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

0830 - Initial jobless claims: Expected 212k; Prior 209k
1000 - JOLTs job openings for December: Expected 7.25M; Prior 7.146M
1050 - Fed’s Bostic speaks

Alphabet Inc (GOOGL)

-3.17%

Trading lower following its Q4 2025 earnings report. Earnings of $2.82 per share and sales of $113.828 billion topped estimates of $2.63 and $111.308 billion, respectively. Google Cloud revenue grew by 48% year-over-year, while YouTube ad revenue - which fell just below estimates - grew by 9%. The company guided FY 2026 capital expenditures between $175 billion and $185 billion, well above estimates of $119.5 billion; the metric grew by 95% year-over-year for Q4 2025.

Crypto Stocks

-3.87%

Trading sharply lower as a group amid a continued selloff in the crypto space. Bitcoin briefly fell below the key $70,000 level early on Thursday morning, trading as low as $69,100; the cryptocurrency had recovered to trade above $70,100 as of 7:00 AM ET. Separately, both Strategy and CleanSpark are scheduled to report earnings after the bell on Thursday.

COIN, MSTR, MARA, RIOT, IBIT, ETHE, HUT, CLSK, IREN, CAN, HIVE

Amazon.com Inc (AMZN)

-0.26%

On watch ahead of its quarterly earnings report, slated to be released on Thursday, February 5 (ETA 4:00 PM ET). Analysts are looking for the company to post earnings of $1.98 per share and revenue of $211.45 billion. Amazon recently announced further layoffs, slashing approximately 9% of its workforce between this layoff round and an earlier round of cuts in October 2025.

Netflix Inc (NFLX)

+1.41%

On watch after US President Trump said that President Trump said he will not personally intervene in the proposed $82.7 billion Netflix–Warner Bros. Discovery merger, reversing earlier comments and deferring the decision to career regulators at the Justice Department. The deal faces a heated battle as WBD backs Netflix’s all-cash offer while Paramount Skydance pursues a rival hostile bid, leaving the outcome to regulators amid intensifying industry pressure.

Memory Stocks

-2.56%

Nikkei Asia reported that HP, Dell, Acer, and Asus are reportedly considering sourcing memory chips from Chinese suppliers for the first time as a global DRAM shortage drives up costs and threatens product launches. HP and Dell have begun qualifying CXMT’s DRAM to diversify supply amid expectations that memory prices could keep rising through 2026.

WDC, STX, MU, SNDK

Qualcomm Inc (QCOM)

-11.72%

Gapping down after its Q1 2026 earnings report. The company posted adjusted earnings of $3.50 per share and sales of $12.25 billion, beating estimates of $3.40 and $12.181 billion, respectively. Qualcomm guided adjusted EPS between $2.45 and $2.65 for Q2 2026, falling below estimates of $2.88; the company’s sales guidance of $10.2 billion-$11 billion for the same period similarly missed estimates of $11.106 billion.

Microsoft Corp (MSFT)

-1.22%

Trading lower premarket after Stifel downgraded the stock from Buy to Hold and slashed its price target from $540 to $392. The analyst argued that Street FY27 revenue and EPS expectations are too high amid Azure supply constraints, intensifying competition from Google Cloud and Anthropic, and tougher year-over-year comparisons. Stifel also flagged sharply higher AI-driven capex and margin pressure as near-term headwinds, despite Microsoft’s strong long-term positioning in AI.

NVIDIA Corp (NVDA)

+0.65%

Reuters reported that the Trump administration is prepared to approve ByteDance’s purchase of the company’s H200 AI chips, but the deal is stalled because Nvidia has not agreed to the U.S. government’s proposed usage conditions. The sticking point is a Know-Your-Customer requirement aimed at preventing Chinese military access to the chips, which Nvidia has yet to accept in its current form.

Arm Holdings PLC (ARM)

-6.18%

Gapping down after its Q3 2026 earnings report. The company provided tepid Q4 2026 guidance, with its adjusted EPS outlook for the quarter falling below estimates at the midpoint. Arm posted adjusted EPS of $0.43 and sales of $1.242 billion for Q3 2026, narrowly beating estimates of $0.41 and $1.223 billion, respectively.

Snap Inc (SNAP)

+2.03%

Trading higher premarket following its Q4 2025 earnings report, with earnings of $0.03 per share beating estimates of -$0.03; sales of $1.716 billion similarly exceeded estimates of $1.702 billion. Daily active users (DAUs) fell from 477 million to 474 million on a quarter-over-quarter basis. The company guided Q1 2026 sales between $1.5 billion and $1.53 billion, missing estimates of $1.546 billion.

Taiwan Semiconductor Manufacturing Co Ltd (TSM)

-0.98%

Japanese newspaper Yomiuri reported that the company is planning to mass-produce advanced 3-nanometer chips at its Kumamoto, Japan facilities, upgrading earlier plans focused on more mature nodes and potentially lifting total investment to around $17 billion with added Japanese government support. The shift signals a strategic move toward cutting-edge production in Japan, beyond the 6-nanometer fabs already under construction and slated to come online in 2027.

e.l.f. Beauty Inc (ELF)

+4.04%

Trading sharply higher premarket following its Q3 2026 earnings report, with adjusted earnings of $1.24 per share and sales of $489.505 million beating estimates of $0.72 and $459.107 million, respectively. The company hiked its sales outlook for FY26 to $1.6 billion-$1.612 billion, beating estimates of $1.568 billion, and raised its adjusted EPS outlook for the same quarter to a stronger-than-expected range of $3.05-$3.10.

Estee Lauder Companies Inc (EL)

-13.05%

Gapping down after its Q2 2026 earnings report, with adjusted EPS of $0.89 and sales of $4.229 billion beating estimates of $0.83 and $4.219 billion, respectively. The company cut its GAAP EPS outlook for the fiscal year but raised its adjusted EPS and sales projections for the same period; its GAAP EPS outlook now falls below estimates, while its adjusted EPS and sales projections are in-line with analyst expectations.

Bristol-Myers Squibb Co (BMY)

+1.77%

Trading higher premarket after its Q4 2025 earnings report. Adjusted earnings of $1.26 per share and sales of $12.502 billion beat estimates of $1.11 and $12.281 billion, respectively. The company guided sales between $46 billion and $47 billion for FY 26, exceeding estimates of $44.159 billion; its adjusted EPS outlook of $6.05-$6.35 per share similarly beat estimates of $6.02.

Peloton Interactive Inc (PTON)

-10.15%

Gapping down after its Q2 2026 earnings report. Losses of $0.09 per share exceeded the estimated loss of $0.05, and sales of $656.5 million similarly fell short of estimates. The company guided Q3 2026 sales between $605 million and $625 million, below expectations of $639.384 million. Peloton also announced the resignation of CFO Liz Coddington and said that a “comprehensive search” is underway for her successor.