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

0945 - S&P Global Manufacturing PMI: Expected 49.9; Prior 50.2
0945 - S&P Global Services PMI: Expected 51; Prior 50.8

1000 - Existing home Sales for April: Expected 4.15M; Prior 4.02M
1000 - Existing home Sales M/M for April: Prior -5.9%
1200 - 10-Year TIPS Auction: Prior 1.935%
1400 - Fed’s Williams Speaks

Crypto Stocks

+4.47%

Bitcoin hit a fresh all-time high above $111,000 overnight, driven by institutional demand, regulatory optimism around the GENIUS Act, and safe-haven appeal following Moody’s U.S. credit downgrade. The rally continues despite weakness in U.S. equities, suggesting BTC is decoupling from tech stocks. JPMorgan’s move to enable client access adds to momentum. Crypto stocks and miners could be in play off the open.

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

Snowflake Inc.

10.18%

Snowflake (SNOW) jumped over 10% in the premarket after posting a strong Q1 beat, with revenue up 26% YoY to $1.04B and adjusted EPS of $0.24 vs. $0.20 expected. Product revenue hit $996.8M, also beating estimates, as enterprise AI demand continues fueling growth. The company guided above consensus for both Q2 and full-year product revenue, projecting $4.33B for FY25. With shares already up 16% YTD and strong AI tailwinds, SNOW remains a key name to watch on today’s tape.

SNOW

Zoom Communications

+0.66%

Zoom posted a solid earnings beat with EPS of $1.43 (vs. $1.30 est) and revenue of $1.17B (+2.9% YoY, vs. $1.16B est). Strength was driven by enterprise revenue ($704.7M vs. $689.4M est) and RPO growth. However, Enterprise Customers fell short at 182,600 (vs. 193K est), raising concerns about user base momentum. Geographic strength was seen in the Americas (+3.5% YoY) while EMEA and APAC growth remained tepid. Despite the beat, ZM holds a Zacks #4 (Sell) rating, suggesting limited upside. Stock is +15.8% MTD vs. S&P +12.7% — potential fade candidate on guidance or valuation worries.

ZM

NVIDIA Corp and Chip Stocks

+0.55%

In play as a group after both rockiness in the Bond market and the announcement that the US would keep its China chip curbs despite strong criticism from Nvidia CEO Jensen Huang and other leaders. Bouncing slightly after giving back all of yesterdays early gains to close at lows of the week

NVDA, AMD, CRWV, MU, SMCI, SMH

First Solar and Solar Stocks

-6.15%

All trading sharply lower as a group as the One Big Beautiful Bill Act moves forward. The bill will expidite cuts to the Biden Era Clean energy tax credits. SunRun in particular is being hit the hardest down 30%

FSLR, RUN, SEDG, ENPH, TAN

Health Insurance Companies

-5.19%

Health insurer stocks are under pressure after CMS announced an aggressive expansion of Medicare Advantage audits, aiming to recoup an estimated $17B in annual overpayments. Humana (HUM) dropped over 5% premarket as a pure-play MA provider, while UnitedHealth (UNH), CVS Health (CVS), and Cigna (CI) slipped 2.1%, 2.5%, and 0.3%, respectively. The agency will audit all eligible MA contracts annually and accelerate reviews for 2018–2024. Analysts warn the impact is hard to quantify but note MA plans are already struggling to offset higher senior care utilization, suggesting continued pressure on the sector.

HUM, CVS, UNH

Urban Outfitters, Inc

17.7%

Trading above 52wk highs after the retailer reported strong first-quarter results, with earnings per share of $1.16, beating analyst expectations of $0.82 by over 41%. Revenue reached $1.33 billion, surpassing the $1.28 billion estimate. Retail segment net sales rose 6.4%, driven by growth in both physical stores and digital channels, with Anthropologie leading at 6.9% comparable sales growth. The subscription segment surged 59.5% due to a sharp increase in active subscribers, while wholesale sales climbed 24.2%, fueled by strong performance from Free People’s sales to specialty and department stores. The stock has a significant 17% short float.

URBN

Nike Inc.

-0.11%

Nike (NKE) is rejoining Amazon (AMZN) as a direct seller for the first time since 2019, signaling a major shift in its distribution strategy and a win for Amazon’s premium brand push. The move comes as Nike looks to expand marketplace reach and leverage AI-powered shopping tools to meet consumers across more channels. Amazon will begin sourcing a broader range of Nike products directly, ending its limited “gated” brand status. The news could boost digital sales for Nike and enhance Amazon’s apparel credibility, while pressuring margins for third-party resellers. Watch both stocks for upside momentum on this renewed partnership.

NKE, AMZN

Navitas Semiconductor Corp

176%

BNavitas Semiconductor shares surged in after-hours trading after the company announced a collaboration with Nvidia. The partnership will support Nvidia's next-generation 800V HVDC architecture, designed for efficient, scalable power delivery in AI-focused Kyber rack-scale systems. This development highlights Navitas' role in advancing power solutions for cutting-edge GPU technology. The float and short float are 24M and 18% respectively.

NVDA

Hinge Health - IPO

0.00%

Hinge Health (HNGE) makes its NYSE debut today after pricing its IPO at $32/share — the top of its expected range — raising $273M and valuing the digital physical therapy startup at ~$2.6B. The offering, which includes 8.52M primary shares, comes as the company posts strong Q1 results: revenue jumped 50% YoY to $123.8M with a swing to net income of $17.1M. Hinge becomes the first major digital health IPO since 2021, marking a potential sentiment shift in the sector. Backed by Tiger Global and Coatue, HNGE could act as a key barometer for broader tech IPO appetite amid rising momentum in newly listed names.

HNGE