Quantinuum and CoreWeave Lead AI Earnings Surge as Reddit Joins S&P 500 and Trump Media Plunges 18%

Mumbai, Aug 15: The week witnessed a flurry of company-specific developments that materially impacted US-listed stocks, with the earnings season delivering a mixed bag of results across technology, consumer, and industrial sectors. Artificial intelligence infrastructure companies emerged as the standout performers, with CoreWeave, Super Micro Computer, and Nebius Group posting robust results that reignited AI optimism across the market.  

However, the week also saw sharp declines in several high-profile names, including Trump Media & Technology, which plunged 18% following dismal earnings, and Cisco Systems, which tumbled 9% after its results failed to satisfy elevated investor expectations.  

Index inclusion news drove a 13.8% surge in Reddit shares following its addition to the S&P 500, while regulatory developments included FDA approval for Lantheus Holdings’ Alzheimer’s diagnostic drug and the SEC clearing Franklin Templeton’s tokenized money fund for broader use. 

CoreWeave Revenue Doubles to $2.58 Billion as AI Demand Remains Robust 

CoreWeave Inc (CRWV), a provider of cloud computing infrastructure for artificial intelligence systems, reported second-quarter results on 10 August that significantly exceeded Wall Street expectations.  

The company posted revenue of $2.58 billion for the second quarter, more than doubling year-over-year and surpassing analyst estimates of $2.56 billion. The net loss came in at $1.14 per share, narrower than the $1.41 per share loss that analysts had projected. The company’s backlog stood at $104 billion at the end of the quarter, and it secured more than $25 billion in new customer commitments after the period ended.  

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CoreWeave raised its full-year revenue outlook to a range of $12.4 billion to $13.2 billion. Shares soared as much as 23% to $111.05 after markets opened on Wednesday. Analysts noted that CoreWeave’s second-quarter profitability improved from the previous quarter, with the company projecting its fourth-quarter adjusted operating margin would rise to the low teens. 

Super Micro Computer Beats EPS Estimates with $1.70 vs $0.92 Expected 

Super Micro Computer Inc (SMCI), a server manufacturer benefiting from the AI boom, reported fiscal fourth-quarter results that significantly exceeded Wall Street forecasts. Adjusted earnings per share came in at $1.70, well above the market estimate of $0.92. The company also provided a sales forecast for the current quarter that topped analysts’ estimates, signaling that the booming artificial intelligence market continues to bolster sales of the company’s servers. Shares jumped about 9% in extended trading after closing at $31.60 in New York. Analysts characterised the performance as driven by accelerating AI demand that is not expected to slow down anytime soon. 

Nebius Group Revenue Surges 514% Year-over-Year to $575 Million 

Nebius Group N.V. (NBIS), an AI cloud infrastructure company, reported second-quarter revenue of $575 million, representing a staggering 514% year-over-year increase and exceeding market expectations. The company’s results were part of a broader trend of strong performance from AI infrastructure companies, with analysts noting that signs of profitability improvement at these firms raised investor expectations. Shares surged as much as 16.5% following the earnings call. The strong results from CoreWeave, Nebius, and Super Micro collectively reignited AI optimism across the market, with analysts interpreting the performance as a signal that the AI infrastructure investment cycle remains robust. 

Quantinuum Shares Spike 22% on First Earnings Beat and Oracle Partnership 

Quantinuum (QNT), a quantum computing company that went public through a traditional IPO earlier this year, reported its first quarterly results as a public company on 11 August. The company reported second-quarter revenue of $8 million, beating analysts’ estimates of $7.6 million. Revenue nearly quadrupled year-over-year, with management issuing an upbeat full-year outlook guiding for revenue between $28 million and $32 million, compared with the $26.5 million Wall Street had anticipated.  

