Early Look

Tuesday, August 11, 2026

After a lackluster trading day on Monday saw major averages pull back slightly from record highs reached late last week, futures look listless as Wall Street eagerly awaits key July consumer prices (CPI) inflation data Wednesday morning (and PPI on Thursday), which could be key in determining the U.S. Federal Reserve's interest rate path. The consumer price index (CPI) is forecast to rise 0.1% in July from a 0.4% fall in June, while the year-over-year figure is expected at 3.4% from 3.5% the previous month, according to a Reuters poll. The core CPI forecast was for a 0.1% rise while the year-on-year number was seen at 2.5%. The headline U.S. producer price index is seen rising 0.2% in July after a 0.3% decline. Year-over-year, PPI is expected to rise 4.9% after advancing 5.5% in June. While stock markets are holding steady, inflationary concerns are rising as Brent crude extends its latest rally approaching $90 per barrel while the benchmark 10-year Treasury yield tops 4.72% (after hitting lows around 4.61% Friday morning after the weak jobs report). Treasury yields and the dollar moved higher as rising oil prices fueled concerns over stalled U.S.-Iran negotiations on the Strait of Hormuz. Markets are increasing bets on a Fed rate hike in September. In Asian markets, The Nikkei Index was closed, the Shanghai Index fell -32 points to 3,934, and the Hang Seng Index dropped -284 points to 25,652. In Europe, the German DAX is down -12 points to 26,311, while the FTSE 100 is down a few points to 10,858.

• The Dow Jones Industrial Average fell -60.95 points, or 0.59%, to 53,975.98
• The Nasdaq Composite dropped -85.26 points, or 0.32%, to 26,605.36
• The Russell 2000 Index declined -17.10 points, or 0.56% to 3,017.40

• 7:45 AM ET ICSC Weekly Retail Sales
• 8:55 AM ET                   Johnson/Redbook Weekly Sales
• 10:00 AM ET                 Existing Home Sales for July
• 1:00 PM ET US Treasury to sell $58B in 3-year notes
• 4:30 PM ET API Weekly Inventory Data

• Earnings After the Close:  AGRO AQST ATRO BGS BORR BRCB CAVA CDXS CINT CRWV DDI DNN EROC EVLV FLY FNV GRWG HRB HYLN IMOS LITE MLYS NCMI NN OWLT PXLW QNT QUIK SINT SMCI STXS TSHA WPRT WRAP

• DA Davidson 2026 Smallcap Conference, 8/10-8/11 (virtual)
• DA Davidson 16th Annual Western Bank Summit, 8/11-8/12 (virtual)
• Keybanc Technology Leadership Forum, 8/9-8/11, in Park City
• Needham 11th Annual MedTech & Diagnostics 1x1 Conference 8/10-8/11 (virtual)
• Oppenheimer 29th Annual Technology, Internet & Communications Conference, 8/11-8/13
• Stifel Biotech Summer Summit, 8/10-8/12, in Newport, RI
• TD Cowen 12th Annual Communications Infrastructure Summit, 8/10-8/11, in Boulder, CO

• Aramark (ARMK) Q3 adj EPS $0.52 vs est. $0.48; Q3 revenue $5.06B vs. consensus $4.94B; backs FY26 adjusted EPS growth 20%-25% and sees FY26 organic revenue growth 9%-10%
• On Holding (ONON) shares fall after they miss quarterly net sales estimate; Q2 EPS CHF 0.35, vs consensus CHF 0.34 but reports of CHF 850.3M, missed the consensus CHF 879.57M; said sales growth in biggest market Americas slows down to 13%; raised its full-year gross profit margin outlook to at least 65%, from its previous expectation of 64.5%; guides FY sales in range of 3.47B- 3.56B francs from its prior view of 3.51B francs.

• Archer Aviation (ACHR) Q2 adj EPS loss (-$177.1M) vs. est. loss (-$187.6M); Q2 net loss widens to (-$45.5M); Q2 revs $5M vs. est. $1.96Ml guides Q3 adj Ebitda (-$200M-$170M); Cash, cash equivalents and short-term investments fell to $1.56B, down $215.3M.
• AST SpaceMobile (ASTS) Q2 rev $31.5M vs. est. $34.5M; Q2 EPS loss (-$0.77); posted Q2 operating expenses $329.1M; guides FY revenue outlook $150M-$200M vs. est. $155.7M; said following the recent orbital launch of BlueBirds 11, 12, and 13, our space-based cellular broadband network has now grown to 13 spacecraft in orbit, each the largest ever in low Earth orbit, with approximately 20,000 square feet of combined aperture hardware deployed
• Babcock & Wilcox (BW) signed an agreement with Siemens Energy to begin work on 20 steam turbine generator sets, each providing 50 MW, totaling 1 GW of generating capacity.
• Curtiss-Wright Corporation (CW) expands 2026 share repurchase program by $100M to $160M annually.
• Plug Power (PLUG) Q2 adj. EPS ($0.07) vs est (0.08); revenue $178.3Mm vs. est. $169.1Mm, beat; break-even gross margin; operating loss $64.1Mm; net cash usage $61Mm; FY revenue guidance raised to +15-16%, says on track to achieve positive EBITDAS in Q4
• Rocket labs (RKLB) Q2 EPS loss (-$0.08) vs. est. loss (-$0.05); Q2 revs rose 62% y/y to $234.07M vs. est. $230.94M, $34M higher than last quarter's record - driven by surging demand across all areas of our business. Q2 2026 saw our backlog grow to $2.36B; guides Q3 revs $250M-$265M vs. est. $236M; shares fell after the company appeared to push back the timeline for the first flight of its Neutron rocket on Monday, as it now aims to get the vehicle to the launch pad in the fourth quarter rather than launching it then.
• USA Rare Earth (USAR) Q2 EPS ($0.15) vs. est. ($0.11), miss; revenue $5.82Mm vs. est. $8.04Mm, miss; operating loss $46.3Mm; announced intent to acquire Serra Verde, described as the only scaled producer of all four magnetic rare earths outside Asia.

• MarketAxess (MKTX) downgraded to Market Perform from Outperform at Keefe Bruyette.
• Simon Property Group (SPG) Q2 real estate FFO/share $3.29 vs est $3.22, +7.9% YoY; reported FFO/share $3.12; revenue $1.79B vs. est. $1.612B, beat; Q2 dividend $1.04688/share; FY EPS guidance $6.47-$7.47 vs est $6.73; FY real estate FFO/share guidance $13.20-$13.30 vs est $13.11.

