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

0830 - Nonfarm payrolls for May: Expected 85k; Prior 115k
0830 - Unemployment rate for May: Expected 4.3%; Prior 4.3%
0830 - Average hourly earnings y/y for May: Expected 3.4%; Prior 3.6%
1500 - Consumer credit change for May: Expected 0.2%; Prior 0.7%

Lululemon Athletica Inc (LULU)

-12.34%

Gapping down after its Q1 2026 earnings report, with revenue of $2.5 billion and earnings of $1.69 per share falling in-line with analyst estimates. Comparable sales grew by 1%, Americas revenue declined by 3%, and gross margin dropped by 410 basis points to 54.2%. The company cut its FY 2026 revenue outlook from $11.35 billion-$11.5 billion to $11 billion-$11.5 billion and reduced its EPS outlook from $12.10-$12.30 to $10.95-$11.15. Lululemon also projected Q2 earnings well below estimates.

Crypto Stocks

-1.55%

Trading lower as a group as Bitcoin continues to decline. The cryptocurrency is poised to post its sixth straight losing session and is down 15% on the week as of Friday morning. Wednesday, June 3 marked the 13th consecutive day of bitcoin ETF outflows; this is the longest net outflow streak in their two-year history. Bitcoin is trading near $62,500 as of Friday at 6:55 AM ET.

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

Tesla Inc (TSLA)

-0.05%

On watch after JPMorgan upgraded the company’s stock to Neutral from Underweight and raised its price target to $475 from $145. The upgrade was attributed to Tesla’s leadership in physical AI and its unique advantage from deep vertical integration across hardware, software, manufacturing, robotics, and autonomous driving. The firm believes Tesla’s investments in Optimus humanoid robots and robotaxis could create powerful network effects that lower costs, expand adoption, and open massive new markets.

NVIDA Corp (NVDA)

-1.29%

US Senator Elizabeth Warren has invited Nvidia CEO Jensen Huang has been invited to testify before the Senate Banking Committee on June 11, as reported by CNBC. Warren is seeking answers on Nvidia’s China business, export controls, and the company’s central role in the AI industry amid growing national security concerns over advanced chip sales to China. The hearing comes as US lawmakers intensify scrutiny of AI competition with China, with Nvidia arguing that strict export restrictions could hurt US competitiveness. Separately, Huang has arrived in South Korea for his second visit to the country over the last seven months.

Quantinuum Inc (QNT)

-1.52%

The stock is poised to open lower for its second-ever session as a publicly-traded company. Quantinuum debuted on the Nasdaq via IPO on Thursday, opening at $68 - above the IPO price of $60 - and briefly spiking higher before pulling back sharply to clos below $60. As of Thursday’s close, the company has a market capitalization of $15.7 billion.

Space Stocks

+0.77%

The space sector remains on watch ahead of SpaceX’s hotly-anticipated IPO, set to begin trading on June 12. Analysts at Goldman Sachs and Evercore project that SpaceX could generate hundreds of billions of dollars in AI-related revenue by 2030, with estimates ranging from roughly $322 billion to $331 billion in 2030 and as high as $755 billion by 2031. These forecasts assume SpaceX evolves into a major AI infrastructure and computing provider. Its Starlink business is expected to scale to more than $140 billion in revenue by 2030, dwarfing the company's projected rocket-launch revenue of about $8 billion.

NASA, LUNR, RKLB, SIDU, ASTS

Micron Technology Inc (MU)

-2.79%

Bloomberg reported that Nvidia CEO Jensen Huang said Micron, Samsung, and SK Hynix have all qualified to supply HBM4 memory for Nvidia’s upcoming Vera Rubin AI platform. Huang reportedly noted that all three memory makers are already in production and are competing to support the next-generation AI system, highlighting strong industry demand and a diversified supply chain for Nvidia’s future AI products.

