IBM crashed 23 percent on an earnings warning, the chip names are green while software sells off, and it all lands on the busiest macro day of the week with CPI and the big banks reporting. Here is your day trading watch list for July 14.
Here is your premarket gapper watch list for Tuesday, July 14, 2026, built for day trading. This market news roundup covers the overall direction of today's session and why the biggest premarket movers are gapping, from the IBM (IBM) earnings warning to strength in Micron (MU) and the chip names, plus the SHPH low float squeeze. Every mover below comes straight from this morning's scan with volume, float, and daily ATR so you can see what is running before the open.
Market Direction and News, July 14, 2026
This is a two sided, headline heavy session, and the big number landed in the market's favor. June CPI came in cooler than expected across the board. Headline inflation fell 0.4 percent for the month, versus a 0.1 percent decline expected, bringing the annual rate to 3.5 percent, below the 3.8 percent estimate. Core CPI was flat at 0.0 percent for the month, versus 0.2 percent expected, and the annual core rate eased to 2.6 percent from an estimated 2.8 percent. That is a soft print that takes some pressure off rate fears. The reaction is tech and growth led, with technology up more than 1 percent, NVIDIA and the chip names green, while financials, consumer staples, and utilities sit slightly lower and software stays weak after the IBM warning. JPMorgan reported a strong quarter, and CEO Jamie Dimon called the economy resilient while flagging mounting market risks, and oil remains bid after the Hormuz blockade. The net read is a risk on lean led by chips and growth on the cool inflation print, but breadth is mixed, so favor the strong side rather than chasing everything.
Why Is IBM Stock Down?
IBM (IBM) dropped about 23 percent premarket after warning that preliminary second quarter results fell short. Adjusted earnings came in near 2.93 dollars per share on 17.2 billion dollars in revenue, below the roughly 3.01 dollars and 17.86 billion that Wall Street expected. CEO Arvind Krishna said clients shifted spending toward servers, storage, and memory chips to secure supply ahead of price increases, which hurt the software and infrastructure business, and several large deals slipped. That is a big single day move for a stock this size.
Why Are Chips Up While Software Is Down?
The IBM warning actually explains both sides of today's tape. IBM said its customers redirected budget away from software and toward memory and servers. That is a tailwind for the chip and memory names, and Micron (MU), SanDisk (SNDK), Marvell (MRVL), AMD, and Intel (INTC) are all higher. It is a headwind for enterprise software, and ServiceNow (NOW), Oracle (ORCL), Microsoft (MSFT), and Palantir (PLTR) are all lower. One catalyst, two directions.
Why Is SHPH Stock Up?
Shuttle Pharmaceuticals (SHPH) gapped up more than 65 percent premarket on heavy volume with no clear company news. Short interest had jumped more than 300 percent into late June, so this has the look of a low float short squeeze on a float of roughly 5.4 million shares rather than a fundamental catalyst. Names like this move fast in both directions.
Premarket Gappers Up, July 14, 2026
Symbol | Change | Volume | Price | Daily ATR(14) | Float | Why It Is Moving |
|---|---|---|---|---|---|---|
SHPH | 65.44% | 22.58M | 4.98 | 0.62 | 5.44M | Low float squeeze, high short interest, no news |
CLSK | 14.42% | 3.87M | 14.16 | 1.38 | 245.68M | Bitcoin miner, crypto strength |
RAM | 7.04% | 3.63M | 15.67 | 4.20 | 2.30M | Low float momentum |
AXTI | 6.04% | 431,188 | 53.52 | 9.20 | 61.32M | Semiconductor materials momentum |
SKHY | 4.85% | 2.63M | 160.95 | 10.98 | 525.55M | Momentum |
MRVL | 3.59% | 878,680 | 225.00 | 22.80 | 872.29M | Chip strength |
SNDK | 3.40% | 770,500 | 1,730.01 | 245.28 | 139.87M | Memory demand, IBM read through |
AMD | 3.16% | 434,277 | 551.31 | 38.39 | 1.62B | Chip strength |
MU | 2.88% | 1.52M | 964.00 | 97.59 | 1.07B | Memory demand, IBM read through |
INTC | 2.52% | 2.72M | 105.65 | 10.01 | 3.95B | Chip strength |
CANF | 2.47% | 899,311 | 3.32 | 0.58 | 0.81M | Micro float momentum |
NBIS | 2.05% | 430,080 | 214.58 | 26.24 | 206.56M | AI name bounce |
Premarket Gappers Down, July 14, 2026
Symbol | Change | Volume | Price | Daily ATR(14) | Float | Why It Is Moving |
|---|---|---|---|---|---|---|
IBM | -22.99% | 3.87M | 223.60 | 12.16 | 839.63M | Q2 earnings warning, revenue miss |
VEEE | -14.08% | 733,443 | 21.40 | 2.84 | 1.80M | Low float fade |
NOW | -7.81% | 1.04M | 102.59 | 5.59 | 1.04B | Enterprise software weakness |
PLTR | -5.01% | 1.04M | 123.55 | 6.75 | 2.21B | Software and AI pullback |
SKYQ | -4.03% | 809,952 | 3.82 | 0.87 | 3.46M | Low float fade |
MSFT | -3.25% | 1.01M | 378.30 | 11.83 | 7.43B | Software pullback |
ORCL | -2.38% | 1.98M | 128.56 | 7.41 | 1.70B | Software pullback |
CRCL | -2.15% | 690,509 | 61.63 | 5.87 | 202.44M | Crypto pullback |
Unusual Options Activity
Options are active into the CPI print and the bank earnings.
Ticker | Context | Options Read |
|---|---|---|
JPM | Reported this morning | Options had priced about a 4 percent earnings move. The bank beat with a strong quarter. |
IBM | Earnings warning | The 23 percent gap far exceeded its typical earnings move, and its options are repricing sharply. |
SPY and QQQ | CPI came in cool | Index options repriced after the soft inflation print took some pressure off rate fears. |
Options flow shows positioning for educational review only. It is not a recommendation to buy or sell. Past flow does not guarantee future direction.
Economic Calendar, Week of July 14, 2026
Today is the busiest day of the week and the main event is already in. June CPI came in cooler than expected, with headline inflation at 3.5 percent year over year, down 0.4 percent for the month, and core at 2.6 percent, flat for the month, both below estimates. Fed Chair Kevin Warsh is testifying before Congress, and the big banks reported this morning. Later in the week, June PPI comes Wednesday, and June retail sales along with TSMC and Netflix earnings land Thursday.
Get Today's Day Trading Game Plan
Free readers get the movers and the reasons they are gapping. Premium members get the key premarket levels, the float and daily ATR read, and the game plan for each of these gappers, delivered at least 30 minutes before the open every trading day. The full level by level breakdown is below.
Premium Membership 10.99 per month | Discord Community 50 per month |
|---|---|
Daily premarket watch lists for tickers I select. Educational only. No entries or exits. You execute your own trades. | Community membership fee for sharing trade ideas and Q and A. No financial decisions should be made based solely on ideas shared. Trade your own decisions. Not a trade alert or advisory service. |
Subscribe to Default to read the rest.
Become a paying subscriber of Default to get access to this post and other subscriber-only content.
Upgrade