June 01, 2026 · Market Brief

Pre-Market · June 01, 2026

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Mega-cap tech surged overnight on Nvidia's RTX Spark and Vera platform announcements, with QQQ +0.76% and TQQQ +2.26% leading the charge. Enterprise software dominated gainers—CRM +10.5%, ORCL +10.6%, NOW +9.4%, DELL +11.0%—as Jensen Huang dismissed AI disruption fears, while semiconductor winners MRVL +8.6%, ARM +16.0%, and CDNS +9.5% rallied on infrastructure tailwinds. Losers were clear: INTC -6.0% and QCOM -8.9% face PC market share threats, while CEG -7.0% and FDX -17.3% were crushed by secondary dilution and spinoff execution concerns respectively. Gaming stocks surged on M&A momentum (MGM +17.5% on Diller bid; WYNN +6.0%, LVS +5.6%) as sector consolidation accelerates.

Recommendation

Buy:** Enterprise software names (ORCL, CRM, NOW, ADBE) on durable demand tailwinds and today's confirmation that AI augments rather than replaces workers. **Buy:** AI infrastructure plays (MRVL, ARM, ANET, MU) as capex cycles accelerate. **Avoid:** INTC and QCOM—Nvidia's PC chip threat is structural, not cyclical; wait for stabilization. **Avoid:** CEG at current levels given shareholder dilution; FDX management execution remains questionable post-spinoff.

Indices & ETFs

SPY$759.62

▲ 0.42%

7D ▲ 1.9%30D ▲ 5.4%6M ▲ 11.7%

QQQ$743.91

▲ 0.76%

7D ▲ 3.7%30D ▲ 10.3%6M ▲ 20.5%

TQQQ$86.47

▲ 2.26%

7D ▲ 11.1%30D ▲ 32.4%6M ▲ 60.0%

SOXL$227.48

▲ 1.40%

7D ▲ 19.4%30D ▲ 74.4%6M ▲ 450.7%

SPX$7612.78

▲ 0.43%

7D ▲ 1.9%30D ▲ 5.3%6M ▲ 11.7%

Top Movers48 movers

MGMMGM Resorts International▲ 17.5%

Barry Diller's People Inc. submitted an $18 billion takeover bid for MGM Resorts at $48.30 per share in cash.

Price

$43.67 → $51.32

Mkt Cap

$13.1B

P/E

69.9x

▲ 33.6%

30D

▲ 33.3%

▲ 44.8%

FDXFedEx Corporation▼ 17.3%

FedEx completed spinoff of its LTL freight division, reducing parent company value despite creating independent FedEx Freight entity trading separately.

Price

$411.75 → $340.58

Mkt Cap

$81.4B

P/E

18.2x

▼ 13.6%

30D

▼ 13.5%

▲ 24.6%

ARMArm Holdings plc▲ 16.0%

Nvidia's RTX Spark AI chip launch validates Arm architecture for next-generation AI PCs, expanding Arm's royalty opportunities.

Price

$353.29 → $409.96

Mkt Cap

$437.7B

P/E

482.1x

▲ 33.8%

30D

▲ 94.1%

▲ 203.7%

DDOGDatadog, Inc.▲ 11.6%

Datadog's FedRAMP High certification unlocked government sector opportunity, driving investor enthusiasm for its expanded addressable market.

Price

$247.35 → $276.10

Mkt Cap

$98.3B

P/E

690.4x

▲ 24.2%

30D

▲ 96.5%

▲ 74.9%

DELLDell Technologies Inc.▲ 11.0%

Dell surged 11% after Nvidia announced new AI chips for personal computers, positioning Dell as a key beneficiary of PC market AI integration.

Price

$420.91 → $467.06

Mkt Cap

$303.8B

P/E

53.9x

▲ 58.2%

30D

▲ 122.2%

▲ 253.6%

ITGartner, Inc.▲ 10.9%

Gartner's stock likely surged 10.9% due to increased enterprise demand for AI advisory services as companies seek guidance connecting AI investments to measurable business outcomes.

