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

0830 - Current account for Q1: Expected -$210.6B; Prior -$190.7B
1000 - New home sales (units) for May: Expected 235k; Prior 240k

Micron Technology Inc (MU)

+3.71%

Gapping up ahead of its Q3 2026 earnings report, to be released after the bell on Wednesday, June 24 (ETA 4:00 PM ET). Analysts are looking for Micron to post earnings of $20.81 per share and revenue of $34.98 billion. As of Tuesday’s close, Micron has gained 256% so far this year; this makes it the fourth-best year-to-date performer in the S&P 500, behind fellow memory companies Sandisk, Western Digital, and Seagate.

Alphabet Inc (GOOGL)

+0.43%

The company is set to join the Dow Jones Industrial Average as of the opening bell on June 29, 2026. Alphabet will replace Verizon in the index. The S&P Dow Jones Indices described the move as an effort to “broaden and strengthen” the Dow’s exposure to a variety of sectors, including AI and advertising. Separately, Alphabet’s YouTube has settled a lawsuit filed by a minor who alleged the platform harmed his mental health. The case was resolved ahead of a second California trial on social media and youth mental health.

Cerebras Systems Inc (CBRS)

-11.58%

Gapping down after its Q1 2026 earnings report. Revenue grew by 94% year-over-year to $193.4 million, above estimates of $181.4 million. The company projected FY 2026 revenue between $855 million and $865 million, above estimates of $824.8 million. Cerebras also announced a partnership with OpenAI valued at more than $20 billion, as well as a multi-year partnership with AWS. Both of these deals are related to inference, with the OpenAI deal including 750MW of inference compute.

Qualcomm Inc (QCOM)

+1.41%

Trading higher premarket after Reuters reported that the company is in talks to provide chip-design services to ByteDance. This move comes as Qualcomm looks to diversify beyond its core smartphone business. The discussions involve potentially designing custom chips using technology from AlphaWave Semi, which Qualcomm acquired last year, potentially making ByteDance an early customer of its expanded design services. On May 26, 2026, Bloomberg reported that Qualcomm had struck a deal with ByteDance to supply AI chips for data centers.

Apple Inc (AAPL)

+0.15%

The Elec, a Korean media outlet, reported that the company is set to begin mass production of its first foldable iPhone in late July. The report indicated that Apple has finalized key specifications across its display, chassis, and mechanical design and still expects to unveil the phone in September. Foxconn will lead initial production, with Samsung Display supplying foldable OLED panels and partners including Shin Zu Shing and Amphenol providing hinge components. Separately, CAICT data shows that foreign-branded phone shipments in China, including Apple iPhones, fell 19.2% year over year in May to 3.669 million units. In contrast, total smartphone shipments in China rose 16.5% year over year to 27.64 million units.

Space Exploration Technologies Corp (SPCX)

-0.34%

The stock ended its three-day losing streak on Tuesday, closing just under 1% to the upside. On Tuesday morning, the company announced that it raised $25 billion in a previously-announced senior unsecured notes offering. SpaceX was initially aiming to raise $20 billion, with reports indicating that the company received nearly $89 billion in demand for the offering. The raise comes less than two weeks after SpaceX’s blockbuster IPO.

Oil Stocks)

-2.57%

Trading lower as a group premarket. In a Truth Social post shared on Wednesday morning, US President Donald Trump said Iran has agreed not to impose additional fees such as tolls or insurance charges on ships passing through the Strait of Hormuz. Trump warned that negotiations with Iran would end if this proves false. He also said previously frozen Iranian funds would be used to purchase US agricultural goods, including corn, wheat, and soybeans, for shipment to Iran.

USO, OXY, XOM, CVX, COP, DVN

FedEx Corp (FDX)

-6.53%

Gapping down after its Q4 2026 earnings report. The company posted revenue of $25 billion, above the midpoint estimate of $24.025 billion, with adjusted earnings of $6.31 per share similarly beating midpoint estimates of $5.94. The company projected adjusted earnings between $16.90 and $18.10 for calendar year 2026, well below estimates of $19.86 billion, and projected revenue growth of roughly 11% year-over-year. FedEx plans to buy back up to $1 billion throughout calendar year 2026.