Chipotle Mexican Grill (CMG)

+1.63%

Trading higher premarket after JPMorgan upgraded the stock from Neutral to Overweight, saying the stock now offers improved risk-reward after a sharp 43% decline since May 2025. The stock’s price target has been cut from $38 to $35. JPMorgan said Chipotle’s management acknowledged past missteps while emphasizing future growth opportunities, and it argued that current valuation already reflects slower growth expectations and weaker consumer sentiment. The analyst specifically noted that levels near or below $30 could be more attractive for investors.

Marvell Technology Inc (MRVL)

-3.12%

Despite its premarket pullback, the stock is poised to gain more than 50% on the week. Marvell’s rally has been largely attributed to CEO Matt Murphy’s keynote speech at Computex 2026, during which Nvidia CEO Jensen Huang described Marvell as “the next trillion-dollar company”. The company had a market capitalization of roughly $200 billion when the comments were made after Monday’s close; as of Friday morning, Marvell’s market capitalization stands at approximately $276 billion.

Oil and Energy Stocks

-0.22%

On watch as traders continue to assess developments related to the US-Iran conflict, with attention turning to enriched uranium in recent hours. On Thursday afternoon, US President Donald Trump indicated that the US did not need a deal with Iran in order to “get” their enriched uranium, adding that the US has “powerful cameras” watching the uranium and does not intend to seize it. Early on Friday morning, Al Arabiya reported that Iran notified Pakistan that it has agreed to transfer some of its uranium to another country.

USO, OXY, XOM, CVX, DVN

Planet Labs PBC (PL)

-4.12%

The company posted Q1 2027 revenue of $94.2 million, representing 42% annual growth and outpacing estimates of $90 million; adjusted losses of $0.03 per share narrowly outperformed the estimated loss of $0.04. Remaining performance obligations grew by 81% year-over-year to $816 million, with backlog expanding by 72% to exceed $906 million. Planet Labs projected FY 2027 revenue between $425 million and $441 million, compared to estimates of $427.9 million, and its Q2 2027 revenue outlook of $102 million-$107 million beat estimates of $100.9 million.

Samsara Inc (IOT)

-3.46%

On watch after its Q1 2027 earnings report, with revenue of $478.8 million and adjusted EPS of $0.17 beating estimates of $455.2 million and $0.13, respectively. Annual recurring revenue reached $1.991 billion at the end of the quarter, representing 30% year-over-year growth. The company expects revenue to grow by roughly 24% annually for both Q2 and FY 2027, beating analysts estimates, though its adjusted EPS outlook for Q2 2027 was tepid.

DocuSign Inc (DOCU)

-4.79%

Trading lower premarket after its Q1 2027 earnings report. Revenue came in at $830.2 million, beating estimates of $823.23 million and representing 9% year-over-year growth; adjusted earnings of $1.09 per share similarly beat estimates of $1.00. The company projected FY 2027 revenue between $3.49 billion and $3.502 billion, compared to estimates of $3.49 billion. DocuSign’s Q2 2027 revenue outlook came in at $865 million-$869 million, compared to estimates of $866 million.

Rubrik Inc (RBRK)

-0.65%

The company posted a surprise profit of $0.16 per share for Q1 2027, significantly outperforming estimates of a $0.53-per-share loss, with total revenue growing by 39% to $387.1 million.. Subscription revenue grew by 41% year-over-year to $374.2 million. Rubrik projected better-than-expected adjusted EPS and revenue for both Q2 and FY 2027.

Solidion Technology Inc (STI)

+101.98%

Gapping up for its second consecutive session. The stock closed 350% higher on Thursday after announcing patented battery technology that could be used to power “low earth orbit-based” AI data centers. On Friday morning, the company provided further information on its patent-protected anode protection platform and how it addresses the shortcomings of lithium metal batteries.

SmartKem Inc (SMTK)

+77.66%

Trading sharply higher premarket. The stock has a market capitalization of $6.86 million and a float of 17.4 million shares.