Key Points
- The week of August 3-7, 2026 brings one of the year's densest earnings stretches, spanning AI/software, semiconductors, industrials, energy, pharma, banking, travel, retail-tech and utilities.
- Palantir (PLTR) reports Monday with consensus looking for continued triple-digit AI-driven growth after four straight quarterly beats.
- AMD (AMD), Arista Networks (ANET), Cloudflare (NET) and Shopify (SHOP) headline the tech/AI-infrastructure theme, with data-center and AI capex trends in focus.
- Pharma heavyweights Eli Lilly (LLY), Novo Nordisk (NVO), Merck (MRK), Pfizer (PFE), Gilead Sciences (GILD) and Vertex Pharmaceuticals (VRTX) report within 48 hours of each other, with GLP-1 competitive dynamics a central storyline.
- Energy and industrials — ConocoPhillips (COP), Williams Companies (WMB), Petrobras (PBR), Caterpillar (CAT), Parker-Hannifin (PH) and Howmet Aerospace (HWM) — will signal whether capex cycles and commodity prices are holding up.
- Consumer and travel names Marriott (MAR), McDonald's (MCD), Booking Holdings (BKNG), Uber (UBER), Disney (DIS) and Spotify (SPOT) will reveal how resilient discretionary spending remains.
- Storage and hardware names Sandisk (SNDK) and Western Digital (WDC) are set to post historic year-over-year gains tied to the memory/NAND pricing supercycle.
- Utility Vistra (VST) closes out the week Friday, with power-demand growth from AI data centers a key watch item.
Why This Week Matters for Investors
Roughly thirty companies across nearly every major sector report second-quarter fiscal 2026 results between Monday, August 3 and Friday, August 7, giving investors a concentrated read on the health of AI infrastructure spending, consumer resilience, energy pricing, and the pharmaceutical GLP-1 race. Because so many bellwethers cluster in a single week, the reports collectively function as a mid-cycle checkpoint on whether 2026's dominant market narratives — AI capex, GLP-1 drug competition, resilient travel demand, and power-grid strain from data centers — are still intact or beginning to crack. Analyst consensus estimates, discussed throughout this preview, represent the bar that each company must clear; a beat-and-raise quarter can extend a stock's trend, while a miss or cautious guide can trigger outsized moves given how much good news is already priced into several of these names.
Monday, August 3
Palantir Technologies (PLTR)
Palantir (PLTR) enters its Q2 2026 print (due after Monday's close) on the back of an extraordinary run: revenue has accelerated from $725.5 million in Q3 2024 to $1.63 billion in Q1 2026, with EPS climbing from $0.06 to $0.34 over that span. Analysts model Q2 2026 EPS of roughly $0.35 on revenue near $1.81 billion, implying growth still running near triple-digit percentages driven by its AI Platform (AIP) commercial and government contracts. The stock has beaten EPS estimates in six of its last eight quarters, though last quarter's report triggered a slight pullback despite the beat — a sign that expectations, and the stock's valuation near 150x trailing earnings, leave little room for anything short of an outright blowout. Wall Street's consensus sits at Buy with a $173-190 average price target range, though the rating is more split than the headline suggests — nearly a third of covering analysts rate it Hold or worse, reflecting persistent valuation skepticism even as fundamentals accelerate.
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Mitsubishi UFJ Financial Group (MUFG)
Japan's largest bank, Mitsubishi UFJ Financial Group (MUFG), reports fiscal Q1 2027 results Monday. The bank has trounced EPS estimates in five straight quarters, including a $0.44 actual versus $0.34 estimate in the prior comparable period, and consensus for the upcoming quarter sits near $0.34 EPS on roughly $10.1 billion in revenue. Investors will watch Bank of Japan rate-normalization tailwinds to net interest margin and continued strength in global corporate and investment banking fees, themes that have consistently powered beats over the past year.
Vertex Pharmaceuticals (VRTX)
Vertex Pharmaceuticals (VRTX) reports Monday afternoon with consensus expecting EPS of $4.85 on revenue near $3.23 billion, up from $4.02 EPS on $2.99 billion a quarter earlier. Vertex has missed EPS estimates in six of its last seven quarters even as revenue has consistently landed near or above expectations, a pattern tied to elevated R&D and acquisition-related charges rather than commercial softness in its core cystic fibrosis franchise. Sell-side sentiment remains firmly bullish — 78% of covering analysts rate the stock Buy, and price targets have been raised sharply in July, with UBS lifting its target to $585 and RBC to $570. The key swing factor is uptake of Journavx (non-opioid pain treatment) and the gene-editing therapy Casgevy, both potential long-term growth drivers beyond the mature CF business.