• Biohaven (BHVN) Q2 EPS loss (-$0.91) vs. est. loss (-$0.76); Q2 GAAP net loss of (-$137.1M); Q2 R&D expense fell 45.34% to $100.81M, attributed to lower direct program and preclinical spend following a 4Q 2025 reprioritization; expects topline results from Phase 2/3 RISE3 epilepsy trial in 2H 2026; Biohaven plans to initiate pivotal Phase 3 study for BHV-1400 in IgAN in 2H 2026.
• BridgeBio Pharma (BBIO) Q2 EPS loss (-$0.78) vs. est. loss (-$0.59); Q2 revs $243.68M vs. est. $218.75M while posted a narrower net loss per share compared to Q2 last year; Revenue growth was mainly driven by higher U.S. sales of Attruby.
• Hims & Hers (HIMS) shares fall; Q2 EPS ($0.37) vs est ($0.01); revenue $753.2Mm vs. est. $699.9Mm, beat; Q3 revenue guidance $880Mm-$900Mm vs est $793.07Mm; Q3 adj. EBITDA guidance $75Mm-$95Mm vs est $93.49Mm; FY revenue guidance $3.1B-$3.3B vs. est. $2.928B; FY adj. EBITDA guidance $275Mm-$325Mm vs. est. $296.2Mm; 2030 revenue target at least $6.5B and adj. EBITDA target at least $1.3B.
• Harrow Inc. (HROW) Q2 EPS ($0.46) vs est ($0.18); revenue $70.7Mm vs. est. $70.3Mm, +11% YoY; gross margin 71%.

• Everpure (P) announces Design win and supply agreement with second top five hyperscaler; said expects design win to contribute to revenue starting in FY2028. Citigroup upgraded Everpure to Buy from Neutral with a price target of $118, up from $90.
• iHeart Radio (IHRT) Q2 revenue $977Mm vs. est. $970.2Mm; adj. EBITDA $152Mm vs. est. $151.2Mm; free cash flow $46Mm; Q3 adj. EBITDA guidance $180Mm-$220Mm vs. est. $249.7Mm.
• Quantum Computing (QUBT) Q2 EPS ($0.05) vs. est. ($0.04), miss; revenue $5.6Mm vs. est. $5.15Mm, up from $0.1Mm YoY; Photonics product sales drove revenue; operating loss $23.0Mm; operating expenses $21.8Mm.
• Rapid7 Inc. (RPD) Q2 adj. EPS $0.44 vs. est. $0.35, beat; revenue $210.9Mm vs. est. $208.2Mm, +1% YoY; gross profit $145.3Mm; Q3 revenue guidance $208Mm-$210Mm vs est $210.49Mm; Q3 adj. EPS guidance $0.44-$0.47 vs est $0.42.
• Riot Platforms (RIOT) Q2 revenue $174.2Mm vs. est. $152.1Mm, +14% YoY; Bitcoin mining revenue $113.7Mm; Data Center revenue $23.2Mm; Engineering revenue $37.3Mm; produced 1,587 Bitcoin; average cost to mine Bitcoin $49,912; liquid assets exceeded $1.2B, including $548.9Mm cash and 11,380 Bitcoin; executes 20-year, 191 mw data center lease with Frontier Ai lab for $9.10B revenue and says data center lease extensions could increase total contract value to $16.10B. Bloomberg reported Anthropic PBC has struck a $9.1 billion deal with Riot Platforms Inc., a Bitcoin mining company that recently began selling AI data center capacity.
• Sea Limited (SE) Q2 revenue $7.79B, +48.1% y/y vs. est. $7.06B; Q2 gross profit $3.55B, +47.3% y/y, net income $458.1M, +10.6% y/y and adj. EBITDA $917.2M, +10.6% y/y; said expects Shopee to reach $1B in Adj. EBITDA for FY2026; Q2 Shopee GMV rose 28.4% y/y to $38.3B, gross orders increased 27.5% to 4.2B, and revenue climbed 48.2% to $5.6B; core Shopee marketplace revenue increased 65.6% to $4.3B, highlighting stronger monetization alongside GMV growth.
• Taiwan Semi (TSM) and Sony Group (SONY) said they will form a $4.69B joint venture to develop and make next-generation image sensors in southern Japan, with volume production expected to start in 2029. Sony will be the controlling shareholder and invest 465 billion yen ($2.92 billion), while TSMC will invest 282 billion yen, the companies said in a joint statement.

Mid-Morning Look

Tuesday, August 11, 2026

U.S. stocks doing a whole lot of nothing to start the day, similar trading action to Monday where Wall Street content keeping major averages not far off all-time highs hit last week for the S&P 500, Dow Jones Industrials and Russell 2000 (which the Nasdaq is about 2% from ATH) ahead of key inflation data tomorrow morning. The dominant macro tone is risk-on with an inflationary undertow as oil prices jumped overnight and Treasury yields have surged since their Friday morning lows post weak jobs data with the 10-year back above 4.7% overnight (but now below) and the 30-yr back near 20 year highs. Oil prices reversed lower (Brent had been +1.45% at $89 per Barrel) following headlines that Pakistan said on US-Iran tensions that "the situation is moving toward peace" – headlines continue back and forth – but no progress yet. The Nasdaq sits about 2% from its all-time highs, but well above its July lows, which saw the tech-heavy index fall almost 10% from its last record closing high. A strong showing of corporate earnings in the current quarter across several sectors has boosted U.S. stocks to new peaks, with evidence of high AI-related spending showing signs of paying off also easing some jitters. Markets seem in a holding pattern ahead of the CPI and PPI July inflation readings tomorrow and Thursday – stay tuned.

• NFIB Small Business Optimism jumped 2.4 pts to 99.8 (highest since Aug 2025, above 52-yr avg of 98.0). Hiring plans surged +9 pts to net 20%.

• eVTOL sector: JOBY will acquire Resonant Sciences for approximately $500M, adding a Defense technology business with more than $100M in trailing-12-month revenue, ~40% YoY growth and high-teens Adj. EBITDA margins. Resonant will become Joby’s dedicated Defense business. ACHR reported Q2 adj EPS loss (-$177.1M) vs. est. loss (-$187.6M); Q2 net loss widens to (-$45.5M); Q2 revs $5M vs. est. $1.96Ml guides Q3 adj Ebitda (-$200M-$170M).
• Metals & Mining: in aluminum (AA, CENX), prices jumped as Benchmark three-month aluminium on the LME was up 1.7% at $3,373 a metric Ton after hitting $3,384.5, its highest since June 22; Aluminium is up 6% so far in August, having broken above its 200-day moving average last week. Move in prices amid concerns over supply from the Gulf coinciding with Norsk Hydro's announcement of reduced feedstock production at its Brazilian plant.

