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

0830 - Employment cost - benefits q/q for Q2: Expected 1.1%; Prior 1.2%
0830 - Employment cost - wages q/q for Q2: Expected 0.7%; Prior 0.8%
0830 - Employment cost index q/q for Q2: Expected 0.8%; Prior 0.9%
0945 - Chicago PMI for July: Prior 56.7
1000 - UMich consumer sentiment for July: Expected 54; Prior 49.5
1000 - UMich 5-year inflation expectations for July: Expected 3.3%; Prior 3.3%
1000 - UMich 1-year inflation expectations for July: Expected 4.2%; Prior 4.6%

Amazon.com Inc (AMZN)

+12.74%

Gapping up after its Q2 2026 earnings report, with revenue of $200.6 billion beating estimates of $196.4 billion. Earnings were reported at $5.75 per share, driven by a non-operating gain of $53.4 billion that was primarily attributed to the company’s investment in Anthropic. AWS sales came in at $42.2 billion, beating estimates of $40.5 billion and representing 37% year-over-year growth. Amazon projected Q3 2026 revenue between $197 billion and $202 billion, missing estimates of $204 billion. Its operating income outlook of $22.5 billion to $26.5 billion for the quarter was in-line with estimates of $24.79 billion.

Apple Inc (AAPL)

-7.33%

Gapping down after its Q3 2026 earnings report. Revenue of $109.42 billion beat estimates of $108.85 billion, while earnings of $2.02 per share beat estimates of $1.89. Greater China revenue grew by 22.4% year-over-year to $18.82 billion, below estimates of $19.58 billion. iPhone revenue grew by 21.7% to $54.25 billion, topping estimates of $53.6 billion; the company also beat revenue estimates for its Products and Mac but missed on iPad and closely-watched Services revenue. Apple projected 9% to 11% year-over-year revenue growth for Q4 2026, implying an outlook of $112 billion to $114 billion; analysts were looking for $114.84 billion.

Microsoft Corp (MSFT)

-0.55%

The stock gained more than 15% on Thursday, its best-ever single-session performance, as investors reacted to its Q4 2026 earnings report. Thursday’s session also saw Microsoft’s market capitalization expanding by nearly $450 billion in a single day, topping Nvidia’s $441-billion single-session market capitalization gains on April 9, 2025. The average price target on Microsoft’s stock after the report and rally stands at $560.90, as reported by Reuters.

Roblox Corp (RBLX)

-21.74%

Gapping down after its Q2 2026 earnings report. Revenue grew by 36% year-over-year to $1.5 billion, while bookings grew by 8% to $1.6 billion. Operating cash flow and free cash flow improved by 60% and 66%, respectively. Average daily active users reached 123 million, up 10%, with average monthly unique payers increasing by 15%. Roblox projected 4% to 10% year-over-year revenue growth and a 14%-18% decline in bookings for Q3 2026, though the company said its “conviction in the ability to 20%+ compounded top line growth over the long term has not changed”.

Novo Nordisk A/S (NVO)

-10.87%

Gapping down after its ziltivekimab treatment failed its Phase 3 ZEUS trial, showing no reduction in cardiovascular death, heart attack, or stroke despite successfully lowering inflammatory markers. The company said the setback will not impact its 2026 operating-profit outlook but will result in a Q3 noncash impairment. Other trials of the drug are set to continue.

Tesla and Space Exploration Technologies

+1.81%

The Wall Street Journal reported that Tesla is evaluating options for its China business ahead of its planned deal with SpaceX. While discussions remain preliminary and a decision has yet to be made, the options up for consideration reportedly include spinning off, selling, or shutting down operations in the region. The move would create a regulatory separation between Tesla’s China operations and SpaceX’s US defense business, addressing national security concerns tied to Chinese data access and dual-use technology. Elon Musk, CEO of both companies, derided the report as “absurdly fake news”.

TSLA, SPCX

Reddit Inc (RDDT)

-13.49%

Gapping down after its Q2 2026 earnings report. Revenue of $805 million and earnings of $1.25 per share beat estimates of $730 million and $0.95, respectively. Adjusted EBITDA grew by 106% year-over-year to $343 million, topping estimates of $297 million. Daily active unique users grew by 18% year-over-year to 130.3 million. The company projected Q3 2026 revenue between $860 million and $870 million, beating estimates of $829 million. Reddit’s adjusted EBITDA outlook of $385 million-$395 million for the same quarter similarly topped estimates of $369 million.

