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

0830 - Fed Chair Powell speaks
1000 - Richmond Fed composite index for July: Expected -2; Prior -7
1300 - Fed’s Bowman speaks

Apple Inc (AAPL)

+0.16%

On watch after UBS reiterated its Neutral rating on the stock with a $210 price target. The analyst notes that June iPhone sales likely fell 18% year-over-year after two strong months driven by tariff fears. While UBS modestly raised its June quarter estimates due to FX tailwinds and better-than-expected shipments, it lowered projections for September on anticipated below-seasonal iPhone demand. Separately, Applehas launched its online store and app in Saudi Arabia, offering a fully localized shopping experience with customer support in Arabic and marking a major step in the company’s Middle East expansion.

Circle Internet Group Inc (CRCL)

-2.88%

Compass Point downgraded the stock from Neutral to Sell and slashed its price target from $205 to $130, citing significant overvaluation and new risks following recent U.S. stablecoin legislation. The firm still sees potential for Circle’s USDC but noted that rising competition, margin pressures, and revenue-sharing could undermine the company's long-term profitability.

Tesla Inc (TSLA)

-0.19%

Trading marginally lower premarket on reports of declining weekly sales data in China. Data shows that 9,900 Tesla vehicles were registered in China from July 14 to 20, 2025, marking a 19.32% decline from the previous week. Additionally, JPMorgan tested Tesla's robotaxi in Austin and described the experience as “solid” and “safe.” The firm noted that future success hinges on traffic and safety performance, with potential for robotaxis to boost Tesla’s pricing power in new vehicle sales.

Alphabet Inc (GOOGL)

+0.74%

Raymond James reiterated its Outperform rating on the stock with a $185 price target, citing positive trends in Google Cloud Platform (GCP) momentum and advertiser interest despite SEO traffic dips from AI Overviews. The firm sees potential for a re-rating as Google shifts from AI laggard to leader, citing resilient AI infrastructure, manageable DOJ risks, and signs of growing AI-driven search engagement.

General Motors Co (GM)

-3.68%

Trading sharply lower premarket after reporting earnings for Q2 2025. Adjusted earnings of $2.53 per share and sales of $47.12 billion exceeded estimates of $2.40 and $45.57 billion, respectively. The company affirmed its adjusted earnings projection of $8.25 to $10 per share for fiscal 2025, compared to estimates of $9.17. General Motors also maintained its previously-stated tariff impact guidance of $4 billion to $5 billion but noted that its net tariff impact for Q3 is likely to be higher than what was experienced in Q2.

Oracle and Microsoft

-0.64%

On watch as a pair after Oracle and OpenAI announced that they are collaborating to add 4.5 GW of new Stargate data center capacity in the US. This initiative will support over 2 million AI chips and push total development past 5 GW toward OpenAI’s 10 GW, $500B infrastructure goal. The expansion, already partially live in Abilene, TX, is expected to create over 100,000 jobs and continues to involve major partners like SoftBank and Microsoft.

ORCL, MSFT

Shopify Inc (SHOP)

-2.32%

Trading lower premarket after Loop Capital downgraded the stock to Hold from Buy, citing valuation rather than concerns about fundamentals. The firm maintained its $120 price target on Shopify and continues to like it as a long-term play, but noted that the stock’s current price already reflects its bullish outlook and prefers to wait for a better entry point.

NIO Inc (NIO)

+2.21%

Trading higher premarket after posting weekly sales gains in China. Data shows that 2,500 Nio-branded vehicles were insured in China from July 14 to 20, marking a 3.73% week-over-week gain. Registrations across Nio’s other brands, including Onvo and Firefly, rose by 19.51% on a week-over-week basis to reach 4,900 vehicles. The company’s US-listed stock has posted back-to-back weekly gains and is poised for a third straight green week.

Lockheed Martin and RTX Corp

-2.98%

Both defense stocks are trading lower premarket following their earnings report. Lockheed Martin reported Q2 2025 sales of $18.16 billion, below estimates of $18.63 billion. RTX, meanwhile, reported adjusted earnings of $1.56 per share and sales of $21.58 billion, exceeding estimates for both metrics. The company lowered its FY25 adjusted earnings guidance to $5.80-$5.95 per share, mostly underperforming estimates of $5.95; RTX raised its sales guidance for the same period to $84.75 billion-$85.5 billion, exceeding estimates of $84.26 billion.

LMT, RTX

Trump Media & Technology Group Corp (DJT)

+2.86%

Continuing to trade higher premarket after gaining more than 3% on Monday’s session, driven by the company’s announcement that it has accumulated about $2 billion in Bitcoin and related securities. The purchases are part of Trump Media’s $2.5 billion Bitcoin treasury strategy. CEO Devin Nunes stated the assets aim to secure financial freedom, guard against institutional discrimination, and support a planned utility token for the Truth Social ecosystem.

Sarepta Therapeutics Inc (SRPT)

-4.35%

The company announced that it will pause all U.S. shipments of its gene therapy Elevidys after two teenagers with Duchenne muscular dystrophy died from liver failure this year. While continuing treatment for ambulatory patients, Sarepta has halted use for non-ambulatory cases since June 15. Children's Hospital Los Angeles has suspended Elevidys for all patients following recent FDA actions. Analysts including Mizuho, UBS, and Barclays have downgraded the stock so far this week.

Philip Morris International Inc (PM)

-4.03%

Trading sharply lower premarket following its Q2 2025 earnings report. Adjusted earnings of $1.91 per share beat estimates of $1.86, but sales of $10.14 billion came in below estimates of $10.322 billion. Cigarette shipments declined by 1.5% for the quarter, though shipments for smoke-free products increased on a quarterly basis. Philip Morris guided Q3 adjusted earnings between $2.08 and $2.13 per share, mostly missing estimates of $2.12. The company raised its adjusted and GAAP earnings guidance for fiscal 2025.

Opendoor Technologies Inc (OPEN)

+13.71%

On watch following a volatile trading session on Monday. The stock gained more than 42% to close the session, though it declined sharply from its high of day. The stock has seen increased attention from retail traders in the past week, partially motivated by a series of bullish social media posts from hedge fund manager Eric Jackson. Approximately 21.4% of the stock’s float is sold short.