• BW +20%; shares rise signed an agreement with Siemens Energy to begin work on 20 steam turbine generator sets, each providing 50 MW, totaling 1 GW of generating capacity.
• CAH +7%; shares rise as Q4 adjusted EPS of $2.91 tops the $2.42 estimate on revenue of $63.7B, issuing FY adjusted EPS guidance of $12.40–$12.60 above the $12.00 consensus, while its board approved a $5.0B incremental share repurchase authorization.
• FRMI +22%; after signs first binding 15-year TensorWave lease worth $6.5B for 222MW Ai Data Center, with expansion rights to more than 650MW.
• P +4%; announces Design win and supply agreement with second top five hyperscaler; said expects design win to contribute to revenue starting in FY2028. Citigroup upgraded Everpure to Buy from Neutral with a price target of $118, up from $90.
• PLUG +12%; delivered better-than-expected Q2 results with gross margins reaching near break-even levels along with modestly improved revenue outlook for FY 2026 and reiterated positive Q4 adj. EBITDA target, but unrestricted cash fell to $162MM in Q2.
• RIOT +12%; after better Q2 results with revs +14% y/y to $174.2Mm above the consensus  est. $152.1Mm, and executes 20-year, 191 mw data center lease with Frontier Ai lab for $9.10B revenue and says data center lease extensions could increase total contract value to $16.10B.
• SE +10%; shares jumped after Q2 revenue $7.79B, +48.1% y/y vs. est. $7.06B; Q2 gross profit $3.55B, +47.3% y/y, net income $458.1M, +10.6% y/y and adj. EBITDA $917.2M, +10.6% y/y; Q2 Shopee GMV rose 28.4% y/y to $38.3B, gross orders increased 27.5% to 4.2B.

• APP -5%; was downgraded to Neutral from Buy at Bank America saying risks to AppLovin's articulated 30% y/y long-term revenue growth forecast have increased and innovations in support of 30% growth are also riskier (shares hit 52-week lows – fell -20% last week post earnings).
• ETOR -8%; posted mixed results as Q2 EPS exceeded expectations ($0.68 vs. est. $0.63) while revs and income fell to $1.59B from $2.09B a year ago on the back of an ~30% decline in revenue from crypto assets. Revenue from crypto assets declined to $1.35B from $1.91B.
• HIMS -2%; reported Q2 revenue, subscribers, and EBITDA all exceeding Street expectations, though updated guidance was mixed pressuring shares early; beat in Q2, raised 2026 revenue guidance mostly on the Eucalyptus acquisition and lowered EBITDA guidance by 4%.
• ONON -18%; shares tumbled after earnings results disappointed as Q2 total revenues rising 21.6%-below projections of 24% and 23%-despite direct-to-consumer (DTC) sales performing well, up 34.3%; revised down its 2026 revenue outlook from at least +23% to low 20% growth in c/c.
• OPFI -18%; shares slumped after lowering its total revenue forecast to $600M-$625M from prior view of $650M-$657M and adj net income forecast cut to $115M-$130M from prior $153M-$160M after posting Q2 adj EPS $0.33 missing the $0.45 estimate.
• PRPL -23%; Q2 results were below expectations given ongoing industry softness, while the company lowered its 2026 revenue guidance to $420M-$440M from $465M-$485M (est. $466.9M) given soft Q2 results and the outlook for 2H, though narrowed its adj. EBITDA guidance.
• RKLB -2%; shares fell despite a Q2 revenue beat (rose 62% y/y to $234M vs. est. $230.9M) and raised Q3 revenue guidance of $250M–$265M versus the $236M consensus, after the company pushed the first Neutron rocket launch pad target to Q4 rather than a full launch.
• VG -4%; missed analysts' estimates for Q2 revenue (rose 48% y/y to $4.58B vs. est. $4.66B) and adjusted core profit, as lower LNG prices at its Calcasieu Pass facility and higher operating costs (expenses rose 15.9% to $2.39B and interest expense +58% to $489M) weighed.

Closing Recap

Tuesday, August 11, 2026

US equity futures managed small overnight gains with no major Iran headlines and no market-moving earnings out last night.  Sellers quickly stepped in to push both the S&P and Nasdaq briefly into the red.  By mid-morning, equities were effectively moving sideways with brief stints of gains and losses.  Early breadth favored advancers by 5:3 as small caps outperformed with IWM (+0.34%) versus SPY (-0.04%) and QQQ (-0.09%).  SPY breadth favored advancers by 6:5, while QQQ breadth remained neutral.  Sector performance saw Energy (+1.06%), Industrials (+0.70%) and Utilities (+0.34%) outperforming while Health Care (-0.23%), Real Estate (-0.53%) and Consumer Staples (-0.69%) paced the underperformers with 7 sectors gaining versus 4 declining.

In sentiment today, the Fear & Greed Index registered 63/100 (Greed) versus 59 (Greed) last week, 46 (Neutral) last month and 57 (Greed) at this time last year.  Earnings continue to provide a boost, with 87% of reporting companies thus far having beaten EPS estimates by an average of 14% and average earnings growth of 25% (median growth 14%).  Some big names have yet to report, but that’s a solid showing thus far.

Heading into the final hour of trading today, the day looked to finish lower.  That said, per @schaeffers, every six-day losing streak in the QQQ in their recent study has been followed by a positive three-month return with an average of +7.98%.  Twelve six-day losing streaks followed by twelve three-month positive returns.  The latest losing streak restarted the three-month window on July 29, so perhaps a down day here and there is just a blip in the new uptrend.

All eyes on inflation data tomorrow as the July consumer price index (CPI) is forecast to rise 0.1% in July from a 0.4% fall in June, while the year-over-year figure is expected at 3.4% from 3.5% the previous month, according to a Reuters poll. The core CPI forecast was for a 0.1% rise (vs. prior M/M) while the year-on-year number was seen at 2.5% (vs. prior 2.6%). Then Thursday we get the July headline U.S. producer price index is seen rising 0.2% in July after a 0.3% decline. Year-over-year, PPI is expected to rise 4.9% after advancing 5.5% in June.

• NFIB Small Business Optimism jumped 2.4 pts to 99.8 (highest since Aug 2025, above 52-yr avg of 98.0). Hiring plans surged +9 pts to net 20%.

• WTI crude gained modestly overnight but was quick to reverse as headlines noted comments out of Pakistan indicating the US and Iran situation is moving toward peace.  Both WTI and Brent turned the 1-2% overnight gains into modest declines before another round of headlines soured the mood with commentary indicating the Strait of Hormuz would not be reopened until Iran’s conditions are met.  Uno reversal card played, oil back to gains on the day with the September WTI crude contract eventually settling +$1.07/bbl, or +1.30%, at $83.20.