Marriott International (MAR)
Marriott (MAR) reports Monday morning with consensus EPS of $3.06 on revenue near $7.19 billion, building on a Q1 beat of $2.72 versus $2.56 estimated. Marriott has beaten EPS estimates in six of its last eight quarters, and the stock trades near $365-371 after multiple price-target hikes from Morgan Stanley (to $380), Goldman Sachs (to $405) and Wells Fargo (to $449) in July, even as the consensus rating remains a more cautious Hold given the stock's premium valuation near 38x earnings. RevPAR trends, unit growth in the loyalty-driven Bonvoy ecosystem, and any update to full-year EPS guidance (currently $11.38-$11.63) will be the headline items investors track.
Williams Companies (WMB)
Natural-gas infrastructure giant Williams Companies (WMB) reports Tuesday morning (technically falling at the Monday/Tuesday transition) with consensus EPS of $0.52 on revenue of $2.84 billion, following a Q1 beat of $0.70 versus $0.65 estimated. Williams has beaten or matched EPS estimates in five of the last eight quarters and carries a Strong Buy consensus with an average price target of $83.57, following July upgrades from Morgan Stanley ($99), JPMorgan ($89) and UBS ($89). Natural gas demand tied to LNG exports and AI data-center power needs is the structural tailwind analysts are focused on for forward guidance.
Tuesday, August 4
SpaceX / Space Exploration Technologies Corp (SPCX)
SpaceX (SPCX) — trading under its newly public ticker since its June 2026 Nasdaq debut — reports its first quarter as a public company Tuesday. Consensus estimates a loss of roughly $0.23 per share, with the stock's brief public history already marked by volatility: shares have fallen more than 35% over the trailing 30 days amid Starship test delays and a slide below the IPO price in mid-July. Segment disclosure across Starlink connectivity, launch services, and the newly folded-in AI/Grok business will be closely watched, as will any commentary on the Pentagon computing partnership reported in mid-July. With a market capitalization north of $1.5 trillion and a P/E ratio deep in negative territory, this print carries outsized headline risk for a stock still finding its footing as a public entity.
AMD (AMD)
AMD (AMD) reports Tuesday afternoon with consensus EPS of $1.61 on revenue near $11.31 billion, up from $0.84 EPS on $10.25 billion in Q1. AMD has missed EPS estimates in six of its last eight quarters even as revenue has beaten consistently — a pattern that reflects aggressive investment in AI accelerator capacity (MI300/MI350 series) weighing on near-term margins even as the data-center growth story remains intact. The stock carries a Strong Buy consensus with an average target near $556 (median $600), and several firms lifted targets sharply in late July — Susquehanna to $500, Mizuho to $625 — reflecting confidence that AMD is closing the gap with Nvidia in AI silicon. Data-center GPU revenue trajectory and any update to full-year AI chip guidance will be the dominant swing factors for the stock's reaction.
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Caterpillar (CAT)
Caterpillar (CAT) reports Tuesday morning with consensus EPS of $6.25 on revenue of $19.34 billion, following a strong Q1 beat of $5.47 versus $4.55 estimated. Caterpillar has beaten EPS estimates in seven of its last eight quarters, a run driven by resilient global construction and data-center-related power-generation equipment demand. Consensus rating sits at Buy with an average target of $870.53, though Baird downgraded the stock to Neutral in late July even while raising its price target to $900, signaling the valuation has largely caught up with fundamentals. Dealer inventory levels and machinery order backlogs, particularly in energy and transportation equipment, will be the key metrics investors parse for signs of a cycle turn.
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HSBC Holdings (HSBC)
HSBC (HSBC) reports Tuesday with consensus EPS near $2.24 on revenue of $18.66 billion, building on a Q1 beat of $2.20 versus $2.18 estimated. HSBC has topped EPS estimates in six straight quarters, aided by elevated interest rates across its Asia-Pacific and UK banking franchises, though revenue figures have shown unusual swings tied to one-off items in prior periods. Net interest margin trends and provisions for credit losses amid a mixed China property backdrop remain the primary areas of scrutiny.
