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

0830 - PCE price index m/m for September: Expected 0.2%; Prior 0.1%
0830 - PCE price index y/y for September: Expected 2.1%; Prior 2.2%
0830 - Core PCE price index m/m for September: Expected 0.3%; Prior 0.1%
0830 - Core PCE price index y/y for September: Expected 2.6%; Prior 2.7%
0830 - Personal spending m/m for September: Expected 0.4%; Prior 0.2%
0830 - Personal income m/m for September: Expected 0.2%; Prior 0.2%
0945 - Chicago PMI for October: Expected 47; Prior 46.6

Microsoft Corp (MSFT)

-3.75%

Trading lower premarket following its Q1 2025 earnings report. GAAP earnings of $3.30 per share beat estimates of $3.09, and sales of $65.6 billion beat estimates of $64.51 billion. The company reported a 14% year-over-year increase in operating income, a 20% increase in its Intelligent Cloud revenue, and a 33% increase in Azure and cloud services revenue within the Intelligent cloud segment. Microsoft noted that it is expecting its significant investment in OpenAI to negatively impact its Q2 2025 income by $1.5 billion.

Meta Platforms Inc (META)

-2.92%

The company reported adjusted earnings of $6.03 and sales of $40.589 billion for Q3 2024, above estimates of $5.25 and $40.286 billion, respectively. Revenue increased by 19% year-over-year, family daily active people grew by 5%, and ad impressions grew by 7%. The company’s costs and expenses jumped by 14% year-over-year. Meta guided Q4 revenue between $45 and $48 billion, compared to the expected $46.31 billion, and guided a “meaningful” increase in operating losses for Reality Labs.

Super Micro Computer Inc (SMCI)

-4.63%

Continuing to trade sharply lower premarket after dropping by more than 30% on Wednesday. The company announced via a filing that its independent auditor, Ernst & Young (EY), resigned due to governance concerns and doubts about management's transparency. EY’s resignation followed issues raised in July, prompting Super Micro’s board to investigate. Super Micro also announced a business update call for Q1 fiscal 2025 scheduled on November 5, 2024.

Uber Technologies Inc (UBER)

-5.58%

Trading sharply lower premarket following its Q3 earnings report. The company reported Q3 sales of $11.2 billion, up 20% year-over-year and beating estimates of $10.978 billion, and earnings of $1.20 per share. The company guided Q4 gross bookings between $42.75 billion and $44.25 billion, compared to estimates of $43.68 billion, and adjusted EBITDA of $1.78 billion to $1.88 billion, compared to the expected $1.83 billion.

Robinhood Markets Inc (HOOD)

-10.07%

Gapping down after its earnings report, with GAAP earnings of $0.17 meeting analyst estimates and sales of $637 million missing estimates of $650.67 million. The company noted a 7% year-over-year increase in monthly active users and a 76% increase in assets under custody, the latter of which was attributed to an increase in equity and crypto valuations. Robinhood guided FY 2024 non-GAAP adjusted operating expenses between $1.85 billion and $1.95 billion.

Carvana Co (CVNA)

+19.48%

Gapping up after its Q3 earnings report, with GAAP earnings of $0.64 per share and sales of $3.655 billion beating estimates of $0.17 and $3.45 billion, respectively. Quarterly vehicle sales rose by 34% year-over-year. The company raised its adjusted EBITDA guidance to “significantly above” its previous range of $1 billion to $1.2 billion, and CEO Ernie Garcia noted that the company is “just getting started” when it comes to efficient growth and cost reduction.

Starbucks Corp (SBUX)

+0.39%

The company reported adjusted earnings of $0.80 per share and sales of $9.074 billion, missing estimates of $1.03 and $9.375 billion, respectively. Comparable transactions dropped by 8% year-over-year while average tickets increased by 2%. Comparable store sales dropped by 7% globally and by at least 6% in every region. New CEO Brian Niccol emphasized plans for Starbucks to return to growth by focusing on its brand identity and positive customer experiences.

Li Auto Inc (LI)

-5.18%

Trading sharply lower with volume after its Q3 2024 earnings report. Earnings of $0.52 per share and sales of $6.11 billion exceeded expectations of $0.42 and $5.84 billion, respectively. Li reported vehicle sales of $5.9 billion for the quarter, up 22.9% year-over-year, with quarterly vehicle deliveries rising by 45.4%. The company guided Q4 revenue between $6.2 billion and $6.5 billion and is expecting to deliver 160,000 to 170,000 vehicles during the quarter.

Roku Inc (ROKU)

-13.92%

Gapping down following its Q3 2024 earnings report. The company reported a smaller-than-expected loss of $0.06 per share and sales of $1.062 billion, above estimates of $1.017 billion. Platform and device revenue rose by 15% and 23% year-over-year, respectively, with the number of streaming households rising by 2 million on a quarterly basis. Roku guided 16% year-over-year revenue growth and adjusted EBITDA of $30 million for Q4 2024.

Peloton Interactive Inc (PTON)

+9.32%

Gapping up after its earnings report, where the company announced that former Ford executive has been appointed president and CEO. The company reported flat earnings compared to estimates of a 16-cent loss per share, with revenue of $586 million surpassing estimates of $574.843 million. The company guided revenue for the current quarter between $640 million and $660 million, below estimates of $671.4 million; its paid app subscriber guidance also missed estimates.