• Footwear sector: ONON shares tumbled after earnings results disappointed as Q2 total revenues rising 21.6%-below projections of 24% and 23%-despite direct-to-consumer (DTC) sales performing well, up 34.3% while a surprising slowdown in wholesale growth, up only 12.7%, raised concerns about channel management and future sales. ONON has revised down its 2026 revenue outlook from at least +23% to low 20% growth in constant currency.
• Mattress retailers: PRPL Q2 results were below expectations given ongoing industry softness, while the company lowered its 2026 revenue guidance to $420M-$440M from $465M-$485M (est. $466.9M) given soft Q2 results and the outlook for 2H, though narrowed its adj. EBITDA guidance.
• Electronic Retail: BBY was upgraded to Buy from Hold at Truist and raise tgt to $95 from $81 based on positive Q2 Truist Card reads (raising Q2 Dom comp to +2.5%E vs Street/guide of +1%) and its view that the mkt will likely extrapolate Q2 trends/stacks to 2H expectations.
• Auto sector: ACVA posted mixed Q2 results as revenue $213.9Mm missed the est $214.89Mm while adj. EBITDA $21Mm vs. est. $18.9Mm and Q3 adj. EBITDA guidance $21Mm-$24Mm vs est $23.78Mm; shares fell as much as -15% overnight post results but rebounded this morning after Bloomberg reported the co is said to explore sale amid takeover interest.

• Power & Equipment: BW shares rise signed an agreement with Siemens Energy to begin work on 20 steam turbine generator sets, each providing 50 MW, totaling 1 GW of generating capacity. PLUG delivered better-than-expected Q2 results with gross margins reaching near break-even levels along with modestly improved revenue outlook for FY 2026 and reiterated positive Q4 adj. EBITDA target, but unrestricted cash fell to $162MM in Q2.
• Refiner sector: PSX, DINO and KMI have finalized a joint venture agreement and decided to proceed with the proposed $5 billion Western Gateway Pipeline system. Phillips 66 will own 49.9% of the joint venture, Kinder Morgan 35.1% and HF Sinclair 15%, they added.

• FinTech sector: OPFI shares slumped after lowering its total revenue forecast to $600M-$625M from prior view of $650M-$657M and adj net income forecast cut to $115M-$130M from prior $153M-$160M after posting Q2 adj EPS $0.33 missing the $0.45 estimate.
• Insurance sector: ALL was downgraded to Sell at Citigroup as valuation likely to trend lower with ROEs. In addition, headline risk related to homeowners' affordability (as opposed to Auto) could be increasing. ROOT downgraded to Hold from Buy and lower tgt to $58 from $78 saying does not think current environment growth performance invalidates the long term thesis, but it does make the near term setup less attractive.

• BBIO reported Q2 total revenues and Attruby net product revenue both coming in ahead of consensus, while all three near-term NDAs are now filed, in active regulatory review, and the first PDUFA date for BBP-418 in LGMD2I/R9 set for November 27, 2026.
• BHVN reported narrower Q2 EPS loss on lower R&D and preclinical spending; said expects topline results from Phase 2/3 RISE3 epilepsy trial in 2H 2026 and plans to initiate pivotal Phase 3 study for BHV-1400 in IgAN in 2H 2026.
• CCCC Q2 revenue rose slightly, beating analyst expectations while Q2 net loss per share was $0.18, better than analyst estimates; said revenue growth driven by new Roche collaboration; expenses declined on lower personnel costs.
• Medical Distributors: CAH shares rise as Q4 adjusted EPS of $2.91 tops the $2.42 estimate on revenue of $63.7B, issuing FY adjusted EPS guidance of $12.40–$12.60 above the $12.00 consensus, while its board approved a $5.0B incremental share repurchase authorization
• Healthcare Services: HIMS reported Q2 revenue, subscribers, and EBITDA all exceeding Street expectations, though updated guidance was mixed pressuring shares early; beat in Q2, raised 2026 revenue guidance mostly on the Eucalyptus acquisition and lowered EBITDA guidance by 4%.
• Cannabis sector: Curaleaf (CURLF) announces intention to launch take-over bid for Aurora Cannabis (ACB) to solidify its position as the global Cannabis industry leader offering values Aurora at US$4.00 per share which includes 0.3463 Curaleaf shares plus US$0.75 cash.
• Medical Equipment: ALC beat and raise as  Q2 adj EPS $0.84/$2.782B tops est. $0.75/$2.769B; raises FY26 EPS growth view to 12%-15% from 10%-13% while affirms FY26 revenue growth view of 5%-8%, saying the outlook assumes aggregated markets grow approximately 3% to 4%.

• Defense: BA was upgraded to Buy from Hold at Argus with a $265 price target saying the company is poised for a meaningful ramp in production amid approval to step-up monthly manufacturing limits and the receipt of long-awaited flight certifications for two airplane models. Argus expects strong order backlogs, solid revenue growth, and margin improvement to continue. PSN awarded $40M Electronic warfare National Security contract with one base year and more option years.
• eVTOL sector: JOBY will acquire Resonant Sciences for approximately $500M, adding a Defense technology business with more than $100M in trailing-12-month revenue, ~40% YoY growth and high-teens Adj. EBITDA margins. Resonant will become Joby’s dedicated Defense business. ACHR reported Q2 adj EPS loss (-$177.1M) vs. est. loss (-$187.6M); Q2 net loss widens to (-$45.5M); Q2 revs $5M vs. est. $1.96Ml guides Q3 adj Ebitda (-$200M-$170M).

• Computer Hardware: Everpure (P) shares rose announces Design win and supply agreement with second top five hyperscaler; said expects design win to contribute to revenue starting in FY2028. Citigroup upgraded Everpure to Buy from Neutral with a price target of $118, up from $90; IBM and Together AI sign $240M multi-year deal for NVIDIA-Powered AI Infrastructure. IBM will deploy a large cluster of NVIDIA HGX B300 systems on IBM Cloud under a $240 million multi-year agreement with Together AI, with availability targeted for Q1 2027.
• Online/Internet: SE shares jumped after Q2 revenue $7.79B, +48.1% y/y vs. est. $7.06B; Q2 gross profit $3.55B, +47.3% y/y, net income $458.1M, +10.6% y/y and adj. EBITDA $917.2M, +10.6% y/y; Q2 Shopee GMV rose 28.4% y/y to $38.3B, gross orders increased 27.5% to 4.2B.

• Security Software: RPD delivered Q2 results ahead of expectations, w/ARR decelerating 1pt Q/Q to -2% Y/Y as NNARR was negative $8.1M while Q3 ARR guidance calls for a $12M Q/Q decline, consistent w/ Q2 guidance reflect continued growth pressures. OKTA tgt raised to $170 from $125 at Oppenheimer saying based on their checks, believe Okta can deliver ~2pts of upside to 2QFY27 revenue guidance midpoint.
• Gaming Software: APP was downgraded to Neutral from Buy at Bank America saying risks to AppLovin's articulated 30% y/y long-term revenue growth forecast have increased and innovations in support of 30% growth are also riskier.
• Quantum compute: QUBT Q2 EPS ($0.05) vs. est. ($0.04), miss; revenue $5.6Mm vs. est. $5.15Mm, up from $0.1Mm YoY; Photonics product sales drove revenue; operating loss $23.0Mm; operating expenses $21.8Mm.

