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

0815 - ADP employment change for August: Expected 67.5k; Prior 104k
0830 - Trade balance for July: Expected -$77.9B; Prior -$60.2B
0830 - Initial jobless claims: Expected 230k; Prior 229k
0945 - S&P services PMI for August: Expected 55.4; Prior 55.4
0945 - S&P composite PMI for August: Expected 55.3; Prior 55.4
1000 - ISM services PMI for August: Expected 51; Prior 50.1
1205 - Fed’s Williams speaks

Salesforce Inc (CRM)

-7.25%

Gapping down after its Q2 2026 earnings report. The company posted adjusted earnings of $2.91 per share and sales of $10.236 billion, beating estimates of $2.78 and $10.135 billion, respectively. Revenue grew by 10% year-over-year, with annual recurring revenue in its Data Cloud and AI growing by 120%. Salesforce provided in-line adjusted EPS and sales guidance for Q3, though its GAAP EPS guide for the same period came in below estimates. The company also raised its adjusted EPS and sales guide for the fiscal year while lowering its GAAP EPS guidance for the same period.

American Eagle Outfitters Inc (AEO)

+26.80%

Gapping up following its Q2 2025 earnings report, with earnings of $0.45 per share and sales of $1.283 billion handily beating estimates of $0.20 and $1.237 billion, respectively. Revenue declined by 1% year-over-year, as did overall comparable sales, though sales for the company’s Aerie brand grew by 3%. CEO Jay Schottenstein noted that American Eagle’s fall season is starting on a positive note and highlighted the company’s recent campaigns with Sydney Sweeney and Travis Kelce.

NVIDIA Corp (NVDA)

+0.13%

On watch after Reuters reported that Chinese tech giants like Alibaba and ByteDance are still eager to buy the company’s AI chips, even as Beijing discourages such purchases,. These firms are reportedly working to secure H20 orders while also monitoring Nvidia’s planned Blackwell-based B30A chip, which could cost about twice the H20’s $10,000–$12,000 price if approved for sale in China. Separately, Bloomberg reported that Nvidia’s venture capital arm is making an investment in Quantinuum, a quantum company controlled by Honeywell.

Figma Inc (FIG)

-14.87%

Gapping down after its Q2 2025 earnings report, its first report since its IPO on July 31. The company posted breakeven earnings, below estimates of an $0.18-per-share profit, with sales of $249.64 million beating estimates of $228.2 million. Figma guided sales between $263 million and $265 million for Q3, beating estimates of $248.78 million; its sales guide of $1.021 billion-$1.025 billion also exceeded expectations. During the company’s earnings call, CFO Praveer Melwani announced Figma’s $91 million stake in a Bitcoin ETF as part of its Bitcoin treasury strategy.

C3.ai Inc (AI)

-12.77%

Gapping down following its earnings report, during which the company announced that Stephen Ehikian has succeeded founder Thomas Siebel as CEO as of September 1. Adjusted losses of $0.37 per share exceeded the estimated loss of $0.20 per share, and sales of $70.261 million similarly missed estimates of $94.577 million. C3.ai withdrew its guidance for FY26 and guided Q2 sales between $72 million and $80 million, well below estimates of $100.708 million.

Amazon.com Inc (AMZN)

+1.59%

The company completed its acquisition of Bengaluru-based fintech lender Axio for an undisclosed sum, gaining direct access to India’s lending market. The deal strengthens Amazon’s fintech footprint in the country, complementing its approvals to issue digital wallets and sell insurance. Separately, traders are circulating a SemiAnalysis report highlighting an “AWS AI Resurgence,” which notes Amazon’s rapidly expanding datacenter capacity. AWS is reportedly building over a gigawatt of infrastructure for Anthropic, including the world’s largest non-Nvidia AI cluster featuring nearly one million Trainium2 chips.

Apple Inc (AAPL)

-0.30%

Analysts continue to weigh in on the company’s stock ahead of its iPhone 17 launch event on Tuesday, September 9. Morgan Stanley expects the company to raise iPhone prices for the first time in seven years, removing the 128GB option for the iPhone 17 Pro and adding $100 to the iPhone 17 Air. The firm sees no surprises at the launch event but projects FY26 average selling price growth of 5%, well above the Street’s 1% estimate. Additionally, UBS reported that the company’s App Store revenue rose 11% y/y in August, slowing from 13% in July due to tougher comparisons. The firm maintained a Neutral rating and $220 price target on Apple’s stock.

Tesla Inc (TSLA)

+1.13%

Chinese media outlet Cailian reported that the company Tesla has received over 120,000 orders in China for its new six-seater Model Y L SUV - averaging nearly 10,000 orders per day - since its launch last month. The strong demand comes alongside a 3.7% price cut on the long-range Model 3 sedan as Tesla navigates sales challenges in the Chinese market.

Credo Technology Group Holding Ltd (CRDO)

+11.28%

Gapping up after its Q1 2026 earnings report. Adjusted earnings of $0.52 per share exceeded estimates of $0.36, and sales of $223.074 million exceeded expectations of $190.77 million. The company guided Q2 sales between $230 million and $240 million, well above estimates of $202.162 million.

Alphabet Inc (GOOGL)

-0.72%

A federal jury ordered the company to pay $425 million after finding it violated users’ privacy by collecting data even when tracking was turned off. The users who brought the case were seeking damages in excess of $31 billion. The jury ruled Google liable on two of three claims but found no malice, blocking punitive damages. The company plans to appeal the decision.

Ciena Corp (CIEN)

+16.53%

Gapping up after its Q3 2025 earnings report. The company posted adjusted earnings of $0.67 per share and sales of $1.22 billion, beating estimates of $0.53 and $1.18 billion, respectively. Ciena guided Q4 sales between $1.24 billion and $1.32 billion, exceeding estimates of $1.21 billion.

BrilliA Inc (BRIA)

+106.65%

Gapping up after declaring a $0.13-per-share cash dividend. The dividend is set to be paid on September 30, 2025.

HWH International Inc (HWH)

+35.44%

Trading higher premarket on no apparent news catalyst. The stock rallied on Tuesday before pulling back to begin Wednesday’s Session. HWH has a float of 860,000 shares, approximately 14.6% of which are sold short.