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

1000 - Fed’s Barr speaks
1215 - Fed’s Bowman speaks
2100 - U.S. Presidential debate

GameStop Corp (GME)

+1.88%

On watch ahead of its earnings report, which is scheduled for after the bell on Tuesday, September 10. The stock has been seeing a resurgence in retail attention since Friday, September 6, when Keith “Roaring Kitty” Gill post since June 27. The post appeared to imply that Gill was unhappy with or abandoning his position in Chewy, which he disclosed a 6.6% stake in as of July 1.

Apple Inc (AAPL)

-1.00%

Trading lower premarket after losing its appeal against an EU order requiring it to pay 13 billion euros in back taxes to Ireland, following a 2016 ruling by the European Commission. The decision upheld claims that Apple had received favorable tax treatment in Ireland, significantly reducing its tax obligations over several decades; these taxes reached a low of 0.005% in 2014. On Monday, the company held its iPhone 16 launch event, where it officially unveiled its Apple Intelligence features and announced updates to its AirPods and Apple Watches.

Tesla Inc (TSLA)

+1.12%

Trading higher premarket after Bloomberg and ET Now separately reported that the European Union plans to reduce proposed final tariffs on the company’s China-made EVs to 7.8% from an initial 9%, following adjustments based on company submissions. Other Chinese electric vehicle makers like BYD and Geely will also see slight reductions in tariff rates, while a higher rate of 35.3% is reportedly set for non-cooperating companies like SAIC. Additionally, Deutsche Bank maintained a Buy rating on the stock and set a price target of $295.

Oracle Corp (ORCL)

+8.29%

Gapping up after its Q1 2025 earnings report, with adjusted earnings of $1.39 per share and sales of $13.307 billion beating estimates of $1.32 and $13.231 billion, respectively. The company reported a 45% increase in cloud infrastructure revenue and a 21% increase in cloud revenue, and announced a partnership with Amazon Web Services in the minutes before its report. JMP Securities upgraded Oracle to Market Outperform after the report, while analysts like B of A Securities and Piper Sandler raised their price targets for the stock.

Alphabet Inc (GOOGL)

-0.16%

On watch after Europe's highest court upheld a 2.42 billion euro fine imposed on Google for using its own price comparison service unfairly against smaller European competitors. This decision marks one of three antitrust fines totaling 8.25 billion euros imposed on Google by the European Commission over the past decade. The company is currently facing an antitrust trial in the U.S., which began on Monday, September 9. Piper Sandler cut its price target for the stock from $206 to $200, citing the company’s ongoing antitrust woes.

Alibaba Group Holding Ltd (BABA)

+2.65%

Trading higher premarket following its inclusion on China's mainland stock exchanges after upgrading its Hong Kong listing. The move, allowing mainland investors access via the Stock Connect Scheme, is expected to bring significant potential inflows estimated between $17 billion and $37 billion over the next year, according to Morgan Stanley analysts.

Detroit Automakers

-2.27%

Trading lower as a trio after Wells Fargo lowered its price targets for Ford to $9 and General Motors to $33, citing expectations of a 2% decrease in vehicle production for the Detroit Three automakers in 2025 compared to 2024. The brokerage also highlighted ongoing challenges from pricing pressures, electric vehicle trends, regulatory issues, and increased competition from Asian automakers. Separately, U.S.-listed shares of Stellantis are trading sharply lower in tandem with BMW after the latter reported earnings; on Monday, Stellantis announced a global recall of 1.46 million vehicles due to software malfunction concerns.

F, GM, STLA

Taiwan Semiconductor Manufacturing Co (TSM)

-1.28%

Trading lower premarket after reporting a 2.4% month-over-month decline in net revenue for August 2024. However, the metric increased by 33% on a year-over-year basis, while revenue for the months of January to August jumped by 30.8% year-over-year.

AstraZeneca PLC (AZN)

-1.06%

The company’s U.S.-listed shares are trading lower premarket after results from its lung cancer trials showed no significant improvement in overall survival for patients. Analysts from JP Morgan expressed caution over the drug's potential FDA approval by year-end, though they noted that the stock’s likely weakness throughout the rest of 2024 could serve as an opportunity to buy before providing updates to its pipeline in 2025.

SMX (Security Matters) PLC

+128.44%

Gapping after receiving moderate social media attention despite a lack of an apparent catalyst. The stock has a float of 588,900 shares and a market capitalization of $1.61 million.