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Now time for some of today's trending tickers. Another busy day for earnings movers. Here we're watching Merk, Nokia and Texas Instruments. First up, Merk lowering its full-year profit outlook. The drugmaker expecting to lose $200 million to tariffs this year, mostly due to the trade war with China. That charge does not account for President Trump's planned levies on pharmaceuticals. Still, the company topped first quarter expectations, most notably here and of course, one of the keys to this company's performance has been Keytruda. Sales actually grew 4% to $7.2 billion there. So essentially half of their revenue there, of the total worldwide sales, which were $15.5 billion for the company.

Yeah, really interesting to see across the board. Obviously the cancer drug being a boon for them, but their patent expiring in 2028. So could that be a risk moving forward? In terms of analyst reaction here, you've got a couple of different reactions across the street. Canter saying the Keytruda miss was a little bit disappointing here. You also have the likes of BMO Capital Markets saying that Merk's beating on the top and bottom line with relatively muted impacts to tariffs noted the $200 million hit due to existing tariffs is relatively modest in BMO's view, but interesting to see that we are continuing this trend of companies talking about the risks of tariff policy this morning. Next up, Nokia warning of an earnings hit in the second quarter due to tariffs and supply chain disruptions. This coming after the telecommunication equipment maker's first quarter profit came in below expectations, hit by a one-time charge in its mobile networks business. You can see those shares down 6.5% this morning. Interesting to see the degree of that drop here when it comes to Nokia off the back of this earnings result here again, those ADRs really moving off the back of this news this morning. And this coming after, obviously, a slew of potential headwinds for this name amid the tariff uncertainty and concerns about demand as well.

Yeah, as you talk about that earnings hit, two main metrics kind of come to mind. Number one, the net sales. That was down 1% year over year. And then additionally, the gross margin, that was down 820 basis points. So about 8.2% is what that would roughly equate to here, year over year and that gross margin move lower that we've seen on a comparable basis. And then thinking about what the company is commenting on and most notably, kind of looking out into the future on saying that their first quarter financial performance saw net sales decline of that 3% that I mentioned, but then additionally looking forward, they've mentioned that they are not immune to the rapidly evolving global trade landscape. However, based on early customer feedback, they believe their markets should prove to be relatively resilient. We'll see how that resiliency plays out for Nokia shares.

And Texas Instruments issuing a better than expected forecast for the current quarter, boosted by demand for industrial and automotive components. The semiconductor manufacturer also topping first quarter expectations. Company leaders there say that there is high uncertainty due to tariffs, but they don't see near-term effect on revenue here. Taking a look at shares right now holding onto gains of about 9%.

Yeah, what's interesting is what Bernstein notes that there's concern that this is about a pull forward dynamic. Is there more spend happening ahead of any potential impact of export controls that could certainly hit a name like this? And have hit the stock by the way, you're looking at shares down 18% here year-to-date. TD Cowen saying against a wall of worry on tariffs, they were still able to put out a beat and raise. The fundamentals are improving, customer inventory is low, but all segments are up on a quarter-over-quarter basis, but still, the backdrop remaining uncertain. That refrain going to be a familiar one by the end of this earnings cycle. You can scan the QR code below to track the best and worst performing stocks of the session with Yahoo Finances trending tickers page.