Merck (MRK)
Merck (MRK) reports Tuesday with consensus looking for an EPS loss of roughly $0.26 on revenue near $16.37 billion, following a wider-than-expected Q1 loss of $1.72 versus a $1.51 loss estimated — largely tied to acquisition and IPR&D charges rather than core operating weakness. Shares have traded between $124 and $135 in recent weeks, and the consensus rating is Buy with an average target of $130.53, though Barclays raised its target to $150 in late July. Keytruda's growth trajectory ahead of looming patent-cliff exposure, along with pipeline updates in vaccines and cardiovascular drugs, will be the central narrative investors track.
Arista Networks (ANET)
Arista Networks (ANET) reports Tuesday afternoon with consensus EPS of $0.89 on revenue near $2.83 billion, building on a Q1 beat of $0.80 versus $0.81 (a marginal miss) that nonetheless followed a string of strong prints. Arista carries a unanimous Strong Buy consensus among 16 analysts with an average price target of $194 and several July target hikes to the $200-210 range from Needham, Wells Fargo and TD Cowen. As a core supplier of high-speed networking switches for AI data centers, cloud-customer capex commentary and any update on hyperscaler order visibility will be the most important elements of the print.
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McDonald's (MCD)
McDonald's (MCD) reports Tuesday morning with consensus EPS of $3.32 on revenue near $7.13 billion, following a Q1 beat of $2.78 versus $2.74 estimated. McDonald's has beaten EPS estimates in five of its last eight quarters, and the consensus rating sits at Buy with an average target of $331.90, though ratings are notably split with 40% of analysts at Hold. US comparable sales trends and value-menu traffic amid a cautious lower-income consumer will be the primary swing factor for how the market reacts.
Gilead Sciences (GILD)
Gilead Sciences (GILD) reports Tuesday afternoon with consensus modeling a loss of roughly $7.07 per share on revenue near $7.4 billion — a headline EPS figure skewed heavily by one-time charges, following a Q1 EPS of $1.61 versus $1.89 estimated. Gilead has beaten revenue estimates in seven of its last eight quarters, powered by its HIV franchise (Biktarvy) and growing oncology portfolio, and carries a Strong Buy consensus with an average target of $152.14. Recent analyst action has been mixed — Leerink downgraded to Market Perform in late July even as Morgan Stanley maintained Overweight — making Biktarvy's growth durability and cell-therapy pipeline progress the key items to watch.
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Pfizer (PFE)
Pfizer (PFE) reports Tuesday morning with consensus EPS of $0.68 on revenue of $14.39 billion, following a Q1 beat of $0.47 versus a lower estimate structure that still marked a miss against the $0.71 consensus for that period. Pfizer's EPS estimate trajectory has been declining over the past year, and the stock carries a comparatively lukewarm Buy consensus with an average target of just $28.55, among the lowest upside implied of any name in this preview. Post-COVID revenue normalization, oncology pipeline contribution from the Seagen acquisition, and cost-cutting progress toward margin targets are the central themes for the print.
Arista aside — Booking Holdings (BKNG)
Booking Holdings (BKNG) reports Tuesday afternoon with consensus EPS of $2.45 on revenue near $7.19 billion, following a Q1 beat of $1.36 versus $1.10 estimated. Booking has beaten EPS estimates in every one of its last eight quarters, and carries a Strong Buy consensus with an average target of $223.69 — UBS raised its target to $266 on July 30, just ahead of this print. Gross travel bookings growth and alternative-accommodations market share versus Airbnb will be the key metrics shaping the market's reaction.
Spotify (SPOT)
Spotify (SPOT) reports Tuesday with consensus EPS of $3.27 on revenue near $5.47 billion, following a Q1 miss of $3.45 versus $3.72 estimated. Spotify's beat/miss record has been volatile — three of the last four quarters delivered enormous EPS surprises (including a +2.14 beat in Q4 2025) — reflecting the operating leverage inherent in its subscription model once margin initiatives kick in. The stock carries a Strong Buy consensus with an average target of $629.75, and subscriber growth alongside gross-margin trajectory from podcast and audiobook monetization will dominate the earnings discussion.
Wednesday, August 5
Wednesday is the single busiest day of the week, with eight major reports spanning pharma, storage/hardware, media, e-commerce, ride-hailing and healthcare services.
