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

0830 - CPI m/m for April: Expected 0.6%; Prior 0.9%
0830 - CPI y/y for April: Expected 3.7%; Prior 3.3%
0830 - Core CPI m/m for April: Expected 0.3%; Prior 0.2%
0830 - Core CPI y/y for April: Expected 2.7%; Prior 2.6%
1300 - Fed’s Goolsbee speaks

Hims & Hers Health Inc (HIMS)

-15.43%

Gapping down after its Q1 2026 earnings report. Revenue grew by 4% year-over-year to $608.1 million, below estimates of $616.9 million, while net losses were reported at $92.1 million. The company’s subscriber count grew to nearly 2.6 million, up 9% year-over-year, though monthly revenue per average subscriber declined by 6% to $80. Hims & Hers projected revenue between $2.8 billion and $3 billion for FY 2026, compared to estimates of $2.72 billion; its adjusted EBITDA outlook for the year came in at $275 million-$350 million versus estimates of $322.8 million.

GameStop Corp (GME)

-4.32%

Trading sharply lower premarket after eBay’s board of directors rejected GameStop’s proposal to buy out the company, deeming the offer “neither credible nor attractive”. eBay attributed its decision to confidence in its standalone growth prospects, concerns about GameStop’s financing and governance, and the potential operational, leverage, and valuation risks of combining the two companies.

Tesla Inc (TSLA)

-1.35%

Pulling back marginally premarket after closing nearly 4% higher on Monday. The rally accelerated as several outlets reported that CEO Elon Musk is set to join US President Trump on his trip to China this week. Separately, a Reuters article indicated that reporters who tested Tesla’s expanded robotaxi service experienced long wait times, limited vehicle availability, inefficient routing, and drop-offs far from passengers’ destinations.

GitLab Inc (GTLB)

-11.92%

Gapping down after announcing a restructuring plan, which will include workforce reduction and is set to be finalized by June 1. A memo from CEO Bill Staples announcing the changes noted that the restructuring is related to the “agentic era”. Raymond James downgraded the stock to Market Perform following the announcement, citing concerns that the restructuring and workforce reductions could disrupt operations and increase execution risk. While GitLab reaffirmed its FY27 guidance, Raymond James warned that these major internal changes may create organizational turmoil and weigh on business performance through the second half of the fiscal year.

Rigetti and Quantum Computing Inc

+5.33%

Both quantum companies reported earnings for Q1 2026. Rigetti reported quarterly revenue of $4.4 million, with operating losses coming in at $26 million for the quarter. Management emphasized the company’s continued work to bring its 108-qubit system onto several clouds. Quantum Computing, meanwhile, is gapping up after growing its Q1 2026 revenue from $39,000 to $3.7 million on a year-over-year basis. The company also highlighted the completion of two strategic acquisitions as it works to further its “product roadmap”.

RGTI, QUBT

Novo Nordisk A/S (NVO)

+2.11%

Trading higher premarket after announcing that a higher-dose version of Wegovy delivered an average 27.7% weight loss over 72 weeks among early responders in the STEP UP trial. A separate analysis showed that 84% of the weight lost came from fat mass, including a reduction of more than 30% in visceral fat, while muscle function was maintained.

Sea Ltd (SE)

+13.63%

Gapping up after its Q1 2026 earnings report. Revenue grew by 46.1% year-over-year to $7.1 billion, topping estimates, while gross profit grew by 40.7% to $3.1 billion. CEO Forrest Li expressed confidence in the company’s Shopee business and said the company is “on track” to meet its FY 2026 outlook, which includes 25% year-over-year GMV growth for Shopee.

JD.com Inc (JD)

+0.49%

On watch after its Q1 2026 earnings report, with revenue of $45.8 billion and adjusted earnings of $0.74 per share beating estimates of $45.6 billion and $0.57, respectively. Adjusted EBITDA declined by 41.6% year-over-year; adjusted EBITDA margin likewise declined by 210 basis points to 2.5%. The company posted year-over-year revenue growth across its Retail, Logistics, and New Businesses segments.

AST SpaceMobile Inc (ASTS)

-12.06%

Gapping down after its Q1 2026 earnings report. Revenue came in at $14.735 billion, representing significant growth from $718,000 in the prior-year quarter. The company attributed its revenue in part to “gateway deliveries” and achieving milestones for its deals with the US government. Adjusted operating expenses were reported at $91.2 million, marking an improvement from $95.7 million in Q1 2025.

On Holding AG (ONON)

-5.41%

Trading sharply lower premarket following its Q1 2026 earnings report. Net sales grew by 14.5% year-over-year to $1.07 billion, beating estimates of $1.05 billion; earnings of $0.40 per share similarly beat estimates of $0.35. The company’s gross margin expanded by 430 basis points year-over-year to 64.2%. On Holding projected revenue of at least $4.5 billion for FY 2026, below estimates of $4.54 billion.

Amazon.com Inc (AMZN)

-0.87%

The Financial Times reported that the company has set weekly AI-usage targets for more than 80% of its developers and tracked token consumption on internal leaderboards, prompting some employees to use the company’s MeshClaw AI agent to automate low-value tasks simply to boost their usage statistics. Although Amazon says these metrics are not part of performance evaluations, employees remain concerned that managers are monitoring the data. Some employees have reportedly raised security concerns because MeshClaw can act on users’ behalf across tools like email, Slack, and code deployment systems.

Netflix Inc (NFLX)

-0.14%

The Texas Attorney General's Office sued the company on Monday. Texas Attorney General Ken Paxton alleges the company collected and sold consumer data, including information about children, without proper consent while misleading users about its privacy practices. The lawsuit also accuses Netflix of using “dark patterns,” such as autoplay, to make the platform more addictive and keep viewers engaged longer.

Microsoft Corp (MSFT)

-0.57%

The Information reported that Microsoft and OpenAI have agreed to cap total revenue-sharing payments at $38 billion as part of a renegotiated partnership agreement. The new terms could strengthen OpenAI’s case to investors ahead of a potential IPO later this year while giving the company greater flexibility to expand partnerships with Amazon and Google.

Meta Platforms Inc (META)

-0.58%

On watch after losing a legal challenge at the Court of Justice of the European Union, which upheld an Italian regulator’s order requiring the company to compensate publishers for using snippets of their news articles online. The ruling reinforces that publishers are entitled to fair compensation under EU law. This decision adds momentum to broader copyright disputes involving OpenAI, Anthropic, and other AI companies over the use of copyrighted content for training models.

Wendy’s Co (WEN)

+24.41%

Gapping up after the Financial Times reported that activist investor Nelson Peltz’s Trian Fund Management is seeking investor support for a buyout bid, including discussions with Middle Eastern backers. Peltz, who already holds a significant stake in Wendy’s, is reportedly exploring the move as the company continues its turnaround efforts. The Wendy’s board has previously indicated that it will review any formal proposal under its fiduciary responsibilities.

BuzzFeed Inc (BZFD)

+100.31%

Gapping up after announcing that media entrepreneur Byron Allen will become CEO. This follows Allen Family Digital’s agreement to acquire a 52% stake in the company for $120 million by purchasing 40 million shares at $3 each, a 266% premium to the prior closing price. Founder Jonah Peretti will transition to president of BuzzFeed AI following the deal as the company seeks fresh capital and a strategic reset.