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

0830 - PCE m/m for April: Expected 0.5%; Prior 0.4%
0830 - PCE y/y for April: Expected 4.1%; Prior 3.8%
0830 - Core PCE m/m for April: Expected 0.3%; Prior 0.2%
0830 - Core PCE y/y for April: Expected 3.4%; Prior 3.3%
0830 - GDP growth rate q/q for Q1 (final): Expected 1.6%; Prior 1.6%
0830 - Durable goods m/m for May: Expected -5%; Prior 8%
0830 - Personal spending m/m for May: Expected 0.6%; Prior 0.5%

Micron Technology Inc (MU)

+18.14%

Gapping up after its Q3 2026 earnings report, with revenue of $41.46 billion and adjusted earnings of $25.11 per share sharply beating estimates of $35.5 billion and $20.40, respectively. Adjusted gross margin was reported at 84.9%, above estimates of 81.8%. Micron beat revenue estimates across its Cloud Memory, Core Data Center, Mobile & Client, and Automotive & Embedded segments. The company projected revenue and EPS well above expectations for Q4 2026.

Qualcomm Inc (QCOM)

+11.25%

Gapping up after its 2026 Investor Day event on Wednesday afternoon. The company raised its long-term outlook, projecting $40 billion in non-handset revenue and over $15 billion in data center sales by fiscal 2029. Qualcomm also unveiled its Dragonfly C1000 data center CPU, designed for agentic AI with energy-efficient performance, and announced partnerships with Meta and Microsoft.

Alphabet Inc (GOOGL)

-1.21%

Continuing to trade lower premarket following a pair of AI-related catalysts on Wednesday afternoon. Bloomberg reported that Gemini employees Jonas Adler and Alexander Pritzel are leaving the company to work at Anthropic. This news comes a week after Google AI leaders Noam Shazeer and John Jumper left the company to work at OpenAI and Anthropic, respectively. Business Insider later reported that Alphabet has delayed the launch of its Gemini 3.5 Pro model to July from an earlier June target. The company is reportedly using the additional time to refine the model based on feedback from early testers.

International Business Machines Corp (IBM)

+3.71%

Trading sharply higher premarket after unveiling what it says is the first sub-1nm semiconductor technology, featuring a 0.7nm “nanostack” 3D transistor architecture capable of packing 100 billion transistors onto a fingernail-sized chip. The company believes the technology could reach production within about five years and deliver up to 50% higher performance or 70% better energy efficiency compared with current 2nm chips.

Alibaba Group Holding Ltd (BABA)

-2.83%

The company’s US-listed shares dropped sharply on Wednesday afternoon after Reuters reported that Anthropic has accused Alibaba Group of running a large-scale “distillation” campaign to extract capabilities from its Claude model. This campaign allegedly involved tens of millions of automated interactions through fake accounts between April and June 2026, according to a letter Anthropic has reportedly sent to the Senate Banking Committee. Anthropic claims the effort represents the largest known attempt to replicate its AI systems, warning it reflects a broader pattern of IP extraction attempts targeting leading US AI labs.

Crypto Stocks

+2.02%

Trading higher as a group as Bitcoin attempts to bounce off the $59,000 level for the second time in less than a month. The cryptocurrency dropped as low as $59,018 (as per TradingView data) during Wednesday’s intraday session before rebounding to close just below $61,000. Bitcoin continues to trade around the $61,000 level as of 7:10 AM ET on Thursday.

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

Tesla Inc (TSLA)

+0.14%

Barclays maintained an Equalweight rating and $360 price target on the stock, noting that investor attention has shifted away from near-term automotive fundamentals toward long-term narratives like Robotaxi, Optimus, and AI. While Barclays expects Q2 deliveries of about 418,000 units, above consensus estimates, it argues the stock is now primarily driven by future technology expectations.