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However, operating losses widened significantly to $555 million from $51 million in the same period last year. The company also announced a strategic partnership with Oracle to integrate quantum hardware directly inside Oracle’s data centres. Year-to-date bookings reached $81 million. Shares spiked 22% to $68.30 on Wednesday, pacing toward the largest single-day percentage jump on record. 

Trump Media Plunges 18% on $1.7 Million Revenue and $238 Million Loss 

Trump Media & Technology Group (DJT), the holding company for the Trump family media businesses traded on the Nasdaq, saw its shares fall 18.1% during the week. On 10 August, the company reported second-quarter revenue of just $1.7 million, primarily from advertising on the Truth Social platform. The company posted a net loss of $238 million, largely due to the decline in digital cryptocurrency assets held on its balance sheet, including Bitcoin.  

The company has two major initiatives for the remainder of the year: a merger with nuclear fusion company TAE Technologies, expected to close later this year, and the commercialisation of its Truth+ API for investment firms at upwards of $100,000 per month. Shares are now down 87% from the time of Trump Media’s merger with a SPAC in March 2024. The company still maintains a market capitalisation of $2.3 billion despite its minimal business model. 

Reddit Jumps 13.8% After S&P 500 Inclusion Announcement 

Reddit Inc (RDDT), the online community and discussion platform traded on the NYSE, jumped 13.8% in Friday’s morning session after S&P Dow Jones Indices announced that the social media company would join the S&P 500, replacing AvalonBay Communities effective prior to the open on 18 August. The vacancy was merger-driven, as Equity Residential is acquiring AvalonBay, with the combined company remaining in the S&P 500. Reddit’s inclusion places it beside Meta as only the second pure-play social media stock in the benchmark.  

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J.P. Morgan estimated that passive funds may need to buy roughly 16.7 million shares—nearly three times Reddit’s average daily volume of about 5.98 million shares. Through Thursday’s close, Reddit was down more than 31% year-to-date and more than 42% from its September 2025 high. The stock closed at $178.26, trading 34.2% below its 52-week high of $270.71 from September 2025. 

Cisco Systems Falls 9% Despite Earnings Beat as High Expectations Weigh 

Cisco Systems Inc (CSCO), the networking equipment giant traded on the Nasdaq, reported fiscal fourth-quarter results on 12 August that exceeded expectations but failed to satisfy elevated investor sentiment. Adjusted earnings per share came in at $1.22, surpassing the market consensus of $1.17.  

The company attributed the strong sales to “broad-based, record-high demand for Cisco technology” and expects AI momentum to remain strong. Cisco shares had gained 1% to $125.19 in late trading on Wednesday. However, the stock subsequently tumbled approximately 9% on Thursday, closing near $113, as investors had priced in even higher expectations following the stock’s 61% year-to-date gain through Wednesday’s close. 

Cloudflare Jumps 3.4% on Q2 Revenue Beat and New AI Product Suite Launch 

Cloudflare Inc (NET), a content delivery network and cloud security company traded on the NYSE, saw its shares rise 3.47% to $310.59 on 12 August, driven by better-than-expected earnings and recent policy breakthroughs. In the second quarter, operating revenue reached $696 million with year-over-year growth of 35.87%, prompting the company to raise its 2026 guidance and unveil a new AI product suite. The positive digestion of earnings and the strategic product expansion into artificial intelligence drove investor enthusiasm for the stock. 

Cerebras Systems Tumbles 17% on Slower Growth Projections 

Cerebras Systems Inc (CBRS), an AI infrastructure company, reported revenue of $180.1 million for the quarter, up 74% year-over-year. However, hardware revenue declined to $54.1 million, while cloud division revenue nearly quadrupled to $126 million.  

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The company projected revenue of approximately $215 million in the current quarter, which topped the $212 million average estimate but was below some investors’ more optimistic predictions. Shares tumbled approximately 17% in late trading, with the stock opening down 12% at $230 on Wall Street. The company plans to more than triple its revenue in 2027. 

