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

0830 - Initial jobless claims: Expected 217.5k; Prior 215k
0900 - Fed’s Williams speaks
1000 - Existing home sales for June: Expected 4.2M; Prior 4.17M
1000 - Existing home sales m/m for June: Expected 1%; Prior 3.2%
1330 - Fed’s Logan speaks

Memory Stocks

+2.21%

Trading higher as a group as traders await the US listing of South Korean memory giant SK Hynix. The company’s US-listed stock, set to trade under the ticker SKHY, is slated to begin trading on Friday, July 10. As of Wednesday evening, SK Hynix’s US listed is reportedly more than seven times oversubscribed. Pricing of the listing is expected to take place on Thursday.

MU, SNDK, WDC, STX

Space Exploration Technologies Corp (SPCX)

+0.74%

The company launched Grok 4.5, its latest AI model designed for coding and agentic tasks, on Wednesday. SpaceX described the model as the company’s most advanced offering to date. The model was trained on tens of thousands of Nvidia GB300 GPUs and is available through Grok Build in Cursor, as well as via the company’s developer console API. SpaceX’s stock made new all-time lows on Wednesday, though it bounced back in the final minutes of the session.

Cerebras Systems Inc (CBRS)

+5.93%

Gapping up after announcing plans to deploy 200MW of AI compute capacity across France, Norway, and Finland by the end of 2027. The company’s first European capacity is expected to come online by the end of 2026. The expansion will support growing AI demand, including providing compute infrastructure for some OpenAI workloads.

PepsiCo Inc (PEP)

-0.74%

On watch after its Q2 2026 earnings report. Revenue of $24.181 billion beat estimates of $23.96 billion, representing 6.4% year-over-year growth, with adjusted earnings of $2.20 per share narrowly beating estimates of $2.19. Operating profit of $4.02 billion just missed estimates of $4.06 billion, and Foods North America revenue similarly missed estimates; EMEA revenue of $4.98 billion, however, outpaced estimates of $4.89 billion. The company continues to see organic revenue growth between 2% and 4% for FY 2026.

Oil and Energy Stocks

-0.24%

On watch as tensions between the US and Iran continue to heat back up. On Wednesday, the US Central Command said it launched new strikes on Iran in response to Tehran's attacks on commercial shipping in and around the Strait of Hormuz. President Donald Trump said earlier that day that he was no longer interested in negotiating with Iran and declared the ceasefire "over" following the latest wave of attacks in the Middle East. On Wednesday evening, Trump told reporters that he wasn’t sure if the US and Iran would be reentering a full-blown military conflict.

OXY, XOM, CVX, DVN, COP, USO

Meta Platforms Inc (META)

+0.15%

On watch after BofA added the stock to its US 1 List, which is comprised of the firm’s top ideas from its list of Buy-rated stocks listed in the US. The Financial Times reported that the company is developing "super sensing" smart glasses that could continuously capture audio and periodic photos, allowing users to ask Meta AI questions based on what the glasses have observed. Reuters separately reported on the company’s plans to start manufacturing on its Iris AI chip in September 2026 and double its computing capacity in 2027. On Wednesday afternoon, Meta announced plans to invest about $10 billion to build its first Canadian data center, a 1-gigawatt facility in Sturgeon County, Alberta, powered primarily by natural gas.

Salesforce Inc (CRM)

-4.03%

Trading sharply lower premarket following a downgrade from KeyBanc. The analyst lowered its rating on Salesforce to Sector Weight from Overweight, citing growing concerns that Agentforce adoption and AI-driven growth are taking longer than expected to materialize. KeyBanc said customers' data readiness and Agentforce's product maturity remain key obstacles, while CIO surveys and partner feedback point to weaker IT spending priorities and limited evidence of accelerating demand.

Super Micro Computer Inc (SMCI)

+2.06%

Trading higher premarket. The stock closed more than 7% higher on Wednesday following the company’s launch of Kubernetes Edge AI appliances in collaboration with Red Hat and Everpure, combining Supermicro hardware with Red Hat OpenShift and Portworx AI data management software. The turnkey solution is designed to simplify deployment, scaling, and management of AI inferencing workloads across distributed edge environments. Just over 17% of the stock’s float is sold short.

Ionis Pharmaceuticals Inc (IONS)

-19.49%

Gapping down after sharing data from its Phase 3 CARDIO-TTRansform trial of Wainua (eplontersen) in ATTR-CM, alongside AstraZeneca. The companies’ treatment missed its primary endpoint, failing to significantly reduce cardiovascular mortality and recurrent cardiovascular events versus placebo. While a monotherapy subgroup showed a nominally significant benefit, the drug demonstrated no treatment effect in patients already receiving TTR stabilizers, who made up the majority of the study population. AstraZeneca (AZN) was trading 9% lower as of 7:25 AM ET on Thursday; Alnylam (ALNY), which has an FDA-approved treatment for ATTR-CM, gapped up.

Levi Strauss & Co (LEVI)

-3.94%

Trading sharply lower after its Q2 2026 earnings report. Net revenue grew by 8% year-over-year to $1.562 billion, narrowly beating estimates of $1.52 billion. Adjusted EPS came in at $0.28, beating expectations of $0.24. The company’s gross margin and adjusted EBIT margin grew by 10 basis points and 70 basis points, respectively, on a year-over-year basis. Levi’s projected adjusted EPS between $1.46 and $1.52 for FY 2026, compared to estimates of $1.51.

Aehr Test Systems (AEHR)

+11.96%

Gapping up after receiving a follow-on production order from its lead silicon photonics customer for a fully automated FOX-XP wafer-level burn-in system. The system can test up to nine 300mm wafers simultaneously and is designed to support optical I/O technologies powering AI and cloud data centers.

Fuelcell Energy Inc (FCEL)

+11.80%

Gapping up after signing a memorandum of understanding with Siemens to develop fuel cell-based distributed power systems for large-scale commercial projects. Siemens will provide electrical balance-of-plant solutions integrating fuel cells, battery storage, and microgrid controls for projects exceeding 100MW.

Rackspace Technology Inc (RXT)

+3.95%

On watch after signing a partnership with Palantir to deploy Palantir Foundry and AIP for regulated, sovereign, and mid-market customers. Rackspace will become a preferred operator with around 400 certifications, with early deployments showing a 94% reduction in quote cycle time. The company plans to use AIP across more than 70% of its back-office operations.

Republic Power Group Ltd (RPGL)

+33.15%

The Singapore-based IT company is gapping up after announcing that it has resolved an issue related to its compliance with Nasdaq listing rules. The stock has a market capitalization of $1.93 million and a float of 1.06 million shares.