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

1030 - Dallas Fed manufacturing index for July: Expected -15.5; Prior -15.1

Top Stories

Tesla Inc (TSLA)

+1.19%

Trading higher premarket after Morgan Stanley named the stock its "Top Pick" in the US autos sector, projecting a 40% upside with a $310 target price. The analyst cited Tesla’s effective cost-cutting, strategic resource redirection, and strong positioning in the zero emission vehicle (ZEV) credit market as reasons for the placement. Morgan Stanley also highlighted Tesla's dominance in ZEV credits, effective China risk management, and potential growth from recurring services revenue and energy storage, along with significant opportunities in AI and autonomy applications.

Crypto Stocks

+4.29%

Trading higher as a group alongside tracking gains in Bitcoin, which reached its highest level since June 12 following comments from Republican presidential candidate Donald Trump advocating for U.S. dominance in the sector and friendlier regulations. The cryptocurrency traded around the $69,700 level as of Monday morning, with Ethereum similarly gaining 4% to trade just below $3,400. Additionally, both Marathon Digital and Coinbase are scheduled to report earnings after the bell on Thursday, August 1.

MARA, COIN, CLSK, HUT, RIOT, MSTR, BITO, IBIT

Microsoft, Meta, Apple, and Amazon

+0.68%

All four megacap tech companies are scheduled to report earnings throughout the week. Analysts are expecting Microsoft, which reports on Tuesday after the bell, to post revenue of $64.19 billion and earnings of $2.90 per share. Meta is expected to post $38.19 billion in revenue and earnings of $4.69 per share when it reports after the close on Wednesday. Apple and Amazon both report on Thursday after the close; analysts are looking for $83.79 billion in revenue and earnings of $1.34 per share from Apple, while Amazon is estimated to post $148.54 billion in revenue and earnings of $1.03 per share. Separately, Bloomberg reported that Apple’s new AI features, “Apple Intelligence”, are being prepared for rollouts through software updates by October 2024.

MSFT, META, AAPL, AMZN

Alibaba Group Holding Ltd (BABA)

+2.72%

Continuing to trade higher after traders circulated a positive note from Jefferies on Friday. The analyst maintained a Buy rating on Alibaba, citing positive impacts from new merchant adjustments, including user experience scores and a 0.6% software service fee on completed transactions. Alibaba’s Hong Kong-listed shares rose 5.7% during Monday’s session, marking their largest one-day gain since May 17 and leading gains in the Hang Seng Index, Hang Seng China Enterprises Index, and Hang Seng Tech Index.

Palantir Technologies Inc (PLTR)

+1.66%

Trading higher premarket after announcing a multi-year partnership with Tree Energy Solutions (TES) to boost global decarbonization efforts, leveraging Palantir Foundry and Palantir AIP. This AI collaboration will aid TES in supply chain management, investment optimization, site selection, asset management, carbon emissions tracking, and modeling the energy transformation pipeline .Additionally, Jefferies raised its price target for the stock from $24 to $28. The company is scheduled to report earnings after the bell on Monday, August 5,.

Abbott Laboratories (ABT)

-5.57%

Gapping down after the company was ordered to pay $495 million in damages for its formula causing a bowel disease in a premature infant. The company plans to appeal the decision. J.P. Morgan analysts noted the verdict exceeded investor expectations of $60 million to $100 million in damages, adding that this charge may impact investor sentiment until a resolution is clearer.

Longeveron Inc (LGVN)

+15.99%

Trading sharply higher premarket after announcing that the CLEAR MIND Phase 2a clinical trial of Lomecel-B in mild Alzheimer's disease met key objectives, supporting a favorable benefit/risk profile. Approximately 22.9% of the stock’s 12.44 million share float is sold short,.

Planet Image International Ltd (YIBO)

+55.40%

Gapping up on no apparent catalyst. The stock, which is receiving social media attention, made its debut on the Nasdaq on January 29, 2024 via an initial public offering.

Beamr Imaging Ltd (BMR)

+20.82%

Trading sharply higher premarket after announcing a collaboration with Oracle Cloud Infrastructure to demonstrate optimized production of high-quality, high-resolution videos from 3D design. This demonstration will take place at SIGGRAPH 2024, a leading conference on computer graphics and interactive technology, in Denver, Colorado from Monday, July 28 to Thursday, August 1.