Coinbase Global (COIN)

-5.30%

Gapping down after its Q2 2026 earnings report, with revenue of $1.22 billion falling short of the estimated $1.29 billion. The company reported transaction revenue of $559.2 million and subscription and services revenue of $555.1 million, missing estimates of $635.1 million and $594.4 million, respectively. Coinbase’s crypto trading volume market share reached 10.3%, its third straight all-time high in this metric.

Rivian Automotive Inc (RIVN)

+3.73%

Trading sharply higher premarket after its Q2 2026 earnings report. Revenue of $1.66 billion topped estimates of $1.51 billion and represented 27% year-over-year growth, while losses of $0.63 per share came in-line with analyst estimates. The company posted adjusted EBITDA losses of $379 million, smaller than the expected loss of $550 million. In addition to hiking its deliveries outlook for FY 2026 back in July, Rivian projected better-than-expected adjusted EBITDA losses and lower-than-expected capital expenditures for the fiscal year.

Oil and Energy Stocks

+0.45%

President Donald Trump said the US-led Board of Peace has reached an agreement to disarm Hamas and other armed groups in Gaza as part of a broader plan to end the war, with Israeli forces set to withdraw as disarmament is completed. Hamas rejected immediate disarmament, saying it will only agree if the US and Israel first fulfill prior ceasefire commitments. Meanwhile, both Exxon Mobil and Chevron posted earnings for Q2 2026. Chevron sharply exceeded revenue and EPS estimates for the quarter; Exxon posted a hefty revenue beat but narrowly missed adjusted EPS estimates.

USO, CVX, XOM, OXY, BATL, EONR, COP, DVN, VIVK, SKYQ, TPET

Stryker Corp (SYK)

-7.48%

Gapping down after its Q2 2026 earnings report. The company posted revenue of $6.6 billion and adjusted earnings of $3.69 per share, beating estimates of $6.58 billion and $3.49, respectively. Stryker’s adjusted operating margin grew by 170 basis points to 27.4%, while organic net sales improved by 9%. The company narrowed its organic net sales growth and adjusted EPS projections for FY 2026.

Moderna Inc (MRNA)

-5.84%

Gapping down after its Q2 2026 earnings report. Revenue of $145 million beat estimates of $103 million and represented 2% year-over-year growth, while losses of $1.97 per share beat estimates of a $2.08-per-share loss. Net losses were reported at $800 million for the quarter, marking a 5% year-over-year improvement. The company’s mRNA-1403 treatment fell short of its “early success bar” for Phase 3. Moderna projected up to 10% year-over-year revenue growth for FY 2026.

Super Micro Computer Inc (SMCI)

+3.28%

Trading higher premarket after announcing a new portfolio of ORv3-standard racks designed for high-density, mission-critical AI data centers, featuring integrated liquid cooling to support high-performance compute workloads. The pre-validated, rack-scale systems are shipped ready to deploy, aiming to reduce total cost of ownership and accelerate AI infrastructure deployment.

BigBear.ai Holdings Inc (BBAI)

+2.81%

Trading higher premarket after its Q2 2026 earnings report. Revenue grew by 13% year-over-year to $36.7 million, above estimates of $36.4 million, though losses of $0.05 per share were slightly wider than the estimated $0.04-per-share loss. Adjusted EBITDA losses were reported at $11.6 million, larger than the expected loss of $7.2 million, though gross margin improved by 781 basis points to reach 32.8%. BigBear affirmed its FY 2026 revenue outlook of $135 million-$165 million, compared to estimates of $143 million.

Replimune Group Inc (REPL)

+129.21%

Gapping up after FDA advisers voted in favor of data supporting the company’s cancer therapy RP1 for a type of skin cancer, potentially improving the drug’s approval prospects. The FDA had previously rejected RP1 twice over concerns about insufficient evidence from a single-arm trial without a control group and requested additional proof of effectiveness. Replimune has a market capitalization of $1.05 billion and a float of 77.5 million shares, 30.5% of which are sold short.