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

0815 - ADP employment change for February: Expected 140k; Prior 183k
0945 - S&P services PMI for February: Expected 49.7; Prior 49.7
0945 - S&P composite PMI for February: Expected 50.4; Prior 50.4
1000 - ISM services PMI for February: Expected 52.5; Prior 52.8
1000 - Factory orders m/m for January: Expected 1.7%; Prior -0.9%

Crypto Stocks

+3.15%

Trading higher in tandem with Bitcoin, which is poised for its second straight green day. The cryptocurrency rallied on Sunday after President Donald Trump announced plans for a crypto reserve, but it gave back the entire move on Monday. Bitcoin is above $90,000 as of Wednesday morning. Additionally, Commerce Secretary Howard Lutnick commented that Bitcoin will play a key role in Trump’s aforementioned crypto reserve amid concerns that altcoins were being unduly considered or centered.

COIN, MSTR, MARA, RIOT, IBIT, ETHE, HUT, CLSK, IREN, CAN, HIVE

CrowdStrike Holdings Inc (CRWD)

-7.34%

Gapping down after its fiscal Q4 2025 earnings report. Adjusted earnings of $1.03 per share and sales of $1.058 billion beat estimates of $0.85 and $1.032 billion, respectively. The company guided adjusted earnings between $0.64 and $0.66 per share for Q1 2026, below estimates of $0.95, with revenue guidance of $1.1 billion to $1.106 billion coming in-line with estimates. CrowdStrike’s EPS guidance of $3.33 to $3.45 for FY 2026 also came in well below estimates of $4.42.

Palantir Technologies Inc (PLTR)

+2.81%

Trading higher premarket after William Blair upgraded its rating for the stock from Underperform to Market Perform. The analyst attributed the upgrade to the company’s new valuation following its 33% drop from $125 to $84, though it still sees downside risk from government contract delays. While the stock could rebound if market sentiment shifts, the firm expects range-bound trading with high volatility, especially with a potential government shutdown on March 15.

Tesla Inc (TSLA)

+1.11%

Data from the Society of Motor Manufacturers and Traders revealed that the company’s February registrations grew by 21% year-over-year in the UK. This increase came in spite of a 1% drop in overall car registrations in the region, and as Tesla grapples with declining registrations in other areas of the world. Separately, the company is offering a limited-time ¥8,000 ($1,101) insurance subsidy in China for Model 3 buyers who place orders before March 17, along with a 5-year 0% interest financing option for select variants.

Alphabet Inc (GOOGL)

+0.57%

On watch after Reuters reported that the company is urging the U.S. government to reconsider its antitrust cases. The company is reportedly arguing that proposed remedies—such as divesting Chrome and ending default search deals—could harm the economy and national security. Separately, the South China Morning Post reported that Chinese smartphone brands like Xiaomi and Oppo are showcasing new AI phones which are powered by Google’s Gemini.

Moderna Inc (MRNA)

+8.79%

Gapping up after CEO Stephane Bancel disclosed a share purchase. Bancel purchased 160,314 Moderna shares at an average rise of $31.22, valuing the purchase at just over $5 million. Approximately 12.4% of the stock’s float is sold short.

Intel and Micron

+0.83%

On watch as a pair after President Donald Trump called for repealing the 2022 CHIPS Act, arguing that its $52.7 billion in semiconductor subsidies are wasteful and should instead be used to reduce U.S. debt. His remarks come after the previous US administration finalized over $33 billion in awards. Intel received $7.86 billion in awards, while Micron received $6.1 billion.

INTC, MU

Chinese ADRs

+2.34%

Trading higher as a group following a 2.84% gain for the tech-heavy Hang Seng Index during China’s trading session on Wednesday. The surge came as Beijing reaffirmed support for the sector and set an ambitious 5% growth target at the National People’s Congress. This growth target has led investors to speculate on the possibility of further stimulus amid ongoing trade and geopolitical challenges.

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

Abercrombie & Fitch and Foot Locker

-2.45%

Both retailers are on watch after releasing their respective earnings reports before the bell. Foot Locker reported adjusted earnings of $0.86 per share, beating estimates of $0.72, but sales of $2.243 billion missed estimates of $2.322 billion. The company guided adjusted earnings of $1.35 to $1.65 per share for FY 2025. Abercrombie, meanwhile, reported adjusted earnings of $3.57 per share and sales of $1.585 billion, beating estimates of $3.52 and $1.563 billion, respectively. The company also announced a $1.3 billion share buyback program.

Credo Technology Group Holding Ltd (CRDO)

-3.53%

Trading sharply lower premarket after its Q3 2025 earnings reported. The company reported adjusted earnings of $0.25 per share and sales of $135 million, beating estimates of $0.18 and $120.061 million, respectively. Credo guided Q4 revenue between $155 million and $165 million, above estimates of $137.435 million.

BioXcel Therapeutics Inc (BTAI)

+21.11%

Gapping up after announcing the completion of its $14 million registered direct offering. The offering, which was announced on Monday afternoon, followed a significant rally for the stock on news that the FDA had closed its inspection of one of the company’s sites. BioXcel has a float of approximately 1.96 million shares, roughly 11% of which are sold short.