Q2 2026. Adjusted earnings of $2.32 per share and sales of $29.776 billion beat estimates of $2.31 and $29.172 billion, respectively. The company guided adjusted earnings of $2.45 per share for Q3, missing estimates of $2.55, and projected stronger-than-expected sales of $26.5 billion to $27.5 billion for the quarter. Dell also raised its EPS and sales guides for FY26, both of which exceed analyst estimates.

Affirm Holdings Inc (AFRM)

+14.48%

Gapping up after reporting earnings for fiscal Q4 2025, with earnings of $0.20 per share and sales of $876.417 million beating estimates of $0.10 and $837.026 million, respectively. Active merchants grew by 24% during fiscal 2025, while transaction frequency increased by 20% during the same period. The company guided Q1 sales between $855 million and $885 million, compared to estimates of $860.555 million, and projected better-than-expected sales of $3.864 billion for fiscal 2026.

Super Micro Computer Inc (SMCI)

-1.52%

Trading lower premarket after disclosing in its annual SEC filing that it has weaknesses in financial disclosure controls, which could impair timely and accurate reporting. The company has launched remediation efforts to strengthen its controls but cautioned there is no assurance the issues will be fully resolved or new ones won’t emerge. These updates follow a missed 2024 filing deadline that led to auditor Ernst & Young’s resignation.

Alphabet and Meta

-1.02%

On watch as a pair after India’s Reliance Industries announced partnerships with both companies to drive its artificial intelligence push. Chairman Mukesh Ambani also unveiled a new subsidiary, Reliance Intelligence. Google CEO Sundar Pichai confirmed plans to build a clean energy–powered cloud region in India through the collaboration.

GOOGL, META

Crypto Stocks

-1.62%

Trading lower as a group amid weakness in Bitcoin and Ethereum. Bitcoin - which is on track to post its third straight red week - opened Friday’s session near the $112,500 level and is trading around $110,000 as of 7:25 AM ET. Ethereum, meanwhile, is trading just above the $4,300 level after opening the session above $4,500.

IBIT, ETHE, ETHA, MSTR, COIN, RIOT, HUT, MARA, CLSK, HIVE, IREN, CRCL, BLSH

SentinelOne Inc (S)

+8.23%

Gapping up following its Q2 earnings report, with adjusted earnings of $0.04 per share and sales of $242.183 million narrowly beating estimates of $0.03 and $242.167 million, respectively. Revenue grew by 22% on a year-over-year basis, and annual recurring revenue expanded by 24%. The company guided Q3 sales of $256 million, beating estimates of $254.38 million, and raised its sales guide for fiscal 2026 to a range between $998 million and $1.002 billion.

Celsius Holdings Inc (CELH)

+9.55%

Gapping up after expanding its strategic partnership with Pepsico, with Celsius acquiring the U.S. and Canada rights to Rockstar Energy and moving its Alani Nu brand into PepsiCo’s distribution system. PepsiCo invested $585 million in new convertible preferred stock, while Celsius will serve as PepsiCo’s strategic energy lead in the US.

Ambarella Inc (AMBA)

+18.07%

Gapping up after reporting earnings for Q2 2026, with adjusted earnings of $0.15 per share and sales of $95.511 million beating estimates of $0.05 and $90.01 million, respectively. The company guided Q3 sales between $100 million and $108 million, well above estimates of $91.138 million.

Elastic NV (ESTC)

+15.45%

Gapping up following its Q1 2026 earnings report, with adjusted earnings of $0.60 per share and sales of $415.29 million beating estimates of $0.42 and $397.2 million, respectively. The company guided adjusted earnings between $0.56 and $0.58 per share for Q2, missing estimates of $0.60, though its sales guide of $415 million-$417 million for the same period beat estimates of $410.34 million. Elastic also raised its sales and EPS guidance for fiscal 2026.

Webull Corp (BULL)

+0.89%

Trading marginally higher premarket after reporting earnings for Q2 2025. The company posted adjusted earnings of $0.036 per share and sales of $131.493 million, with both metrics increasing on a year-over-year basis. Customer assets reached $15.9 billion, marking a 64% year-over-year increase, while trading-related revenue grew by 63%.

Opendoor Technologies Inc (OPEN)

+5.62%

Gapping up after company president Shrisha Radhakrishna purchase 30,000 shares of Opendoor stock at $4.27–$4.42 per share, according to SEC filings. The purchase, which is valued at $128,120 and raises Radhakrishna’s total holdings to 4.28 million shares, comes shortly after his August 15 promotion to interim principal executive officer. This transaction was praised on social media by enthusiasts of the stock, who have expressed concerns about members of Opendoor’s management team in the past.