Space Exploration Technologies Corp (SPCX)

+3.99%

Trading sharply higher premarket. The Financial Times reported that Ludovic Subran, CIO of insurance group Allianz, opined that SpaceX’s move to issue $25 billion in bonds shortly after a major equity raise is a sign markets are drifting into “bubble territory”. Subran argued that while investor demand remains strong, bond investors will be less tolerant of heavy losses than equity holders. The comments rising scrutiny of highly leveraged growth stories in a market environment that is increasingly being viewed as overheated.

Intel Corp (INTC)

+4.88%

Trading sharply higher premarket following Micron’s earnings report, which could be assuaging investors’ fears about the AI and chip sectors. On Wednesday afternoon, The Information reported that Intel partner SambaNova Systems is in talks to raise $800 million to $1 billion in new funding at an approximately $10 billion valuation; this would represent about a fivefold increase from its valuation in February. Intel reportedly owns a 9% stake in SambaNova and could see a significant increase in the value of its investment if the financing is completed at the proposed terms.

CoreWeave (CRWV)

+4.08%

Trading sharply higher premarket after Rosenblatt Securities initiated coverage on the stock with a Buy rating and a $250 price target. The firm called CoreWeave a leading “operating system for AI” with massive scale in power capacity, strong revenue growth, and a rapidly expanding backlog. Rosenblatt argued that the company’s pricing power, leverage structure, and compute efficiency improvements support long-term free cash flow growth that could justify more than a doubling in valuation from current levels.

Oil and Energy Stocks

-0.65%

The IRGC warned that any new shipping routes through the Strait of Hormuz established without coordination with Iran are “unacceptable and dangerous,” threatening action against vessels that do not follow Iranian-designated corridors. The statement reinforces Tehran’s demand for control over transit through the strategic waterway, requiring shipowners to coordinate with Iranian authorities and adhere strictly to approved navigation routes despite recent US-Iran efforts to reopen the passage. US Secretary of State Marco Rubio spoke about the Strait of Hormuz on Thursday morning, opining that a tolling system in the Strait “isn’t even workable”.

USO, OXY, XOM, CVX, COP, DVN

Amazon.com Inc (AMZN)

-0.45%

The company announced an additional $13 billion investment in India for AI and cloud infrastructure through 2030, bringing its total planned investment in the country to $48 billion between 2026 and 2030. The new funding will expand AWS data center capacity in Mumbai and Hyderabad, enhancing access to AI chips, cloud services, and developer tools for startups, enterprises, and government organizations.

Microsoft Corp (MSFT)

-0.33%

Microsoft and Amazon Web Services are being recommended by EU antitrust regulators for designation as “gatekeepers” under the Digital Markets Act due to their dominant positions in cloud computing. The European Commission’s preliminary findings, following a seven-month investigation, suggest that Microsoft Azure and AWS should face stricter rules aimed at ensuring fair competition in the cloud services market.

Affirm Holdings Inc (AFRM)

-2.00%

Trading lower premarket after Morgan Stanley downgraded the stock to Equal Weight from Overweight and removed it as a Top Pick, while maintaining a $79 price target. The move was attributed to the stock’s strong rally and the analyst’s belief that its current valuation already reflects the company’s growth durability, funding strength, credit performance, and stable economics. The firm remains positive on Affirm’s long-term prospects, noting continued BNPL market share gains, strong execution in funding and credit, and confidence that profitability can remain resilient.

BlackBerry (BB)

+8.58%

Gapping up after its Q1 2027 earnings report, with revenue of $152.9 million and earnings of $0.04 per share beating estimates of $138.188 million and $0.03, respectively. Revenue grew by 26% year-over-year, while adjusted EBITDA improved by 144%. The company recorded its first positive Q1 cash flow balance in nine years. BlackBerry projected Q2 revenue between $137 million and $148 million and guided FY 2027 revenue between $594 million and $621 million.

Wendy’s Co (WEN)

+13.23%

Continuing to rally on renewed enthusiasm from retail investors and social media accounts. On Tuesday morning, the company announced the appointment of Steve Cirulis as its new CFO and CSO. Wendy’s has a market capitalization of $1.5 billion and a float of 169.4 million shares, roughly 29.7% of which are sold short.