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

0830 - PCE price index y/y for December: Expected 2.6%; Prior 2.4%
0830 - PCE price index m/m for December: Expected 0.3%; Prior 0.1%
0830 - Core PCE price index y/y for December: Expected 2.6%; Prior 2.6%
0830 - Core PCE price index m/m for December: Expected 0.2%; Prior 0.1%
0830 - Consumer spending m/m for December: Expected 0.5%; Prior 0.4%
0830 - Fed’s Bowman speaks
0945 - Chicago PMI for January: Expected 40; Prior 36.9

Apple Inc (AAPL)

+3.99%

Trading sharply higher premarket following its earnings report, with GAAP earnings of $2.40 per share and sales of $124.3 billion beating estimates of $2.36 and $124.131 billion, respectively. The company reported year-over-year declines in its iPhone and Wearables, Home, and Accessories revenue categories, though Mac and iPad revenue grew on a year-over-year basis. Apple’s Americas and Europe revenue grew year-over-year, but net sales in Greater China dropped from $20.819 billion to $18.513 billion.

Intel Corp (INTC)

+1.15%

Trading higher premarket following its Q4 2024 earnings report. Adjusted earnings of $0.13 per share exceeded expectations of $0.12, while sales of $14.3 billion beat estimates of $13.81 billion. Revenue in each of the company’s segments dropped on a year-over-year basis, with Intel Foundry revenue declining by 13%. The company guided Q1 2025 revenue between $11.7 billion and $12.7 billion and non-GAAP earnings of $0.00 per share, below estimates of $12.87 billion and $0.09, respectively.

NVIDIA Corp (NVDA)

-2.34%

Trading lower premarket with volume. IGN reported that the company’s gaming-focused RTX 5090 and 5080 GPUs sold out almost instantly after launch, frustrating gamers and leading to scalper prices exceeding $6,000. The limited availability was reportedly driven by production challenges, including a design flaw in Blackwell-based processors and Nvidia's focus on data center chips.

Tesla Inc (TSLA)

-0.01%

The company’s workforce dropped 10.5% year-over-year to 125,665 employees by December 2024, according to a filing. This drop in headcount, the company’s first since 2019 following an April 2024 layoff affecting over 14,000 workers. Several Tesla executives also left the company during 2024, including VP Rohan Patel, SVP Drew Baglino, and EV director Rebecca Tinucci.

Walgreens Boots Alliance Inc (WBA)

-12.13%

Gapping down after announcing the suspension of its quarterly dividend to strengthen its balance sheet and reduce debt. The decision was driven by cash needs related to litigation and debt refinancing as part of a long-term turnaround strategy. This announcement follows a period of volatility for the company, which is reportedly in talks to be sold to private equity firm Sycamore; CNBC’s David Faber said earlier this week that those discussions are “mostly dead”. Approximately 10.9% of the stock’s float is sold short.

Amazon.com Inc (AMZN)

+0.89%

On watch after Bloomberg reported that the company has cut jobs in its communications and sustainability units as part of cost-cutting efforts. CNBC further reported that some of the affected employees may be rehired in lower-level roles or reassigned. The layoffs follow broader workforce reductions in the tech industry, with companies like Microsoft, Google, and Meta also downsizing in recent years. Amazon is scheduled to report earnings after the bell on Thursday, February 6.

Alibaba Group Holding Ltd (BABA)

-0.96%

The company’s US-listed shares are pulling back after closing more than 6% higher on Thursday. The stock has been on watch since Tuesday afternoon, when the company announced its Qwen2.5-Max AI model; the release included graphics showing that the model outperforms DeepSeek V3 in five benchmarks. On Thursday, traders circulated posts from Alibaba showing that its Qwen model is priced at a 90% discount to comparable models from OpenAI. Additionally, Chinese ADRs are on watch after President Donald Trump announced that his administration is “in the process” of constructing a tariff for China.

Deckers Outdoor Corp (DECK)

-12.94%

Gapping down after its Q3 earnings report. The company reported GAAP earnings of $2.55 per share and sales of $1.83 billion, outpacing Street estimates of $2.55 and $1.73 billion, respectively. Sales of HOKA and UGG-branded products increased substantially year-over-year, bur Teva brands and “other brands” revenue experienced declines. Deckers expects 15% revenue growth for fiscal 2025 and guided earnings of $5.75 to $5.80 per share for the same period, above estimates of $5.54.

Nuclear Stocks

+0.93%

Trading higher premarket as a group. These tickers dropped sharply earlier in the week alongside AI-associated tickers amid concerns about competition from China, brought about by the heightened prevalence of Chinese AI startup DeepSeek. NANO Nuclear Energy also announced that it has contracted a company to work on the design and construction of heat exchangers on Thursday morning. NANO Nuclear, NuScale (SMR) and Oklo all have short floats of greater than 17%.

SMR, OKLO, NNE, CEG, VST

Nauticus Robotics Inc (KITT)

+39.40%

Gapping up after announcing a partnership with Leidos. The alliance will be focused on pushing forward subsea autonomy solutions. Nauticus, which has rallied frequently and recently, has a float of 13.94 million shares and a 16.97% short float.