• NVDA is doubling down on its open-source efforts, pouring investment into an ambitious new in-house Ai model that it hopes will drive demand for its hardware—but that could also compete with customers and Partners. Nvidia is aiming for the new model, the biggest of a Family that it is calling Nemotron 4, to be on par in its performance with the best open-source Ai models in the world, according to several people who work on Nemotron – The Information reported.
• TSM and SONY said they will form a $4.69B joint venture to develop and make next-generation image sensors in southern Japan, with volume production expected to start in 2029. Sony will be the controlling shareholder and invest 465B yen ($2.92B), while TSMC will invest 282B yen.
• Semi Equipment sector: Bernstein raises AMAT PT to $675 from $525, LRCX to $385 from $265 and KLAC to $250 from $225 to align with Bernstein's new WFE updates and take target prices up for all three with increasing conviction that the current upcycle in Equipment spending has legs. Bernstein significantly lift its 2026 WFE to $148B (+26.3% YoY) from 141B (+21.4%), 2027 WFE to $204B (+32.6% YoY) from $175B (+18.2%), and 2028 WFE to 259B (+27% YoY) from $198B (+13%), based on outlook on a broad-based increase in investment.

Street Recommendations

Tuesday, August 11, 2026

• UAA Barclays analyst Adrienne Yih downgraded Under Armour (UAA) to Underweight from Equal Weight with an unchanged price target of $5. The firm cites the company's "delayed brand recovery" in a competitive athletic sector for the downgrade. Under Armour also fasces "macro-related consumer malaise," the analyst tells investors in a research note. Barclays prefers retail brands with increased pricing power and sees higher-returning options elsewhere in the group. It believes product and macro pressures are delaying Under Armour's turnaround.
• ASPN Barclays analyst J. David Anderson raised the firm's price target on Aspen Aerogels to $5 from $4 and keeps an Underweight rating on the shares. The company reported a solid 2Q beat and guided Q2 to a return to positive adjusted EBITDA, the analyst tells investors in a research note. However, the firm says Europe carries lower content per vehicle for Aspen Aerogels than the U.S.
• FERG Barclays analyst Matthew Bouley raised the firm's price target on Ferguson to $313 from $297 and keeps an Overweight rating on the shares. The company saw strong non-residential growth in Q2 despite tough compares, showing its "unique positioning" for large capital projects, the analyst tells investors in a research note.
• IDXX Barclays analyst Glen Santangelo lowered the firm's price target on Idexx Laboratories to $710 from $800 and keeps an Overweight rating on the shares. The company reported a strong Q2 report with a modest guidance raise, the analyst tells investors in a research note.
• NTR Barclays lowered the firm's price target on Nutrien to $78 from $81 and keeps an Overweight rating on the shares. Fertilizer companies faced a volatile Q2 but supply/demand trends remain intact, the analyst tells investors in a research note. The firm says that despite disruption, overall demand for fertilizers remains solid, with the exception of phosphate, where sulfur costs are "causing too much pain."
• POST Barclays lowered the firm's price target on Post Holdings to $95 from $106 and keeps an Overweight rating on the shares. While Post has is not immune from the broader food industry volume "malaise, it has uniquely protected" margins and cash flow via asset footprint rationalization moves, the analyst tells investors in a research note.
• SPT Barclays analyst Raimo Lenschow raised the firm's price target on Sprout Social to $12 from $9 and keeps an Overweight rating on the shares. The firm says the company's Q2 results were better than expected, with continued momentum within the over $30,000 annual recurring revenue customer cohort, and stronger profitability. Barclays believes the quarter provided confidence on Sprout's enterprise-focused momentum.
• ACVA Barclays downgraded ACV Auctions to Underweight from Equal Weight with a price target of $6, down from $8.

• AMPY Benchmark lowered the firm's price target on Amplify Energy to $9 from $11 and keeps a Buy rating on the shares. The news was "generally good offshore California" and the company announced a $15M buyback program as capex peaked in the first half of the year, though this is partly offset by widening differentials, the analyst tells investors in a post-earnings note.

• RIOT Bernstein raised the firm's price target on Riot Platforms to $35 from $30 and keeps an Outperform rating on the shares. The firm notes Riot signed a $9.1B 20-year co-location lease with the world's leading frontier lab, reported by Bloomberg to be Anthropic. Riot also signed a non-binding LOI with a single tenant for the1GW Corsicana site. The announcements lay out a clear scale up path to monetizing these assets with strong revenue visibility, Bernstein argues.
• CHRW Bernstein analyst David Vernon lowered the firm's price target on C.H. Robinson to $151 from $153 and keeps a Market Perform rating on the shares. Higher insurance costs in trucking favor asset over non-asset based names, and create favorable tailwinds for intermodal and rail. Within brokerage, standalone brokers sourcing from the shallower end of the capacity pool like C.H. Robinson are most exposed and will see this cost directly and indirectly in tighter gross margins, the firm says.
• FERG Bernstein raised the firm's price target on Ferguson to $325 from $310 and keeps an Outperform rating on the shares. The firm notes the company's results were a solid beat and raise, driving a modest 2.5% move in the stock as Ferguson well outpaced homebuilders that were down low-single digits on the day.

• BCE BofA upgraded BCE to Buy from Underperform with a price target of $27, up from $24.50. The firm, which forecasts adjusted EBITDA growth accelerating from 0.9% in 2026 to 1.6% in 2027 and 3.3% in 2028, ahead of Canadian peers by 2028, says solid execution gives it increased confidence BCE can deliver peer leading growth.
• APP BofA downgraded AppLovin to Neutral from Buy with a price target of $400, down from $430. The risks to AppLovin's articulated 30% year-over-year long-term revenue growth forecast have increased and innovations in support of 30% growth are also more risky, the analyst tells investors. The firm did not reduce its multiple because it thinks AppLovin will not lose significant market share, but it thinks it more likely that AppLovin becomes viewed as a mature adtech platform, barring a new innovation cycle, the analyst added.
• WDS BofA analyst Cameron Needham initiated coverage of Woodside Energy ADRs with a Neutral rating and $23.21 price target and reinstated coverage of Woodside local shares at Neutral with a A$33.40 price target. Scarborough is a high-quality LNG project that reinforces the value of Woodside's LNG infrastructure and underpins visible medium-term volume growth, but growth beyond Scarborough is likely to come at the expense of free cash flow and shareholder returns, the analyst contends.
• VERA BofA lowered the firm's price target on Vera Therapeutics to $66 from $70 and keeps a Buy rating on the shares. The firm updated its model for Q2, decreased its Trutakna revenue forecast for FY26 to $23M from a prior $48M and smooths its operating expense forecasts to reflect anticipated spending, the analyst tells investors.
• HIMS BofA analyst Allen Lutz raised the firm's price target on Hims & Hers to $32 from $30 and keeps a Neutral rating on the shares. Hims reported a "good" second quarter with revenue, subscribers, and EBITDA all exceeding Street expectations, though updated guidance was "mixed," the analyst tells investors.

