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

0830 - Trade balance for June: Expected -$100B; Prior -$105.9B
0830 - Wholesale inventories m/m for June: Expected 0.5%; Prior 0.1%
1000 - CB consumer confidence for July: Expected 92; Prior 91.2

Corning Inc (GLW)

-13.84%

Gapping down after its Q2 2026 earnings report. Revenue of $4.74 billion topped estimates of $4.61 billion, and adjusted EPS grew by 30% year-over-year to a better-than-expected $0.78. Optical Communications revenue grew by 32% to $2.07 billion, with the company’s core gross margin expanding by 120 basis points to 39.6%. Corning projected Q3 2026 revenue between $4.9 billion and $5 billion, compared to estimates of $5 billion. The company guided earnings between $0.85 and $0.89 per share for the same period, compared to estimates of $0.85.

Semiconductors and Memory Stocks

-4.99%

Trading sharply lower as a group, mirroring a broad tech selloff during the overnight sesion. Semiconductor stocks fell sharply in premarket trading after a broad global selloff. South Korea's Samsung Electronics, Japan's Tokyo Electron and Advantest, Taiwan's TSMC, and Chinese semiconductor indexes all posted significant losses. Memory stocks like Micron and Sandisk are particularly weak this morning after the sharp decline of fellow memory company SK hynix, whose US listing is also gapping down.

AMD, MRVL, AVGO, INTC, SNDK, SKHY, MU, STX, WDC, DRAM

The Boeing Company (BA)

+1.89%

The company posted Q2 2026 revenue of $24.6 billion, representing 8% year-over-year growth, though adjusted earnings of -$0.70 sharply missed estimates of -$0.30. Boeing’s backlog hit a record $715 billion during the quarter. The company has delivered 314 commercial airplanes so far in FY 2026, up 12% year-over-year. Separately, the FAA warned that hundreds of U.S.-registered Boeing 737 MAX jets may require inspections after some passenger seats may have been improperly installed, potentially creating safety risks during emergency landings or evacuations.

PayPal Holdings Inc (PYPL)

-2.64%

The company reported revenue of $8.68 billion and adjusted earnings of $1.38 per share for Q2 2026, beating estimates of $8.47 billion and $1.28, respectively. Total payment volume grew by 10% year-over-year to $486.4 billion, topping estimates of $468.5 billion. The company hiked its FY 2026 adjusted EPS guide to roughly $5.38, above estimates of $5.31. PayPal expects EPS to decline in the low-single digits year-over-year on both a GAAP and adjusted basis.

The Coca-Cola Company (KO)

+2.77%

Trading higher premarket after its Q2 2026 earnings report, with revenue of $13.4 billion and adjusted EPS of $0.97 beating estimates of $13.16 billion and $0.93, respectively. Unite case volume grew by 5% year-over year, while the company’s comparable operating margin grew by 90 basis points to a better-than-expected 35.6%. Coca-Cola projected 5% organic revenue growth and 9%-10% comparable EPS growth for FY 2026.

Amazon.com Inc (AMZN)

+0.51%

On watch after Business Insider reported that the company is scaling back much of its flagship Nova AI model lineup. Engineers and computing resources are reportedly being shifted toward a new frontier foundation model being developed by its Frontier Model Research team, which is expected to debut later this year. While models such as Nova Premier, Omni, Reel, and Canvas are being deprioritized, Amazon said it will continue supporting existing customers and maintain development of select Nova models, including Nova 2 Sonic, Nova 2 Lite, Nova Forge, and Nova Act.

Meta Platforms Inc (META)

+0.40%

On watch after forming a $14 billion joint venture with BlackRock to develop a 1 GW AI data center campus in Texas. BlackRock will own 80% of the venture and Meta 20%, with Meta set to lease the entire facility to support AI model development beginning in 2028. The project includes $12.5 billion in debt financing, a more than $10 billion investment by Meta, and is expected to create over 4,000 construction jobs at peak and 300 permanent jobs once operational.

NVIDIA Corp and Super Micro Computer Inc

-1.33%

Taiwanese media reported that Taiwan prosecutors detained a Nvidia employee during a probe into alleged illegal exports of Super Micro AI servers to China. This update comes as Super Micro faces an ongoing US investigation over allegations that executives smuggled restricted Nvidia-powered servers to China. Separately, Nvidia CEO Jensen Huang and OpenAI CEO Sam Altman are set to meet with US Senator Mark Warner this week following concerns over AI safety after an OpenAI system reportedly behaved unexpectedly during testing.

NVDA, SMCI

Tesla Inc (TSLA)

-1.72%

The company reportedly signed a long-term power purchase agreement with KKR-backed ContourGlobal to buy 90% of the electricity from the planned Project Sterling solar-and-battery facility in Arizona. The 2028 project will combine 509 MW of solar generation with a 360 MW battery system, providing Tesla with additional clean energy capacity as rising AI data center demand increases pressure on U.S. power markets.

United Parcel Service Inc (UPS)

+0.71%

The company posted Q2 2026 revenue of $22.8 billion and adjusted earnings of $1.76 per share, beating estimates of $21.81 billion and $1.66, respectively. Adjusted operating margin grew by 40 basis points year-over-year to 9.2%. UPS hiked its FY 2026 adjusted EPS outlook to $7.22 and raised its revenue outlook to $91.2 billion; these new projections beat estimates of $7.11 and $90.3 billion, respectively.

Johnson & Johnson (JNJ)

+3.12%

Trading sharply higher premarket after agreeing to a proposed $5.5 billion settlement to resolve claims alleging its talc products caused ovarian cancer. This deal is contingent on participation from law firms representing at least 95% of outstanding state and federal claims. The company continues to deny wrongdoing and says it believes it would have won additional litigation, but the agreement would provide a path to end the long-running legal dispute.

Applied Digital Corp (APLD)

+1.35%

On watch after its Q4 and FY 2026 earnings report. Revenue grew by 407% year-over-year to $258.7 million, with net losses improving by 108% to reach $110.6 million. FY 2026 revenue grew by 167% year-over-year to $611.3 million. Approximately 27% of Applied Digital’s float is sold short.

Navitas Semiconductor Corp (NVTS)

-8.15%

Gapping down after its Q2 2026 earnings report. Revenue declined by 27% year-over-year to $10.5 million, above estimates of $9.97 million, with losses of $0.04 per share meeting analyst estimates. Adjusted gross margin grew by 100 basis points year-over-y ear to a better-than-expected 39.5%. The company projected Q2 revenue of $13.5 million, plus or minus $500,000; this projection beat estimates of $11.1 million.

Core Scientific Inc (CORZ)

+2.99%

Trading higher premarket after signing an AI infrastructure agreement with AMD that will provide AMD access to more than 500 MW of US data center capacity starting in 2027, with an option to expand the partnership to 2.5 GW. The companies will collaborate on infrastructure supporting AMD Instinct GPUs, EPYC CPUs, and ROCm software. AMD will receive market-priced warrants to purchase Core Scientific shares tied to certain commercial milestones.

BuzzFeed Inc (BZFD)

+7.95%

The company announced plans to cut approximately 35% of its workforce, including employees and dedicated contractors, as part of a restructuring expected to cost $6.5 million to $8.5 million. BuzzFeed expects the reductions to generate $29 million to $32 million in annualized savings, with most of the benefits beginning in Q3 2026.