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

1020 - Fed’s Musalem speaks

The Trade Desk Inc (TTD)

-30.20%

Gapping down after its Q2 2025 earnings report, during which the company announced the appointment of board member Alex Kayyal as its new CFO as of August 21. Adjusted earnings of $0.41 per share were in-line with analyst estimates, while sales of $694.039 million beat estimates of $684.993 million. The Trade Desk guided revenue of greater than $717 million for Q3, compared to analyst estimates of $714.368 million.

Tesla Inc (TSLA)

-0.62%

Bloomberg reported that the company has shut down its Dojo Supercomputer team. Peter Bannon, who led the team and has been with Tesla since 2016, is reportedly leaving the company. The report also noted that over 20 Tesla employees have left to join startup DensityAI, founded by former Tesla executives. CEO Elon Musk has reassigned the remaining staff to other departments, with Tesla now planning to rely on external partners like Nvidia, AMD, and Samsung for AI development.

Pinterest Inc (PINS)

-11.92%

Gapping down following its Q2 2025 earnings report. Adjusted earnings of $0.33 per share missed estimates of $0.35, though sales of $998.227 million beat estimates of $974.007 million. Monthly active users grew by 11% year-over-year. CFO Julia Brau Donnelly noted during the company’s earnings call that ad pricing dropped by 25% year-over-year during Q2, which she attributed in part to greater ad impressions from lower-priced markets. Pinterest guided Q3 sales of $1.033 billion to $1.053 billion, above estimates of $1.023 billion.

Block Inc (XYZ)

+9.77%

The company reported adjusted earnings of $0.62 per share and sales of $6.054 billion for Q2 2025, falling short of estimates of $0.68 and $6.249 billion, respectively. Despite the double miss, adjusted operating income grew by 38% year-over-year, with Square GPV growing by 10% and Cash App gross profit increasing by 16%. The company raised its FY25 gross profit guidance to $10.17 billion, implying 14% growth on a year-over-year basis.

Apple Inc (AAPL)

+0.65%

Trading higher premarket after Melius raised its price target for the stock to $260 from $240 and maintained a Buy rating. The analyst attributed the price target increase to gowth from upcoming iPhone launches, including the “iPhone Air” this September, a ~$2,000 foldable in FY26, and the iPhone 20 in FY27. Melius also downplayed concerns over Siri and AI delays, noting no customer switching, and raised its FY26 EPS estimate by $0.12 on stronger margins and higher ASPs.

Twilio Inc (TWLO)

-13.01%

Gapping down after its Q2 2025 earnings report. Adjusted earnings of $1.19 per share beat estimates of $1.05, and sales of $1.228 billion beat estimates of $1.188 billion. Revenue grew by 13% year-over-year amid a 14% increase in Communications revenue, though Segment revenue was flat. The company guided adjusted earnings between $1.01 and $1.06 per share for Q3 2025, missing estimates of $1.14; Twilio’s sales guide of $1.245 billion to $1.255 billion for the same period exceeded estimates of $1.213 billion.

Under Armour Inc (UAA)

-15.06%

Gapping down after its Q1 earnings report. The company reported adjusted earnings of $0.02 per share, up from $0.01 on a year-over-year basis, with sales of $1.134 billion missing estimates of $1.154 billion. Under Armour guided adjusted earnings between $0.01 and $0.02 per share for Q2, well below estimates of $0.28. The company projected quarterly sales between $1.055 billion and $1.066 billion, similarly missing estimates of $1.347 billion.

Novo Nordisk A/S (NVO)

+3.81%

The company’s US-listed shares are trading higher premarket in tandem with gains in its primary listing in Europe. Eli Lilly, a rival of Novo Nordisk in the weight loss drug space, reported lower-than-expected weight loss in a trial for its oral obesity drug. The highest dose of Eli Lilly’s oforglipron led to 12.4% weight loss in the trial, compared to analyst estimates of 15%; Novo Nordisk’s comparable CagriSema treatment, meanwhile, has shown up to 22.7% weight loss.

Tempus AI Inc (TEM)

+7.08%

Trading sharply higher premarket after its Q2 2025 earnings report. The company reported adjusted losses of $0.22 per share, narrower than the expected loss of $0.24 per share, while sales of $314.635 million exceeded estimates of $296.845 million. Tempus AI raised its FY25 sales guidance from $1.25 billion to $1.26 billion, beating estimates of $1.245 billion.

Rocket Lab USA Inc (RKLB)

+5.79%

Trading higher premarket after its Q2 earnings report. The company reported a larger-than-expected loss of $0.13 per share, though sales of $144.498 million beat estimates of $134.523 million. CEO Peter Beck noted that the company is on track for a “record year of launches and spacecraft delivery”, with five Electron missions launched in Q2. Rocket Lab guided Q3 sales between $145 million and $155 million, compared to estimates of $148.899 million.

SoundHound AI Inc (SOUN)

+22.76%

Gapping up after its Q2 2025 earnings report. Adjusted losses of $0.03 per share were narrower than the expected loss of $0.09 per share, and sales of $42.683 million beat estimates of $32.883 million. The company raised its sales guidance for the fiscal year to a range between $160 million and $178 million, above estimates of $159.54 million.

Microchip Technology Inc (MCHP)

-5.63%

Trading lower premarket following its earnings report. The company reported adjusted earnings of $0.27 per share and sales of $1.057 billion for Q1, beating estimates of $0.23 and $1.054 billion, respectively. Microchip guided Q2 sales between $1.11 billion and $1.15 billion, compared to estimates of $1.115 billion, and its adjusted EPS guide of $0.34 to $0.37 for the same period beat estimates of $0.30.

Firefly Aerospace Inc (FLY)

-7.57%

Gapping down following its debut on the Nasdaq via an initial public offering. The stock opened at $70, well above its IPO price of $45, and reached a high of $73.80 before closing at $60.03.

MP Materials Corp (MP)

+8.34%

Gapping up after its Q2 2025 earnings report. The company reported adjusted losses of $0.13 per share, narrower than estimates of an $0.18-per-share loss, with sales of $57.393 million beating estimates of $46.307 million. Revenue grew by 84% year-over-year, and materials segment revenue grew by 20%.

FuboTV Inc (FUBO)

+4.86%

Trading higher premarket after its Q2 2025 earnings report. The company reported a surprise profit of $0.05 per share and sales of $379.97 million, beating estimates of $353.77 million. North American subscribers declined by 6.5% year-over-year, and subscribers in its Rest of World segment dropped by 12.5% despite a 4.7% increase in revenue for the segment.