Advanced Micro Devices and Arm Holdings

+1.32%

Both semiconductor stocks received positive analyst notes. UBS raised its price target on AMD to $670 from $455 while maintaining a Buy rating. The move was attributed to stronger expected market share gains in standalone CPU servers driven by AMD’s core-count and x86 ecosystem advantages. Arm’s price target was raised by both UBS and TD Cowen, with both analysts making the case for Arm’s improved CPU business outlook.

AMD, ARM

NVIDIA Corp (NVDA)

+0.46%

The Financial Times reported that the company’s restricted AI chips have surged in value on China's black market. DGX B300 servers now sell for more than RMB 8 million (about $1.1 million), as per the report, more than double their price six months ago and well above US retail levels. Prices for RTX 6000 Pro chips and older A100-based servers have also risen sharply, highlighting strong demand and limited supply following US export restrictions.

Warner Bros Discovery Inc (WBD)

+0.82%

Trading marginally higher premarket after the Financial Times reported that EU regulators are prepared to approve Paramount’s $111 billion acquisition of the company. Approval is potentially contingent on remedies such as Paramount exiting its international film distribution joint venture with Universal Pictures. The merger - which would unite assets including HBO, CNN, CBS News, Paramount Pictures and Warner Bros. under one company - has already received US DOJ approval. The European Commission must decide by July 7 whether to clear the deal or launch a more in-depth review.

Meta Platforms Inc (META)

-0.01%

The New York Times reported that the company is being urged by the Trump administration to voluntarily submit its AI models for government review so regulators can assess their capabilities and potential vulnerabilities. The report suggests that Meta is the only major US AI developer that has not agreed to such sharing, as federal oversight of the AI industry intensifies.

Wendy’s Co (WEN)

+31.26%

Gapping up amid heightened interest from retail investors. On Tuesday morning, Wendy’s announced the appointment of Steve Cirulis as Chief Financial Officer and Chief Strategy Officer effective June 23. Former CFO Ken Cook will remain with the company as an advisor through July. Cirulis joins from Potbelly, where he helped drive a turnaround through stronger unit volumes and margin expansion, and previously held leadership roles at Panera, McDonald's and Gap.

GameStop Inc (GME)

+0.62%

On watch after announcing that CEO Ryan Cohen will not receive a potential performance-based award and is expected to provide further details soon on his effort to acquire eBay. The company had previously outlined a roughly $35 billion compensation package tied to a turnaround requiring a more than tenfold increase in GameStop’s market value and a significant boost in profitability.

Nike Inc (NKE)

+0.24%

On watch after appointing former Pfizer CFO David Denton as its next Chief Financial Officer effective August 17, replacing Matthew Friend. The company also said its Q4 FY26 results will include a one-time tariff refund benefit, though excluding that item performance is expected to be broadly in line with prior guidance. BofA reiterated its Neutral rating and $55 price target on the company ahead of its June 30 earnings report, noting that it doesn’t expect Nike to give guidance for FY 2027.

FuelCell Energy (FCEL)

+19.19%

Gapping up after signing a strategic agreement with Fit Energy to provide up to 380 MW of on-site fuel cell power for data centers, starting with an initial 30 MW deployment expected later this year and backed by an immediate deposit. The deal also includes milestone-based warrants for additional capacity and supports FuelCell’s plan to scale operations to 500 MW to meet rising data center power demand. The company has a market capitalization of $1.48 billion and a float of 67.4 million shares, roughly 8% of which are sold short.

Absci Corp (ABSI)

+20.11%

Gapping up after reporting positive interim Phase 1 data for ABS-201, its prolactin receptor antibody for androgenetic alopecia, showing no serious adverse events in 32 healthy volunteers and mostly mild side effects. Pharmacokinetic results indicated a half-life of at least 65 days, supporting a potential regimen of just two to three subcutaneous doses over six months. Approximately 24% of the stock’s float is sold short.