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

0945 - S&P manufacturing PMI for October: Expected 52.2; Prior 52.2
1000 - ISM manufacturing PMI for October: Expected 49.4; Prior 49.1
1200 - Fed’s Daly speaks
1400 - Fed’s Cook speaks

NVIDIA Corp and Microsoft Corp

+1.07%

The Financial Times reported that the US has approved Microsoft to export Nvidia AI chips to the UAE for the first time, following a Trump–MBZ agreement to develop a major AI data center campus in Abu Dhabi. Microsoft President Brad Smith said the license was granted in September under strict U.S. security conditions. Smith noted that Microsoft plans to invest over $7.9 billion in the UAE from 2026 to 2029, including $5.5 billion for AI and cloud infrastructure. Nvidia is trading higher premarket, while Microsoft is relatively flat.

NVDA, MSFT

Palantir Technologies Inc (PLTR)

+2.58%

Trading higher premarket in anticipation for its Q3 2025 earnings report, scheduled to be released after the bell on Monday, November 3. Analysts are looking for the company to post earnings of $0.17 per share and revenue of $1.09 billion. The stock is poised to open at new all-time highs following a strong showing on Friday.

IREN Ltd (IREN)

+21.88%

Gapping up after signing a five-year, $9.7 billion GPU cloud services contract with Microsoft. The agreement will give Microsoft access to Nvidia GB300 chips, with Microsoft making a 20% prepayment. To support the deal, IREN will buy $5.8 billion worth of GPUs and equipment from Dell and deploy them at its 750MW Childress, Texas campus through 2026, expanding its liquid-cooled data center capacity.

Alphabet Inc (GOOGL)

+0.54%

Bloomberg reported that the company is issuing at least €3 billion in euro-denominated bonds across six maturities ranging from 3 to 39 years to support its AI and cloud expansion. The 3-year tranche is priced about 60 basis points over mid-swaps, while the 39-year tranche is around 190 basis points. This marks Alphabet’s second euro bond sale of 2025 after a €6.75 billion debut earlier this year.

Tesla Inc (TSLA)

+0.51%

The company has agreed to a $2 billion, three-year deal with South Korea’s Samsung SDI to supply energy storage system (ESS) batteries, according to a Korean newspaper report cited by Reuters. The deal follows Tesla’s 44% growth in its energy storage business and a prior $4.3 billion supply agreement with LG Energy Solutions for LFP batteries. Separately, data from Spain’s auto industry group showed that Tesla registrations fell by 30.6% year-over-year in the country for October 2025.

Kenvue Inc (KVUE)

+19.00%

Gapping up after Kimberly-Clark announced that it will acquire the company in a cash-and-stock deal valued at about $48.7 billion, creating a global health and wellness leader with 10 iconic billion-dollar brands. The merger is expected to generate $2.1 billion in annual synergies and become accretive to Kimberly-Clark’s adjusted EPS by the second year. Kenvue, which owns Tylenol and was spun off from Johnson & Johnson in 2023, has been under fire as of late after the Trump administration made connections between Tylenol usage in pregnancy and autism.

Cipher Mining Inc (CIFR)

+20.80%

Gapping up after its Q3 2025 earnings report, during which the company announced a 15-year, roughly $5.5 billion lease agreement with Amazon Web Services (AWS) to provide turnkey data center space and power for AI workloads. The company will deliver 300MW of capacity in 2026, featuring both air- and liquid-cooled rack solutions. Cipher reported adjusted earnings of $0.10 per share for Q3 2025, better than an estimated $0.02-per-share loss, though sales of $71.707 million missed estimates of $78.602 million.

Rigetti Computing Inc (RGTI)

-0.90%

Trading marginally lower premarket after B. Riley downgraded the stock from Buy to Neutral while raising its price target to $42 from $35, citing strong recent deals but limited near-term upside after a 190% year-to-date rally. The firm said Rigetti’s $19 million quarterly cash burn is manageable given its $572 million cash balance. However, B. Riley argued that the company’s hefty valuation already reflects much of its long-term potential, adding that ongoing US government funding delays pose sales risks.

Fubotv Inc (FUBO)

-2.38%

Trading lower premarket following its Q3 2025 earnings report. Adjusted earnings of $0.02 per share beat estimates of a $0.04-per-share loss, while sales of $369 million beat estimates of $361.329 million. On October 29, the company completed its business combination with Disney’s Hulu + Live TV business.

Beyond Meat Inc (BYND)

-8.46%

Gapping down after rescheduling its Q3 2025 earnings report from November 4 to November 11. On October 24, the company reported preliminary Q3 results and flagged non-cash impairment charges for the quarter.

MSP Recovery Inc (MSPR)

+153.09%

Gapping up on no apparent news. The stock has a market capitalization of $330,000 and a float of 660,000 shares, approximately 25% of which are sold short.

Rein Therapeutics (RNTX)

+26.52%

Gapping up after announcing that the FDA has lifted its full clinical hold on the company’s Phase 2 Renew trial. The trial, which studied the use of LTI-03 in patients facing idiopathic pulmonary fibrosis, has been cleared to resume.