Morning Preview: August 04, 2026

Early Look

Tuesday, August 4, 2026

U.S. futures are looking higher as Nasdaq futures rise over 0.7% to 29,000 and S&P futures look modestly higher, trying to trade to a fresh all-time high ahead of another busy day of earnings. The gains followed Monday’s coordinated rally driven by solid economic growth signals, lower inflation expectations, and declining oil prices. Treasury yields slipped from 52-week highs Monday but are edging higher this morning along with oil. The S&P 500 (SPX) came within a few points of a record all-time closing high and finished about 20-points away from its all-time intraday highs while the Dow Jones Industrial Average closes +690 points higher and officially posts its highest close on record. All-time highs are officially back, now tech tries to catch up and started with a good rally on Monday as the Nasdaq jumped over 2%. In Asian markets, The Nikkei Index rose 202 points to 63,957, the Shanghai Index rose 12 points to 3,822, and the Hang Seng Index declined -156 points to 25,852. The Kospi index rose 1.35% to end at 1,000. In Europe, the German DAX is up 93 points to 26,094, while the FTSE 100 is up 25 points to 10,883. Among major earnings this morning are Dow component Caterpillar (CAT), Merck (MRK), Pfizer (PFE) among many others.

• The Dow Jones Industrial Average rose 693.38 points, or 1.32%, to 53,178.41
• The Nasdaq Composite surged 540.04 points, or 2.13%, to 25,913.90
• The Russell 2000 Index advanced 50.59 points, or 1.73% to 2,981.93

• 8:30 AM ET                  International trade for June…est. (-$73.0B)
• 8:30 AM ET                  Advance Goods trade Balance for June…est. prior (-$101.5B)
• 8:55 AM ET                  Johnson/Redbook Weekly Sales
• 10:00 AM ET                Factory Orders M/M for June…est. +0.2%
• 10:00 AM ET                JOLTs Job Openings for June…est. 7.4M (prior 7.594M)
• 4:30 PM ET API Weekly Inventory Data

• Earnings After the Close: ACAD AFG AGNT AMD AMGN AMWL ANET ANGI ANGX APPS ARDT ARWR ATEC BBBY BIO BKNG BL BV BXC BZFD CACC CALY CC CE CX COMP CPNG CRBG CRCT CRNX CXDO DEI DOC DVA DVN ECG EGHT EHTH EMR EQH EVTC FBIN FLYW FRSH FTK GILD GLAD GTE GXO HL HLMN HNGE IFF INTA IOSP IPAR IPI J KTOS LCID LDI LMAT LMB LRN LSCC LUMN MAC MAT MCY MOS MQ MTCH NGL OGS OPEN ORLA PARR PCRX PCTY PINS PLUS PRCT PRIM PRI PSKY QLYS RARE RBA RIGL RRR RVLV RYAM SGHC SKT SKY SPCX SU SUPN SWIM TALO TBI TDC TOST TRVG TVTX UPST USNA VOYA VSAT WK WTRG WYNN ZETA

• Dorman Products (DORM) Q2 adj EPS $3.08 vs est $1.91; revenue $544.6Mm vs est $582.2Mm; FY26 adj EPS outlook $8.50–$8.80 vs est $8.28 with net sales growth +3%–5% YoY vs est +7.48%, as Dorman absorbs tariff headwinds while driving mix toward higher-value replacement Parts.
• Kimberly-Clark (KMB) cut its annual sales and profit forecasts citing a significant hit to Q2 sales in China that stemmed from false claims about the quality of some of its diaper brands; Q2 adj EPS $2.12 vs. est. $2.01 and sales $4.189B vs. est. $4.22B; Volumes in North American business slipped 0.3% in Q2.
• Nike (NKE) was downgraded to underweight from Neutral at JP Morgan and cut tgt to $40 from $47 saying Nike’s “Win Now” decisions made in 2026 will hurt profits into the fiscal 2028.
• PVH Corp. (PVH) was downgraded to Underweight at JP Morgan as models Q226 EPS of $3.08 (vs. Street $3.07 & management’s $3.00 to $3.10 guidance range) based on reported revenues -3.0% YoY (vs. Street-3.4% & management’s -3-4% guide).
• TKO Group Holding (TKO) Q2 EPS $1.34 vs. consensus $1.32; Q2 revs rose 18% y/y to $1.547B vs. est. $1.534B; raises FY26 revenue to $5.775B-$5.825B (vs. est. $5.77B) and also raises FY26 adjusted EBITDA view to $2.275B-$2.305B.
• Whirlpool Corp. (WHR) Q2 adj EPS ($0.21) vs est ($0.05); revenue $3.52B vs est $3.55B; FY revenue outlook ~$15.0B (unchanged) vs est $14.9B; sees FY26 adj EPS (ongoing) $2.50–$3.00 vs est $2.03, reflecting pricing and cost actions to restore margins and suspended dividend.