Price

$162.20 → $179.96

Mkt Cap

$12.1B

P/E

17.8x

▲ 12.5%

30D

▲ 22.9%

▼ 22.0%

ORCLOracle Corporation▲ 10.6%

Oracle likely surged 10.6% on positive analyst sentiment and renewed confidence in enterprise software demand amid easing AI concerns.

Price

$225.78 → $249.81

Mkt Cap

$718.9B

P/E

44.8x

▲ 30.1%

30D

▲ 45.4%

▲ 24.3%

CRMSalesforce, Inc.▲ 10.5%

Salesforce rallied 10.5% on Nvidia's positive software outlook and its Contentful AI acquisition announcement expanding enterprise capabilities.

Price

$191.10 → $211.22

Mkt Cap

$172.9B

P/E

24.4x

▲ 17.3%

30D

▲ 14.9%

▼ 9.3%

HPEHewlett Packard Enterprise Company▲ 10.1%

HPE surged on Nvidia's new Vera CPU launch for servers, positioning the company to capitalize on growing agentic AI workloads.

Price

$43.04 → $47.38

Mkt Cap

$62.9B

P/E

N/A

▲ 26.1%

30D

▲ 65.8%

▲ 116.0%

FDSFactSet Research Systems Inc.▲ 9.8%

FactSet likely rose 9.8% as its IPO advisory and research services benefit from increased IPO activity and strong market receptivity for tech company offerings.

Price

$245.47 → $269.56

Mkt Cap

$9.8B

P/E

17.3x

▲ 16.2%

30D

▲ 18.4%

▼ 2.7%

GDDYGoDaddy Inc.▲ 9.5%

GoDaddy surged 9.5% on investor enthusiasm for its new AI tools, including Airo for WordPress and Agent Name Service for AI agents.

Price

$85.83 → $93.98

Mkt Cap

$12.5B

P/E

14.9x

▲ 3.9%

30D

▲ 8.3%

▼ 26.5%

CDNSCadence Design Systems, Inc.▲ 9.5%

# CDNS 9.5% Rise - Likely Reason: Cadence's AI virtual engineer agent independently performing complex chip design work boosted investor confidence in its AI-driven future.

Price

$374.93 → $410.41

Mkt Cap

$113.2B

P/E

96.1x

▲ 9.9%

30D

▲ 20.4%

▲ 32.6%

NOWServiceNow, Inc.▲ 9.4%

ServiceNow rallied as Nvidia CEO Jensen Huang dispelled fears that AI would obsolete software companies, signaling strong demand for enterprise software solutions.

Price

$124.37 → $136.08

Mkt Cap

$140.3B

P/E

81.0x

▲ 33.2%

30D

▲ 49.3%

▼ 17.2%

HPQHP Inc.▲ 9.1%

HP surged as Nvidia announced new AI chips for Windows PCs, with HP selected as a manufacturing partner for AI-powered laptops.

Price

$27.04 → $29.51

Mkt Cap

$27.0B

P/E

10.9x

▲ 16.9%

30D

▲ 41.7%

▲ 21.0%

QCOMQUALCOMM Incorporated▼ 8.9%

Nvidia's new RTX Spark chip for AI-powered PCs threatens Qualcomm's mobile processor dominance as computing shifts toward AI-capable personal devices.

Price

$251.02 → $228.75

Mkt Cap

$241.1B

P/E

24.6x

▼ 4.0%

30D

▲ 29.2%

▲ 36.1%

MRVLMarvell Technology, Inc.▲ 8.6%

Marvell surged 8.6% as investors recognized its strong positioning in the AI infrastructure boom, similar to NVIDIA's gains this year.

