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

0945 - S&P services PMI for June: Expected 51; Prior 50.7
0945 - S&P manufacturing PMI for June: Expected 54.5; Prior 55.1
0945 - S&P composite PMI for June: Expected 52.1; Prior 51.5
1000 - Richmond Fed composite index for June: Expected 8; Prior 13
0830 - Fed’s Bowman speaks
0945 - Chicago PMI for January: Expected 40; Prior 36.9

Space Exploration Technologies Corp (SPCX)

+2.60%

The stock posted a 16% decline on Monday after announcing a senior unsecured notes offering, which is intended to raise proceeds towards the repayment of funds borrowed under its bridge loan facility. Separately, SpaceX is set to launch its first Starfall demo mission on Tuesday, sending a reusable uncrewed capsule to orbit on a Falcon 9 rocket and returning it to Earth. The capsule is designed for in-space manufacturing applications across industries like pharmaceuticals and semiconductors.

International Business Machines Corp (IBM)

+4.80%

Trading sharply higher premarket. US President Donald Trump praised the company and CEO Arvind Krishna during the signing of quantum-related executive orders on Monday afternoon. Separately, IBM joined OpenAI’s Daybreak Cyber Partner Program and introduced a new application security service that uses OpenAI models to detect and validate software vulnerabilities. JPMorgan has upgraded the stock to Overweight and raised its price target to $291 from $270, citing increased confidence in stronger software growth in the second half of 2026 driven by Red Hat, OpenShift, automation, and contributions from recent acquisitions.

Big Tech, Semiconductors, and Memory Stocks

-5.60%

Trading sharply lower as a group amid a market-wide pullback. The decline follows large drops in overnight trading across the Chinese, South Korean, and Japanese stock markets. The memory sector, which has rallied sharply throughout 2026 thus far, is on heightened watch ahead of Micron’s earnings report after the bell on June 24, 2026.

GOOGL, AMZN, NVDA, MSFT, MU, SNDK, WDC, STX, AVGO, INTC, SMCI

Qualcomm Inc (QCOM)

-6.07%

Bloomberg reported that the company is in advanced talks to acquire AI chip startup Modular in a deal valued at around $4 billion, according to Bloomberg. While no final agreement has been reached, a deal could be announced in the coming weeks. Modular was last valued at $1.6 billion after raising $250 million in September 2025.

Quantum Stocks

+2.45%

Trading higher as a group after US President Donald Trump signed a pair of executive orders focused on advancing quantum technology. The first of these orders focuses on developing a US quantum computer for major scientific calculations and deploy quantum sensors and networks within five years. The second order directs federal agencies to transition to post-quantum cryptography by 2031 to strengthen cybersecurity against future quantum threats.

QUBT, QBTS, RGTI, IONQ, INFQ

Chinese ADRs

-2.21%

Trading lower as a group following significant declines for Chinese stocks and indices in the overnight session. The Hang Seng Index closed 1.8% lower, nearing bear market territory, while the CSI 300 Index lost 3.36%. This weakness comes amid concerns about the economic outlook in China, though other Asian indices like South Korea’s KOSPI and Japan’s Nikkei 225 also posted sharp declines in the overnight session.

BABA, JD, BILI, BIDU, PDD, LI, NIO, XPEV, FXI, KWEB

Palantir Technologies Inc (PLTR)

-0.70%

The US Army has established the data architecture baseline for its Next Generation Command and Control (NGC2) modernization program, using Palantir's Foundry as the cloud data layer and Anduril's Lattice as the tactical data layer. Palantir highlighted its long-standing involvement in the program and said the common architecture is designed to support scalable AI-enabled capabilities and interoperability across future Army deployments.

Crypto Stocks

-2.55%

Trading lower as a group in tandem with declines in Bitcoin and Ethereum. Bitcoin posted gains on Monday, making intraday highs above $65,500, but has since pulled back and briefly broke below the prior-week low of $62,000 early on Tuesday morning. Ethereum has similarly given up its gains from Monday’s session and is trading around $1,650 as of Tuesday at 7:10 AM, below the prior-week low of $1,670.

