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

0830 - Fed’s Hammack speaks
1000 - JOLTs job openings for April: Expected 6.865M; Prior 6.866M

Marvell Technology Inc (MRVL)

+25.88%

Gapping up after CEO Matt Murphy delivered a keynote address at Computex alongside Nvidia CEO Jensen Huang. During the speech, Huang called Marvell “the next trillion-dollar company”; the company’s market capitalization as of Monday’s close was around $192 billion. The optimism reflects Marvell’s growing role in AI infrastructure, supported by a $2 billion investment from Nvidia and Marvell’s own expectations that its custom AI chip business will exceed $10 billion in revenue by fiscal 2029.

Hewlett Packard Enterprise Co (HPE)

+25.15%

Gapping up after its Q2 2026 earnings report, with revenue of $10.68 billion and adjusted EPS of $0.79 beating estimates of $9.76 billion and $0.53, respectively. The company projected adjusted earnings between $3.35 and $3.45 per share for FY 2026, above its prior outlook of $2.30-$2.50 and exceeding estimates of $2.42; HPE also projected sales growth between 29% and 33% year-over-year. Hewlett Packard provided stronger-than-expected guidance for sales and EPS for Q3 2026.

Microsoft Corp)

-2.45%

On watch ahead of its Microsoft Build event, which is scheduled to kick off with a keynote at 12:30 PM ET on Tuesday. CEO Satya Nadella’s speech is expected to outline the company’s strategy for competing in both cloud and PC markets, including its evolving relationship with AI partner and competitor OpenAI. Microsoft is set to unveil new AI tools for building applications across PCs and the cloud throughout the two-day event.

Alphabet Inc (GOOGL)

-2.12%

The company announced plans to raise $80 billion through a stock sale, including a $10 billion investment from Berkshire Hathaway, to expand its AI computing infrastructure and meet demand that is currently outpacing available capacity. The move underscores Google's aggressive AI spending strategy, with 2026 capital expenditures projected at $180–$190 billion, Industrywide AI infrastructure investment by major hyperscalers is expected to exceed $700 billion this year and could potentially surpass $1 trillion by 2027.

Crypto Stocks

-2.21%

Trading lower as a group in tandem with Bitcoin, which broke the $70,000 level early on Tuesday morning. The cryptocurrency is trading around $69,500 as of 7:00 AM ET. Ethereum similarly broke below the $2,000 level during Monday’s session and is trading near $1,980 on Tuesday morning. On Monday, Michael Saylor’s Strategy disclosed the sale of 32 bitcoin for roughly $2.5 million, the company’s first sale since 2022.

COIN, MSTR, MARA, RIOT, IBIT, ETHE, HUT, CLSK, IREN, CAN, HIVE

Super Micro Computer Inc (SMCI)

+5.30%

The company announced that it will showcase the AMD Helios rack-scale AI platform at Computex. The platform is a 72-GPU system powered by AMD Instinct MI455X GPUs and EPYC CPUs. The system is designed to support large-scale AI workloads such as LLM training, inference, sovereign AI, and agentic AI applications. AMD and Super Micro’s partnership highlights the latter company’s focus on end-to-end AI infrastructure.

NVIDIA Corp (NVDA)

+1.33%

CEO Jensen Huang Jensen Huang said the company has sufficient supply to support strong growth in both CPUs and GPUs amid the ongoing AI boom, though he acknowledged that broader supply constraints in the industry remain a concern. He also highlighted strong demand for NVIDIA’s Vera data center CPUs, positioning them as potentially even more important than GPUs in AI workloads, where they compete with offerings from Advanced Micro Devices and Intel.

Credo Technology Group Holdings (CRDO)

-1.99%

Gapping down after its Q4 2026 earnings report. Revenue came in at $437 million, beating estimates of $432.5 million and representing 157% year-over-year growth, with adjusted earnings of $1.16 per share beating estimates of $1.00. Adjusted gross margin was reported at 68.3%, beating estimates of 65.4%. The company projected Q1 2027 revenue between $465 million and $475 million, compared to estimates of $464 million.

Oil and Energy Stocks

-1.32%

On watch as a group as traders continue to assess the state of the conflict between the US and Iran. Oil prices spiked on Monday morning following Iranian state media reports suggesting that Iran would no longer exchange messages with the US. These prices pushed back lower in the afternoon, however, after US President Donald Trump indicated that he held “very productive” calls with both Israeli Prime Minister Netanyahu and Hezbollah and that “all shooting will stop”. Trump shared another Truth Social post to the same effect hours later.

USO, OXY, DVN, COP, CVX, XOM

Amazon.com Inc (AMZN)

-1.40%

The company’s hotly-anticipated Prime Day sales event is scheduled to take place from June 23 to June 26. This will be Amazon’s second consecutive Prime Day event to last four days, a decision that Prime VP Jamil Ghani attributed to observed engagement across the entire sales period last year. Ghani also indicated that Amazon will introduce new deals each day of the event to encourage shoppers to browse throughout all four days.

Abivax SA (ABVX)

-30.60%

The company reported positive Phase 3 maintenance trial results for obefazimod in patients with moderately to severely active Ulcerative Colitis, with clinical remission rates at Week 44 of 50.8% (25 mg) and 51.3% (50 mg) versus 10.4% for placebo. Both doses met the primary endpoint and all key secondary endpoints and showed no new safety concerns, though there were some documented cancer cases in patients taking the higher dose. Jefferies downgraded the stock to Hold, citing risk associated with the cancer cases despite the apparent efficacy of the drug overall.

Dollar General Corp (DG)

+4.07%

Trading sharply higher after its Q1 2026 earnings report. Revenue of $10.8 billion narrowly missed estimates of $10.82 billion, though earnings of $2.00 per share beat estimates of $1.90. The company projected earnings between $7.20 and $7.45 per share for FY 2026, compared to estimates of $7.25.

Victoria’s Secret Co (VSXY)

+43.67%

The stock, which previously traded under the ticker “VSCO”, is gapping up on stronger-than-expected Q1 2026 earnings. Revenue grew by 15% year-over-year to $1.56 billion, beating estimates of $1.5 billion, with adjusted earnings of $0.60 per share doubling expectations of $0.30. Adjusted operating income of $80 million outpaced estimates of $32 million-$42 million. The company hiked its FY 2026 revenue outlook from $6.85 billion-$6.95 billion to $7.03billion-$7.13 billion.

Arm Holdings PLC (ARM)

+0.57%

In an interview with Reuters, CEO Rene Haas said that imposing export restrictions on AI-capable CPUs to China would be challenging because CPUs have broad general-purpose uses and are more difficult to classify than AI-focused GPUs. Haas also indicated to Bloomberg that Arm could potentially hit its $15 billion AI chip revenue milestone earlier than expected. Separately, Arm announced that ByteDance and Oracle have adopted its AGI CPU, highlighting growing customer interest in Arm's AI infrastructure offerings.

Microchip Technology Inc (MCHP)

+8.00%

Gapping up after projecting that its Data Center Solutions business will grow about 65% in 2026 to roughly $500 million in revenue, up from $302.7 million in 2025. The unit, which includes storage controllers and PCIe/CXL and Switchtec interconnect products, already showed strong momentum with March-quarter revenue rising 62.9% year over year.

Picard Medical Inc (PMI)

+114.67%

On Monday afternoon, the company announced the ouster of Bernard Skaggs as CFO and the appointment of Georgina Smith as Chief Accounting Officer. The stock has a market capitalization of $15 million and float of approximately 30 million shares.