Price

$205.00 → $222.55

Mkt Cap

$195.0B

P/E

76.5x

▲ 13.4%

30D

▲ 34.9%

▲ 144.3%

TRIThomson Reuters Corporation▲ 8.5%

Thomson Reuters surged 8.5% on strong Q1 2026 earnings, AI-driven revenue growth, and a 10% dividend increase to $2.62 annually.

Price

$86.51 → $93.86

Mkt Cap

$41.0B

P/E

27.0x

▲ 9.3%

30D

▼ 0.6%

▼ 29.5%

CBOECboe Global Markets, Inc.▼ 8.3%

# Likely Reason for CBOE's 8.3% Decline CBOE's stock fell likely due to increased competition in prediction markets from Nasdaq and other exchanges entering the space, diluting CBOE's market position.

Price

$333.56 → $305.96

Mkt Cap

$32.0B

P/E

26.1x

▼ 14.4%

30D

▼ 6.4%

▲ 19.9%

TTDThe Trade Desk, Inc.▲ 8.2%

TTD surged 8.2% as broader market rally on US-Iran truce reports lifted tech stocks, offsetting recent Sell rating headwinds.

Price

$21.56 → $23.33

Mkt Cap

$11.0B

P/E

26.5x

▲ 4.3%

30D

▼ 3.7%

▼ 41.0%

WDAYWorkday, Inc.▲ 8.2%

Software stocks rallied broadly as Nvidia's CEO dismissed AI disruption concerns and positive earnings from Snowflake and Dell boosted sector sentiment.

Price

$146.19 → $158.14

Mkt Cap

$39.1B

P/E

49.1x

▲ 23.4%

30D

▲ 24.6%

▼ 25.9%

ANETArista Networks, Inc.▲ 7.8%

Arista's raised full-year guidance and surging AI networking demand from hyperscalers deploying its Ethernet solutions drove the 7.8% gain today.

Price

$159.47 → $171.93

Mkt Cap

$216.3B

P/E

59.2x

▲ 11.6%

30D

▼ 0.4%

▲ 34.2%

AXONAxon Enterprise, Inc.▲ 7.8%

Axon Enterprise gained 7.8% following positive commentary on AI and counter-drone technology demand driving future growth prospects.

Price

$448.72 → $483.67

Mkt Cap

$39.0B

P/E

195.8x

▲ 25.3%

30D

▲ 20.2%

▼ 9.3%

VEEVVeeva Systems Inc.▲ 7.6%

Veeva surged on major enterprise wins (Merck KGaA, Teva) adopting Vault CRM and the launch of its new Falcon AI platform for drug development.

Price

$174.34 → $187.51

Mkt Cap

$30.6B

P/E

34.5x

▲ 17.1%

30D

▲ 9.3%

▼ 22.0%

ADSKAutodesk, Inc.▲ 7.5%

Autodesk surged 7.5% on better-than-expected Q1 earnings, strong forward guidance, and a Zacks upgrade reflecting improved growth prospects.

Price

$231.31 → $248.76

Mkt Cap

$52.5B

P/E

36.3x

▲ 3.2%

30D

▲ 1.8%

▼ 18.5%

INTUIntuit Inc.▲ 7.5%

Intuit rallied 7.5% on analyst optimism about its oversold valuation, Mailchimp's new Analytics AI capabilities, and strong hedge fund positioning despite TurboTax headwinds.

Price

$331.53 → $356.27

Mkt Cap

$97.5B

P/E

21.8x

▲ 11.4%

30D

▼ 10.7%

▼ 43.6%

PANWPalo Alto Networks, Inc.▲ 7.4%

Palo Alto Networks surged 7.4% as software stocks rebounded and the cybersecurity leader tends to rally ahead of earnings reports.

Price

$281.69 → $302.64

Mkt Cap

$245.4B

P/E

168.1x

▲ 16.1%

30D

▲ 67.1%

▲ 61.2%

EPAMEPAM Systems, Inc.▲ 7.4%

EPAM gained 7.4% as broad market indices hit all-time highs on AI/data center momentum, offsetting Jefferies' cautious IT services sector outlook.