Eli Lilly (LLY)
Eli Lilly (LLY) reports before the open with consensus looking for roughly $8.80-$8.86 EPS on revenue near $20.5 billion, implying nearly 40% year-over-year growth off a $14.7 billion prior-year base as GLP-1 drugs Mounjaro and Zepbound continue to scale. Lilly beat Q1 2026 estimates decisively, and the stock — despite recent pressure from Novo Nordisk's competing oral GLP-1 pill news — remains a Wall Street favorite with an overwhelmingly bullish analyst base. International expansion of tirzepatide, manufacturing capacity additions, and pipeline updates on oral obesity candidates will be the primary swing factors for the stock's reaction to this print.
Sandisk (SNDK)
Sandisk (SNDK) reports its fiscal Q4 2026 results after the close, with consensus modeling a historic swing to profitability — EPS near $33.28-$33.34 on revenue around $8.24-$8.3 billion, up more than 300% year-over-year as NAND flash pricing surges amid an industry-wide memory supercycle. The company's own guidance range of $7.75-$8.25 billion in revenue and $30-$33 non-GAAP EPS suggests management is confident heading into the print, and shares surged 8.3% after the prior quarter's blowout results. Gross-margin trajectory (guided at 79-81%) and commentary on new business-model contracts locking in pricing will be the metrics that matter most.
Novo Nordisk (NVO)
Novo Nordisk (NVO) reports Wednesday with consensus EPS near $5.27 on revenue of roughly $73.1 billion, implying a sequential EPS decline of about 20% even as revenue grows modestly from the prior quarter. The GLP-1 pioneer has faced intensifying competitive pressure from Eli Lilly's oral pill progress, and its own newly launched Wegovy pill formulation is a central catalyst investors will scrutinize for early uptake signals. Watch for updates on US market-share trends in the obesity category and pricing dynamics amid growing compounded and generic competition.
Western Digital (WDC)
Western Digital (WDC) reports its fiscal Q4 2026 results after the close, with consensus modeling EPS near $3.28-$3.68 and continued strength in enterprise hard-disk-drive and NAND demand tied to AI data-center storage buildouts. Like Sandisk, Western Digital is riding the same memory-pricing supercycle, and the market will look for confirmation that elevated pricing and improved mix are sustainable rather than a short-term spike.
Disney (DIS)
Disney (DIS) reports its fiscal Q3 2026 results before the open, with consensus EPS estimates having moved to roughly $1.49-$1.57 after Disney beat estimates in each of the prior four quarters, including a $1.63 actual versus $1.57 estimate the quarter before. Parks and Experiences segment operating income, streaming (Disney+/Hulu) subscriber growth and profitability, and any update on the ESPN direct-to-consumer rollout will be the primary storylines investors track heading into the print.
Shopify (SHOP)
Shopify (SHOP) reports before the open with consensus EPS of $0.41 on revenue of $3.51 billion, implying 10.7% year-over-year growth — a deceleration from historical rates offset by expectations of significant operating-margin expansion toward a 15% target. Shopify beat EPS estimates in three of its last four quarters (average beat of about 4.5%) but missed a revenue guidance range once in the prior period, and the stock trades roughly 18-22% below its consensus price-target range in the mid-$130s. Gross merchandise volume trends, active merchant counts, and margin trajectory will be the deciding factors in how the market reacts to this report.
Uber (UBER)
Uber (UBER) reports before the open with consensus EPS near $0.83 on revenue of roughly $14.2-$14.5 billion, building on a Q1 beat of $0.72 versus $0.69-$0.71 estimated. Uber's own guidance range of $0.78-$0.82 EPS for the quarter sits just below the Street consensus, a signal management may be setting a cautious bar after Middle East-related regional headwinds affected the prior quarter. Uber One membership growth (50 million members reportedly driving half of gross bookings), autonomous-vehicle partnership progress, and gross bookings guidance will dominate the post-earnings narrative; the stock carries a Moderate Buy consensus with an average target above $105.
CVS Health (CVS)
CVS Health (CVS) reports before the open with consensus adjusted EPS of $1.86, up modestly from $1.81 a year earlier, following a strong Q1 beat of $2.57 that drove management to raise full-year adjusted EPS guidance to $7.30-$7.50. The May guidance raise was driven by better medical-cost control at the Aetna insurance unit and improved profitability at the Caremark pharmacy-benefit-management business, and Wednesday's print will test whether that improved cost trend held through the second quarter. Aetna's medical loss ratio (which came in at 84.6% last quarter) is the single most important metric for judging underlying insurance-segment health.
