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

0830 - NY Fed manufacturing index for May: Expected 7.3; Prior 11

Cerebras Systems Inc (CBRS)

-2.00%

Pulling back after its Nasdaq debut on Thursday. The stock went public via IPO, selling 30 million shares to raise a total of $5.5 billion. Shares of the AI hardware company were priced at $185, above the expected price range of $150-$160, and opened at $350. Cerebras’ market capitalization was approximately $95 billion as of Thursday’s close.

NVIDIA Corp (NVDA)

-2.00%

Trading lower after both US President Trump and US Trade Representative Jamieson Greer indicated that the company’s chip sales to China were not a focal point of conversations between the countries’ leaders this week. Greer said semiconductor export controls were not a significant topic in the discussions, while Trump said Nvidia chip sales to China “didn’t come up” in his talks with Chinese Leader Xi Jinping. The comments suggest that approval for Nvidia to resume selling advanced H200 chips to China remains unlikely in the near term, despite CEO Jensen Huang joining Trump on his trip and advocating for greater market access.

Figma Inc (FIG)

+8.55%

Gapping up after its Q1 2026 earnings report, with revenue of $333.4 million and adjusted EPS of $0.10 beating estimates of $313.2 million and $0.06, respectively. Revenue grew by 46% year-over-year, while paid customers grew by 54% to approximately 690,000. The company hiked its FY 2026 revenue outlook to $1.422 billion-$1.428 billion, above analyst estimates of $1.36 billion. Figma projected Q2 2026 revenue between $348 million and $350 million, outpacing estimates of $327 million.

Microsoft Corp (MSFT)

+0.73%

Trading marginally higher premarket after hedge fund manager Bill Ackman said his firm, Pershing Square Capital Management, will reveal a new investment in Microsoft. Ackman said that he views the stock as attractively valued and said his newly-launched Pershing Square USA closed-end fund also recently made Microsoft a core holding.

Oil and Energy Stocks

+0.95%

Trading higher as a group after US President Donald Trump said China had agreed to buy US oil. The announcement, which followed Trump’s meeting with Chinese leader with Xi Jinping, has raised expectations of stronger American energy exports. China has not officially confirmed any such purchase agreement.

USO, OXY, XOM, DVN, CVX, COP, RE, TPET, EONR, BATL

Crypto Stocks

-1.32%

On watch as a group following a sector-wide rally on Thursday. The move higher came as the Clarity Act cleared the Senate Banking Committee in a 15-9 vote. The Clarity Act is expected to face further opposition ahead of clearance from the full Senate and the House of Representatives. Bitcoin is trading above $80,000 as of 6:55 AM ET on Friday.

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

Applied Materials Inc (AMAT)

-1.42%

Trading lower premarket after reporting earnings for Q2 2026. Revenue of $7.91 billion beat estimates of $7.68 billion, while adjusted earnings of $2.86 per share beat estimates of $2.68. Semiconductor systems revenue was reported at $5.97 billion. The company projected Q3 2026 revenue between $8.45 billion and $9.45 billion, beating estimates of $8.15 billion; Applied Materials’ adjusted EPS outlook of $3.16-$3.56 for the quarter similarly outpaced estimates of $2.90.

Nu Holdings Ltd (NU)

-3.94%

Trading sharply lower premarket after its Q1 2026 earnings report. The company added roughly 4 million customers in the quarter for a total of over 135 million customers across the globe. It also became the largest private financial institution in Brazil with over 115 million customers. Revenue for the quarter exceeded $5 billion, while net interest income grew by 12% sequentially to $3.25 billion.

Gemini Space Station Inc (GEMI)

+21.40%

Gapping up after its Q1 2026 earnings report, during which the company announced that Winklevoss Capital was investing $100 million at $14 per share. The investment, which is funded by bitcoin, is aimed at increasing Gemini’s liquidity and helping push strategic developments. The company’s Q1 revenue grew by 42% year-over-year to $50 million, with services revenue and interest income expanding by 122% to $25 million.

Alphabet Inc (GOOGL)

-1.69%

The company raised 576.5 billion yen (about $3.6 billion) through the largest yen-denominated bond sale ever by a foreign company, surpassing the previous record set by Berkshire Hathaway in 2019. The heavily oversubscribed offering included maturities ranging from 3 to 40 years with coupons between 1.965% and 4.599%, highlighting strong investor demand as Alphabet secures long-term financing at attractive rates.

ServiceNow Inc (NOW)

+2.73%

Continuing to trade higher premarket after gaining nearly 4% on Friday. The stock began trading higher after US President Donald Trump’s latest OGE Form 278-T disclosure showed that he purchased at least $1 million in ServiceNow shares in Q1 2026. ServiveNow is one of many names in the software sector that has struggled in recent months amid increasing concerns around AI dominance.

Magnum Ice Cream Company NV (MICC)

+12.49%

Gapping up after Reuters reported that firms including Blackstone and CD&R are considering making a bid for the company. The reported acquisition talks, which are in the early stages, come less than a year after the company’s spinoff from Unilever. Reuters’ report suggested that interested firms are watching the company’s share price and waiting on sales for the upcoming summer quarter prior to making a formal decision.