Price

$102.46 → $110.07

Mkt Cap

$5.8B

P/E

15.9x

▲ 7.2%

30D

▼ 2.0%

▼ 42.2%

GENGen Digital Inc.▲ 7.2%

Gen Digital's strongest fiscal year in a decade, driven by core cybersecurity growth and AI-enhanced Norton browser security features.

Price

$25.79 → $27.66

Mkt Cap

$16.7B

P/E

17.6x

▲ 11.4%

30D

▲ 42.8%

▲ 5.2%

CEGConstellation Energy Corporation▼ 7.0%

Constellation Energy fell 7% due to an 11 million share secondary offering at $281, diluting existing shareholders despite a planned $2 million buyback.

Price

$287.75 → $267.49

Mkt Cap

$96.6B

P/E

23.2x

▼ 9.0%

30D

▼ 13.1%

▼ 25.5%

MUMicron Technology, Inc.▲ 6.4%

# Micron Technology Stock Move Raymond James lifted its target on strong AI-driven memory demand and tight supply, boosting investor confidence in the memory supercycle thesis.

Price

$971.00 → $1033.20

Mkt Cap

$1.2T

P/E

48.8x

▲ 37.6%

30D

▲ 90.6%

▲ 329.7%

CRWDCrowdStrike Holdings, Inc.▲ 6.4%

CrowdStrike benefited from broad technology sector gains led by Nvidia's AI announcements and positive sentiment toward software stocks this week.

Price

$731.00 → $777.82

Mkt Cap

$197.9B

P/E

N/A

▲ 17.2%

30D

▲ 70.7%

▲ 54.3%

LITELumentum Holdings Inc.▲ 6.4%

Lumentum's AI laser chip business is gaining momentum with record EML shipments and surging 200G demand, benefiting from broader AI infrastructure investments.

Price

$854.96 → $909.70

Mkt Cap

$70.7B

P/E

161.2x

▼ 3.9%

30D

▼ 4.2%

▲ 186.1%

FTNTFortinet, Inc.▲ 6.3%

FTNT likely rose 6.3% as broad cybersecurity sector gained on AI-driven security spending momentum and positive market sentiment toward tech infrastructure investments.

Price

$137.97 → $146.71

Mkt Cap

$107.6B

P/E

56.9x

▲ 9.5%

30D

▲ 70.0%

▲ 79.3%

IBMInternational Business Machines Corporation▲ 6.2%

Barclays raised IBM's price target to $350, citing momentum in quantum computing as the stock follows Nvidia's trajectory.

Price

$297.80 → $316.36

Mkt Cap

$297.8B

P/E

28.1x

▲ 24.6%

30D

▲ 36.2%

▲ 3.5%

ROPRoper Technologies, Inc.▲ 6.2%

Roper Technologies surged 6.2% following strong Q1 2026 earnings with 11% revenue growth and analyst optimism after recent oversold conditions.

Price

$325.53 → $345.71

Mkt Cap

$34.9B

P/E

21.6x

▲ 5.7%

30D

▼ 3.5%

▼ 22.1%

ADBEAdobe Inc.▲ 6.2%

Adobe rallied with the broader software sector as investor sentiment improved following strong earnings from Snowflake and Dell.

Price

$259.21 → $275.20

Mkt Cap

$111.3B

P/E

16.0x

▲ 12.4%

30D

▲ 9.8%

▼ 14.8%

NVDANVIDIA Corporation▲ 6.1%

Nvidia's new RTX Spark chips and Vera platform unlock major growth opportunities in AI-enabled PCs and enterprise software, driving investor optimism.

Price

$211.14 → $224.02

Mkt Cap

$5.4T

P/E

34.4x

▲ 4.0%

30D

▲ 12.9%

▲ 24.5%

INTCIntel Corporation▼ 6.0%

Nvidia's new PC chips threaten Intel's traditional core market dominance, sparking investor concern about competitive pressure.

