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

1000 - Wholesale inventories m/m for May: Expected -0.3%; Prior -0.3%
1400 - FOMC meeting minutes

Amazon.com Inc (AMZN)

+0.31%

A filing with the SEC revealed that founder and executive chairman Jeff Bezos sold another $666 million worth of Amazon shares over the last week week under a pre-arranged trading plan. This brings Bezos’ total to over $1.4 billion as he moves toward his goal of offloading $5 billion in stock by May 2026. Even after the sales, Bezos still holds over 902 million shares—nearly 10% of Amazon—valued at approximately $197 billion.

Meta Platforms Inc (META)

+0.25%

On Tuesday afternoon, Bloomberg reported that the company has acquired nearly a 3% stake—valued at around €3 billion—in EssilorLuxottica, the eyewear giant behind Ray-Ban and Oakley. The move comes as Meta prepares to expand its AI-powered smart glasses lineup under brands like Oakley and Prada, building on the success of its Ray-Ban Meta glasses.

Microsoft Corp (MSFT)

+0.85%

Trading marginally higher premarket after Oppenheimer upgraded the stock to Outperform with a $600 price target, citing strong Azure growth and increasing investor focus on the company’s rapidly scaling AI revenue stream. The firm believes Microsoft's potential AI-driven acceleration in FY26 and its ability to maintain a "Rule of 60" business profile at scale justify premium valuation multiples.

Starbucks Corp (SBUX)

+1.63%

Trading higher premarket after Bloomberg reported that the company is considering selling a controlling stake in its China business, shifting from its original plan to sell only a minority stake. The report indicated that Starbucks is reviewing bids from potential investors, including private equity firms and industry players, as it seeks a partner to help revive growth in the Chinese market.

UnitedHealth Group Inc (UNH)

-1.33%

The Wall Street Journal reported that investigators from the US Justice Department's criminal healthcare-fraud unit are interviewing former UnitedHealth employees as part of their investigation into the company’s Medicare Advantage billing practices. The investigation is reportedly focused on whether the company improperly encouraged doctors and nurses to document lucrative diagnoses to increase federal payments. According to the report, former employees are being asked about training practices, home-visit procedures, bonus incentives, and diagnostic tools like QuantaFlo.

Tesla Inc (TSLA)

+0.48%

The company’s Tesla's Model Y sales in China rose 9.09% year-over-year in June to 44,848 units, according to data shared by CnEVPost. This numbers mark a rebound from a two-month slump and an 81% increase from May, though year-to-date sales remain down 17.48%.

Apple Inc (AAPL)

-0.04%

On watch after announcing that COO Jeff Williams, once seen as a potential successor to CEO Tim Cook, will retire later this year after more than two decades with the company. Sabih Khan, currently SVP of operations and a 29-year Apple veteran, will take over COO duties later this month. William is set to stay on at Apple temporarily to support the design team transition.

Super Micro Computer Inc (SMCI)

-0.73%

Trading lower premarket after BofA Securities initiated coverage on the stock with an Underperform rating and a $35 price target. The rating was attributed to concerns over margin pressure, component availability, and increasing competition from Dell and HPE. The firm also flagged risks related to potential commoditization of liquid cooling, ongoing litigation, and internal control issues. BofA Securities projects a notable decline in Super Micro’s gross margins despite higher-than-consensus revenue estimates.

Chinese ADRs

-1.54%

Trading lower as a group following weak overnight sessions for the CSI 300 and Hang Sang indices, with the tech-heavy Hang Seng Index closing more than 1% lower. Alibaba is separately on watch after announcing the completion of its previously-announced offering of zero coupon exchangeable bonds.

BABA, BILI, BIDU, PDD, JD, LI, XPEV, NIO, FXI, KWEB

Pharma Stocks

+0.43%

On watch after President Donald Trump indicated on Tuesday that he is considering a 200% tariff on pharmaceutical drugs. Trump noted that semiconductor chip and drug tariffs, along with a 50% tariff on copper, are likely to be announced and imposed soon. Separately, Merck announced plans to acquire Verona Pharma in a deal valued at $10 billion.

MRK, VRNA, LLY, PFE, MRNA, NVO

Intel Corp (INTC)

-0.64%

On watch after closing more than 7% higher on Tuesday without any clear catalyst. Several outlets have reported that the company is beginning to cut jobs in Oregon as part of a layoff plan which first emerged in late April 2025. After the close on Tuesday, subsidiary Mobileye announced a secondary offering of 45 million shares by a separate unit of Intel.

AES Corp (AES)

+13.82%

Gapping up after Bloomberg reported that the company is exploring a potential sale following takeover interest from major private equity and infrastructure investors. The interest comes after a steep decline in AES’s stock price over the last two years; the stock is also down 13% so far this year.

ProKidney Corp (PROK)

+69.97%

Poised to continue its rally after closing more than 500% higher on Tuesday, when the company announced significant topline results from a trial for one of its treatments. On Wednesday morning, ProKidney announced its participation in the H.C. Wainwright Annual Kidney Virtual Conference on Monday, July 14. Approximately 17.8% of the stock’s float is sold short.