Morning Preview: August 27, 2026

Early Look

Thursday, August 27, 2026

Futures	Up/Down	%	Last
Dow	-41.00	0.08%	53,480
S&P 500	32.25	0.43%	7,722
Nasdaq	308.50	1.05%	29,598

Its all about technology stocks this morning as the Nasdaq Comp futures rise over 1% led by gains in semiconductors after Nvidia (NVDA) posts strong quarterly results and guidance, with shares rising over 7% and boosting the entire semi complex (AMD, INTC, ARM, MRVL and equipment names AMAT, LRXC, ASML), while also boosting AI related plays (power, data centers, optics). Meanwhile, it was also a monster night for the software sector as Salesforce (CRM) shares jumped after better results/guidance and announces Claudeforce Collaboration with Anthropic, while security software sector gets good numbers from CrowdStrike (CRWD) and Okta (OKTA) as both surged after results/guidance. In Asian markets, The Nikkei Index fell -130 points to 66,131, the Shanghai Index rose 44 points to 3,956, and the Hang Seng Index slips -87 points to 25,565. In Europe, the German DAX is up 79 points to 26,365, while the FTSE 100 falls -50 points to 10,828. With NVDA earnings in the rearview mirror, the focus now turns to the Federal Reserve’s Jackson Hole Symposium, where central bank officials will debate the path of interest rate policy. Fed Chairman Kevin Warsh is expected to deliver a speech on Friday, though his message is anyone’s guess. Bond yields have stabilized after spiking last week as investors continue to weigh Treasury’s intervention in the bond market and the likelihood that the Fed would hold rates steady. On the economic front, data on jobless claims, released Thursday, will add to the picture of the labor market.

Market Closing Prices Yesterday

The S&P 500 Index dipped -1.58 points, or 0.02%, to 7,675.70

The Dow Jones Industrial Average fell -113.52 points, or 0.21%, to 53,463.88
The Nasdaq Composite slipped -21.10 points, or 0.08%, to 26,130.20
The Russell 2000 Index declined -4.12 points, or 0.14% to 3,005.90

Economic Calendar for Today

8:30 AM ET Weekly Jobless Claims

8:30 AM ET Continuing Claims
8:30 AM ET Advance Goods Trade Balance for July
10:30 AM ET Weekly EIA Natural Gas Inventory Data
11:00 AM ET KC Fed Manufacturing for August
1:00 PM ET US Treasury to sell $44B in 7-year notes

Earnings Calendar:

Earnings Before the Open: BBW BBY VILI BURL BZUN CM CSIG DG DLTR GITU HQY HRL LOT MBUU MTLS RY TD TITN

Earnings After the Close: ADSK AFRM BBAR ESTC FINV GAP IREN KTCC MRVL PD RBRK S ULTA WDAY

Macro	Up/Down	Last
Nymex	0.20	82.43
Brent	0.63	88.47
Gold	-22.70	4,630.60
EUR/USD	-0.0003	1.1646
JPY/USD	0.12	159.41
10-Year Note	+0.02	4.67%

World News

The Trump administration is thinking about a new round of tariffs on semiconductors, Politico reported, despite warnings from tech companies that the move could hamper U.S. efforts of dominating the AI race. One tariff approach under consideration would expand the number of tech products subject to the duties, impacting not just chips but potentially many of the goods made with them, like laptops, Gaming consoles, or the servers that fill data Centers.

The bull-bear spread in the American Association of Individual Investors (AAII) weekly survey was (-11.5%) vs -4.4% last week. Bulls fall to (32.9%) from 35.5%, Neutrals fall to 22.6% from 24.8%, Bears rise to 44.4% from 39.9%.

Sector News Breakdown

Consumer

Abercrombie & Fitch (ANF) was downgraded to Neutral at Citigroup noting Q2 was an all-around impressive quarter, and Q3/2H guidance is very encouraging. However, with the stock +36% yesterday and only 6% upside to Citi’s new TP of $156, it views the risk/reward as balanced.