Price

$114.68 → $107.79

Mkt Cap

$541.8B

P/E

N/A

▼ 10.1%

30D

▲ 8.2%

▲ 169.4%

TPLTexas Pacific Land Corporation▼ 6.0%

TPL likely declined 6.0% today due to profit-taking after its strong 29.7% year-to-date rally, with investors questioning valuation sustainability.

Price

$393.00 → $369.46

Mkt Cap

$25.5B

P/E

50.9x

▼ 8.1%

30D

▼ 14.8%

▲ 29.8%

WYNNWynn Resorts, Limited▲ 6.0%

WYNN likely rose 6% due to M&A momentum in gaming sector, as competitors MGM and Caesars faced major acquisition offers.

Price

$101.22 → $107.25

Mkt Cap

$11.1B

P/E

30.7x

▲ 10.3%

30D

▲ 1.2%

▼ 19.2%

HUMHumana Inc.▲ 5.8%

Humana's 5.8% surge likely reflects market relief that competitor UnitedHealth's prior authorization cuts reduce regulatory pressure on the entire healthcare insurance sector.

Price

$305.42 → $323.23

Mkt Cap

$38.8B

P/E

34.5x

▲ 5.0%

30D

▲ 38.4%

▲ 33.4%

PAYXPaychex, Inc.▲ 5.8%

Paychex surged on investor enthusiasm over its new WISE AI platform launch, which enhances HR and payroll automation capabilities amid strong SaaS and PEO growth expectations.

Price

$96.98 → $102.58

Mkt Cap

$36.8B

P/E

22.7x

▲ 5.8%

30D

▲ 10.3%

▼ 7.2%

ADPAutomatic Data Processing, Inc.▲ 5.7%

ADP rose 5.7% as investors anticipate strong May employment data, bolstering payroll processing demand and validating labor market strength.

Price

$221.84 → $234.40

Mkt Cap

$93.8B

P/E

21.9x

▲ 4.0%

30D

▲ 9.4%

▼ 8.4%

LVSLas Vegas Sands Corp.▲ 5.6%

LVS rallied as strong Q1 earnings (25.3% revenue growth) and MGM's $18 billion takeover bid signal sector recovery and consolidation opportunity.

Price

$50.57 → $53.42

Mkt Cap

$35.4B

P/E

19.7x

▲ 8.1%

30D

▼ 0.7%

▼ 23.1%

BGBunge Global SA▲ 5.6%

BG was added to Zacks Rank #1 Strong Buy list and recognized as a top AgriTech play benefiting from rising 2026 demand.

Price

$123.30 → $130.15

Mkt Cap

$25.2B

P/E

34.2x

▲ 7.8%

30D

▲ 4.4%

▲ 35.0%

ACNAccenture plc▲ 5.5%

Accenture's 5.5% gain likely reflects investor enthusiasm over its recent AI partnerships with Amadeus and Mitsubishi Chemical, plus Copilot 365 adoption scaling.

Price

$187.07 → $197.27

Mkt Cap

$121.4B

P/E

16.2x

▲ 10.1%

30D

▲ 9.7%

▼ 23.4%

UBERUber Technologies, Inc.▲ 5.4%

Uber's 5.4% gain likely reflects investor optimism about its Munich robotaxi partnership with Autobrains using Nvidia's Level 4 autonomous driving technology.

Price

$70.40 → $74.18

Mkt Cap

$151.3B

P/E

18.4x

▲ 3.3%

30D

▼ 1.2%

▼ 14.3%

VRSKVerisk Analytics, Inc.▲ 5.1%

Investors are reassessing Verisk's valuation after a recent 9.4% weekly rebound, potentially viewing AI concerns as overblown relative to fundamentals.

Price

$174.99 → $183.94

Mkt Cap

$24.1B

P/E

28.1x

▲ 7.5%

30D

▲ 1.6%

▼ 17.9%

All Reports

Updated 12:32 PM · Jun 1, 2026