• Ameresco (AMRC) Q2 EPS $0.20 vs. est. $0.16 and revs rose 9% y/y to $515.5M vs. consensus $460.72M; raised 2026 non-GAAP EPS guidance and reported record $1.8B new project awards; sees 2026 Non-GAAP EPS guidance to $1.15-$1.35; said expects Q4 activity to be higher due to normal seasonal cadence.
• BP Plc (BP) Q2 profit more than doubled to $5.73B, beating forecasts thanks to higher energy prices, trading and refining margins; Q2 underlying replacement cost profit, its version of net income, beat expectations of $5.11B and rose from $2.35B y/y; said it would increase its dividend by 4% to 8.66 cents per ordinary share; expects 2026 capital expenditure of $13.5 billion to $14 billion.
• BWX Technologies (BWXT) Q2 revs rose 18% y/y to $901.6M vs. est. $902.6M; Q2 EPS $1.07 vs. est. $1.04; Q2 Net income rose 14% y/y to $89.1M and adj EBITDA +7% y/y to $155.5M; 2026 revenue raised to approximately $3.8B from more than $3.75B; boosts FY adj EBITDA to $662M–$672M from $650M–$665M and EPS view to $4.70–$4.80 from $4.60–$4.75.
• Diamondback Energy (FANG) Q2 adj EPS $6.28 tops consensus $5.98; Q2 revs $5.56B vs. est. $4.95B; Q2 average oil production of 525 MBO/d; raises FY26 net production view to 1,000 MBOE/d from 972; guides FY26 capital expenditures $3.9B; sees Q3 oil production 517-527 MBO/D; Q2 realized price for each barrel of oil produced came in at $94.33, compared with $62.34 y/y.
• Oneok (OKE) Q2 EPS $1.53 vs est $1.46; adj EBITDA $2.12B vs est $2.099B, +7% YoY; FY EPS midpoint raised to $5.68 vs est $5.70 and FY adj EBITDA guide $8.2B–$8.5B vs est $8.364B; FY26 CAPEX guide held at $2.7B–$3.2B as Oneok leans into multi-commodity NGL and gas growth for Ai-linked demand.
• Williams Inc. (WMB) Q2 adj EPS $0.50 vs est $0.51; adj EBITDA $1.92B vs est $1.93B; operating cash flow $1.38B; FY adj EBITDA guide $8.3B–$8.5B vs est $8.32B; FY growth CAPEX $7.3B–$7.9B; strategic Momentum Midstream deal at $5.5B (~8.5x 2027 EBITDA), expected accretive to AFFO and EPS and further connecting Haynesville volumes into Gulf Coast LNG and power demand.

• Banner (BANR) announced that its Board of Directors has authorized the repurchase of up to 1.7M shares of the Company’s common stock, which is approximately 5% of its issued and outstanding common stock.
• Better Home & Finance (BETR) announced that the Company’s Board of Directors has appointed Board member, Daniel Lewis, Interim CEO, effective immediately. Mr. Lewis succeeds Founder Vishal Garg, who has mutually agreed with the Board to transition from his role as CEO. Mr. Garg will continue to serve on the Board.
• Paymentus Holdings (PAY) Q2 adj EPS $0.25 vs est $0.19; revenue $360.7Mm vs est $345.4Mm, +28.8% YoY on higher biller count and transaction volume; Q3 revenue guide $353Mm–$363Mm vs est $356.7Mm; FY26 revenue guide lifted to $1.44B–$1.46B vs est $1.434B and adj EBITDA guide to $175Mm–$185Mm vs est $169.55Mm.
• Vornado Realty (VNO) Q2 adj FFO/SHR $0.67 vs est $0.0.57; revenue $462.2Mm vs est $446.45Mm, with New York Office fundamentals stabilizing and cash rents gradually stepping up across the portfolio.