Burlington Stores (BURL) Q2 adj EPS $2.37 vs. est. $2.19; Q2 revs $3.0B vs. est. $3.03B; raises FY26 adj EPS view to $11.77-$11.97 from $11.45-$11.80 (est. $11.84), while narrows FY26 revenue growth view to 10%/11% from 9%-11% from FY25 revenue of $11.57B, consensus $12.86B.
Dollar Tree (DLTR) Q2 EPS $2.70 with benefit, vs. consensus $1.14; Q2 revs $4.89B vs. est. $4.86B; Q2 comparable store net sales growth of 3.7%; raises FY26 adjusted EPS view to $7.70-$8.05 from $6.70-$7.10 (est. $7.04) and affirms FY26 revenue view $20.5B-$20.7B, consensus $20.67B. Sees comparable store net sales growth in the range of 3%-4%.
Hormel Foods (HRL) Q3 adj EPS $0.37 vs. est. $0.35; Q3 revs $2.96B vs. est. $3.04B; cuts annual sales forecast and misses Q3 sales estimates; cites lower commodity linked pricing and continued pressure on consumer spending; sees annual net sales of $12.1B-$12.2B down from prior $12.2B-$12.5B and expects annual adjusted EPS of $1.45 to $1.51, vs. previous forecast of $1.43 to $1.51.
Pernod Ricard (PRNDY) reported steep sales declines in China and the U.S. and said it now expects to achieve only the lower end of its long-term sales target through 2029; said ow expects sales growth at the lower end of its 3% to 6% target range through 2029; sales in the U.S. and China fell 14% and 19%, respectively, in the year ended June 30.
Urban Outfitters (URBN) Q2 adj. EPS $1.72 vs est $1.73; sales $1.66B vs. est. $1.65B; comparable retail segment net sales +6.2%; gross profit $721.6Mm.

Energy, Industrials and Materials

Canadian Solar (CSIQ) Q2 EPS loss (-$1.40) vs. est. loss (-$1.23); Q2 revenue $1.21B, tops consensus $1.14B but guides Q3 revs $1.3B-$1.5B, consensus $1.77B; In Q3, module shipments recognized as REV expected to be in range of 3.5 GW to 3.8 GW and total Battery energy storage shipments expected in range of 3.4 GWH to 3.8 GWH.

Titan Machinery (TITN) Q2 EPS loss (-$0.40) vs. est. loss (-$0.36); Q2 revs $496.4M vs. est. $483.8M; reaffirms its prior issued profitability guidance for FY27
Solar stocks (FSLR, ENPH, SEDG, SHLS) were active late Wednesday after Bloomberg News reported President Trump signs order banning foreign grid equipment. President Trump signed an emergency order that bars the U.S. purchase or installation of certain foreign-made, bulk-power system electrical equipment, and associated software, where it could pose cybersecurity or operational risks,

Financials

CIBC (CM) Q3 adjusted EPS C$2.47 vs. est. C$2.53; Q3 revs C$8.37B vs. est. C$8.034; Q3 CET1 ratio was 3.4% at July 31, 2026, compared with 13.6% at the end of the prior quarter; leverage ratio and liquidity coverage ratio at July 31, 2026, were 4.3% and 127%, respectively; Q3 Net income at CIBC’s capital markets business surged 34% to C$722 million in the quarter.

Royal Bank of Canada (RY) Q3 adjusted EPS C$4.28, tops consensus C$4.07; Q3 revs C$18.54B, vs. consensus C$18.18B; Q3 CET1 capital ratio 13.5%; Q3 Net income rose 11% yr/yr, driven by Wealth Management and Capital Markets growth.
Unum Group’s (UNM) Board of Directors authorizes $1B share repurchase program.

Healthcare

AbbVie (ABBV) announced that it has submitted an application to the European Medicines Agency (EMA) seeking approval for SKYRIZI(R) (Risankizumab) for subcutaneous (SC) induction for the treatment of adult patients with moderately to severely active Crohn’s disease (CD).