• TENX Canaccord lowered the firm's price target on Tenax Therapeutics to $4 from $35 and keeps a Buy rating on the shares. The firm noted the company reported that the Phase 3 LEVEL study of TNX-103 in PH-HFpEF failed to hit stat sig for both its primary and key secondary endpoints of improvemen in 6MWD versus placebo and improvement in KCCQ total symptom score respectively.

• RKLB Cantor Fitzgerald raised the firm's price target on Rocket Lab to $122 from $96 and keeps an Overweight rating on the shares. Rocket Lab's Q2 results reinforced its growth outlook, with record revenue and Neutron remaining on track for a Q4 launch, while the planned Iridium acquisition could significantly expand its addressable market and transform the company into a vertically integrated end-to-end space platform, the analyst tells investors in a research note.
• ASTS Cantor Fitzgerald analyst Colin Canfield raised the firm's price target on AST SpaceMobile to $90 from $80 and keeps an Overweight rating on the shares. AST SpaceMobile remains well positioned as management reinforces 2026 guidance, backlog visibility, and government demand, with a potential 2027 revenue floor near $500M, improving satellite cost trends, and expanding U.S. and international opportunities supporting the long-term growth story despite higher near-term free cash flow burn, the analyst tells investors in a research note.

• ALL Citi downgraded Allstate to Sell from Neutral with a price target of $240, up from $226. Citi believes the company is "significantly over-earning today," making it cautious that Allstate's growth can improve from here. The stock's valuation is likely to move lower with Allstate's returns on equity, the analyst tells investors in a research note. The firm thinks the shares reflect Allstate's recent rather than normalized returns on equity.
• LDOS Citi analyst John Godyn raised the firm's price target on Leidos to $161 from $138 and keeps a Buy rating on the shares. The firm attributes the company's Q2 beat to strong performances in its defense and homeland segments. Citi sees a positive risk/reward at current share levels.
• DKNG Citi raised the firm's price target on DraftKings to $32 from $30 and keeps a Buy rating on the shares. While the company's earnings results missed expectations, it offered data suggesting an "unprecedented customer acquisition opportunity" in the predictions category, the analyst tells investors in a research note. Citi believes the prediction markets can add to DraftKings's addressable market.
• HIMS Citi analyst Daniel Grosslight lowered the firm's price target on Hims & Hers to $33 from $35 and keeps a Neutral rating on the shares post the Q2 report. The firm sees heightened execution risk with the company's fiscal year outlook indicating a "hefty" EBITDA lift in Q4.
• RIOT Citi raised the firm's price target on Riot Platforms to $32 from $28 and keeps a Buy rating on the shares. The firm views the Q2 report as "transformational" with Riot signing a $9.1B, 20-year data center lease with a leading "frontier AI lab." Citi believes the company is budling one of the most compelling contracted data center platforms in the sector.
• ZETA Citi raised the firm's price target on Zeta Global to $35 from $26 and keeps a Buy rating on the shares. The firm updated the company's model post the better than expected Q2 report. Athena adoption and momentum from Palantir indicate that Zeta's is entering a new phase of platform expansion, the analyst tells investors in a research note.
• BMEA Citi analyst Yigal Nochomovitz added an "upside 90-day catalyst watch" on Biomea Fusion while keeping a Buy rating on the shares with a $7 price target. The firm expects increased interest in Biomea's oral GLP-1 candidate BMF-650 into the 28-day weight reduction data from the Phase 1 study in Q3. Citi views BMF-650 as an "interesting opportunity."

• OLMA Goldman Sachs lowered the firm's price target on Olema Oncology to $20 from $23 and keeps a Buy rating on the shares. Olema's Q2 update extended its cash runway into 2H28 but delayed OPERA-1 Phase 3 topline data to 1Q27, shifting near-term focus to OP-3136 combination data and camizestrant's SERENA-4 readout, with a potential SERENA-4 miss posing meaningful downside and volatility risk, the analyst tells investors in a research note.

• AXSM Guggenheim raised the firm's price target on Axsome Therapeutics to $275 from $260 and keeps a Buy rating on the shares, citing Axsome's continued strong product performance, a growing pipeline with multiple near-term potential catalysts, and sufficient capital to fund operations into cash flow positivity.

• ROOT Jefferies downgraded Root to Hold from Buy with a price target of $58, down from $78, post the Q2 report. Management said the competitive environment in direct remained challenging as carriers increased marketing spend while lowering prices, the analyst tells investors in a research note. Root indicated that if the current competitive backdrop persists, its 2026 policies in force would likely be relatively flat year-over-year, which compares to expectations of acceleration for the year relative to 2025's 15% growth, contends Jefferies. The firm now sees a less attractive near-term setup for the shares.

• TTWO JPMorgan assumed coverage of Take-Two with an Overweight rating and $310 price target. The firm also added the shares to its analyst Focus List as a growth idea. JPMorgan views Take-Two's fiscal 2027 guidance as conservative into the Grand Theft Auto VI marketing ramp. The analyst is bullish on the shares and believes the GTA VI release presents upside potential across bookings and earnings estimates in fiscal 2027 and 2028.
• ALL JPMorgan analyst Pablo Singzon raised the firm's price target on Allstate to $292 from $282 and keeps an Overweight rating on the shares. The firm updated the company's model post the Q2 report. Allstate's lower personal auto earnings is more than offset by higher earnings in the homeowners' book and higher share buybacks, the analyst tells investors in a research note.

• FIVE Mizuho analyst David Bellinger raised the firm's price target on Five Below to $260 from $220 and keeps an Outperform rating on the shares. The firm upped the company's estimates into the Q2 earnings report. Store Operations provide more conviction in firming fundamental trends for Five Below, the analyst tells investors in a research note.
• DK Mizuho analyst Nitin Kumar raised the firm's price target on Delek US to $66 from $60 and keeps an Outperform rating on the shares. The firm updated models in the independent refiner group post the Q2 reports. The companies delivered arnings beats, benefiting from strong crack spreads, tight refined product inventories, and elevated global refinery downtime, the analyst tells investors in a research note.
• MPC Mizuho raised the firm's price target on Marathon Petroleum to $304 from $284 and keeps a Neutral rating on the shares. The firm updated models in the independent refiner group post the Q2 reports. The companies delivered arnings beats, benefiting from strong crack spreads, tight refined product inventories, and elevated global refinery downtime, the analyst tells investors in a research note.
• PARR Mizuho raised the firm's price target on Par Pacific to $85 from $80 and keeps an Outperform rating on the shares. The firm updated models in the independent refiner group post the Q2 reports. The companies delivered arnings beats, benefiting from strong crack spreads, tight refined product inventories, and elevated global refinery downtime, the analyst tells investors in a research note.
• PSX Mizuho raised the firm's price target on Phillips 66 to $220 from $212 and keeps an Outperform rating on the shares. The firm updated models in the independent refiner group post the Q2 reports. The companies delivered arnings beats, benefiting from strong crack spreads, tight refined product inventories, and elevated global refinery downtime, the analyst tells investors in a research note.

