^{_{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 June: Expected 2.5%; Prior 2.3%
0830 - PCE price index m/m for June: Expected 0.3%; Prior 0.1%
0830 - Core PCE price index y/y for June: Expected 2.7%; Prior 2.7%
0830 - Core PCE price index m/m for June: Expected 0.3%; Prior 0.2%
0830 - Consumer spending m/m for June: Expected 0.4%; Prior -0.1%
0830 - Initial jobless claims: Expected 223.5k; Prior 217k
0945 - Chicago PMI for July: Expected 42; Prior 40.4

Meta Platforms Inc (META)

+12.33%

Gapping up after its Q2 2025 earnings report, with earnings of $7.14 per share and sales of $47.516 billion well above estimates of $5.79 and $47.516 billion, respectively. Revenue grew by 22% year-over-year, ad impressions increased by 11%, and family daily active people grew by 6%. The company guided Q3 revenue between $47.5 billion and $50.5 billion, above estimates of $45.87 billion, and expects FY2025 revenue between $114 billion and $118 billion.

Microsoft Corp (MSFT)

+8.34%

Gapping up following its Q4 2025 earnings report. Earnings of $3.65 per share and sales of $76.441 billion beat estimates of $3.37 and $73.797 billion, respectively. Microsoft posted year-over-year revenue growth across all its reporting segments, with Intelligent Cloud revenue growing by 26% and Productivity and Business Processes revenue increasing by 16%. The company guided revenue between $74.7 billion and $75.8 billion for Q1 2026, exceeding estimates of $74.066 billion.

Apple Inc and Amazon.com Inc

+0.45%

Both companies are slated to report quarterly earnings after the bell on July 31, 2025. Analysts are looking for Apple to post $88.53 billion in revenue alongside earnings of $1.42 per share, while Amazon is expected to post earnings of $1.33 per share and $162.17 billion. Amazon is trading sharply higher premarket, possibly in sympathy with Microsoft and Meta’s post-earnings rallies, and Apple is relatively flat.

AAPL, AMZN

Figma Inc (FIG)

0.00%

The software design developer that was previously set to be acquired by Adobe is making its public debut on the NYSE via an initial public offering on Thursday, July 31. The IPO is priced at $33, above the initial range of $30 to $32, and the offering itself raised $1.2 billion. Figma’s public trading debut follows successful IPOs from the likes of CoreWeave and Circle earlier this year.

Arm Holdings PLC (ARM)

-6.02%

Trading sharply lower premarket following its Q1 2026 earnings report. Adjusted earnings of $0.35 per share were in-line with analyst estimates, while sales of $1.053 billion missed estimates of $10.055 billion. Revenue grew by 12% year-over-year, with royalty revenue gaining by 25% and annualized contract value increasing by 28%. The company guided adjusted earnings between $0.29 and $0.37 per share for Q2, the midpoint of which is below estimates of $0.35, and guided in-line sales of $1.01 billion to $1.11 billion for the same period.

NVIDIA Corp (NVDA)

+2.12%

On watch after China's cybersecurity regulator raised security concerns over Nvidia's H20 AI chip, fearing potential backdoor risks that could compromise user data and privacy. The regulator summoned Nvidia for clarification, adding uncertainty to Nvidia's sales in China shortly after the reversal of a U.S. export ban.

Robinhood Markets Inc (HOOD)

-0.61%

The company reported Q2 earnings of $0.42 per share and sales of $989 million, beating estimates of $0.29 and $898.948 million, respectively. Transaction-based revenue soared by 65% year-over-year and grew across all segments, with cryptocurrencies revenue notably jumping by 98%. Total platform assets reached $279 billion this quarter, up 99% year-over-year. Additionally, CEO Vlad Tenev noted that the company is in talks with US regulators with regards to tokenized stock offerings.

Qualcomm Inc (QCOM)

-5.98%

The company reported adjusted earnings of $2.77 per share and sales of $10.365 billion for Q3 2025, exceeding estimates of $2.71 and $10.333 billion, respectively. Qualcomm guided Q4 sales between $10.3 billion and $11.1 billion, compared to estimates of $10.569 billion, and projected weaker-than-expected GAAP earnings of $2.23 to $2.43 per share for the same period. The midpoint of the company’s adjusted EPS guide for Q4 exceeded estimates.

Roblox Corp (RBLX)

+5.98%

Gapping up after reporting earnings for Q2 2025. The company reported losses of $0.41 per share for the quarter, outpacing the expected $0.36-per-share loss, but sales of $1.44 billion exceeded estimates of $1.21 billion. Roblox raised its sales guidance for the fiscal year to a range between $5.87 billion and $5.97 billion, well above estimates of $5.36 billion.

Norwegian Cruise Line Holdings Inc (NCLH)

+8.16%

Gapping up after reporting Q2 2025 earnings. Adjusted earnings of $0.51 per share were in-line with analyst estimates, while sales of $2.517 billion fell short of the expected $2.554 billion. The company maintained its adjusted earnings guide of $2.05 per share for fiscal 2025 and projected weaker-than-expected earnings for Q3 2025.

Carvana Co (CVNA)

+16.04%

Gapping up following its Q2 2025 earnings report. Earnings of $1.28 per share beat estimates of $0.97, and sales of $4.84 billion beat estimates of $4.53 billion. Revenue and vehicle sales increased by 42% and 41%, respectively, on a year-over-year basis. The company guided sequential growth in retail unit sales for Q3 in the event of a stable economic environment and projected adjusted EBITDA between $2 billion and $2.2 billion for the fiscal year.

CVS Health Corp (CVS)

+7.88%

Gapping up after its Q2 2025 earnings report. Adjusted earnings of $1.81 per share beat estimates of $1.46, and sales of $98.9 billion beat estimates of $94.849 billion. The company lowered its GAAP EPS guide for the fiscal year to $3.84-$3.94, below estimates of $4.33, but raised its adjusted EPS guidance for the same period to a better-than-expected range of $6.30-$6.40.

Align Technology Inc (ALGN)

-33.29%

The company reported adjusted earnings of $2.49 per share and sales of $1.012 billion for Q2, missing estimates of $2.57 and $1.059 billion, respectively. Align guided Q3 sales between $965 million and $985 million, well below estimates of $1.038 million.

Quantum Stocks

+4.05%

Trading higher as a group. On Thursday morning, IonQ announced a partnership with Oak Ridge National Laboratory to demonstrate a hybrid quantum‑classical computing approach for advanced power grid optimization. All of the names in this group have short floats of at least 10%.

RGTI, IONQ, QUBT, QBTS