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

0830 - Goods trades balance for June: Expected -$98B; Prior -$96.42B
0830 - Retail inventories ex autos for June: Prior 0.2%
0900 - Case-Shiller home price y/y: Expected 2.91%; Prior 3.4%
1000 - JOLTs job openings for June: Expected 7.525M; Prior 7.769M
1000 - CB consumer confidence for July: Expected 96; Prior 93

Novo Nordisk A/S (NVO)

-12.55%

Gapping down after lowering its 2025 sales growth forecast to 8–14%, citing weaker-than-anticipated U.S. demand for Wegovy in the obesity market and Ozempic in the GLP-1 segment. The company also noted lower-than-expected penetration of Wegovy in certain international markets as a factor in the revised outlook. Separately, Novo Nordisk announced that Maziar Mike Doustdar has been appointed as CEO and President, effective August 7, 2025.

SoFi Technologies Inc (SOFI)

+6.28%

Gapping up after reporting Q2 2025 earnings, with adjusted earnings of $0.08 per share and sales of $858.23 million beating estimates of $0.06 and $801.486 million, respectively. The company raised its GAAP earnings guidance to $0.31 per share for fiscal 2025, better than estimates of $0.28. Its upwardly-revised revenue guide of $3.375 billion for the same period similarly exceeded expectations of $3.273 billion.

UnitedHealth Group Inc (UNH)

-3.61%

Trading sharply lower premarket after reporting weaker-than-expected Q2 2025 earnings. Adjusted earnings of $4.08 per share and sales of $111.616 billion missed estimates of $4.95 and $111.693 billion, respectively. The company reintroduced its sales and adjusted earnings guidance for fiscal 2025, both of which came in below estimates.

NVIDIA Corp and Taiwan Semiconductor

+1.53%

Reuters reported that the company has placed an order for 300,000 additional H20 AI chips with Taiwan Semiconductor, responding to unexpectedly strong demand from China and reversing its earlier strategy of relying solely on existing inventory. The H20, designed to comply with U.S. export restrictions, offers lower performance than Nvidia’s H100 or Blackwell chips and is now estimated to have a total stockpile of 900,000–1 million units. Nvidia is trading higher premarket, while Taiwan Semi is trading marginally lower.

NVDA, TSM

PayPal Holdings Inc (PYPL)

-2.45%

Trading lower premarket following its Q2 2025 earnings report. Adjusted earnings of $1.40 per share exceeded expectations of $1.29, and sales of $8.3 billion beat estimates of $8.082 billion. Total payment volume increased by 6% for the quarter, though payment transactions declined by 5%. PayPal raised its adjusted EPS guidance for FY25 to $5.15-$5.30, beating estimates of $5.09, and guided in-line earnings of $1.18-$1.22 per share for Q3 2025.

Spotify Technology SA (SPOT)

-4.11%

Trading sharply lower premarket following its Q2 2025 earnings report. Quarterly sales of $4.941 represented 10% year-over-year growth, but earnings per share came in well below analyst estimates. Monthly active users increased by 11% on a year-over-year basis, while premium subscribers and ad-supported monthly active users increased by 12% and 10%, respectively. The company guided Q3 sales of $4.949 billion, below estimates of $5.15 billion.

The Boeing Company (BA)

+2.39%

The company reported Q2 2025 sales of $22.75 billion, above estimates of $20.2 billion, and posted adjusted losses of $1.24 per share. Commercial airplane revenue was reported at $10.87 billion for the quarter, beating estimates of $10.4 billion. Operating cash flow also came in well above analyst estimates. Additionally, Boeing noted that it produced 38 of its 737 planes per month throughout Q2.

Microsoft Corp (MSFT)

+0.22%

On watch after Bloomberg reported that the company is in advanced negotiations with OpenAI to revise their partnership and secure long-term access to its technology. According to the report, Microsoft is looking for to secure this access even if OpenAI achieves artificial general intelligence (AGI), which could otherwise nullify parts of their current agreement. The discussions also involve Microsoft's ownership stake, intellectual property rights, and future product sharing. A deal between the two could potentially be finalized in the coming weeks.

United Parcel Service Inc (UPS)

-4.16%

Trading lower premarket after its Q2 2025 earnings report. Sales of $21.2 billion beat estimates of $20.87 billion, though adjusted earnings of $1.55 per share fell short of the expected $1.57. The company did not provide revenue and profit guidance for fiscal 2025, citing “macroeconomic uncertainty”, but guided $3.5 billion in capital expenditures and $3.5 billion in expense reductions for the period.

Stellantis NV (STLA)

-4.12%

Trading lower premarket after reporting earnings for H1 2025. Adjusted earnings for the period were reported at $0.20, down sharply from the $2.54 reported for H1 2024; sales of $84.24 billion also marked a steep year-over-year decline from $91.53 billion. Shipments increased by 5% on a year-over-year basis, with inventory increasing by 1%. The company expects a 1.5-billion-euro impact from tariffs for the fiscal year, though it did reinstate guidance for H2 2025.

Uber Technologies Inc (UBER)

-1.87%

TechCrunch reported that Waymo will launch its autonomous robotaxi service in Dallas in 2026 through a multiyear partnership with Avis, indicating that Waymo is expanding beyond its existing Uber collaborations. Uber also lost a legal battle in the UK that would have forced rival taxi operators outside of London to pay a 20% tax on their profits. The UK Supreme Court ruled that these private-hire companies don’t directly contract with passengers, reversing a previous decision that had backed Uber’s position and would have increased competitors' tax bills.

Merck & Co Inc (MRK)

-4.41%

Trading sharply lower premarket after its Q2 2025 earnings report. Adjusted earnings of $2.13 per share beat estimates of $2.04, while sales of $15.806 billion missed estimates of $15.941 billion. The company narrowed its FY25 sales guidance from $64.1 billion-$65.6 billion to $64.3 billion-$65.3 billion, compared to estimates of $65.102 billion. Merck also raised its adjusted EPS guide for the same period to $8.87-$8.97, in-line with estimates of $8.90.

ON Semiconductor Corp (ON)

+3.43%

The company announced a partnership with Nvidia to help upgrade AI data centers to a faster, more efficient 800-volt power system that cuts energy waste and boosts performance. Their advanced power tech helps move electricity more efficiently from the power source all the way to the AI chips, making next-gen data centers greener and more powerful.

DURECT Corp (DRRX)

+265.48%

Gapping up on no apparent news. The stock has a market capitalization of $17.16 million and a float of approximately 27.7 million shares, roughly 2.76% of which are sold short.