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

Semiconductors

+1.23%

Trading higher as a group, led by strength in Taiwan Semiconductor after the company reported a 44.7% year-over-year revenue increase in July to T$256,953 million ($7.94 billion). TSMC, a key supplier for Apple, Nvidia, and other tech giants, recently raised its full-year revenue forecast due to soaring demand for AI-related chips.

TSM, AMD, NVDA, AVGO, SMCI, MRVL, ARM, INTC

Crypto Stocks

+2.04%

Trading higher as a group as cryptocurrencies continue to rebound from a sharp selloff on Monday. Bitcoin reclaimed the $60,000 level and is trading just below $61,000 as of Friday morning, while Ethereum surpassed the $2,600 level.

MARA, CLSK, COIN, BITO, IBIT, RIOT, HUT, MSTR

Micron Technology and Dell Technologies

-0.65%

On watch as a pair, with Micron trading higher and Dell trading lower premarket, after both stocks were removed from BofA Global Research’s “US 1” list. The list contains the firm’s top investment ideas out of the stocks that have a Buy rating.

MU, DELL

CrowdStrike and Microsoft Corp

+0.56%

An SEC filing on Thursday afternoon confirmed that Delta Air Lines is pursuing legal claims against both companies after a software update caused a global outage last month, leading to the cancellation of about 7,000 flights and costing the airline at least $500 million. While Delta blames the tech companies for the disruptions, both CrowdStrike and Microsoft have rejected responsibility, with Microsoft suggesting Delta's outdated IT infrastructure may have contributed to the extended issues.

CRWD, MSFT

Unity Software Inc (U)

+0.70%

On watch following its earnings report for Q2 2024. The company reported losses of $0.32 per share, narrower than the estimated $0.42-per-share loss, and revenue of $449.26 million similarly beat estimates of $439.63 million. Unity guided strategic portfolio revenue between $415 and $420 million for Q3 and between $1.68 billion and $1.69 billion for fiscal 2024. The company also announced that CFO Luis Visoso would be leaving the company effective Friday, August 9, and that chief accounting officer Mark Barrysmith would be serving as interim CFO. Analysts including Barclays, Wedbush, and Needham cut their price targets for the stock following the report.

Cannabis Stocks

+1.16%

On watch after rallying on Thursday afternoon amid increased social media attention. The surge in retail interest was spurred on by comments from Republican presidential candidate and former US President Donald Trump which suggested that he supported the decriminalization of marijuana. Additionally, Canopy Growth reported earnings before the bell, with revenue of $66 million CAD falling short of the estimated $70.6 million CAD.

CGC, MSOS, TLRY, ACB

The Trade Desk Inc (TTD)

+6.24%

Gapping up after its earnings report, with revenue of $585 million and earnings of $0.39 per share beating estimates of $577.8 million and $0.35, respectively. The company’s Q2 adjusted EBITDA margin was reported at 41%. The Trade Desk guided Q3 revenue of $618 million at the minimum. Jefferies, BTIG Research, and RBC raised their price targets for the stock following its report.

Rocket Lab USA Inc (RKLB)

+11.32%

Trading sharply higher premarket after its earnings report. Revenue came in at $106.251 million, above estimates of $105.5 million and jumping by 71% year-over-year. The company also reported a smaller-than-expected loss for Q2 operating income and guided Q3 revenue between $100 million and $105 million.

Nauticus Robotics Inc (KITT)

+47.41%

Gapping up after announcing a partnership with Florida Atlantic University (FAU) to conduct Aquanaut Mark 2 vehicle development testing in both protected waters near FAU’s Dania Beach facilities and the deeper waters of the Atlantic Ocean. The stock has a market capitalization of $3.33 million and a float of 898,070 shares, approximately 1.8% of which are sold short.