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

0830 - Core PCE price index m/m for April: Expected 0.1%; Prior 0%
0830 - Core PCE price index y/y for April: Expected 2.5%; Prior 2.6%
0830 - PCE price index m/m for April: Expected 0.1%; Prior 0%
0830 - PCE price index y/y for April: Expected 2.2%; Prior 2.3%
0830 - Consumer spending m/m for April: Expected 0.2%; Prior 0.7%
0945 - Chicago PMI for May: Expected 45; Prior 44.6
1000 - UMich consumer sentiment for May: Expected 51.5; Prior 50.8

Marvell Technology Inc (MRVL)

-3.39%

The company reported Q1 adjusted earnings of $0.62 per share and sales of $1.9 billion, narrowly exceeding estimates of $0.61 and $1.88 billion, respectively. Revenue grew by 63% year-over-year, which CEO Matt Murphy attributed to strong demand for data center-related products. For Q2, Marvell guided adjusted earnings between $0.62 and $0.72 per share, in line with estimates of $0.66, and projected quarterly sales between $1.9 billion and $2.1 billion. The company’s GAAP EPS projections for the quarter missed analyst estimates.

Dell Technologies Inc (DELL)

+0.62%

On watch after its Q1 2026 earnings report. Adjusted earnings of $1.55 per share missed estimates of $1.69, but sales of $23.38 billion exceeded expectations of $23.14 billion. The company guided Q2 sales between $28.5 billion and $29.5 billion, well above estimates of $25.05 billion, with its GAAP and adjusted EPS estimates for the quarter also exceeding expectations. Dell also raised its EPS guide for the fiscal year while reaffirming its previously-issued revenue guide of $101 billion to $105 billion.

SharpLink Gaming Inc (SBET)

+16.49%

Trading higher premarket following a significant rally on Thursday that saw the stock closing more than 170% higher. On Tuesday, the company announced a $425 private placement, the proceeds of which will be used for an Ethereum treasury strategy. “Pharma Bro” Martin Shkreli mentioned the stock as a speculative long idea in an X post on Thursday, though he noted that he was not encouraging others to get involved. SharpLink has a float of approximately 615,000 shares.

Chinese ADRs

-1.98%

Trading lower as a group, mirroring a 1.2% drop in China’s tech-heavy Hang Seng Index during the overnight session. During a Fox News interview on Thursday, US Treasury Secretary Scott Bessent indicated that U.S.-China trade talks have stalled. Bessent suggested that progress in trade negotiations between the countries now depends on direct communication between Presidents Trump and Xi Jinping.

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

Tesla Inc (TSLA)

-0.86%

On watch ahead of a press conference with CEO Elon Musk and US President Donald Trump, scheduled for 1:30 PM ET. The conference marks Musk’s final day in his official White House role as leader of the Department of Government Efficiency (DOGE). Musk faced concerns from investors throughout his tenure at DOGE due to a perceived lack of focus on Tesla and his businesses.

UiPath Inc (PATH)

+13.21%

Gapping up after its Q1 2026 earnings report, with adjusted earnings of $0.11 per share and sales of $356.62 million beating estimates of $0.10 and $332.87 million, respectively. Revenue grew by 6% year-over-year, with annual recurring revenue growing by 12%. The company raised its FY26 sales guide from $1.52 billion-$1.53 billion to $1.549 billion-$1.55 billion; the new guide exceeds analyst estimates of $1.53 billion.

Alphabet Inc (GOOGL)

+0.13%

Arguments in the high-profile US antitrust trial against Google are set to come to a conclusion on Friday. US officials are urging the court to force the company to sell its Chrome browser, stop default search engine deals, and share search data to restore competition in online search. Meanwhile, the Financial Times reported on Thursday that Germany is weighing a 10% tax on major online platforms like Google and Facebook, a move that could escalate trade tensions with the Trump administration.

Gap Inc (GAP)

-15.03%

Gapping down after its Q1 2025 earnings report. Earnings of $0.51 per share beat estimates of $0.45, and sales of $3.46 billion exceeded the expected $3.42 billion. The company reaffirmed its FY25 sales guide of $15.25 billion to $15.4 billion, the midpoint of which exceeds estimates of $15.28 billion. Gap noted that it expects its FY25 operating income to take a $100 million-$150 million hit, citing the impact of tariffs.

Quantum Stocks

-4.23%

Trading sharply lower as a group. On Thursday after the bell, Rigetti Computing filed for a mixed shelf offering of undisclosed size and amount; the company has entered into an agreement with Jefferies for the potential offering of up to $350 million in common stock as of Friday morning. Each of these tickers has a short float of at least 19%.

RGTI, IONQ, QBTS, QUBT

Zscaler Inc (ZS)

+3.84%

Trading higher premarket after its Q3 2025 earnings report, during which the company announced the appointment of Kevin Rubin as CFO. Adjusted earnings of $0.84 per share and sales of $678.03 million beat estimates of $0.75 and $666.86 million, respectively. The company guided Q4 sales between $705 million and $707 million, missing estimates of $707.61 million, and raised EPS and sales guide for fiscal 2025.

Bolt Projects Holdings Inc (BSLK)

+90.61%

The materials stock is gapping up on no particular catalyst. Bolt Projects has a market capitalization of $73.23 million and a float of 20.02 million shares.