Morning Preview: August 12, 2026

Early Look

Wednesday, August 12, 2026

U.S. futures are bouncing overnight, with technology getting a boost thanks to the AI space as neocloud CoreWeave (CRWV) shares soar 18% to $107 premarket after lifting its annual capital spending forecast (to $35B-$39B from prior $31B-$35B view) and posts upbeat Q2 and raised guidance for 2026 revs and adj operating profit, while sending shares of rival neocloud Nebius Group (NBIS) 9% to $211 ahead of its earnings later this morning. Shares of data center operators, IREN, WULF, CORZ, CIFR, HUT and others are also rising. Optical stocks are also moving on the heels of better results from Lumentum (LITE) as shares +7%. The semi space also getting a lift as SMCI Corp (SMCI) rises 9% on its results and sharply higher guidance. The Nasdaq futures are up +0.7% and S&P futures around +0.3%, but still important data points coming up that can impact broader markets. U.S. stock markets slipped on Tuesday ahead of today’s key July consumer price inflation report where CPI is forecast to rise 0.1% in July from a 0.4% fall in June, while the y/y figure is expected at 3.4% from 3.5% the previous month; 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%). Oil prices closed higher yesterday as the newly appointed secretary of Iran’s Supreme National Security Council said the Strait of Hormuz will remain closed as long as the U.S. does not change its behavior and accept Iran’s conditions to end the war. In Asian markets, The Nikkei Index rose 553 points to 67,524, the Shanghai Index gained 12 points to 3,946, and the Hang Seng Index falls -212 points to 25,440. In Europe, the German DAX is up 128 points to 26,519, while the FTSE 100 is up 5 points to 10,849. The tech trade is strong overnight, but will the inflation report cool things off? Or heat things up?

• The Dow Jones Industrial Average slid -184.01 points, or 0.34%, to 53,791.97
• The Nasdaq Composite slumped -159.91 points, or 0.60%, to 26,445.45
• The Russell 2000 Index advanced 9.74 points, or 0.32% to 3,027.14

• 8:30 AM ET                  Consumer Price Index (CPI) headline M/M for July…est. +0.1% (prior -0.4%)
• 8:30 AM ET                  Consumer Price Index (CPI) headline Y/Y for July…est. +3.4% (prior +3.5%)
• 8:30 AM ET CPI Core – Ex: Food & Energy M/M for July…est. est. +0.2% (prior 0%)
• 8:30 AM ET CPI Core – Ex: Food & Energy Y/Y for July…est. +2.5% (prior +2.6%)
• 10:30 AM ET                Weekly EIA Inventory Data
• 11:00 AM ET                Cleveland Fed CPI for July…prior
• 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

• CAVA Group (CAVA) Q2 EPS $0.19 vs. est. $0.18; Q2 revs $365.4M vs. est. $360.1M; Q2 same restaurant sales increased 9.0%, including guest traffic growth of 5.3%, and opened 17 net new restaurants during the quarter; affirms FY26 adjusted EBITDA view of $181M-$191M and comp Restaurant Sales 4.5% to 6.5%.
• National CineMedia (NCMI) shares fall; Q2 EPS loss (-$0.10) vs. est. loss (-$0.09); Q2 revenue $58.4M vs. est. $59.52M; entered into a definitive agreement to acquire Captivate Holdings, LLC, an operator of digital video elevator and lobby advertising in North America, at an enterprise value of $275M.

• Energy Vault Holding (NRGV) Q2 adj EPS ($0.15) vs est ($0.17); revenue $17.4Mm vs. est. $14.1Mm, +104% YoY; GAAP gross margin 31%; operating loss $24.7Mm; FY revenue guidance $270Mm-$310Mm vs. prior $225Mm-$300Mm and est. $252.4Mm; FY gross-margin guidance raised; 1.25 GW Texas Ai-data-center contract expected to generate $500Mm-$600Mm of revenue across 2H FY26-FY27.
• Firefly Aerospace (FLY) Q2 EPS ($0.57) vs est ($0.52); revenue $117.7Mm vs. est. $88.2Mm, beat, +659% YoY; gross profit $23.9Mm; operating loss $95.2Mm; FY revenue guidance $420Mm-$450Mm vs. est. $440.4Mm; Lockheed Martin multi-launch agreement extended through 2031.
• Nuscale Power (SMR) said may offer up to $750M of common stock under at-the-market sales agreement.
• T1 Energy (TE) Q2 cont ops EPS loss (-$0.145) vs. est. loss (-$0.10); Q2 revenue $250.13M above consensus $198.84M; Q2 operating expenses $71.87M; said expects G1_Dallas 2026 production at the higher end of 3.1-4.2 GW range and expects first solar cells from G2_Austin in Q1 2027
• U.S. Antimony Corp. (UAMY) Q2 EPS $0.00 vs. est. $0.01, miss; revenue $7.9Mm vs. est. $21.7Mm, -25% YoY; gross margin 7%; antimony pounds sold +26% YoY; FY revenue guidance $60Mm-$75Mm vs. prior $125Mm and est. $114.0Mm.

