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

0830 - Trade balance for May: Expected -$78.45B; Prior -$55.9B

Chip and Memory Companies

-3.32%

Trading sharply lower as a group, mirroring volatility in Asian tech stocks during the overnight session. South Korea’s Kospi index dropped by nearly 5%, led by an almost 7% decline in Samsung Electronics following the company’s preliminary Q2 2026 earnings release. Samsung’s preliminary Q2 operating profit suggests year-over-year growth of more than 1800%, with sales more than doubling on a year-over-year basis. Some analysts attributed the pullback to the company’s labor concerns and sector-wide memory price concerns, along with market-wide fears about infrastructure spending.

MRVL, MU, AVGO, SNDK, WDC, STX, NVDA, AMD, KLAC, ASML, INTC

Space Exploration Technologies Corp (SPCX)

-1.04%

The company will begin trading as part of the Nasdaq-100 Index as of the opening bell on Tuesday, July 7. The addition could trigger billions of dollars in passive fund buying. Investors are increasingly viewing SpaceX as a potential AI infrastructure powerhouse, with future cash flows from rockets and satellites helping fund AI ambitions such as Grok. Separately, SpaceX’s xAI officially rebranded to SpaceXAI as of Monday afternoon.

Meta Platforms Inc (META)

+1.03%

The company said four states are seeking $1.4 trillion in penalties in a lawsuit alleging Facebook and Instagram were designed to addict young users and misled the public about platform safety. The figure, disclosed in a court filing ahead of an August trial, is nearly equal to Meta’s market capitalization and stems from claims brought by California, Colorado, Kentucky, and New Jersey.

Rivian Automotive Inc (RIVN)

-8.59%

Gapping down after releasing preliminary Q2 2026 results. Quarterly revenue is expected to come in between $1.55 billion and $1.65 billion, above the $1.3 billion reported for the prior-year quarter. This anticipated revenue growth was attributed to delivery increases, strength in software and services, and regulatory credits. The company also announced that it is offering 75 million shares, including a 11.25 million underwriter option.

Oil Stocks

+0.91%

Trading marginally higher as a group in tandem with a slight uptick in oil prices. Axios reported on Iranian attacks on commercial ships in the Strait of Hormuz, raising concerns over renewed Middle East tensions and the security of a key global oil transit route.

USO, OXY, XOM, DVN, CVX

Alphabet Inc (GOOGL)

+0.58%

On watch after investing in German fusion startup Proxima Fusion. The investment, made alongside XTX Markets, is part of a €400 million funding round that valued Proxima at €2.4 billion. This marks Google’s first investment in a European fusion company. Proxima plans to build a €2 billion fusion demonstration facility in Germany by the early 2030s and eventually supply power to the grid, as growing AI data center demand drives interest in new energy sources.

Palantir Technologies Inc (PLTR)

+1.87%

The company announced that Mexico’s largest insurer, GNP Seguros, signed an enterprise expansion agreement to deploy Foundry and AIP across its health, life, auto, and property insurance operations. The partnership will use Palantir’s platforms for applications including claims fraud detection, risk monitoring, and underwriting optimization.

Shopify and Figma

+3.32%

BofA assumed coverage on both stocks with a Buy rating. The analyst assigned a $150 price target to Shopify, saying the company is well positioned to benefit from the rise of AI-driven, agentic commerce rather than be disrupted by it. The firm believes Shopify’s checkout and payments infrastructure will become increasingly important for AI-powered transactions and views the stock’s 25% year-to-date decline as an attractive buying opportunity. Meanwhile, Figma received a $30 price target from BofA, with the analyst arguing that generative AI is more likely to boost the company's growth than disrupt its business despite the stock's sharp decline.

SHOP, FIG

Fiserv Inc (FISV)

+5.60%

Gapping up after the Wall Street Journal reported that JPMorgan, Bank of America, Wells Fargo, and PNC have explored acquiring Fiserv’s STAR and Accel debit-card networks. The move comes as banks look to gain more control over payment infrastructure and debit fee economics. Discussions are still preliminary, with potential regulatory and political backlash creating concerns among some banks about pursuing a deal.

Walmart Inc (WMT)

+0.78%

On watch after announcing price rollbacks on summer barbecue staples including ground beef, soda, and chips. The company’s press release outlining the price cuts was released twenty-five minutes after US President Donald Trump said the retailer was lowering prices at his administration’s request. Julie Barber, EVP and Chief Merchant of Walmart US, attributed the company’s rollbacks to its commitment to delivering value to customers; this statement was part of Walmart’s aforementioned press release announcing the rollbacks.

Synopsys Inc (SNPS)

+0.81%

On watch after Reuters reported that the company is exiting its chip fabrication manufacturing control software business. The change comes as Synopsys looks to refocus on AI-driven chip design, according to Reuters. The company has reportedly informed Samsung and SK hynix of the software's end-of-life plans and has laid off a few dozen employees as part of the shift.

Crinetics Pharmaceuticals Inc (CRNX)

+99.02%

Gapping up after Vertex Pharmaceuticals announced that it will buy Crinetics Pharmaceuticals for a total equity value of about $10 billion. Vertex's offer of $85 per Crinetics share represents a 102% premium to the stock's Monday close. A dominant player in cystic fibrosis (CF) drugs, Vertex has been eyeing other avenues for diversification. Crinetics' acquisition will give it access to treatments that could together generate more than $5 billion in peak annual sales, the companies said. 

Plug Power Inc (PLUG)

+1.91%

Trading marginally higher premarket after securing a 50MW electrolyzer order for Orica’s Hunter Valley Hydrogen Hub in Australia, expanding its role in renewable hydrogen production. The project is expected to generate about 4,700 tonnes of renewable hydrogen annually and reduce Orica’s natural gas consumption at the site by roughly 7.5%.

Pop Culture Group Co Ltd (CPOP)

+49.62%

Gapping up on no apparent news catalyst. The stock, which has rallied in the past, has a market capitalization of $9.73 million and a float of 27.05 million shares; approximately 8.5% of the stock’s float is sold short.