• CRISPER Therapeutics (CRSP) Q2 EPS ($0.94) vs est ($1.20); revenue $10.2Mm vs est $7.45Mm; CASGEVY revenue $76Mm, +151% YoY on expanding SCD and TDT indications and growing authorized treatment center throughput; net loss narrows to $91.2Mm as collaboration expense falls and CASGEVY share of economics ramps.
• GeneDx Holding (WGS) Q2 adj EPS $0.01 vs est ($0.19); revenue $114.4Mm vs est $111.0Mm, +11% YoY; adj gross margin 70%; reaffirmed FY26 revenue guidance $475Mm–$490Mm vs est $478.4Mm, implying ≥30% exome/genome volume growth and ≥20% exome/genome revenue growth with ~70% adj gross margin and positive adj net Income.
• Inspire Medical (INSP) Q2 adj EPS $0.14 vs. est. loss (-$0.25); Q2 revs $200.6M vs. est. $194.61M; announces Project Horizon growth plan to generate $30M annualized investment capacity; expects $20M-$25M in Pre-Tax Restructuring charges; lowers FY2026 GAAP EPS guidance from $0.07-$0.62 to $(0.42)-$0.17 vs $0.90 analyst estimate.
• Jazz Pharmaceuticals (JAZZ) Q2 adj EPS $5.71 vs. est. $6.18; Q2 revs rose 16% y/y to $1.2B vs. est. $1.11B; Xywav revenue rose 13% to $471.2M; Epidiolex +16% to $292.1M; Zepzelca revenue increased 42% to $105.8M and Modeyso delivered $48.2M in revenue; raises 2026 revenue guidance view to $4.6B-$4.75 from prior view $4.25B-$4.50B (est. $4.51B).
• Pfizer (PFE) Q2 adj EPS $0.77 vs. est. $0.68; Q2 revs $15B vs. est. $14.39B; says now expect an additional $1 billion in savings from our ongoing cost realignment program; aim delivering risk-adjusted high single-digit revenue CAGR from year-end 2028 through year-end 2033- prepared remarks; Raises FY26 revenue view to $60.5B-$62.5B from $59.5B-$62.5B and backs year EPS outlook.
• Vertex Pharmaceuticals (VRTX) Q2 adj EPS $4.73 vs est $4.73; revenue $3.33B vs est $3.23B; FY revenue outlook $13.1B–$13.2B vs est $13.07B; continued growth in Cf plus ≥$0.5B non-CF product revenue (CasGEVy, Journavx) baked into FY26 guide.

• Palantir Technologies (PLTR) Q2 revs $1.935B vs. est. $1.8B; Q2 net income $1.065B and sees FY adjusted income from operations $4.88B-$4,89B; guides FY revenue $8.15B-$8.158B vs. est. $7.69B and above the prior forecast of $7.65B-$7.66B; guides Q3 revs $2.16B-$2.164B vs. est. $2B.
• Allison Transmission (ALSN) Q2 adj EPS $2.73 vs. est. 42.59; Q2 revs rose 92% y/y to $1.57B vs. est. $1.51B on Allison Transmission unit growth; raises FY26 revenue view to $5.8B-$5.6B from $5.58B-$5.93B (est. $5.81B) and boosts FY26 adj EBITDA view to $1.465B-$13575B from $1.365B-$1.515B.
• Cabot Corp. (CBT) Q3 adj EPS $1.67 vs. est. $1.66; tightens FY EPS view to $6.15-$6.45 from prior $6.00-$6.50 vs. est. $6.34.
• Dupont (DD) Q2 adj EPS $1.88 vs. est. $1.76; Q2 revs $1.82B vs. est. %$1.81B; Q1 operating EBITDA $448M vs. est. $432.2M; and operating EBITDA Margin 24.6%; raises FY26 EPS view to $7.17 to $7.32, up from a prior forecast of $7.02 to $7.16 and sales to $71.6B-$7.19B from prior $7.16B-$7.22B.
• Powell industries (POWL) Q3 EPS $1.42 vs est $1.49; revenue $311.7Mm vs est $315.2Mm; gross margin 30.6% on gross profit $95.3Mm; orders $934Mm supporting a still-elevated backlog and multi-year project visibility.
• Sterling Construction (STRL) Q2 adj EPS $5.80 vs. est. $5.18; Q2 revs $1.17B vs. est. $1.02B; said Q2 adj net income increasing 118% to deliver adjusted diluted EPS of $5.80. Revenue grew 90%, including organic growth of approximately 50%, and strong adjusted EBITDA margins of 22%; sees 2026 adjusted EPS $19.70-$20.30, vs. consensus $19.10.
• V2X Inc. (VVX) Q2 adj EPS $1.64 vs. est. $1.44; Q2 revs rose 17% y/y to $1.26B vs. est $1.21B; boosts 2026 adj EPS view to $5.90-$6.30 from $5.75-$6.15 (est. $6.07) and increased its 2026 revenue view to $4.875B-$5.025B from $4.825B-$4.975B (est. $4.93B); raises FY adj Ebitda outlook to $347.5M-$362.5M from prior $345M-$360M.
• Voyager Technologies (VOYG) Q2 adj EPS loss (-$0.70) vs. est. loss (-$0.91); Q2 revs rose to $52.75M vs. est. $48,23M; posted “record” quarterly revenue of $52.7M, increasing 51% sequentially from the first quarter, and “record” quarterly bookings of $113.0M, resulting in a 2.1x Book-to-Bill ratio; raises FY26 revenue view to $275M-$305M,vs.  consensus $240.81M.

