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

0945 - S&P manufacturing PMI for July: Expected 53.8; Prior 53.8
1000 - ISM manufacturing PMI for July: Expected 53.9; Prior 53.3
1000 - Construction spending m/m for June: Expected 0.2%; Prior 0.1%

Palantir Technologies Inc (PLTR)

+2.62%

On watch ahead of its Q2 2026 earnings report, set to be released after the bell on Monday, August 3. Analysts are looking for company to post earnings of $0.35 per share and revenue of $1.81 billion for the quarter.

Bristol-Myers Squibb and AstraZeneca

+0.44%

The Financial Times reported that the companies have held preliminary talks about a potential cash-and-stock merger that would create the world's fourth-largest drugmaker by market value, though discussions are still early and could fall apart. Analysts have cited antitrust concerns over overlapping cancer drugs and Bristol Myers' looming patent expirations as key challenges to a potential deal between the parties. Bristol-Myers is trading sharply higher premarket, while AstraZeneca is poised to open sharply lower.

BMY, AZN

Oil and Energy Stocks

-6.20%

Trading sharply lower as a group after US President Donald Trump said he called off a planned strike on Iran, reducing geopolitical risk premiums and easing concerns over potential supply disruptions. WTI crude and Brent prices both fell sharply as markets weighed the possibility of a deal involving the reopening of the Strait of Hormuz and reduced nuclear tensions.

USO, OXY, XOM, CVX, DVN, COP

GameStop Corp (GME)

-10.77%

Gapping down after announcing an agreement to exchange approximately $1.4 billion of convertible senior notes for shares of Class A common stock, reducing its outstanding long-term debt without receiving any cash proceeds. The transaction, expected to close around September 23, 2026, will eliminate the exchanged notes while leaving GameStop with roughly $2.8 billion in remaining convertible debt.

Alibaba Group Holding Ltd (BABA)

+4.01%

Trading sharply higher premarket after unveiling Qwen3.8-Max, its latest AI model featuring 2.4 trillion parameters and a 1 million-token context window. The model targets coding, research, workplace tasks, and visual intelligence. Alibaba highlighted the model’s performance in comparison to that of leading AI systems.

Space Exploration Technologies Corp (SPCX)

-1.24%

On watch ahead of its first-ever earnings report as a publicly-traded company, set to be released on Tuesday, August 4. The earnings call as a public company is expected to highlight AI investments and Starlink's satellite communications business, with CEO Elon Musk likely to address investors. Questions submitted by retail shareholders ahead of the call focused on Starship development, requesting updates on the Human Landing System, orbital refueling, rocket recovery plans, and the role of SpaceX's new mascot Asteroid.

Amazon.com Inc (AMZN)

+1.57%

Trading higher premarket after closing more than 15% her on Friday. The rally was driven by stronger-than-expected Q2 2026 earnings from Amazon, including 37% year-over-year growth in the closely-watched Amazon Web Services (AWS) business segment. Amazon is poised to open at new all-time highs on Monday morning should its premarket momentum hold.

Tesla Inc (TSLA)

+0.82%

The company’s European vehicle registrations showed mixed results in July, with sales surging 86% in France and 52% in Denmark but plunging 97% in Norway and 60% in Sweden on a year-over-year. Registrations in Spain, meanwhile, declined by 81.3% for July 2026. Tesla’s overall European sales have improved this year after two consecutive annual declines, helped by easier comparisons, EV incentives, higher fuel prices, and stronger demand for electric vehicles.

Circle Internet Group (CRCL)

-5.85%

Gapping down after Morgan Stanley downgraded the stock to Underweight from Equal Weight and slashed its price target to $38 from $106, citing expectations of weaker USDC growth and lower-margin revenue trends. The firm cut its 2027-2028 USDC forecasts by 33%-44%, warned that tokenized money market funds and deposits could pressure reserve income, and said emerging initiatives like agentic payments remain too small to offset those headwinds.

Apple Inc (AAPL)

+0.46%

India proposed extending tax exemptions for foreign companies supplying machinery to contract manufacturers through 2041, a move that benefits Apple as it expands iPhone production in the country. The change addresses Apple's concerns that equipment ownership could create additional tax liabilities on its India operations, providing greater certainty for its manufacturing strategy.

IONQ Inc (IONQ)

+0.58%

The FTC cleared the company’s $1.8 billion acquisition of SkyWater Technology after commissioners disagreed over whether to impose conditions on the deal. FTC Chairman Andrew Ferguson proposed safeguards to ensure rival quantum companies maintain fair access to SkyWater’s services, while Commissioner Mark Meador said the merger would not reduce competition. IONQ is scheduled to report quarterly earnings after the bell on Wednesday, August 5.

Corning Inc (GLW)

+0.90%

On watch after Truist Securities upgraded the stock to Buy from Hold while lowering its price target to $175 from $205, saying the stock's roughly 45% pullback has created an attractive entry point. The firm expects strong long-term earnings growth driven by resilient AI, data center, fiber-optic demand, and Corning's Photonics MAP initiative, forecasting a 30% EPS CAGR from 2026 to 2029.

T1 Energy Inc (TE)

+6.47%

The company agreed to sell a 50% stake in a 1.2 GW renewable energy portfolio across Germany, Spain, France, and Poland to KKR, valuing the assets at €1.8 billion. TotalEnergies will retain the remaining 50% ownership and continue operating the solar and wind assets, with the transaction expected to close in 2026. Additionally, T1 Energy signed a deal to supply Clearway Energy Group with 641 MW of solar modules manufactured at its Dallas facility using domestically produced cells from its Austin factor. The company expects the first 2.1 GW phase of its Austin cell plant to begin production in Q1 2027 and plans to offer solar modules with more than 60% domestic content that year.

AiRWA Inc (YYAI)

+239.50%

Gapping up on no apparent news catalyst. The company has a market capitalization of $440,000 and a float of approximately 910,000 shares.