Agilent Technologies (A) Q3 EPS $1.62 tops consensus $1.49; Q3 revs +8.1% y/y to $1.88B vs. est. $1.84B; Q3 Life Sciences and Diagnostics revenue grew 11% to $746M and Agilent Crosslab increased 6% to $786M; sees Q4 EPS $1.71-$1.74, vs. est. $1.71 and Q4 revenue $1.98B-$2.0B vs. est. $1.97B; Raises FY26 revenue view to $7.49B-$7.51B, from prior $7.39B-$7.49B.
NeoGenomics (NEO) announced that its RaDaR ST molecular residual disease assay has received expanded coverage from the Centers for Medicare & Medicaid Services’ Molecular Diagnostic Services Program to include immunotherapy monitoring for patients with late-stage solid tumors.
Veeva Systems (VEEV) Q2 adj EPS $2.35 vs. est. $2.22 and revs rise 18% y/y to $928M vs. est. $905.2M; Q2 net income climbs 37% to $273.4M; Q2 Subscription revenue advanced 16% to $766.8M, with management citing record quarter for Vault CRM and rapid acceleration in Veeva Falcon; guides Q3 revenue of $932-$935M above est. $918M and raises FY revs to $3.68-$3.69B from $3.635B-$3.645B.

Technology, Media & Telecom

Nvidia Corp. (NVDA) reported Q2 adj. EPS $2.22 vs. est. $2.09; revenue $96.2B vs. est. $92.3B; data center revenue $89.0B, +117% YoY vs. est. $85.86B; edge Computing revenue $7.2B, +27% YoY; gross margin 75%; operating Income $63.7B; Q3 revenue guidance $108B vs. est. $104.9B; sees Q3 revs $108B +/- 2% vs est $104.193B, adj gr mgn 73.5-74.5%, not assuming any data center revs from China in outlook; notes commitments increased to $279B from $119B q/q.