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Thursday, August 6
ConocoPhillips (COP)
ConocoPhillips (COP) reports before the open with consensus EPS near $2.90-$2.99 on revenue around $17.05 billion, implying roughly 15% revenue growth and a doubling of EPS versus the year-ago period, aided by higher production volumes. ConocoPhillips beat estimates in three of its last four quarters, most recently posting $1.89 versus a lower prior-period comparison. Capital-return commentary — the company distributed $2 billion to shareholders in Q1 and has signaled increased buybacks for Q2 — alongside production guidance will be closely watched given oil price volatility this year.
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Parker-Hannifin (PH)
Parker-Hannifin (PH) reports its fiscal Q4 and full-year 2026 results before the open, with a conference call scheduled for 11 a.m. Eastern. As a diversified motion and control technologies supplier with heavy exposure to aerospace, industrial automation and mobile equipment end markets, order backlog trends and organic growth guidance for fiscal 2027 will be the primary items investors track heading into this report.
Petrobras (PBR)
Petrobras (PBR) reports its Q2 2026 results after market close, with consensus EPS near $1.02 following a Q1 miss of $0.96 versus $1.02 estimated. The Brazilian state-controlled oil major posted resilient full-year 2025 results despite a 14% drop in average Brent crude prices, supported by adjusted EBITDA near $42.5 billion and continued shareholder distributions, and investors will look for confirmation that cost discipline is offsetting lower crude prices this quarter. New platform ramp-ups (P-78 and P-79) and dividend policy updates are also key items on the earnings call, scheduled for Friday morning Brasília time.
Howmet Aerospace (HWM)
Howmet Aerospace (HWM) reports Thursday with consensus EPS of $1.24, up 36% year-over-year from $0.91, after beating estimates in three of its last four quarters, including a Q1 beat of $1.22 versus $1.11 estimated. The stock carries a Buy consensus with an average price target around $317.74 and has surged more than 50% over the trailing year on red-hot commercial aerospace aftermarket demand and record engine-spares backlogs tied to Boeing and Airbus production recoveries. Engine Products segment growth (up 29% last quarter) and full-year guidance updates will be the primary drivers of the stock's reaction.
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Cloudflare (NET)
Cloudflare (NET) reports Thursday with the company's own guidance calling for EPS around $0.27 (above the Street's earlier $0.21 consensus) on revenue of $664-$665 million, following a Q1 beat of $0.25 versus $0.23 estimated. Cloudflare carries a Moderate Buy consensus with an average price target near $232.62, though the rating base is more mixed than peers ANET or NVDA, with Goldman Sachs downgrading to Sell in April even as Piper Sandler and RBC raised targets. Full-year EPS guidance (currently $1.19-$1.20) and net-new large-customer additions will be the key metrics shaping investor reaction.
Friday, August 7
Vistra (VST)
Vistra (VST) closes out the week with consensus EPS of $2.43, up 141% year-over-year from $1.01, though Vistra's beat/miss record has been unusually volatile — the company missed badly in Q3 and Q4 2025 before a large beat in Q1 2026 ($2.87 versus $1.32 estimated). As an integrated retail electricity and power-generation company with significant nuclear and gas capacity, Vistra sits at the center of the AI-driven power-demand narrative, and management commentary on data-center power-purchase agreements and capacity-market pricing will be the dominant theme for how the market interprets this final report of the week.
What to Watch Across the Week
The through-line connecting nearly every report this week is whether elevated 2026 growth expectations — built on AI infrastructure spending, GLP-1 drug adoption, memory-chip pricing, and resilient consumer travel — can continue to be met without disappointment. Investors should pay particular attention to forward guidance commentary rather than backward-looking beat/miss figures alone, since several of these stocks (Palantir, AMD, Arista, Howmet, Sandisk) already trade at valuations that price in continued outperformance. Conversely, more modestly valued names such as Pfizer, HSBC, and Petrobras offer a different risk profile, where even in-line results could be sufficient to support current share prices given lower embedded expectations. Taken together, this week's earnings slate offers one of the clearest cross-sector snapshots of where 2026's dominant investment themes stand at the midpoint of the year.
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