StubHub and Tapestry Shares Slide as Earnings Miss and FY2027 Outlook Disappoint Investors 

StubHub Holdings (STUB) and Tapestry Inc. (TPR) emerged among the week’s notable losers after disappointing earnings and forward guidance weighed on their shares. StubHub’s Q2 earnings per share missed the average analyst estimate, while its full-year forecast fell short of investor expectations despite a potential boost from the FIFA World Cup. Meanwhile, Tapestry’s initial FY2027 revenue and adjusted EPS guidance came in slightly below consensus at the midpoint, disappointing investors after its shares had surged nearly 20% since 15 May. 

Securitize Falls 20% After First Earnings Report as Public Company Misses 

Securitize Corp (SECZ), a tokenisation company traded on the NYSE, reported its first quarterly results as a public company on 12 August, three months after going public through a Cantor-backed SPAC merger. Revenue came in at $14.4 million, down 5% year-over-year. Net loss widened to $21.7 million, or $2.37 per diluted share, from $6.1 million a year earlier. Adjusted EBITDA swung to a $5.95 million loss from a $1.8 million profit.  

Full-year 2026 revenue guidance was trimmed to $70 million to $80 million from an earlier $85 million target as crypto market growth cooled more than expected. Shares had closed the regular session up more than 6% but fell over 20% after hours to a fresh low near $6.26. The company holds approximately $350 million in net cash and no debt. First-half 2026 revenue reached $33.9 million, up 16% and a company record, with average tokenized assets under management growing to $4.3 billion in the quarter. 

Applied Materials Falls 4% Despite Revenue and EPS Beat as Elevated Expectations Weigh 

Applied Materials Inc (AMAT), the semiconductor capital equipment company traded on the Nasdaq, reported fiscal third-quarter results after Thursday’s close on 13 August. Revenue came in at $9.115 billion, a record and approximately 25% year-over-year growth, against a $9.00 billion consensus. Adjusted earnings per share reached $3.50 against $3.39 expected. Both figures exceeded the top of the range management had set in May. The company has more than doubled its growth rate in one quarter, with revenue moving from $7.91 billion to $9.115 billion, a 15.2% sequential increase.  

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Despite the beat, the stock fell roughly 4% in extended trading. The decline was attributed to elevated expectations, with prediction market traders assigning a 94.1% probability of a beat and analysts issuing 26 upward EPS revisions with zero downward changes over the prior 90 days. The stock had traded at $548.34 ahead of the regular session, and the extended-hours decline put it near $526. 

Rocket Lab and AST SpaceMobile Report Earnings Amid High Expectations 

Rocket Lab USA Inc (RKLB) and AST SpaceMobile (ASTS) both reported earnings after market close on 10 August. Rocket Lab had seen its stock rise nearly 9.5% in the prior session, indicating the market had already priced in expectations. Market consensus expected revenue of approximately $231 million, up 60% year-over-year, within the company’s guidance range of $225 million to $240 million. Key areas of focus for Rocket Lab included its backlog—which stood at $2.2 billion at the end of Q1 and had recently been bolstered by over $600 million in new contracts from the U.S. Space Force—and progress on the Neutron rocket, scheduled for its first flight by the end of 2026.  

AST SpaceMobile, which is building satellites that connect directly to mobile phones, was expected to report revenue of $34-35 million and a loss per share of $0.28-$0.32. The company recently launched three new satellites, claiming speeds approaching 200 Mbps. Options implied significant volatility for both names, with Rocket Lab options implying a single-day price swing of 14-17% and AST SpaceMobile expected to see even higher volatility. 

Home Depot CEO Takes Medical Leave, Shares Decline 1.9% 

Home Depot Inc (HD), the home improvement retailer traded on the NYSE, announced on 12 August that Chair, President, and CEO Ted Decker will take a temporary medical leave of absence. During Decker’s absence, Senior Executive Vice President Ann-Marie Campbell will oversee day-to-day operations, and Executive Vice President and Chief Financial Officer Richard McPhail will oversee financial management. The company expects Decker to return within the next few months.  

