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

1100 - President Trump makes an announcement
1100 - Fed’s Williams speaks
1100 - Fed’s Barr speaks
1200 - Fed’s Hammack speaks
1530 - Fed’s Waller speaks
1630 - Fed’s Paulson speaks

Snap Inc (SNAP)

+20.27%

Gapping up after its Q3 2025 earnings report. The company reported a smaller-than-expected loss of $0.06 per share, with sales of $1.506 billion beating estimates of $1.49 billion. Daily Active Users grew by 8% year-over-year, while Monthly Active Users increased by 7%. The company guided Q4 sales between $1.68 billion and $1.71 billion, compared to estimates of $1.688 billion, and announced a $500 million share buyback program. Additionally, Snap announced a $400 million deal with AI startup Perplexity to integrate the latter’s AI features into the Snapchat platform.

Marvell Technology Inc (MRVL)

+9.59%

Gapping up after Bloomberg reported that SoftBank explored an $80 billion takeover of the company earlier this year, aiming to merge it with Arm Holdings to form an AI-era semiconductor powerhouse. Although talks reportedly fell apart over terms, Marvell’s expertise in custom data center chips and integration made it a prime target for Masayoshi Son’s broader push to dominate AI infrastructure through SoftBank’s portfolio.

Tesla Inc (TSLA)

+0.54%

On watch of the company’s shareholder meeting, set to begin at 4:00 PM ET on November 6, during which CEO Elon Musk’s proposed $1 trillion pay package is set to be decided. Shareholders voted on the proposal in the days and weeks leading up to the meeting. On Wednesday, Wedbush’s Dan Ives noted that he expects strong support for the package, calling it key to Tesla’s AI-driven future; Morgan Stanley’s Adam Jonas, meanwhile, has warned that rejection could signal waning confidence in Musk and trigger a sharp selloff.

Robinhood Markets Inc (HOOD)

-0.09%

On watch after its Q3 2025 earnings report, with earnings of $0.61 per share and sales of $1.274 billion exceeding estimates of $0.48 and $1.192 billion, respectively. Revenue grew on a year-over-year basis in each of the company’s segments, including a more-than-300% increase in crypto revenue and 132% growth in equities revenue. Total platform assets grew by 119% year-over-year, Robinhood Gold subscribers increased by 77%, and average revenue per user improved by 82%. The company announced the retirement of Jason Warnick as CFO, effective Q1 2026.

NVIDIA Corp (NVDA)

+1.59%

Trading higher premarket after CEO Jensen Huang clarified comments that he made on China and AI during the Financial Times’ Future of AI Summit. Huang initially commented that China will end up winning the AI race against the US, citing factors like regulation and electricity subsidies. He later released a statement clarifying his long-held belief that China is “nanoseconds” behind the US when it comes to AI and highlighting the importance of America winning the AI race.

Duolingo Inc (DUOL)

-24.79%

Gapping down after its Q3 2025 earnings report. The company posted GAAP earnings of $5.95, which may not be comparable to estimates of $0.76, and sales of $271.7 million, which beat estimates of $260.3 million and marked 41% year-over-year growth. Daily Active Users grew by 36% but narrowly missed analyst estimates, while paid subscribers grew by 34%. Duolingo guided Q4 sales between $273 million and $277 million, compared to estimates of $274.559 million, and raised its FY25 sales guide to a better-than-expected range of $1.02 billion-$1.03 billion.

Celsius Holdings Inc (CELH)

-13.22%

Gapping down after its Q3 2025 earnings report. Revenue of $725.1 million beat estimates of $715.7 million, while adjusted earnings of $0.42 per share beat estimates of $0.28. Gross margin expanded by 530 basis points year-over-year to 51.3%. The company captured a 20.8% share of the energy category in the US during the quarter, with portfolio retail sales in the region growing by 31% year-over-year. Alani Nu and CELSIUS brand sales grew by 114% and 13%, respectively, though Rockstar sales declined by 9%.

e.l.f. Beauty Inc (ELF)

-21.07%

Gapping down after its Q2 2026 earnings report. Revenue grew by 14% year-over-year to $343.9 million, below estimates of $3.66 million, while adjusted earnings of $0.68 per share beat estimates of $0.57. Gross margin fell by 165 basis points year-over-year, attributed to tariff impacts. The company guided FY26 revenue between $1.55 billion and $1.57 billion, missing expectations of $1.65 billion. e.l.f. guided earnings between $2.80 and $2.85 per share for the same period, similarly missing estimates of $3.58.