• Hut 8 Mining (HUT) Q2 GAAP EPS of (-$1.27) misses consensus by $0.63 on revs of $74.93M (+81.4% Y/Y) misses by $5.04M; Q2 adjusted EBITDA for the three months ended June 30, 2026, was $10.4 million, compared to $4.2 million in the prior-year period.
• Ichor Holdings (ICHR) Q2 revs rose 24% y/y to $294.78M vs. est. $300.2M; Q2 adj EPS $0.03 vs. est. $0.31; guides Q3 adjusted EPS $0.40-$0.50 vs. est. $0.41 and revs $315M-$345M vs. est. $314.52M; said expects continued sequential growth in revenue, gross margin and EPS for 2026.
• On Semiconductor (ON) Q2 adj EPS $0.74 vs est $0.71; revenue $1.60B vs est $1.588B, +9% YoY; adj gross margin 39.3% and adj operating margin 20.8%; Q3 revenue guide $1.65B–$1.75B vs est $1.666B and adj EPS guide $0.81–$0.93 vs est $0.83; Ai data center now fastest-growing segment, with management guiding 2026 Ai DC revenue to more than double.
• SBA Communications (SBAC) Q2 adj FFO/SHR $3.05 vs est $2.98; EPS $1.87; revenue $715.3Mm vs est $706Mm, +2.3% YoY; adj EBITDA $483.8Mm vs est $744.95Mm; site leasing revenue $663.9Mm and site development revenue $51.4Mm; FY revenue outlook $2.84B–$2.89B vs est $2.861B; FY adj FFO/SHR outlook $11.95–$12.40 vs est $12.15; FY EPS outlook $7.41–$7.91.
• Snap Inc.(SNAP) Q2 EPS ($0.10) vs est $0.08; revenue $1.60B vs est $1.54B, mid-teens YoY growth driven by World Cup Ad demand and improvements in measurement and optimization; adj EBITDA $249.6Mm vs est $188.8Mm; free cash flow $120.5Mm; DAUs 493Mm, +5% YoY; Q3 rev guide $1.70B–$1.74B vs est $1.70B; Q3 adj EBITDA guide $300Mm–$350Mm vs est $329.9Mm; FY infrastructure cost view raised to $1.65B–$1.70B with FY adj operating expense view ~$2.75B.
• Spotify (SPOT) Q2 revs rose 14% to EU4.78B missing ests while Q2 operating income came in at €655M, beating estimates of €639.2M, driven by strong revenue growth and lower payroll taxes; forecasts Q3 profit below Wall Street estimates at operating income of €670M, below analysts’ average estimates of €677.8M; Q2 monthly active users forecast of 788M was below estimates of 793.6M.
• Ultra Clean Holding (UCTT) Q2 adj EPS $0.70 vs est $0.53; revenue $644.9Mm vs est $587.7Mm, well above prior $565–$605Mm guide; adj gross margin 16.7%; Q3 revenue guide $700–$750Mm vs est $664.7Mm and adj EPS guide $0.83–$1.03 vs est $0.76, reflecting stronger WFE demand and higher services mix.
• 3D Systems (DDD) Q2 adj EPS ($0.04) vs est ($0.05); revenue $94.6Mm vs est $93.8Mm with adj EBITDA ($0.8Mm) vs est ($2.559Mm) and adj gross margin at 36.7%, as 3D Systems continues to cut operating costs and improve revenue mix while guiding Q3 revenue to $96Mm–$99Mm vs est $93.79Mm.
• Optical makers AAOI, LITE, COHR, GLW, FN all rising notable pre mkt after reports The Trump administration is drafting a ban on new Chinese optical transceivers which is a critical networking component inside AI data centers. The move aims to keep Chinese hardware out of U.S. AI infrastructure before it becomes deeply embedded avoiding another Huawei-style removal effort – Reuters