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

1400 - Fed’s Cook and Fed’s Collins speak
1610 - Fed’s Daly speaks

Advanced Micro Devices Inc (AMD)

-6.49%

Trading sharply lower premarket after its Q2 2025 earnings report. Adjusted earnings of $0.48 per share missed estimates of $0.49, while sales of $7.685 billion exceeded expectations of $7.411 billion. The company noted $800 million in charges during the quarter, tied to export control measures; these charges also negatively impacted gross margin for the quarter. For Q3, Advanced Micro Devices guided sales between $8.4 billion and $9 billion, above estimates of $8.148 billion.

Super Micro Computer Inc (SMCI)

-17.41%

Gapping down after its Q4 2025 earnings report, with adjusted earnings of $0.41 per share and sales of $5.757 billion missing estimates of $0.44 and $5.884 billion, respectively. Gross margin was reported at 9.5%, marking annual and sequential declines. Super Micro reported net sales of $22 billion for FY25, marking a sharp increase from $15 billion in FY24, though earnings per share contracted on a year-over-year basis. The company lowered its FY26 sales guide and projected weaker-than-expected EPS and in-line sales for Q1 2026.

Shopify Inc (SHOP)

+10.87%

Gapping up after its Q2 2025 earnings report. Sales of $2.68 billion beat estimates of $2.55 billion, and earnings of $0.35 per share exceeded the expected $0.29. Gross merchandise volume grew by 30.6% year-over-year to reach $87.88 billion. The company guided year-over-year revenue growth by a percentage in the mid-to-high-twenties for Q3 2025.

The Walt Disney Company (DIS)

-1.21%

The company reported adjusted earnings of $1.61 per share for Q3, beating estimates of $1.47, though sales of $23.65 billion missed estimates of $23.717 billion. Disney+ subscribers increased by 1.8 million on a sequential basis, but operating income in the company’s entertainment segment declined by $179 million on a year-over-year basis. The Walt Disney Company raised its adjusted EPS guidance to a range between $5.75 and $5.85 for FY25, compared to estimates of $5.78.

Tesla Inc (TSLA)

-0.18%

CEO Elon Musk indicated that the company is developing a new version of its Full Self-Driving (FSD) system featuring roughly 10 times more parameters and major video compression improvements. Musk says could be ready for public release by the end of next month if testing goes well. The upgraded AI model aims to enhance the system’s perception capabilities, reinforcing FSD's role as a key driver of Tesla’s growth strategy amid rising competition from Chinese EV makers.

Uber Technologies Inc (UBER)

-0.88%

Trading marginally lower premarket after its Q2 2025 earnings report. Earnings of $0.63 per share and sales of $12.7 billion beat estimates of $0.62 and $12.46 billion, respectively. The company guided gross bookings between $48.25 billion and $49.75 billion for Q3 2025. Uber also announced that its board has approved a $20 billion share buyback program.

Rivian Automotive and Lucid Group

-6.65%

Both of these EV companies are trading sharply lower premarket after their Q2 2025 earnings reports. Rivian reported quarterly losses of $0.97 per share, larger than the expected loss of $0.76, though sales of $1.303 billion beat estimates of $1.29 billion. The company’s CFO noted that they are not expecting any revenue from selling regulatory credits in H2 2025. Lucid, meanwhile, reported a larger-than-expected loss of $0.24 per share, with sales of $259.43 million similarly missed estimates of $296.24 million.

RIVN, LCID

Snap Inc (SNAP)

-17.25%

Gapping down after its Q2 2025 earnings report. Losses of $0.16 were in-line with analyst estimates, while sales of $1.345 billion beat estimates of $1.344 billion. Snap’s CFO noted during the earnings call that brand advertising revenue for Q2 was flat on a year-over-year basis. The company guided Q3 sales between $1.475 billion and $1.505 billion, above estimates of $1.471 billion.

Unity Software Inc (U)

-3.65%

The company reported sales of $440.944 million, beating estimates of $425.459 million, and posted adjusted earnings of $0.18 per share. Unity guided Q3 sales between $440 million and $450 million, compared to estimates of $440.667 million.

Astera Labs Inc (ALAB)

+18.49%

Gapping up after its Q2 2025 earnings report. Adjusted earnings of $0.44 per share and sales of $191.925 million exceeded estimates of $0.32 and $172.537 million, respectively. The company guided better-than-expected earnings per share on both a GAAP and adjusted basis for Q3. Its sales guide of $203 million-$210 million for the same period sharply exceeded estimates of $180.733 million.

Novo Nordisk A/S (NVO)

-2.69%

Trading lower premarket after its Q2 earnings report. The company reported earnings of $0.91 per share and sales of $11.678 billion, missing estimates of $0.93 and $11.790 billion, respectively.

McDonald’s Corp (MCD)

+3.62%

Trading higher premarket after its Q2 2025 earnings report, with adjusted earnings of $3.19 per share and sales of $6.843 billion beating estimates of $3.14 and $6.682 billion, respectively. Comparable sales grew by 3.8% year-over-year, better than the expected growth of 2.5%; the company also reported greater-than-expected sales growth in the US and in both operated and licensed international markets.

Arista Networks Inc (ANET)

+11.35%

Gapping up after its Q2 2025 earnings report. The company posted adjusted earnings of $0.73 per share and sales of $2.205 billion, beating estimates of $0.65 and $2.105 billion, respectively. Arista guided Q3 sales of $2.25 billion, beating estimates of $2.093 billion.

Opendoor Technologies Inc (OPEN)

-21.43%

Gapping down following its Q2 2025 earnings report. The company reported in-line losses of $0.01 per share, with sales of $1.567 billion beating estimates of $1.499 billion. Opendoor guided Q3 sales between $800 million and $875 million, well below estimates of $1.218 billion.

Visionary Holdings Inc (GV)

+20.00%

Trading higher premarket on no apparent news catalyst. The stock has a market capitalization of approximately $8.88 million and a float of roughly 2.3 million shares.