The announcement, made just six days before the company’s second-quarter earnings report, added a leadership uncertainty premium to a stock already under pressure. Home Depot shares fell 1.9% to $347.7 on the news. The stock has shed roughly 14% over the past year and sits well below its 52-week high of $426.75. 

Cava Group Rises 9% on Traffic Growth and Higher-Priced Proteins 

Cava Group Inc (CAVA), the Mediterranean restaurant chain, reported sales that rose faster than expected as the restaurant chain’s salmon and pita chips drew in diners. An increase in traffic helped drive a 9% jump in sales at established locations, a faster pace than analysts anticipated.  

Customers also bought higher-priced proteins, including a pomegranate-glazed salmon, and added extras such as pita chips flavoured with sumac, sour cream, and onion. Cava shares rose about 3% in postmarket trading. The stock was up 3.7% year-to-date through Tuesday’s close. 

H&R Block, Aramark and Figure Surge 9.8%-12%, While Upwork Tumbles 10.2% on Weak Outlook 

The week saw sharp stock moves driven by quarterly earnings and guidance. H&R Block (HRB) jumped 12% after beating expectations with fiscal Q4 earnings of $2.38 per share on $1.14 billion in revenue. Aramark (ARMK) gained 9.8%, while Figure Technology Solutions (FIGR) rose 10.2% to $30.68 after strong earnings beats. In contrast, Upwork (UPWK) plunged 10.2% following weak forward guidance and analyst price-target cuts, while Performance Food Group (PFGC) also declined after disappointing fourth-quarter earnings. 

Virgin Galactic Shares Decline on Delta-Class Spaceplane Delay 

Virgin Galactic Holdings (SPCE), the space tourism company, announced on 12 August that it is delaying the debut of its Delta-class spaceplane until February 2027 to allow for additional time to complete avionics and systems installations. The company reported revenue of about $134,000 for the quarter and posted a smaller-than-expected net loss, with cash and cash equivalents standing at $187.3 million.  

Virgin Galactic booked new spaceflight expeditions representing an additional $50 million in expected revenue and plans to open bookings again in the US fall timeframe at a higher price than the current $750,000 per ticket. The delay weighed on the stock during the week. 

Lantheus Holdings Surges on FDA Approval for Alzheimer’s Diagnostic Drug 

Lantheus Holdings Inc (LNTH), a radiopharmaceutical company traded on the Nasdaq, received FDA approval on 14 August for Tauklarify (florquinitau F 18 injection), an imaging drug for Alzheimer’s diagnostics. The regulatory approval represented a significant milestone for the company, expanding its portfolio of diagnostic imaging agents. The development positively impacted investor sentiment and drove the stock higher. 

Bristol-Myers Squibb, Voyager and Perma-Fix Rally on FDA Approval and $4.37 Billion Contract Win 

Healthcare and space technology stocks gained on major corporate developments during the week. Bristol-Myers Squibb (BMY) received FDA approval on 13 August for a myeloma treatment, strengthening its oncology portfolio. Voyager Technologies (VOYG) shares closed higher after securing a major U.S.  

Space Force contract on 10 August, highlighting its capabilities in radiation-hardened space electronics and precision radio-frequency payloads. Meanwhile, Perma-Fix Environmental Services surged to a one-year high on 12 August after winning part of a $4.37 billion U.S. government contract for nuclear-waste treatment and disposal. 

Northrop Grumman, Star Equity and Dream Finders Announce $3 Billion-$2.2 Billion Deals as M&A Activity Accelerates 

Major defence contracts and acquisitions drove notable corporate developments during the week. Northrop Grumman (NOC) signed framework agreements worth more than $3 billion on 10 August to produce missile-interceptor components, including solid rocket motors and ignition safety devices for the PAC-3 MSE missile, as the U.S. also expanded Patriot and THAAD parts production with Northrop Grumman and Lockheed Martin.  

