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

0815 - ADP employment change for June: Expected 120k; Prior 122k
0900 - Fed Chair Warsh speaks w/ other central bank governors at ECB Forum
0945 - S&P manufacturing PMI for June: Expected 55.7; Prior 55.7
1000 - ISM manufacturing PMI for June: Expected 53.8; Prior 54
1000 - Construction spending m/m for May: Expected 0.2%; Prior 0.4%

Nike Inc (NKE)

-3.34%

Trading sharply lower premarket after its Q4 2026 earnings report. Revenue declined by 1% year-over-year to $10.972 billion, above estimates of $10.85 billion, with gross margin improving by 890 basis points to 49.2%. Earnings per share were reported at $0.72, which includes a $0.52/share benefit from expected recovery related to the IEEPA tariffs. Wholesale revenue grew by 4% year-over-year, while NIKE Direct revenue declined by 7%. Sales in the closely-watched Greater China region declined by 12% for the quarter.

Bloom Energy Corp (BE)

+8.82%

Gapping up after expanding its AI infrastructure power partnership with Brookfield from $5 billion to $25 billion, a fivefold increase since October 2025. The expansion underscores accelerating demand for Bloom’s distributed power systems to support large-scale AI data center buildouts funded through Brookfield’s infrastructure initiatives. Oppenheimer reiterated its Perform rating on Bloom Energy following the announcement, noting that the partnership expansion should drive more customer interest and help guide future capacity growth.

Space Exploration Technologies Corp (SPCX)

+2.62%

The company announced that it is offering discounted Starlink service in Memphis, cutting monthly prices to $27.50–$65 with no upfront hardware cost, as it responds to local backlash over its xAI/Colossus data center operations and pollution concerns. The move appears aimed at boosting adoption while easing community tensions tied to the company’s infrastructure footprint in the area. Additionally, Wedbush initiated coverage on the stock with an Outperform rating and $190 price target, arguing the company is evolving into a major AI hyperscaler. The firm sees growth driven by Starlink, Starship, and broader AI infrastructure demand.

Microsoft Corp (MSFT)

+1.48%

Business Insider reported that the company is planning another round of layoffs next week that will affect thousands of employees, including roles in sales, consulting, and Xbox. The cuts are expected to impact less than 2.5% of the company's approximately 220,000-person workforce.

Salesforce and ServiceNow

+3.55%

Both of these SaaS companies were upgraded to Buy from Neutral by Guggenheim on Thursday morning. The analyst upgraded Salesforce to Buy from Neutral with a $228 price target, arguing the stock's current valuation is overly pessimistic and offers an attractive entry point despite AI-related concerns. The firm believes Salesforce may see slower growth as agentic AI evolves, but expects the business to remain stable. Guggenheim assigned a $125 price target on ServiceNow, saying its recent selloff has created an attractive valuation for a profitable company that should continue delivering double-digit organic growth.

CRM, NOW

Klarna Group PLC (KLAR)

+6.36%

Gapping up after announcing that PriceRunner, which Klarna acquired in 2022, won a favorable antitrust ruling against Google. The company’s announcement indicated that a court awarded PriceRunner $1.97 billion in damages. The award is significant relative to Klarna’s scale, amounting to roughly 25% of its market cap; for context, Klarna reported relatively small $65 million FY25 operating profit on $3.5 billion in revenue.

Tesla Inc (TSLA)

-0.36%

On watch as estimates for the company’s Q2 2026 deliveries continue to pour in ahead of their expected release on the morning of Thursday, July 2. Tesla is expected to report a ~5% year-over-year increase in Q2 vehicle deliveries, reaching about 402,780 units. This potential growth is expected to be driven largely by stronger demand in Europe amid higher fuel prices. Analysts also point to potential upside from the rollout of Tesla’s Full Self-Driving software, though its availability remains limited to only a few countries. Separately, the company raised the prices of its Model 3 and Model Y vehicles in Korea.

Intuitive Machines and Firefly Aerospace

+4.04%

NASA awarded $590 million in contracts to Astrobotic, Firefly Aerospace, and Intuitive Machines to support additional uncrewed lunar lander missions scheduled for late 2028 under the Artemis program. Firefly received $144.2 million for one mission and Intuitive Machines received $148.3 million for one mission. The deals are part of NASA’s push to expand commercial lunar activity and accelerate US lunar presence amid competition with China.

LUNR, FLY

Oklo Inc (OKLO)

+5.00%

Gapping up after announcing that its Groves Isotope Test Reactor has received U.S. Department of Energy approval for its Documented Safety Analysis, clearing a key regulatory milestone. The project now enters its final pre-startup phase, which includes readiness review, startup approval, fuel loading, and first criticality. Oklo has targeted July 2026 for first criticality.

General Mills Inc (GIS)

+4.17%

Trading sharply higher premarket after its Q4 2026 earnings report. Net sales grew by 1% year-over-year to $4.6 billion, while operating losses came in at $2.1 billion. The company posted net sales of $18.4 billion for FY 2026, representing a 5% year-over-year decline, with operating profit declining by 73%. General Mills expects organic net sales growth between -1.5% and +0.5% year-over-year for FY 2027.

Alphabet Inc (GOOGL)

-0.45%

South Korea’s antitrust regulator accused the company of abusing its dominant position in the Android app marketplace to suppress competition, with findings tied to an estimated 14.16 trillion won in affected revenue. The Korea Fair Trade Commission plans to recommend corrective measures and a financial penalty, alleging Google’s contracts increasingly incentivized developers to prioritize Google Play as their revenues grew.

Xpeng Inc (XPEV)

+2.11%

Trading higher premarket after announcing deliveries for June 2026 and Q2 2026. XPeng delivered 40,126 vehicles in June, bringing total Q2 2026 deliveries to 103,295 units. The company also reported GX model momentum with 6,739 June deliveries and the 10,000th unit produced. Xpeng is preparing to debut the Mona L03 in China on July 2, with presales starting the same day.

Alcoa Corp (AA)

-4.97%

Gapping down after announcing a $4.1 billion deal to acquire certain assets from South32. The transaction would include South32’s bauxite, alumina, and aluminum operations, expanding Alcoa’s footprint across the metals value chain.

707 Cayman Holdings Ltd (JEM)

+127.71%

Gapping up after announcing board approval to explore a new digital supply-chain platform integrating AI, blockchain traceability, and crypto-based payments for its global apparel operations. The initiative is still in the exploratory stage with no capital commitment, and aims to improve transparency, ESG tracking, logistics efficiency, and settlement speed for its international customers.