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

0830 - Initial Jobless Claims: Expected 227K; Prior 221k
0830 - Continuing Jobless claims: Expected 1.96M; Prior 1.956M
0830 - Core Retail Sales MoM for May: Prior -0.9%
0945 - S&P Global Manufacturing PMI for Jul.: Expected 52.7; Prior 52.9
0945 - S&P Global Services PMI for Jul: Expected -53.0; Prior 52.9
0945 - S&P Global Composite PMI for Jul: Prior 52.9
1000 - New Home Sales (Jun): Expected 649K; Prior 623k

Alphabet Inc (GOOGL)

+3.66%

Alphabet (GOOGL) reported strong Q2 results, with revenue of $96.43 billion and earnings of $2.31 per share, both topping analyst estimates. Revenue rose 14% year-over-year, and EPS jumped 22%, marking the company’s 10th straight quarterly beat. Growth was led by Google Search ($54.19B), YouTube Ads ($9.8B), and Google Cloud ($13.62B). Alphabet ended the quarter with $95.15 billion in cash and marketable securities.

Tesla Inc. (TSLA)

-5.90%

Tesla missed both top and bottom line Q2 estimates (EPS $0.40 vs. $0.43, revenue $22.5B vs. $22.74B), with auto revenue down -16% YoY and deliveries falling for a second straight quarter. Shares dropped -4+% after hours as Musk warned of potentially “rough quarters” ahead, citing tariff pressures, the upcoming loss of the $7,500 EV tax credit, and supply chain disruptions. Political backlash from Musk’s actions is adding to the drag, while Tesla’s robotaxi and Model 2 timelines remain uncertain. Stock is already -18% YTD, making it the worst megacap tech performer — traders should watch for continued weakness unless EV momentum or regulatory clarity improves.

Broadcom Inc. (AVGO)

+2.34%

Broadcom (AVGO) jumped +3% after hours as Alphabet raised its 2025 capex forecast to $85B, well above expectations, signaling stronger demand for AI infrastructure and custom chips — a core Broadcom specialty. As Google’s longest-standing AI chip partner, Broadcom is seen as a top beneficiary of hyperscaler spend, mirroring a similar rally it saw after Alphabet’s Q4 earnings. With AI now impacting “every part” of Alphabet’s business and recent tax tweaks freeing up cash, traders should watch AVGO for continuation setups as hyperscaler capex guides remain a key leading indicator for chip demand.

NVDA, TSM, AMD, SMCI, ARM, MU

Chipotle Mexican Grill Inc (CMG)

-11.3%

Trading sharply lower after Chipotle reported Q2 revenue of $3.06 billion, slightly missing estimates, while adjusted EPS of 33 cents matched expectations. Revenue rose 3% year-over-year, driven by 61 new restaurant openings, though comparable sales fell 4% due to lower transaction volume. Digital orders made up 35.5% of food and beverage revenue, and restaurant-level operating margin reached 27.4%. Lower food and packaging costs helped offset weaker same-store sales, aided by 2024 menu price increases and improved efficiencies.

International Business Machine (IBM)

-6.03%

IBM delivered a strong Q2 beat (EPS $2.80 vs. $2.64 est., revenue $16.98B vs. $16.59B), with +8% YoY growth and strength in infrastructure and consulting, but shares dropped -6% after hours as management flagged cautious spending, delayed signings, and macro overhangs. Software slightly missed expectations, while AI momentum continued with the pipeline growing to $7.5B. Despite the dip, IBM remains +28% YTD, well ahead of the S&P, and reiterated $13.5B+ in 2025 free cash flow. Traders may see a dip-buying setup if support holds, especially with cloud, hardware, and AI segments still driving growth.

QuantumScape Corp (QS)

-5.3%

Gapping down despite reporting a smaller than expected loss of $0.20 per share coming in ahead of estimates of $.0.22, In addition the company annownced an expanded licensing arrangement with PowerCo that will provide up to $131M in new payments over 2 years if certain milestones are met. 15.9% of shares are short with a float of 70K and the company had run up heavily going into earnings

ServiceNow Inc. (NOW)

+6.86%

ServiceNow (NOW) popped +7% after hours on a strong Q2 beat (EPS $4.09 vs. $3.57 est., revenue $3.22B vs. $3.12B), with subscription revenue up 23% YoY and boosted full-year guidance now targeting up to $12.795B. CEO Bill McDermott cited accelerating AI adoption as a key growth engine, while CFO commentary acknowledged minor seasonal drag and federal budget uncertainty—but said it's fully baked into guidance. With AI tailwinds and strong enterprise momentum, NOW sets up well for continuation trades, especially if it holds above post-earnings breakout levels. Watch for sympathy plays across cloud and workflow automation peers.

CRM, WDAY, ADSK

Airlines

-0.11%

American Airlines (AAL) slashed its 2025 EPS forecast to a range of -20 cents to +80 cents, well below its prior $1.70–$2.70 outlook, citing macro uncertainty and demand weakness, while Q2 results showed an adjusted loss of 95 cents vs. 78 cent est., despite a slight revenue beat. Meanwhile, Southwest (LUV) missed on both Q2 EPS (43c vs. 51c est.) and revenue, with profits down 42% YoY and unit revenue pressured by discounting and a clunky rollout of basic economy fares. Both airlines pulled or revised 2025 guidance, triggering caution across the space — swing traders should watch for continuation downside or short-covering pops in AAL, LUV, UAL, DAL, especially if demand or PRASM commentary worsens.

AAL, LUV

Liminatus Pharma (LIMN)

25.5%

Gapping higher on strong relative volume after the preclinical stage Biopharma company yesterday announced a strategic review where they will evaluate potentially including Digital Asset strategies in their Treasury Management Framework. The low float will create extra volatility (4.5M)