AppLovin Corp (APP)

+8.66%

Gapping up after its Q3 2025 earnings report, with earnings of $2.45 per share and sales of $1.405 billion beating estimates of $2.41 and $1.336 billion, respectively. The company guided Q4 sales between $1.57 billion and $1.6 billion, above estimates of $1.546 billion.

Qualcomm and Arm Holdings

+1.06%

Both semiconductor companies reported earnings after the bell on Wednesday, November 5. Qualcomm posted adjusted earnings of $3 per share and sales of $11.27 billion for Q4 2025, beating estimates of $2.88 and $10.787 billion, respectively. The company guided FY26 sales between $11.8 billion and $12.6 billion, above estimates of $11.617 billion, and the midpoint of its FY26 EPS guide beat estimates. Arm posted adjusted earnings of $0.39 per share and sales of $1.135 billion for Q2 2026, beating estimates on both metrics, and guided stronger-than-expected Q3 earnings and sales. Qualcomm is trading marginally lower premarket, while Arm is trading sharply higher.

QCOM, ARM

Alibaba Group and Xpeng Inc

+3.03%

Both stocks are trading higher premarket after XPeng announced plans to launch robotaxi services in 2026 via Alibaba’s Amap platform, marking a major step in commercializing its AI technology. CEO He Xiaopeng unveiled new robotaxi models powered by XPeng’s Vision Language Action (VLA) AI, which outperformed Tesla’s FSD in testing. According to the announcement, Amap users should be able to hail XPeng’s self-driving vehicles directly as early as 2026.

BABA, XPEV

Lyft Inc (LYFT)

+6.67%

Gapping up after its Q3 2025 earnings report. Earnings of $0.11 per share beat estimates of $0.07, though sales of $1.685 billion missed estimates of $1.698 billion. The company guided year-over-year growth in the mid-high teens percentage for rides in Q4 2025 and projected a 17% to 20% increase in gross bookings.

Datadog Inc (DDOG)

+8.37%

Gapping up after its Q3 2025 earnings report, with adjusted earnings of $0.55 per share and sales of $885.651 million beating estimates of $0.46 and $852.781 million, respectively. The company guided adjusted EPS between $0.54 and $0.56 for Q4, above estimates of $0.46; its sales guide of $912 million-$916 million for the same period beat estimates of $887.27 million. Datadog also raised its adjusted EPS and sales projections for FY25, both of which now exceed expectations.

IonQ and D-Wave Quantum

+1.13%

Both quantum companies reported earnings ahead of Thursday’s session. IonQ reported a smaller-than-expected adjusted loss of $0.17 per share, with sales of $39.866 million also beating estimates of $26.982 million. The company raised its FY25 sales guide to $106 million-$110 million, above estimates of $91.325 million. D-Wave posted adjusted losses of $0.41 per share for the quarter, larger than the estimated $0.07-per-share loss, though sales of $3.738 million beat estimates of $3.033 million. IonQ is trading sharply higher premarket, while D-Wave is poised to open slightly lower.

IONQ, QBTS

Moderna Inc (MRNA)

+6.15%

Gapping up after its Q3 2025 earnings report. The company reported losses of $0.51 per share, far narrower than the estimated $2.02-per-share loss, with sales of $1.016 billion beating estimates of $886.539 million. Moderna narrowed its FY25 sales guide to $1.6 billion-$2 billion, compared to estimates of $1.899 billion.

Figma Inc (FIG)

+4.39%

Trading sharply higher premarket following its Q3 2025 earnings report, with adjusted earnings of $0.10 per share and sales of $274.173 million beating estimates of $0.05 and $265.213 million. The company guided Q4 sales between $292 million and $294 million, above estimates of $282.855 million, and raised its FY25 sales guidance to a better-than-expected range of $1.044 billion-$1.046 billion.

Oscar Health Inc (OSCR)

+7.69%

Gapping up after its Q3 2025 earnings report. The company reported losses of $0.53 per share, narrower than the estimated loss of $0.61 per share, though sales of $2.986 billion missed estimates of $3.082 billion. Oscar maintained its FY25 sales guidance of $12 billion-$12.2 billion, the midpoint of which exceeds analyst estimates of $12.039 billion.