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

0830 - Fed’s Goolsbee speaks
0905 - Fed’s Williams speaks

Nike Inc (NKE)

-5.72%

Gapping down after reporting earnings for fiscal Q3 2025. GAAP earnings of $0.54 per share and sales of $11.27 billion beat estimates of $0.28 and $11.01 billion, respectively, though sales dropped by 9% on a year-over-year basis. Revenue in every region declined on a year-over-year basis, led by a 17% plunge in greater China. Nike Direct, Nike Brand, and Wholesale revenue all experienced year-over-year declines. CEO Elliott Hill highlighted the company’s progress with regards to their “Win Now” strategic goals and said he believes Nike is “on the right path”.

Micron Technology Inc (MU)

-3.25%

Trading sharply lower premarket after its earnings report. Adjusted earnings of $1.56 per share beat estimates of $1.42, and sales of $8.05 billion exceeded expectations of $7.89 billion. The company guided Q3 earnings per share of $1.47 to $1.67, compared to estimates of $1.47, and projected revenue between $8.6 billion and $9 billion for the same period, above estimates of $8.485 billion.

Tesla Inc (TSLA)

+0.44%

The company held an all-hands meeting on Thursday night, led by CEO Elon Musk. During the meeting, Musk emphasized Tesla’s vision of "sustainable abundance" and highlighted advancements in Tesla's Supercharger network, Dojo supercomputer, and Optimus humanoid robot. He also encouraged investors to “hang on” to their stock as market and consumer sentiment towards the brand declines. Separately, car shopping site Edmunds published data suggesting that its users are trading in Tesla vehicles for cars from other brands at high rates in March 2025.

Quantum Stocks

-5.69%

Trading sharply lower as a group, led by a significant drop for Quantum Computing (QUBT) after its Q4 earnings report. The company reported losses of $0.87 per share, much larger than the expected loss of $0.05, with sales of $62,000 falling sharply below estimates of $200,000. The group was on watch on Thursday during the first-ever Quantum Day at Nvidia’s GTC 2025 event. Nvidia CEO Jensen Huang commented that he did not realize there were publicly-traded quantum stocks when reflecting on his earlier comments suggesting that practical quantum computing was decades away.

QUBT, QBTS, RGTI, IONQ

Super Micro Computer Inc (SMCI)

+0.97%

Trading higher premarket after JP Morgan upgraded the stock from Underweight to Neutral, raising its price target from $35 to $45. The analyst cited reduced uncertainty over SEC filings and strong demand for Blackwell-based servers as reasons for the upgrade. However, while revenue forecasts are improving due to a better supply ramp from Nvidia, JP Morgan noted that concerns remain over margin pressures in an increasingly competitive market.

Apple Inc (AAPL)

-0.71%

Bloomberg reported that the company has chosen Mike Rockwell, a member of the team that worked on the Vision Pro, to take over the Siri team as Apple continues to struggle with upgrading its digital assistant. This change means that the Siri team will no longer be led by John Giannandrea, senior vice president of Machine Learning and AI Strategy. The reported switch-up follows an offsite meeting of Apple executives, with the ultimate decision being made by CEO Tim Cook.

Chinese ADRs

-2.05%

Trading lower as a group in a tandem with Chinese stocks in Hong Kong, which recorded their worst two-day decline since October 2024 after the People's Bank of China held key interest rates steady on Thursday. Separately, Nio reported Q4 2024 losses of $0.43 per share, slightly larger than the expected loss of $0.42, while sales of $2.7 billion missed estimates of $2.85 billion. The Chinese EV company guided Q1 2025 revenue well below estimates.

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

FedEx Corp (FDX)

-7.92%

Gapping down after its Q3 2025 earnings report, with adjusted earnings of $4.51 falling short of the estimated $4.54. Sales of $22.2 billion for the quarter exceeded expectations of $21.98 billion. The company declined to provide effective tax rate or EPS guidance for fiscal 2025 and projected a slight year-over-year revenue decline for the fiscal year.

AstraZeneca PLC (AZN)

-1.10%

On watch after announcing a $2.5 billion investment in Beijing to establish its sixth global research and development center and expand its presence in China. The company also signed major research and manufacturing agreements to advance life sciences in the region. Separately, AstraZeneca unveiled a partnership with Harbour BioMed to develop next-generation therapeutic antibodies, committing $175 million upfront and up to $4.4 billion in milestone payments.

Allurion Technologies Inc (ALUR)

+67.98%

Gapping up after announcing the results from combining its Allurion Balloon with low-dose GLP-1 therapy, achieving an average 20.3% total body weight loss over eight months. Additionally, lean body mass increased by 15%, and all patients remained adherent to the GLP-1 treatment throughout the study. The stock has a float of 1.33 million shares.

TransCode Therapeutics Inc (RNAZ)

+44.16%

Gapping up on no apparent news catalyst. The stock, which has rallied several times in the past, has a float of 437,890 shares. Approximately 81.8% of TransCode’s float is sold short.