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

0945 - S&P services PMI for April: Expected 51.4; Prior 51.4
0945 - S&P composite PMI for April: Prior 51.2
1000 - ISM services PMI for April: Expected 50.2; Prior 50.8

Palantir Technologies Inc (PLTR)

+0.25%

On watch ahead of its earnings report, scheduled to be released after the bell on May 5, 2025. Analysts are looking for the company to report earnings of $0.13 per share and revenue of $862.89 million, according to consensus estimates. Wedbush analyst Dan Ives called Palantir “the missing piece in the AI puzzle” ahead of its earnings report, citing strong momentum in U.S. commercial AI and defense initiatives.

Film and Streaming Companies

-2.33%

Trading lower as a group after President Donald Trump announced a 100% tariff on all foreign-produced movies, calling it a response to what he described as a national security threat posed by other countries luring film production abroad with incentives. The announcement did not include implementation details, resulting in a lack of clarity on how the tariffs would affect both theatrical and streaming releases.

NFLX, DIS, WBD, PARA

Meta Platforms, Alphabet, and PDD

-2.67%

All three companies are on watch following the expiration of the de minimis rule on Friday, May 2. The closure of the tariff-free shipping loophole has forced Chinese retailers like PDD’s Temu to scale back their low-cost business models and significantly cut U.S. digital ad spending. This shift has disrupted ad revenue for major tech platforms like Meta and Google; data from marketing firm Tinuiti showed that Temu’s presence on Google Shopping ads dropped from 19% to zero in just one week.

META, GOOGL, PDD

NVIDIA Corp (NVDA)

-1.18%

On watch after Reuters reported that U.S. Representative Bill Foster plans to introduce legislation requiring tracking of AI chips like those made by Nvidia to prevent their unauthorized transfer to countries such as China. The proposed bill would mandate regulators to implement rules ensuring chips can only operate when properly licensed, leveraging tracking capabilities already embedded in many chips.

Tesla Inc (TSLA)

-0.75%

The company’s new vehicle registrations in Spain from January to April 2025 dropped by 16.6% on a year-over-year basis, according to industry group ANFAC. This drop comes as electric car sales grew by 54% in the region over the same period.

Crypto Stocks

-2.67%

Trading lower as a group in tandem with Bitcoin, which is poised for its third straight red session. The cryptocurrency peaked just below $98,000 on Friday before selling off over the weekend, and is trading around the $94,000 level as of Monday around 7:40 AM ET.

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

Apple Inc (AAPL)

-1.22%

The company is reportedly planning to stagger its iPhone releases starting with the iPhone 18 series in 2026, launching high-end models in the fall and more affordable versions in the spring of 2027. This shift, reported by Engadget via the Information, may include the debut of a foldable iPhone and marks a significant change from Apple’s traditional practice of unveiling all models together each September.

Berkshire Hathaway Inc (BRK.B)

-2.64%

Trading lower premarket after CEO Warren Buffett announced he will step down at the end of 2025, marking the end of his legendary 60-year tenure with the company. Buffett named Vice Chairman Greg Abel as his successor and is set to remain available via an advisory role. The transition comes as Berkshire reported a drop in first-quarter operating profit and a record $347.7 billion cash reserve.

Block Inc (XYZ)

-1.52%

Trading lower premarket after Piper Sandler downgraded the stock from Overweight to Neutral and slashed its price target from $85 to $51. The downgrade was attributed to softness in Block’s Cash App segment revenue, as well as macroeconomic headwinds that could impact the company’s full-year 2025 outlook. The stock closed more than 20% lower on Friday following Block’s earnings report.

Unusual Machines Inc (UMAC)

-17.88%

Gapping down after launching a public offering of common stock to fund expansion of its domestic manufacturing operations and support general corporate needs. The offering's timing, size, and terms remain uncertain and are subject to market conditions. The stock previously rallied in November after Donald Trump Jr. joined the company’s board.

Hyperscale Data Inc (GPUS)

+212.41%

Gapping up after announcing preliminary earnings for Q1 2025. The company reported $25 million in preliminary revenue for the quarter and guided FY25 revenue between $115 million and $125 million. The stock has a float of 1.37 million shares, approximately 15.37% of which are sold short.