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

0945 - S&P services PMI for February: Expected 53; Prior 52.9
0945 - S&P manufacturing PMI for February: Expected 51.4; Prior 51.2
0945 - S&P composite PMI for February: Expected 53.2; Prior 52.7
1000 - UMich consumer sentiment for February: Expected 67.8; Prior 67.8
1000 - Existing home sales for January: Expected 4.13M; Prior 4.24M
1000 - UMich 5-yr inflation for February: Expected 3.3%; Prior 3.3%
1000 - UMich 1-yr inflation for February: Expected 4.3%; Prior 4.3%

Chinese ADRs

+3.33%

Trading sharply higher as a group as China’s recent bull run continues. The tech-heavy Hang Seng Index reached a three-year high on Friday, driven by strong earnings from Alibaba and renewed optimism following Xi Jinping’s meeting with corporate executives earlier this week. Excitement around Chinese AI startup DeepSeek has also added fuel to the rally for Chinese stocks, specifically those in the tech space.

BABA, BIDU, BILI, PDD, JD, LI, NIO, XPEV, KWEB, FXI

Coinbase Global Inc (COIN)

4.41%

Trading sharply higher premarket after the company announced that the SEC has agreed to dismiss its lawsuit against the company, according to the Wall Street Journal. The intent of the lawsuit was to regulate Coinbase as a stock exchange, a charge that the SEC first brought against the company in June of 2023. The reported dismissal of the suit is still subject to approval

Tesla Inc (TSLA)

-0.34%

On watch after recalling 376,241 Model 3 and Model Y vehicles in the U.S. due to a power steering assist issue that could increase crash risk at low speeds. The company has released an over-the-air software fix and reported no known crashes or injuries, though NHTSA had received complaints of steering control loss.

Apple Inc (AAPL)

-0.07%

On watch after Bloomberg reported that Apple CEO Tim Cook met with President Trump at the White House. The meeting comes as trade tensions between the US and China continue to escalate, though it is unclear what was discussed during the meeting. Apple could face potential tariff impacts on iPhone pricing, alongside supply chain shifts to India and Vietnam and regulatory scrutiny in China and the U.K.

Block Inc (XYZ)

-9.04%

Gapping down after its Q4 2024 earnings report, with adjusted earnings of $0.71 per share and sales of $6.03 billion missing estimates of $0.87 and $6.29 billion, respectively. The company reported a 16% year-over-year increase in gross profit for Cash App, while Square’s gross profit grew by 12%. During his letter to shareholders accompanying the report, CEO Jack Dorsey teased an investor day to be held later in the year,

Rivian Automotive Inc (RIVN)

-3.49%

Trading lower premarket after its Q4 earnings report. The company reported adjusted losses of $0.46 per share, narrower than the expected $0.65-per-share loss, while sales of $1.73 billion beat estimates of $1.4 billion. For fiscal 2025, Rivian guided adjusted EBITDA losses of $1.7 billion to $1.9 billion and expects to deliver 46,000 to 51,000 vehicles during the fiscal year.

Nu Holdings (NU)

-8.17%

Gapping down after its Q4 earnings report. Earnings of $0.11 were in-line with analyst estimates, while sales of $2.99 billion came in below expectations of $3.29 billion. The company reported $11.51 billion in sales for fiscal 2024, missing estimates of $11.749 billion. Nu’s total global customers rose by 22% year-over-year, while its credit card portfolio and deposits grew by 28% and 55%, respectively.

UnitedHealth Group Inc (UNH)

-9.90%

Gapping down after the Wall Street Journal reported that the company is facing a DOJ investigation. According to the report, the US Department of Justice is looking into the company’s Medicare billing practices. UnitedHealth and its stock have struggled and faced scrutiny since early December, when the fatal shooting of UnitedHealthcare CEO Brian Thompson caused negative sentiment about the health insurance industry to spike.

Celsius Holdings Inc (CELH)

+32.39%

Gapping up after its Q4 2024 earnings report, with adjusted earnings of $0.14 per share and sales of $322.2 million beating estimates of $0.11 and $327.97 million, respectively. International revenue grew by 39% year-over-year, but total revenue dropped by 4% and North American revenue dropped by 6%. Celsius’ market share in its category decreased slightly to reach 10.9% for 2024. The company also announced its $1.8 acquisition of Alani Nu.

Unity Software Inc (U)

+3.04%

Continuing to trade higher premarket after closing more than 30% higher on Thursday. This rally was driven by a stronger-than-expected Q4 2024 earnings report, with both GAAP EPS and sales exceeding analyst estimates. On Friday morning, Barclays increased its price target for the stock from $18 to $26 while maintaining an Equal-Weight rating. The stock has seen increased retail attention since being seemingly mentioned by Keith “Roaring Kitty” Gill in two online postings over the last two months.

Quantum Stocks

+2.45%

Trading higher as a group. The stocks, which have received increased retail attention since late fall 2024, rallied on Wednesday after the Verge reported that Microsoft has reached a quantum breakthrough 17 years in the making. On Friday morning, IonQ announced that its ion trap vacuum package prototype has been completed, which will allow for smaller quantum systems that can operate at room temperature.

IONQ, HOLO, LAES, RGTI, QUBT, QBTS