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

0815 - ADP employment change for October: Expected 30k; Prior -32k
0945 - S&P services PMI for October: Expected 55.2; Prior 55.2
0945 - S&P composite PMI for October: Expected 54.9; Prior 54.8
1000 - ISM services PMI for October: Expected 50.8; Prior 50
1000 - SCOTUS tariff hearing

Advanced Micro Devices Inc (AMD)

-5.21%

Gapping down after its Q3 2025 earnings report. The company posted adjusted earnings of $1.20 per share and sales of $9.246 billion, beating estimates of $1.16 and $8.744 billion, respectively. AMD guided Q4 revenue between $9.3 billion and $9.9 billion, above estimates of $9.15 billion and implying 25% year-over-year growth; this outlook did not include revenue from shipments of the MI308 to China. The company projected adjusted gross margin around 54.5% for the same quarter, in-line with analyst estimates.

Super Micro Computer Inc (SMCI)

-8.25%

Gapping down after its Q1 2026 earnings report, with adjusted earnings of $0.35 per share and sales of $5.018 billion missing estimates of $0.40 and $5.998 billion, respectively. Revenue, which declined by 15% year-over-year, was in-line with the company’s recently-revised guide of $5 billion for the quarter. Super Micro projected Q2 revenue between $10 billion and $11 billion, well above estimates of $7.829 billion, though its GAAP and adjusted EPS projections for the same quarter fell short of estimates.

Crypto Stocks

+1.21%

On watch as a group following outsized weakness in cryptocurrency on Tuesday, with Bitcoin falling below the key $100,000 level for the first time since June 2025. The cryptocurrency broke back below that level on Wednesday morning but has since rebounded, trading above $102,000 as of 7:15 AM ET. Ethereum was similarly weak on Tuesday, closing nearly 9% lower, but is up 1% early on Wednesday.

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

Microsoft Corp (MSFT)

-0.12%

The company, in partnership with Abu Dhabi’s G42, announced a 200-megawatt data center expansion in the UAE. This expansion, part of Microsoft’s more than $15 billion investment in the region, is expected to begin operations by late next year through G42’s Khazna Data Centers. Microsoft said its UAE investment will total $7.3 billion by the end of 2025, with an additional $7.9 billion planned through 2029, and confirmed U.S. approval to export advanced Nvidia chips for its Gulf data centers.

Pinterest Inc (PINS)

-18.33%

Gapping down after its Q3 2025 earnings report. Adjusted earnings of $0.38 per share missed estimates of $0.42, while sales of $1.049 billion fell in-line with estimates. Monthly active users grew by 12% year-over-year to reach 600 million, above estimates of $590.3 million, and adjusted EBITDA grew by 24% year-over-year. Revenue in the company’s Europe and Rest of World segments grew by 41% and 66% year-over-year, respectively, while revenue in the US and Canada region grew by 9%. Pinterest guided Q4 sales between $1.313 billion and $1.338 billion, compared to estimates of $1.336 billion.

Unity Software Inc (U)

+9.28%

Gapping up after its Q3 2025 earnings report. The company posted adjusted earnings of $0.20 per share, outperforming expectations of a $0.23-per-share loss, with sales of $470.615 million similarly exceeding estimates of $451.426 million. Revenue in the Create Solutions segment grew by 3% year-over-year, while Grow Solutions revenue grew by 6%. Unity guided Q4 sales between $480 million and $490 million, above estimates of $474.134 million.

Rivian Automotive Inc (RIVN)

+4.56%

Trading sharply higher premarket following its Q3 2025 earnings report. Adjust losses of $0.65 per share were narrower than the estimated $0.72-per-share loss, and sales of $1.558 billion exceeded estimates of $1.501 billion. Automotive revenue grew by 47% year-over-year to reach $1.14 billion, while software and services revenue grew by 324% to $416 million. Rivian continues to expect deliveries of 41,500 to 43,500 vehicles in fiscal 2025.

Novo Nordisk A/S (NVO)

+0.50%

On watch after its Q3 2025 earnings report. Adjusted earnings of $1.03 per share beat estimates of $0.77, but sales of $11.745 billion missed estimates of $11.88 billion. The company guided 8% to 11% sales growth for FY25 at constant exchange rates, narrower than its previous guide of 8% to 14% growth. CFO Karsten Munk Knudsen warned that growth is likely to decelerate heading into the end of the year.

Amazon.com Inc (AMZN)

-0.24%

The company filed a lawsuit against Perplexity AI on Tuesday, accusing the startup of using its “agentic” shopping feature to secretly access customer accounts and disguise automated activity as human browsing. The case underscores rising concerns over how AI agents interact with commercial websites as they become increasingly autonomous in performing online tasks.

Upstart Holdings Inc (UPST)

-14.04%

Gapping down after its Q3 2025 earnings report. Adjusted earnings of $0.52 beat estimates of $0.42, and sales of $277.105 million narrowly missed estimates of $279.623 million despite growing by 71% year-over-year. Adjusted EBITDA was reported at $71.2 million, above estimates of $56.3 million. The company cut its FY25 sales guide to $1.035 billion, below estimates of $1.056 billion, and its Q4 sales guide of $288 million missed estimates of $303.618 million.

Arista Networks Inc (ANET)

-10.13%

Gapping down after its Q3 2025 earnings report. Adjusted earnings of $0.75 per share beat estimates of $0.71, while sales of $2.308 billion exceeded the estimated $2.252 billion. Adjusted gross margin improved by 60 basis points year-over-year to reach 65.2%, above estimates of 63.2%. The company guided Q4 2025 revenue between $2.3 billion and $2.4 billion, compared to estimates of $2.33 billion. Arista guided adjusted gross margin between 62% and 63% for the same period, missing estimates of 63.2%.

Lemonade Inc (LMND)

+11.06%

Gapping up after its Q3 2025 earnings report. The company posted losses of $0.51 per share, narrower than estimates of a $0.73-per-share loss, with sales of $194.5 million also exceeding estimates of $184.511 million. Customers grew by 24% year-over-year, gross earned premium improved by 29%, and premium per customer increased by 5%. The company raised its FY25 sales guide to $727 million-$732 million, surpassing the estimated $713.719 million; its Q4 sales guide of $217 million-$222 million similarly beat estimates of $213.82 million.

SolarEdge Technologies Inc (SEDG)

-3.46%

Trading lower premarket after its Q3 2025 earnings report. Adjusted losses of $0.31 per share beat expectations of a $0.38-per-share loss, while sales of $340.177 million beat estimates of $336.119 million. The company guided Q4 2025 revenue between $310 million and $340 million, missing expectations of $345.906 million.

Clover Health Investments Corp (CLOV)

-21.02%

Gapping down after its Q3 2025 earnings report. The company reported losses of $0.05 per share, larger than the estimated loss of $0.03, though sales of $496.65 million beat estimates of $471.091 million. Approximately 14% of the stock’s float is sold short.

Nuvve Holding Corp (NVVE)

+67.18%

Gapping up on no apparent catalyst. The stock, which has rallied in the past, has a market capitalization of $4.25 million and a float of 18.47 million shares.