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

0830 - Initial jobless claims: Expected 230k; Prior 227k
0830 - GDP q/q (2nd est) for Q1: Expected -0.3%; Prior -0.3%
0830 - Fed’s Barkin speaks
1000 - Pending home sales change m/m for April: Expected -1%; Prior 6.1%
1040 - Fed’s Goolsbee speaks
1400 - Fed’s Kugler speaks
1600 - Fed’s Daly speaks

NVIDIA Corp (NVDA)

+5.62%

Gapping up after reporting earnings for Q1 2026. The company reported adjusted earnings of $0.96 per share for the quarter when excluding impacts from its previously-announced H20 charges, beating estimates of $0.88; sales of $44.06 billion similarly beat estimates of $43.21 billion and grew by 69% year-over-year. Data center revenue grew by 73% year-over-year and 10% quarter-over-quarter. The company guided Q2 sales between $44.1 billion and $45.9 billion compared to estimates of $45.78 billion. Separately, the Wall Street Journal reported that lawmakers in the US believe that Nvidia is “too close” to China.

Chinese ADRs

+2.43%

Trading higher as a group in tandem with gains in the Hang Seng Index and CSI 300 Index during Wednesday’s overnight session. The U.S. Court of International Trade has blocked President Donald Trump's sweeping reciprocal tariffs, ruling they exceeded the authority granted under the International Emergency Economic Powers Act (IEEPA) and bypassed required congressional approval. The decision does not impact tariffs on goods like aluminum and steel because they were implemented without invoking the IEEPA.

BABA, BILI, BIDU, PDD, JD, LI, NIO, XPEV, FXI, KWEB

Tesla Inc (TSLA)

+2.27%

CEO Elon Musk announced that he is stepping down from his role as a special government employee leading the Department of Government Efficiency (DOGE). Due to his special government employee designation, Musk is only able to work for 130 days per calendar year; this time will elapse by the end of May 2025. Separately, Musk said that Tesla has begun testing driverless Model Y vehicles in Austin, Texas, with plans to deliver the first unit in June—one month ahead of schedule.

HP Inc (HPQ)

-9.56%

Gapping down after its Q2 2025 earnings report. Adjusted earnings of $0.71 per share missed estimates of $0.80, but sales of $13.22 billion beat estimates of $13.15 billion. The company cut its adjusted EPS guidance for FY 2025 from $3.45-$3.75 to $3.00 to $3.30, lower than the expected $3.49. HP also guided adjusted and GAAP earnings per share below estimates for Q3 2025.

Alphabet Inc (GOOGL)

+1.07%

Google has launched direct online sales of its hardware devices in India, including Pixel phones, watches, and earbuds, via the official Google Store website. This move comes ahead of the company's planned opening of its first physical retail stores in India, its first outside the U.S, as previously reported by Reuters.

Salesforce Inc (CRM)

+0.39%

On watch after its Q1 2026 earnings report, with adjusted earnings of $2.58 per share and sales of $9.83 billion beating estimates of $2.55 and $9.75 billion, respectively. The company guided Q2 GAAP earnings between $1.80 and $1.82 per share, better than the estimated $1.71 per share, and its sales guide of $10.11 billion to $10.16 billion beat estimates of $10.01 billion. Salesforce also raised EPS and sales guidance for FY26.

e.l.f. Beauty Inc (ELF)

+10.56%

Gapping up after announcing its acquisition of Hailey Bieber’s skincare brand, Rhode, for up to $1 billion, aiming to tap into its strong Gen Z and millennial following and expand into the prestige beauty market. The deal includes $800 million in cash and stock, plus a potential $200 million earnout. The Rhode acquisition signals a strategic shift for Elf as the company faces slowing demand in the mass market due to inflation pressures.

Starbucks Corp (SBUX)

-0.83%

TD Cowen downgraded the stock from Buy to Hold, maintaining a $90 price target. The analyst attributed the downgrade to concerns over delayed same-store sales growth, rising competition, and labor investments that may hinder near-term profitability. The firm expects Starbucks' 2026–2028 earnings to fall short of market expectations, noting that the stock is currently trading above historical valuation multiples.

SentinelOne Inc (S)

-13.22%

Gapping down after its Q1 2026 earnings report. The company reported in-line earnings of $0.02 per share, with sales of $229.03 million narrowly beating estimates of $228.35 million. SentinelOne guided Q2 sales of $242 million, below estimates of $244.88 million. The company cut its FY26 sales guidance to a range between $996 million and $1 billion, below estimates of $1.01 billion.

C3.ai Inc (AI)

+14.38%

Gapping up after its Q4 2025 earnings report. The company posted losses of $0.16 per share, narrower than the expected loss of $0.20, with sales of $108.7 million beating estimates of $107.73 million. The midpoint of the company’s guidance for Q1 and FY2026 sales was in-line with analyst estimates. The company also announced the renewal and expansion of its joint venture with Baker Hughes, aimed at using AI to grow the energy and industrial space, through June 2028.

Kohl’s Corp (KSS)

+4.81%

Trading sharply higher premarket following its Q1 2025 earnings report. Losses of $0.13 per share were much narrower than the expected loss of $0.37, while sales of $3.23 billion beat estimates of $3.02 billion. The company reaffirmed its prior GAAP earnings guidance of $0.10 to $0.60 per share for FY25, compared to estimates of $0.44, and expects comparable sales to drop by 4% to 6%. Roughly 53.8% of the stock’s float is sold short.

Zeo Energy Corp (ZEO)

+104.43%

Gapping up after announcing its planned acquisition at Heliogen. The deal is valued at $10 million and will consist of an all-stock transaction. Zeo has a float of 2.44 million shares and reported Q4 2024 earnings on Tuesday, May 27.