• MNST Morgan Stanley notes that Monster Beverage's stock was off about 6% last week, mainly on Q2 EPS, though the firm views Monster's Q2 results as offering further confirmation of both strong long-term growth potential and significant upside and calls the stock pullback "unfair." The firm, which views the negative stock reaction as "too pessimistic" and offering a "good entry point," has an Overweight rating and $110 price target on Monster shares.
• BBIO Morgan Stanley analyst Sean Laaman lowered the firm's price target on BridgeBio to $97 from $98 and keeps an Overweight rating on the shares. Q2 total revenues and Attruby net product revenue both came in ahead of consensus, while all three near-term NDAs are now filed, the analyst tells investors in a post-earnings note.

• TGT Oppenheimer analyst Rupesh Parikh raised the firm's price target on Target to $170 from $140 and keeps an Outperform rating on the shares as shares moved through its prior price target and ahead of earnings. The firm expects continued traction with turnaround efforts on the Q2 print and believes management could again tweak FY26 guidance higher. Oppenheimer is encouraged by the consistent and better in-store execution across geographies and a clear step-up in newness throughout the store from beauty to food and beverage. The firm says it would take advantage of any profit taking should it materialize on the print.
• CEVA Oppenheimer lowered the firm's price target on Ceva to $38 from $42 and keeps an Outperform rating on the shares. The firm notes Ceva reported a Q2 beat, with revenue of $29.0M versus its $28.7M, driven by three-year-high licensing revenue and a royalty recovery. Management raised 2026 revenue growth guidance to 13%-15% from 12%, and now expects non-GAAP operating income and net income to grow approximately 70% and 50%, respectively.
• AAON Oppenheimer lowered the firm's price target on Aaon to $125 from $145 and keeps an Outperform rating on the shares following quarterly results. While not committing to Q3-to-date sequential BASX orders growth, management tone was upbeat on record BASX pipeline and customer diversification prospects. Oppenheimer sees new customer wins as a potential second half of the year catalyst, and expects its tour of the BASX Memphis plant this week to illustrate capacity-enabled growth runway.

• RPD Piper Sandler analyst Rob Owens raised the firm's price target on Rapid7 to $12 from $8 and keeps a Neutral rating on the shares. The firm notes shares were higher after the company announced a 12% RIF and path back to 20% operating margins exiting the year, alongside a new strategy from CEO Wael Mohamed which centers around the Core Platform. Management acknowledged that improvement resulting from this strategy will take multiple quarters, noting ARR declined $8M in Q2 with Q3 guide calling for another $12M decline. With shares at about eight times 2027 free cash flow, Piper thinks there is clearly upside if management can execute on this strategy. However, with plenty of uncertainty remaining in the story, it remains on the sidelines.
• PRU Piper Sandler analyst Paul Newsome raised the firm's price target on Prudential to $128 from $110 and keeps a Neutral rating on the shares following quarterly results and strategic update. The firm thinks that the strategic update could unlock value for Prudential over time if executed, however it believes it was missing financial data points and guidance that would help investors get comfortable with how the next three years will play out.
• BBIO Piper Sandler raised the firm's price target on BridgeBio to $115 from $111 and keeps an Overweight rating on the shares following quarterly results and business update. The quarter marked a key inflection point for BridgeBio on the regulatory front, with all three pipeline programs now in active regulatory review, and the first PDUFA date for BBP-418 in LGMD2I/R9 set for November 27, 2026. With Priority Review granted for both BBP-418 and encaleret and no advisory committees currently planned for either, Piper sees a clear regulatory path heading into a potential multi-launch period.
• ASTS Piper Sandler lowered the firm's price target on AST SpaceMobile to $98 from $100 and keeps an Overweight rating on the shares following generally in-line Q2 results. AST SpaceMobile traded lower after hours, reflecting the "plain vanilla" nature of Q2 results, the firm says. Overall, there's no change to Piper thesis and AST SpaceMobile remains its favorite stock in the Space sector.
• RIOT Piper Sandler raised the firm's price target on Riot Platforms to $25 from $23 and keeps an Overweight rating on the shares. The firm notes shares were trading up after hours after announcing a deal with a "frontier AI lab" for 191 MW of critical IT at its Rockdale campus. The deal is expected to generate about $9.1B in total contract revenue over the 20-year term with 96 IT MW expected to be delivered in December 2027 and the remaining 95 IT MW in June 2028. Piper remains bullish on Riot's data center conversion given the recent developments.

• RPD Stifel raised the firm's price target on Rapid7 to $13 from $7 and keeps a Hold rating on the shares. Rapid7 "delivered a nice print against a low bar, with all key metrics above subdued guidance," the analyst tells investors.
• SPG Stifel raised the firm's price target on Simon Property to $209 from $194 and keeps a Hold rating on the shares. The firm is raising estimates after the Q2 report, calling core fundamentals "strong."

• OXY Susquehanna raised the firm's price target on Occidental to $70 from $67 and keeps a Positive rating on the shares. The firm updated its model following Q2 results as Production came in above the high end of the guide, EPS beat. 2Q production of 1,433 Mboe/d came in ~23 Mboe/d above the high end of guidance, driven by strong domestic execution.

• INTU TD Cowen raised the firm's price target on Intuit to $328 from $304 and keeps a Hold rating on the shares. The firm said they have a neutral view on the 4Q setup driven by expectation its FY27 revenue guide misses Street, reducing its GBS and TT targets, as key overhangs in shares persist.
• BBIO TD Cowen raised the firm's price target on BridgeBio to $110 from $95 and keeps a Buy rating on the shares. The firm said BridgeBio is at the next stage of the company's lifecycle with a continued strong foundation from Attruby and 3 NDAs submitted for the next 3 potential blockbuster launches.

