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

0830 - Balance of trade for January: Expected -$128.8B; Prior -$98.4B
0830 - Initial jobless claims: Expected 233k; Prior 242k
0845 - Fed’s Harker speaks
1000 - Wholesale inventories m/m for January: Expected 0.5%; Prior 1%
1200 - Treasury Secretary Bessent speaks
1530 - Fed’s Waller speaks

Marvell Technology Inc (MRVL)

-16.69%

Gapping down after its earnings report for fiscal Q4 2025. Adjusted earnings of $0.60 per share and revenue of $1.82 billion beat estimates of $0.59 and $1.8 billion, respectively. Total revenue grew by 27% year-over-year, with data center revenue rising 78% year-over-year. The company guided Q1 2026 earnings between $0.56 and $0.66 per share versus estimates of $0.60. Marvell guided revenue of $1.875 billion for the same period, slightly above estimates of $1.87 billion.

Palantir Technologies Inc (PLTR)

-1.99%

According to a Form 4 filed with the SEC on Wednesday evening, one of the company’s directors made a significant share sale on March 3. The filings show that Alexander D. Moore sold roughly $1.74 million in Palantir stock on Monday. The prices of the shares sold ranged from $83.10 to $90.21 per share, and the sale was conducted as part of a trading plan.

Big Tech and Automakers

-1.74%

Trading lower as a group, in tandem with a 1.3% drop in the Nasdaq, as market participants continue to digest the impacts of tariffs from the US. On Wednesday, White House Press Secretary Karoline Leavitt announced that automakers will be exempt from tariffs for goods from Mexico and China until April 2, 2025; at that point, reciprocal tariffs are set to be unveiled. President Donald Trump confirmed on Wednesday that he spoke with Canadian Prime Minister Justin Trudeau, but he indicated that the two were not able to come up with a solution to the tariffs at that time.

MSFT, META, NVDA, GOOGL, GM, F, STLA

Tesla Inc (TSLA)

-2.29%

Trading lower premarket after Baird lowered its price target for the stock from $440 to $370, calling the stock a Bearish Fresh Pick. The price target decrease and designation were attributed to near-term challenges like Model Y production downtime and demand uncertainty. While maintaining a long-term positive outlook, the firm expressed bearish sentiment for Tesla through Q1, with risks to delivery estimates due to the ongoing refresh and potential impact from Musk's political involvement. Additionally, Bloomberg reported that the company is planning to build a third megafactory in Texas, focusing on the production of Megapacks for large-scale energy storage.

Amazon.com Inc (AMZN)

-1.50%

Swami Sivasubramanian, a long-time Amazon employee and vice president, revealed on Wednesday Amazon Web Services (AWS) is forming a new unit to develop AI agent software. This unit aims to enhance automation and problem-solving with human-like reasoning. With competitors like Microsoft and Google advancing in agentic AI, AWS sees this as a multibillion-dollar opportunity, leveraging its cloud dominance and internal AI adoption to stay ahead.

Apple Inc (AAPL)

-0.58%

On watch after supply chain analyst Ming-Chi Kuo predicted that Apple’s reported foldable iPhone could be released by 2026. While final specs may be confirmed by Q2 2024, mass production is expected to begin in late 2026, with shipments potentially reaching 20 million units by 2027. On Wednesday morning, Apple revealed its new MacBook Air models, featuring the M4 chip and a $100 discount.

Zscaler Inc (ZS)

+4.01%

The company reported adjusted earnings of $0.78 per share and sales of $647.9 million, beating estimates of $0.69 and $634.4 million, respectively. Revenue grew by 23% on a year-over-year basis, while calculated billings increased by 18%. The company guided Q3 2025 earnings between $0.75 and $0.76 per share, slightly above estimates of $0.74, though projected revenue of $665 million to $667 million fell short of the expected $667.25 million. Zscaler’s guidance for fiscal 2025 similarly exceeded EPS estimates but missed on revenue.

JD.Com and Alibaba

+3.04%

Both Chinese ADRs are trading higher premarket. JD reported earnings before the bell on Thursday, with adjusted EBITDA and revenue beating estimates. The company’s operating income for Q4 more than quadrupled on a year-over-year basis to reach 8.5 billion yuan, and total revenue increased by 13.4%. Retail and logistics revenue grew by 14.7% and 10.4%, respectively, but new businesses revenue dropped by 35%/. Meanwhile, Alibaba closed 8.6% higher during the US session on Wednesday after unveiling its new AI reasoning model, QwQ-32B, which it claims rivals DeepSeek-R1 despite operating with significantly fewer parameters.

JD, BABA

MongoDB Inc (MDB)

-18.75%

Gapping down after its Q4 2025 earnings report. Adjusted earnings of $1.28 per share beat estimates of $0.66, and revenue of $548.4 million grew 20% to surpass estimates of $519.6 million. The company guided adjusted earnings between $2.44 and $2.62 per share for fiscal 2026, well below estimates of $3.34. The company’s FY 2026 revenue guidance of $2.24 billion to $2.28 billion also missed estimates of $2.325 billion.

Macy’s Inc (M)

-3.93%

Trading sharply lower premarket following its Q4 earnings report. Adjusted earnings were reported at $1.54 per share. Revenue of $7.77 billion beat estimate of $7.76 billion but dropped 4.3% year-over-year. The company guided revenue between $21 billion and $21.4 billion for the fiscal year, below estimates of $21.66 billion, and projected adjusted earnings between $2.05 and $2.25 per share, below estimate of $2.31.

Rigetti Computing Inc (RGTI)

-11.91%

Gapping down after its earnings report. The company reported $2.27 million in revenue, missing estimates of $2.5 million and marking a 32.6% year-over-year drop. Rigetti reported losses of $152.96 million for the quarter.