• H&R Block (HRB) Q4 adj. EPS $2.38 vs est $2.21; revenue $1.14B vs est $1.118B; FY adj. EPS $5.31 vs. est. $5.16, beat; FY revenue $3.95B vs. est. $3.92B, beat; FY27 revenue guidance $4.11B-$4.16B vs est $4.054B; FY27 adj. EPS guidance $6.04-$6.24 vs est $5.86
• Realty Income (O) announces $750 convertible senior notes offering.

• Liquidia (LQDA) Q2 YUTREPIA net product sales $170.4M; recorded fourth consecutive quarter of increasing profitability, with net income of $74.7M; 5,900 unique patient prescriptions since launch in June’25; Q2 cash and cash equivalents $284.2M
• Taysha Gene Therapies (TSHA) Q2 EPS ($0.13) vs. est. ($0.12), miss; R&D expense $38.6Mm, +92% YoY; operating loss $47.3Mm; operating expenses $47.3Mm.

• Evolv Technologies (EVLV) Q2 adj EPS ($0.02) vs. est. ($0.03), beat; revenue $43.8Mm vs. est. $41.8Mm, beat; ARR $132.7Mm; adj. EBITDA $4.4Mm vs est $2.652Mm; FY revenue guidance $180Mm-$185Mm vs. prior $175Mm-$180Mm and est. $177.2Mm; FY adj. EBITDA guidance $15Mm-$16Mm vs est $14.39Mm.
• Global-e Online Ltd (GLBE) Q2 revs $299M vs. est. $283.1M; Q2 ADJ gross margin 45.3%; Q2 Net Income $47.7M; Q2 ADJ EBITDA $62.4M; raises FY rev view to $1.305-$1.36B above prior view $1.22B-$1.28B and guides Q3 revs $308.5M-$315.5M, consensus $294.12M.
• Hon Hai Precision Industry Co. reported a better-than-expected increase in quarterly profit, signaling robust global demand for AI hardware; Net income for the three months ended in June grew 35% to NT$60 billion ($1.9 billion), versus the average analyst projection of NT$58.4 billion. The company previously reported a 40% rise in quarterly sales. Revenue in July jumped 54.2% to NT$946.5 billion.
• Lumentum Holdings (LITE) Q4 adj EPS $3.23 vs. est. $2.97; Q4 revs $1.01B vs. est. $987.7M; Q4 net income $326.3M vs. est. $290.8M; Q4 gross margins 50.4% and adj op. margin 47.4%; guides Q1 EPS $4.05-$4.35 vs. est. $3.61 and Q1 revs $1.225B-$1.275B above consensus $1.16B
• Quantinuum Inc. (QNT) Q2 adj EPS loss (-$0.28) vs. est. loss (-$0.26); Q2 revs $8M vs. est. $7.6M; sees FY26 revenue $28M-$32M, vs. consensus $26.47M; to partner with ORCL to accelerate hybrid quantum compute adoption on Oracle Cloud infrastructure.
• Silicon Laboratories (SLAB) Q2 net income (-$10.592M) vs. est. $22.9M and Q2 revs rose 18% y/y to $228.19M vs. est. $228M; suspended forward guidance due to pending Texas Instruments acquisition
• SMCI Corp. (SMCI) Q4 EPS $1.70 tops consensus $0.96; Q4 sales $11.1B vs. est. $11.6B; sees Q1 net sales $14.5B-$15.5B, well above consensus est. $11.99B and EPS $1.01-$1.10 vs. est. $0.72; expects annual revenue between $65B-$72B, ahead of estimates of $52.50B; said have generated more than $60 billion in new orders and booked record backlog entering fiscal 2027.
• U.S. memory stocks rose in overnight trading (MU, SNDK, SKHY) after reports that Singapore’s sovereign wealth fund Temasek is planning to invest in Samsung Electronics and SK Hynix triggered a rally in South Korean stocks.
• Velo3D (VELO) Q2 EPS loss (-$0.30) vs. est. loss (-$0.27); Q2 revs rose 52.3% y/y to $20.7M vs. est. $13.52M; raises FY26 revenue view to $65M-$75M from $60M-$70M (est. $64.16M); sees greater than 30% gross margin in 2H’26; sees FY26 adj operating expenses $45M-$55M; CapEx $40M-$50M, primarily for RPS expansion.