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

0830 - Nonfarm productivity q/q (prelim) for Q2: Expected 2%; Prior -1.5%
0830 - Initial jobless claims: Expected 222k; Prior 218k
1000 - Fed’s Bostic speaks
1000 - Wholesale inventories m/m for June: Expected 0.2%; Prior 0.2%
1020 - Fed’s Musalem speaks
1100 - NY Fed inflation expectations for July: Prior 3%

Taiwan Semiconductor Manufacturing Co Ltd (TSM)

+5.50%

Gapping up after Taiwanese officials confirmed the company is exempt from President Donald Trump’s freshly-proposed 100% tariffs on semiconductor chips. The exemption is due to TSMC’s US-based factories, including major facilities in Arizona tied to its $165 billion investment plan. Other semiconductor stocks, including Nvidia and AMD, are also trading higher premarket.

Apple Inc (AAPL)

+2.81%

Trading higher premarket after CEO Tim Cook and US President Trump announced that the company will invest an additional $100 billion in the U.S., bringing its total domestic investment pledge to $600 billion over four years. While the move may help Apple avoid tariffs, it does not meet Trump's request for iPhones to be made in the US. The stock rallied throughout Wednesday’s session ahead of the announcement.

Intel Corp (INTC)

-3.97%

Trading sharply lower premarket after President Donald Trump called for the immediate resignation of CEO Lip-Bu Tan in a Truth Social post. Trump’s post comes one day after Senator Tom Cotton reportedly wrote to the company’s board to express concern about Tan’s potential links to Chinese chip firms with military ties.

Eli Lilly and Co (LLY)

-11.78%

Gapping down after its Q2 2025 earnings report. Adjusted earnings of $6.31 and sales of $15.5578 billion beat estimates of $5.53 and $14.387 billion, respectively. The company raised its adjusted EPS guidance for the fiscal year to a range between $21.75 and $21.30, above estimates of $21.59, and similarly raised its sales guide for the period to a better-than-expected range of $60 billion to $62 billion. Additionally, Eli Lilly said its new weight loss pill helped people lose about 12% of their body weight in a major study, falling short of results for Novo Nordisk’s injectable drug Wegovy.

Crypto Stocks

+2.34%

Trading higher as a group in tandem with Bitcoin, which is trading just shy of the $117,000 level as of Thursday morning around 7:25 AM ET. Bloomberg reported that President Trump will sign an executive order allowing alternative assets like private equity, real estate, and cryptocurrency to be included in 401(k) retirement plans. The order directs federal agencies, including the Labor Department and SEC, to review and potentially revise rules to ease legal concerns and clarify responsibilities around offering these complex assets in retirement plans.

COIN, MSTR, CRCL, IBIT, ETHE, RIOT, CLSK, MARA, HUT, HIVE, IREN, BTBT, BTDR

Airbnb Inc (ABNB)

-5.54%

Trading lower premarket following its Q3 2025 earnings report. The company posted earnings of $1.03 per share and sales of $3.096 billion, beating estimates of $0.93 and $3.013 billion, respectively. Gross booking value grew by 11% year-over-year, while Nights and Experiences booked grew by 7%. The company guided Q2 revenue between $4.02 billion and $4.1 billion, compared to estimates of $4.029 billion, and announced a $6 billion share buyback program.

DraftKings Inc (DKNG)

+8.07%

Gapping up after its Q2 2025 earnings report, with adjusted earnings of $0.38 per share and sales of $1.51 billion beating estimates of $0.12 and $1.39 billion, respectively. Monthly Unique Payers reached 3.3 million, up 6% year-over-year, and average revenue per Monthly Unique Payer grew by 29%. The company maintained its previously-stated sales guidance of $6.2 billion to $6.4 billion for FY25, compared to estimates of $6.275 billion.

Celsius Holdings Inc (CELH)

+19.77%

Gapping up after its Q2 2025 earnings report, with adjusted earnings of $0.47 per share and sales of $739.259 million beating estimates of $0.23 and $633.582 million, respectively. Retail sales increased by 3% on a year-over-year basis, and retail sales for Alani Nu brand soared by 129%. The company noted that they did not experience a significant tariff impact in Q2 because their inventory is recorded on a “first in, first out” basis.

Datadog Inc (DDOG)

+11.80%

Gapping up after its Q2 2025 earnings report. Sales of $826.76 million beat estimates of $790.973 million, and adjusted earnings of $0.46 per share exceeded expectations of $0.42. For Q3 2025, Datadog guided adjusted earnings between $0.44 and $0.46 per share, above estimates of $0.42, and projected sales between $847 million and $851 million, better than the expected $819.467 million. The company also raised its adjusted EPS and sales guidance for fiscal 2025, both of which exceeded analyst estimates.

AppLovin Corp (APP)

-1.17%

Trading lower premarket following its Q2 2025 earnings report. Earnings of $2.39 per share beat estimates of $2.04, but sales of $1.258 billion missed estimates of $1.307 billion despite growing 77% on a year-over-year basis. The company guided Q3 sales between $1.32 billion and $1.34 billion, narrowly beating estimates of $1.314 billion.

Quantum Stocks

-2.34%

Trading lower as a group following earnings reports from IonQ Inc and D-Wave Quantum (QBTS). IonQ reported losses of $0.70 per share, larger than the expected loss of $0.27 per share, though sales of $20.694 million beat estimates of $17.226 million. The company guided Q3 sales between $25 million and $29 million, compared to estimates of $25.083 million, and raised its revenue guide for the fiscal year. D-Wave also reported a larger-than-expected loss of $0.08 per share, with sales of $3.1 million beating estimates of $2.63 million.

IONQ, QBTS, QUBT, RGTI

Lyft Inc (LYFT)

-0.71%

On watch following its Q2 2025 earnings report. The company reported sales of $1.588 billion, missing estimates of $1.612 billion, though earnings of $0.10 per share beat estimates of $0.04. Gross bookings rose by 12% year-over-year, rides increased by 14%, and active riders increased by 10%. Lyft guided gross bookings between $4.65 billion and $4.8 billion for Q3, implying 13% to 17% year-over-year growth.

Duolingo Inc (DUOL)

+25.93%

Gapping up after its Q2 2025 earnings report. The company posted earnings of $0.91 per share and sales of $252.265 million, beating estimates of $0.58 and $240.773 million, respectively. Duolingo guided better-than-expected sales for Q3 and raised its FY25 sales guide to $1.01 billion-$1.02 billion, above estimates of $997.34 million.

Dutch Bros Inc (BROS)

+19.61%

Gapping up after its Q2 2025 earnings report, with adjusted earnings of $0.26 per share and sales of $415.8 million beating estimates of $0.18 and $403.08 million, respectively. The company raised its FY25 sales guidance to a range between $1.59 billion and $1.6 billion, above estimates of $1.585 billion.

Sunrun Inc (RUN)

+18.52%

Gapping up after its Q2 2025 earnings report. The company reported a surprise profit of $1.07 per share, well above an estimated loss of $0.18 per share, with sales of $569.336 million beating estimates of $548.4 million. Approximately 28% of the stock’s float is sold short.