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

Oracle Corp (ORCL)

-2.28%

Reuters reported that the company’s workforce fell 13% (about 21,000 employees) in fiscal 2026 as the company continued restructuring its business, partly driven by AI-related operational changes. Oracle also spent $1.84 billion on severance and exit costs during the year, sharply higher than the prior fiscal year. The company reported Q4 and FY 2026 earnings on Wednesday, June 10.

Tesla Inc (TSLA)

-2.42%

Tesla and NatPower reached a deal to deploy 25 GWh of battery storage in Italy and the UK as part of a broader program that could exceed 100 GWh and cost up to $5 billion. The project will use Tesla’s Megapack systems and its energy trading software, with five initial sites forming the first phase of the multiyear rollout.

Pfizer Inc (PFE)

-0.56%

The company said its antibody-drug conjugate sigvotatug vedotin, acquired through the $43 billion Seagen deal, failed to show a significant overall survival benefit versus docetaxel in advanced non-small cell lung cancer. Despite the setback, Pfizer plans to continue development of the drug. This development includes an ongoing late-stage combination study with Merck's Keytruda in first-line lung cancer.

Energy Fuels Inc (UUUU)

-2.21%

Trading lower premarket after announcing the acquisition of rare earth magnet manufacturer VAC in a deal valued at approximately $1.9 billion. The deal is comprised of $718 million in cash, 65.85 million newly issued shares, and the assumption of about $140 million in net debt. The transaction adds VAC's century-old business, extensive patent portfolio, and newly commissioned South Carolina magnet facility. Energy Fuels has lined up significant financing support ahead of the deal's expected completion in early 2027.

Meta Platforms Inc (META)

-0.66%

On watch after Bloomberg reported that the European Commission is preparing to escalate an investigation into the company, alleging that Facebook and Instagram use addictive design features targeting children. Preliminary findings could lead to regulatory curbs similar to those in the UK. Further recommendations are expected from an expert panel next month.

Nokia Corp (NOK)

-5.89%

On watch after introducing new agentic AI capabilities for telecom network automation at DTW Copenhagen. These features include an Autonomous Networks Agent Library, upgrades to its Autonomous Networks Suite, and AI-enabled tools for wireless, IP, fixed, and optical networks. Nokia said these AI agents can boost productivity by 60%-80% across operations and is collaborating with NTT DOCOMO on trials aimed at advancing network autonomy. The stock closed more than 6% higher on Monday after announcing an expanded partnership with Google Cloud.

Primoris Services Corp (PRIM)

-35.52%

Gapping down after cutting its FY26 guidance by roughly 50% following the discovery of cost overruns and project delays across six renewable energy projects. These included fixed-price contracts where expenses exceeded expectations. Most of the impact from these deals is expected in Q2. Primoris also announced the immediate departure of COO Jeremy Kinch; CEO Koti Vadlamudi will assume most of the COO's responsibilities while a search for a replacement is underway.

AMC Entertainment Holdings Inc (AMC)

-23.55%

Gapping down after announcing the pricing of a $200 million registered direct stock offering. The company agreed to sell 95.25 million shares to institutional investors, raising about $200 million in gross proceeds before fees and expenses. AMC plans to use the funds primarily to redeem its $125.5 million of 6.125% senior subordinated notes due 2027, along with other general corporate purposes such as strengthening liquidity and investing in theater upgrades.

Tianci International Inc (CIIT)

+85.30%

Gapping up after its Q3 earnings report. The company posted earnings of $0.01 per share, well above a $0.43-per-share loss posted in the prior-year quarter. Sales similarly rose from $1.948 million to $4.311 million on a year-over-year basis. Tianci has a market capitalization of $3.76 million and a float of 1.27 million shares.