• AMCR UBS analyst Nathan Reilly initiated coverage of Amcor with a Buy rating and $56 price target. Amcor's EPS growth over the past three years has been "subdued," as destocking and consumer pressure linked to inflation have weighed on volumes, but UBS is confident in Amcor's ability to deliver on its synergy targets, the analyst tells investors in a research note. The firm forecasts a three-year EPS compound annual growth rate of 9%.
• CENX UBS initiated coverage of Century Aluminum with a Buy rating and $60 price target. The firm views Century as "uniquely positioned" to deliver near-term volume growth via capacity restarts into a sustainably higher U.S. pricing environment supported by tariffs, the analyst tells investors. Oklahoma capex and cash flow clarity "could unlock a re-rating," the analyst added.

• AXSM Wells Fargo raised the firm's price target on Axsome Therapeutics to $256 from $255 and keeps an Overweight rating on the shares. The firm notes the uptake of Auvelity in Alzheimer's disease Agitation is still in its infancy, but management commentary is encouraging. Wells thinks Q3 and Q4 will be more important for setting revenue growth expectations. Meanwhile, management remains focused on achieving cash flow positive.
• MCK Wells Fargo raised the firm's price target on McKesson to $933 from $812 and keeps an Equal Weight rating on the shares. The firm is increasing estimates following constructive Q1 results. Wells sees risk/reward balanced when considering Med Surg pressure and spinoff considerations.
• BBIO Wells Fargo analyst Derek Archila raised the firm's price target on BridgeBio to $102 from $98 and keeps an Overweight rating on the shares. The firm likes the setup for the shares with potential tailwinds for Attruby at ESC, likely further cementing stabilizers as first line in TTR-CM, along with three upcoming launches which should drive revenue growth momentum through 2027.
• SNPS Wells Fargo lowered the firm's price target on Synopsys to $450 from $535 and keeps an Equal Weight rating on the shares. With Analyst Day in late September, updated 2026 guide and near-term demand commentary will be key driver of shares, the firm says. While trading at undemanding valuation, Wells thinks Synopsys needs to deliver a beat / raise and increase 2026 guide by at least Q3 beat.

Rating abbreviations…

***OP = Outperform

***SP = Sector Perform

***UP = Underperform

***OW = Overweight

***EW = Equal-weight

***UW = Underweight

***Report powered by thefly.com***

What’s on Tap Weekly Calendar

• Earnings After the Close: AAON ACHR ACM ACVA ALC ALMR ALTI APEI ASTS BBIO BKD BKKT BODI BW BZH CATX CCAP CNNE CODI DH DSP EVC GAIA GETY GPRO GUTS HIMS HNRG HPK HROW IHRT JBR JRVR MG NGS NHI NUS PANL PFLT PLBY PLUG QMCO QUBT RKLB RPAY RPD RUM SPG SRFM SVM TCMD TELA UPWK VREX WBTN

• Keybanc Technology Leadership Forum, 8/9-8/11, in Park City
• Needham 11th Annual MedTech & Diagnostics 1x1 Conference 8/10-8/11 (virtual)
• Stifel Biotech Summer Summit, 8/10-8/12, in Newport, RI
• TD Cowen 12th Annual Communications Infrastructure Summit, 8/10-8/11, in Boulder, CO

• 7:45 AM ET ICSC Weekly Retail Sales
• 8:55 AM ET                   Johnson/Redbook Weekly Sales
• 10:00 AM ET                 Existing Home Sales for July
• 1:00 PM ET US Treasury to sell $58N in 3-year notes
• 4:30 PM ET API Weekly Inventory Data

• Earnings After the Close:  AGRO AQST ATRO BGS BORR BRCB CAVA CDXS CINT CRWV DDI DNN EROC EVLV FLY FNV GRWG HRB HYLN IMOS LITE MLYS NCMI NN OWLT PXLW QNT QUIK SINT SMCI STXS TSHA WPRT WRAP

• DA Davidson 2026 Smallcap Conference, 8/10-8/11 (virtual)
• DA Davidson 16th Annual Western Bank Summit, 8/11-8/12 (virtual)
• Keybanc Technology Leadership Forum, 8/9-8/11, in Park City
• Needham 11th Annual MedTech & Diagnostics 1x1 Conference 8/10-8/11 (virtual)
• Oppenheimer 29th Annual Technology, Internet & Communications Conference, 8/11-8/13
• Stifel Biotech Summer Summit, 8/10-8/12, in Newport, RI
• TD Cowen 12th Annual Communications Infrastructure Summit, 8/10-8/11, in Boulder, CO

• 8:30 AM ET                   Consumer Price Index (CPI) headline M/M for July
• 8:30 AM ET                   Consumer Price Index (CPI) headline Y/Y for July
• 8:30 AM ET CPI Core – Ex: Food & Energy M/M for July
• 8:30 AM ET CPI Core – Ex: Food & Energy Y/Y for July
• 10:30 AM ET                 Weekly EIA Inventory Data
• 11:00 AM ET                 Cleveland Fed CPI for July
• 1:00 PM ET US Treasury to sell $39B in 10-year notes
• 2:00 PM ET                    Federal budget for July

• Earnings After the Close: ALLO AOSL AVIR BSEM BTGO CAE CBRS CEPL COHR CRWS CSCO CURI DERM ENS ENVX EQPT FGI FOSL GO HLIT INFQ INO INVE ITG JACK KE KURA LFTO LVLU MCHX NNE NOA OPRX PAAS RNXT RRGB SCOR SKYH SPCE SPIR STAA STEM STN STUB TBBB USIO WHK

• DA Davidson 16th Annual Western Bank Summit, 8/11-8/12 (virtual)
• Oppenheimer 29th Annual Technology, Internet & Communications Conference, 8/11-8/13
• Stifel Biotech Summer Summit, 8/10-8/12, in Newport, RI

• 8:30 AM ET                   Continuing Claims
• 8:30 AM ET                   Producer Price Index (PPI) headline M/M for July
• 8:30 AM ET                   Producer Price Index (PPI) headline Y/Y for July
• 8:30 AM ET PPI Core – Ex: Food & Energy M/M for July
• 8:30 AM ET PPI Core – Ex: Food & Energy Y/Y for July
• 10:30 AM ET                 Weekly EIA Natural Gas Inventory Data
• 1:00 PM ET US Treasury to sell $22B in 30-year notes

• Earnings After the Close: AEYE AMAT API ARX AVX BEAT CBUS CODX DEFI DLO DMRC ETON FIGR FTLF GEMI GLOB GWH HAWK HIT HTFL IDN JCAP KLC LSF MDXH BKTR PED PETS REKR SPRY VERI VUZI WKHS XOS YSS

• 8:30 AM ET                   Retail Sales Ex: Autos M/m for July
• 10:00 AM ET                 Business Inventories M/M for June
• 10:00 AM ET                 University of Michigan Confidence Aug-prelim
• 10:00 AM ET                 University of Michigan 1-yr and 5-yr inflation expectations
• 1:00 PM ET                    Baker Hughes Weekly rig count data

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