Nvidia (NVDA) has agreed to acquire open-source Ai platform Hugging Face for $12.9B, expanding its Ai ecosystem and access to a leading repository of open-source models, – The Information reports https://tinyurl.com/3m6nwa84
Amazon.com Inc. (AMZN) will add an additional 2 million Nvidia Corp. graphics processing units to its data center fleet in the next two years – Bloomberg
Nebius (NBIS) shares rise after Nvidia (NVDA) CFO says Nebius will be the first early adopter of Groq 3 LPX, Nvidia’s new AI inference platform, later this quarter. Nvidia says its Vera Rubin platform is ramping into full production, with Nebius among the partners running the systems.
Salesforce (CRM) Q2 adj. EPS $5.90 vs. est. $3.27; rev $11.35B vs. est. $11.32B; adj. op margin 34.1%; Q3 rev guidance $11.42B-$11.50B vs. est. $11.41B; Q3 adj. EPS guidance $3.42-$3.44 vs. est. $3.38; FY rev guidance $46.10B-$46.40B vs. est. $46.11B; FY adj. EPS guidance $16.67-$16.71 vs. est. $14.14. Salesforce and Anthropic also announced Claudeforce, an expanded strategic partnership bringing Claude’s intelligence and reasoning together with Salesforce’s trusted enterprise harness to make its data, workflows, business logic, actions, and governance securely accessible to power agentic experiences.
CrowdStrike (CRWD) Q2 adj. EPS $0.31 vs. est. $0.29; revenue $1.47B vs. est. $1.44B; gross profit $1.10B; free cash flow $377Mm; FY net new ARR growth guidance raised to 34% at midpoint; Q3 revenue guidance $1.5232B-$1.5292B vs. est. $1.515B; Q3 adj. EBIT guidance $372.7Mm-$375.9Mm vs est $369.31Mm; Q3 adj. EPS guidance $0.31 vs. est. $0.31; FY rev guidance $5.9911B-$6.0111B vs. est. $5.93B; FY adj. EBIT guidance $1.4972B-$1.5084B vs est $1.467B.
Everpure (P) Q2 adj EPS $0.70 vs. est. $0.58; revenue $1.20B vs. est. $1.10B; adj. gross margin 69.9%; adj. operating margin 19.4%; adj. operating Income $230Mm vs. est. $201.1Mm; free cash flow loss $238Mm; Q3 revenue guidance $1.325B-$1.335B vs. est. $1.137B; FY revenue guidance $5.03B-$5.07B vs. est. $4.50B; FY adj. operating Income guidance $940Mm-$960Mm vs est $849.44Mm.
Hewlett Packard (HPQ) Q3 adj. EPS $0.83 vs. est. $0.69; revs $15.68B vs. est. $14.38B; Personal Systems revenue $11.77B; Printing revenue $3.91B; Services revenue $852Mm; adj. operating margin 6.5%; free cash flow $1.57B; Q4 adj. EPS guidance $0.69-$0.79 vs. est. $0.67; FY adj. EPS guidance $3.19-$3.29 vs. est. $3.04, raised from prior $2.90-$3.10; FY free cash flow guidance $3.0B-$3.2B vs. prior $2.8B-$3.0B.
Nutanix Corp. (NTNX) Q4 adj. EPS $0.60 vs est $0.49; revenue $757.1Mm vs. est. $738.3Mm; ARR $2.55B; adj. operating margin 26.2%; adj. gross margin 87.7%; Q1 revenue guidance $755Mm-$765Mm vs est $755.47Mm; Q1 adj. operating margin guidance 26%-28%; FY revenue guidance $3.18B-$3.23B vs est $3.199B; FY adj. operating margin guidance 24%-25%; FY free cash flow guidance $850Mm-$950Mm.
Okta Inc. (OKTA) Q2 EPS $1.05 tops consensus $0.96; Q2 revs $805M vs. est. $793.03M; Sees Q3 revenue $813M-$817M, above consensus $808.16M and Q3 current RPO $2.59B-$2.6B; raises FY27 EPS view to $3.90-$3.94 from $3.79-$3.87 (est. $3.84) and boosts FY27 revenue view to $3.216B-$3.226B from $3.185B-$3.205B, vs. consensus $3.2B; Q2 subscription backlog +17% y/y to $4.86B.
Ooma Inc. (OOMA) Q2 revs rose 25% y/y to $83.22M vs. est. $81.6M; Q3 EPS $0.35 vs. est. $0.33; sees FY26 $15.04-$15.10, above consensus $14.79 and sees FY26 revenue $9.69B-$9.74B vs. est. $9.68B; Q2 adj EBITDA climbed to $12.4M and outstanding debt fell to $47M; raises FY27 adjusted EPS view to $1.35-$1.38 from $1.26-$1.31 and boosts FY27 revenue view to $332M-$333.5M from $326M-$328.5M.
Synopsys (SNPS) Q3 adj EPS $3.91, tops consensus $3.67 and revs rose 42.4% y/y to $2.477B vs. est. $2.44B; raising expectations for full-yr total rev to $9.715B at midpoint and full-yr non-Gaap eps guidance to $15.07 at midpoint on continued ai-driven demand strength (vs. est. $14.79).
Tenable Holdings Inc. (TENB) will replace Leggett & Platt Inc. (LEG) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, August 31. S&P MidCap 400 constituent Somnigroup International Inc. (SGI) is acquiring Leggett & Platt in a deal expected to be completed soon, pending final closing conditions.
Midmarket firm GenNx360 Capital Partners has raised about $865 million to back companies that the firm sees as benefiting from artificial intelligence or as shielded from its disruption. After successfully navigating a three-year fundraising cycle in one of the toughest environments for private equity, the New York firm is using its latest fund to zero in on such AI-resistant areas as aerospace and defense, data centers and other highflying industries

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Market commentary provided by Hammerstone Markets, Inc, a firm separate from and not affiliated with Regal Securities. Regal Securities has not participated in the creation of the content, and does not explicitly or implicitly endorse the content.