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

0830 - GDP growth rate q/q for Q3 (tentative): Prior 3.8%
0955 - Fed’s Bowman speaks
1315 - Fed’s Logan speaks

Meta Platforms Inc (META)

-8.49%

Gapping down after its Q3 2025 earnings report, which included a one-time $15.9 billion tax charge. As a result, earnings of $1.05 per share sharply missed estimates, though revenue of $51.24 billion beat estimates of $49.59 billion and represented 26% year-over-year growth. Family of Apps revenue beat estimates, and losses from Reality Labs were narrower than expected. Meta guided Q4 revenue between $56 billion and $59 billion, and raised the lower end of both its capital expenditures and expenses projections for FY25.

Alphabet Inc (GOOGL)

+7.44%

Gapping up after its Q3 2025 earnings report, with earnings of $2.87 per share and revenue of $102.35 billion beating estimates of $2.26 and $99.85 billion, respectively. The company reported year-over-year revenue growth in nearly all of its segments, with Google Cloud revenue growing by 34%, though Other Bets revenue dropped by 11%. Alphabet guided capital expenditures between $91 billion and $93 billion for FY25, compared to their prior guide of $85 billion.

Microsoft Corp (MSFT)

-2.69%

Trading lower premarket following its Q1 2026 earnings report, with revenue of $77.7 billion and GAAP earnings of $3.72 per share beating estimates of $75.33 billion and $3.67, respectively. The company recognized a $3.1 billion impact to their quarterly net income, attributed to its OpenAI investment. Revenue in the Azure & Other Cloud Services segment grew by 40%, year-over-year, Microsoft Cloud revenue increased by 26%, and Intelligent Cloud revenue grew by 28%. Microsoft also noted that they expect steeper capital expenditures growth in FY26 compared to that of FY25.

Rare-Earth Minerals Plays

+6.16%

Trading sharply higher as a group after China agreed to delay new export controls as part of an accord reached between President Trump and Chinese leader Xi Jinping. The US will also agreed to cut fentanyl-linked tariffs on China in half. Trump took to Truth Social following the meeting, announcing that the “rare earth issue has been settled.”

CRML, MP, UUUU, AREC, USAR, TMC

Chipotle Mexican Grill Inc (CMG)

-18.03%

Gapping down after its Q3 2025 earnings report. Adjusted earnings of $0.29 per share were in-line with estimates, while sales of $3.003 billion fell short of the expected $3.026 billion. Operating margin declined by 100 basis points on a year-over-year basis, with restaurant-level margin of 24.5% missing estimates of 25.5%. The company guided a low-single digit decline in comparable sales for FY25.

Apple and Amazon.com

+0.44%

Both companies are scheduled to report earnings after the bell on Thursday, October 30. Analysts are looking for Apple to post earnings of $1.73 per share and revenue of $101.27 billion. Amazon, meanwhile, is expected to report $177.96 billion in revenue and earnings of $1.58 per share.

AAPL, AMZN

Starbucks Corp (SBUX)

-4.24%

Trading sharply lower premarket following its Q4 2025 earnings report. Revenue of $9.59 billion beat estimates of $9.348 billion, though earnings of $0.52 per share missed estimates of $0.56 and represented a 35% year-over-year decline. Global comparable sales were reported at 1%, better than the expected 0.50% decline, while US comparable sales were flat and China comparable sales grew by 2%. For FY25, the company reported a 3% year-over-year increase in revenue and a 36% decline in adjusted EPS.

Eli Lilly and Co (LLY)

+5.22%

Gapping up after its Q3 2025 earnings report. Adjusted earnings of $7.02 per share and sales of $17.601 billion beat estimates of $5.70 and $16.016 billion, respectively. Mounjaro revenue grew by 109% year-over-year, while Zepbound revenue grew by 185%. The company raised its adjusted EPS guide for FY25 to $23-$23.70, well above estimates of $22.18. Eli Lilly raised its sales guidance for the same period to a new range of $63 billion to $63.5 billion, exceeding estimates of $61.65 billion.

Carvana Co (CVNA)

-7.32%

Gapping down after its Q3 2025 earnings report. GAAP earnings of $1.03 per share missed estimates of $1.24, though sales of $5.647 billion beat estimates of $5.061 billion. Net income grew by 115% on a year-over basis, with adjusted EBITDA improving by 48%. The company reported a 44% year-over-year increase in vehicles sold. Carvana guided adjusted EBITDA of at least $2.2 billion for FY25, above its prior guidance of $2 billion-$2.2 billion.

Roblox Corp (RBLX)

+8.97%

Gapping up after its Q3 2025 earnings report. Losses of $0.37 per share were narrower than the estimated loss of $0.48, while bookings of $1.92 billion exceeded estimates of $1.648 billion. Revenue grew by 48% year-over-year, average daily active users (DAUs) increased by 70%, and hours engaged grew by 91%. The company guided Q4 bookings between $2 and $2.05 billion, exceeding estimates of $1.808 billion; its bookings projection for FY25 also beat expectations.

Merck & Co Inc (MRK)

-2.99%

Trading sharply lower premarket following its Q3 2025 earnings report. Adjusted earnings of $2.58 per share and sales of $17.276 billion beat estimates of $2.35 and $16.963 billion, respectively. Revenue for Keytruda fell below estimates, as did sales in the Animal Health segment, though Gardasil revenue marginally outperformed expectations. The company narrowed its EPS and sales projections for FY25; its new EPS guide of $8.93-$8.98 exceeded estimates of $8.91, and the midpoint of its new sales guide also beat estimates.

Crocs Inc (CROX)

+7.55%

Gapping up after its Q3 2025 earnings report, with adjusted earnings of $2.92 per share and sales of $996.3 million beating estimates of $2.36 and $962.546 million, respectively. Crocs brand revenue dropped by 2.5% year-over-year, while HEYDUDE revenue declined by 21.6%. The company guided earnings between $1.82 and $1.92 per share for Q4, above estimates of $1.75, and projected an 8% year-over-year revenue decline.

Metsera Inc (MTSR)

+20.02%

Gapping up after Novo Nordisk submitted an unsolicited proposal to acquire the company in a deal valued at up to $8.5 billion. Metsera announced that Novo’s offer is deemed “superior” to that of Pfizer, whose bid for Metsera was worth $7.3 billion. Metsera has a market capitalization of $5.5 billion and a float of 48 million shares, just over 10% of which are sold short.

Cambium Networks Corp (CMBM)

+120.01%

Gapping up following a strong performance during Wednesday’s session. On Wednesday morning, the company announced that its ONE Network is being integrated with Starlink in order to heighten connections to Low Earth Orbit (LEO) satellites. The company has a market capitalization of $83.32 million and a float of 12.65 million shares, approximately 12.6% of which are sold short.