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

0900 - Fed’s Waller speaks
1000 - Pending home sales m/m for April: Expected 1%; Prior 1.5%
1900 - Fed’s Paulson speaks
1930 - Fed’s Venable speaks

Meta Platforms Inc (META)

-0.44%

On watch ahead of a reported 10% global workforce reduction, set to take place on May 20. A report from Reuters on Monday afternoon indicated that the layoffs will take place in three batches, with employees set to be notified at 4:00 AM local time. The report, which cited an internal memo, also suggested that organizational changes will be announced alongside the layoffs. Roughly 7,000 employees will be reorganized into AI workflow-related initiatives in a move that is also designed to limit managerial positions.

Alphabet Inc (GOOGL)

+0.40%

On watch ahead of its Google I/O 2026 event, which runs from May 19-20 and kicks off with a keynote at 1:00 PM ET on Tuesday. Separately, Blackstone is investing $5 billion to launch a new AI cloud venture built around Alphabet Tensor Processing Units (TPUs), with Google providing the chips, software, and services as the venture targets 500 megawatts of AI capacity by 2027 to compete with GPU-focused providers such as CoreWeave. The project marks Google’s most significant effort yet to commercialize its in-house AI chips beyond Google Cloud, building on major TPU supply agreements already signed with Anthropic and Meta.

NVIDIA Corp (NVDA)

-1.00%

Analysts continue to weigh in on the stock ahead of the company’s post-market earnings report on Wednesday. HSBC raised its price target on NVIDIA to $325 from $295 and reiterated a Buy rating, forecasting revenue of $81.1 billion and Q2 revenue of $91.1 billion and boosting FY2028 EPS estimates by 27% to $13.01. The firm believes NVIDIA is poised for another “beat and raise” quarter, but says future upside will depend on the company expanding beyond cloud service providers into new growth areas. Bank of America separately reiterated a Buy rating and $320 price target on the stock.

Memory Stocks

-2.22%

Continuing to trade lower as a group following a sector-wide decline on Monday. Seagate dropped by more than 6% after CEO Dave Mosley said the company cannot quickly expand manufacturing capacity to meet surging AI-driven demand. Mosley explained that building new factories or installing additional equipment would take too long and could divert resources away from advancing core storage technology, raising investor concerns about Seagate’s ability to capitalize fully on the AI infrastructure boom.

MU, STX, SNDK, WDC

Oil Stocks

+1.12%

Trading higher as a group as traders monitor news out of the Middle East relating to the US-Iran conflict. Oil and energy stocks dropped sharply on Monday afternoon after US President Donald Trump announced via a Truth Social post that a planned US strike on Iran would be postponed following discussions with other stakeholders in the region.

Intel Corp (INTC)

-0.80%

CEO Lip-Bu Tan said the company’s foundry business is gaining momentum and remains a critical part of Intel’s turnaround strategy, aimed at manufacturing chips for external customers and rebuilding advanced semiconductor production capacity in the US. Tan highlighted significant progress with Intel’s closely watched 18A process technology, saying it has improved substantially since he took over. Foundry achievements could boost investor confidence that Intel can better compete with Taiwan Semiconductor Manufacturing Company.

Tesla and Microsoft

+0.33%

Tesla and SpaceX CEO Elon Musk asserted his intention to appeal the jury’s ruling in his case against Microsoft-backed OpenAI and its CEO, Sam Altman. The jury ruled on Monday afternoon that Musk’s suit fell outside of the statute of limitations, a finding that Musk called a “calendar technicality”; the district judge in the case immediately adopted the jury’s ruling. Musk alleges that OpenAI and Altman violated a promise to run the company as a nonprofit organization.

The Home Depot Inc (HD)

-0.27%

On watch after its Q1 2026 earnings report, with revenue of $41.77 billion and adjusted earnings of $3.43 per share narrowly beating estimates of $41.51 billion and $3.41, respectively. Comparable sales grew by 0.6% year-over-year, below estimates of 0.9% growth. The company guided comparable sales growth between flat and 2% for FY 2026, compared to estimates of +1.55%, and reaffirmed its previously-stated sales and EPS growth projections.

Dell Technologies Inc (DELL)

-1.36%

On watch ahead of Day 2 of its Dell Technologies World 2026 conference, which kicked off on Monday with a keynote speech featuring the likes of Nvidia CEO Jensen Huang. Dell’s price target was raised from $240 to $270 from Evercore ISI, with the analyst citing strong momentum in its enterprise AI infrastructure business showcased at Dell World. The firm highlighted rapid growth in Dell’s AI Factory platform and accelerated partnerships with companies like Nvidia.

Bilibili Inc (BILI)

-0.56%

Trading lower after its Q1 2026 earnings report. The company posted earnings of 1.41 yuan per share, better than the estimated 1.16 yuan, with revenue of 7.47 billion yuan missing estimates of 7.49 billion yuan. Ad revenue grew by 30% year-over-year, attributed to greater efficiency and offerings in the space. Mobile gaming revenue, however, declined by 12%.

Amer Sports Inc (AMER)

+3.77%

Gapping up after its Q1 2026 earnings report, with revenue growing by 32% year-over-year to $1.945 billion. Technical Apparel and Outdoor Performance revenue grew by 33% and 42%, respectively. The company hiked its sales, margin, and EPS outlook for FY 2026.

Gilat Satellite Networks Ltd (GILT)

+6.43%

Gapping up after reaching a milestone agreement with Boeing, wherein the latter company will offer Gilat’s Sidewinder multi-orbit electronically steered antenna as a line-fit option for in-flight connectivity on new aircraft. This enables airlines to install broadband connectivity during manufacturing rather than relying on later retrofits, improving efficiency and accelerating deployment of onboard internet systems.

Relay Therapeutics Inc (RLAY)

+13.78%

Gapping up after reporting positive mid-stage trial results for its drug zovegalisib, showing it reduced vascular lesion size in most patients with rare vascular disorders and delivered meaningful symptom improvements such as reduced pain and swelling. The company also said the treatment was effective even in previously treated patients and may offer a better tolerability profile due to its mutant-selective approach, supporting continued clinical development.