Star Equity Holdings (STRR) agreed to acquire Harte Hanks (HHS) for $5.00 per share, valuing the transaction at $38.4 million and representing an approximately 100% premium. Dream Finders Homes agreed to acquire Beazer Homes USA in an all-cash deal valued at approximately $2.2 billion, while Bowhead Specialty Holdings (BOW) entered into a $1.2 billion merger agreement with American Family Mutual Insurance Company. 

Samsung SDI, Barrick and Brookfield Reshape EV, Gold and Real Estate Markets as Braveheart Bio Raises $150 Million 

Major strategic partnerships, joint-venture restructuring and capital-market activity marked the week. Samsung SDI and General Motors (GM) signed an agreement on 11 August to co-develop next-generation prismatic EV battery cells with high energy density and fast-charging capabilities, while Samsung SDI acquired GM’s 49.99% stake in their Indiana-based SynergyCells joint venture. The move gives Samsung SDI its first independently operated North American battery production base, with the facility also planned for energy-storage systems (ESS). 

Meanwhile, Barrick Gold and Newmont agreed to modernise their Nevada Gold Mines joint venture by adding Barrick’s Fourmile and Newmont’s Fiberline and Mike projects. SWI Group and Brookfield also formed a $693.9 million two-vehicle joint venture focused on a U.S. multifamily portfolio. In the IPO market, Braveheart Bio (BRVE) priced its IPO at $150 million and began trading on Nasdaq on 6 August, becoming one of six companies to successfully price IPOs during the week. 

CoreCivic, DoubleVerify and MarineMax Gain on $500 Million Buyback, $2.15 Billion Takeover and $1.5 Billion Deal 

Corporate actions and M&A activity drove several notable stock moves during the week. CoreCivic (CXW) climbed 5% after launching a $500 million accelerated share buyback on 10 August, forming part of its $755.8 million repurchase programme. DoubleVerify (DV) rallied after Nielsen agreed to acquire it for $2.15 billion, offering shareholders $13.60 per share, a 30% premium to its 60-day VWAP.  

Meanwhile, MarineMax (HZO) gained 0.65% to $52.46 after Blackstone’s Safe Harbor agreed to acquire the company for $1.5 billion. Curtiss-Wright (CW) expanded its 2026 buyback by $100 million, taking planned annual repurchases to $160 million. Profusa (PFSA) announced a 1-for-4 reverse stock split, effective 17 August, to meet Nasdaq’s minimum bid-price requirement.  

BOA Acquisition Corp. II priced its SPAC IPO at 12.5 million units at $10 each, raising $125 million. Franklin Templeton also received an SEC no-action letter on 12 August supporting further development of blockchain-based tokenised funds, while Securitize reported its first earnings as a public company. 

IPO Wave Brings $345.6 Million for Latigo, $289 Million for Attovia and $150 Million for BlossomHill 

The U.S. IPO market saw several notable listings and fundraisings during the week, with River City Bank (RCBC) pricing 2.7 million shares at $45 each on 6 August, raising $121.5 million in gross proceeds as its shares began trading on the Nasdaq Capital Market. Latigo Biotherapeutics raised $345.6 million in an upsized IPO priced at the top of its $16-$18 marketed range. Attovia Therapeutics also raised $289 million in a U.S. IPO priced at the top of its marketed range. Meanwhile, oncology-focused BlossomHill Therapeutics raised $150 million in an upsized offering, with shares closing flat at $16, matching the IPO price. 

The week’s company-specific developments were dominated by AI infrastructure earnings, with CoreWeave, Super Micro, and Nebius delivering strong results that reignited AI optimism. However, high expectations punished Cisco and Applied Materials despite earnings beats. Index inclusion drove Reddit’s 13.8% surge, while Trump Media’s 18% plunge highlighted the risks of minimal revenue businesses. Regulatory approvals for Lantheus and Bristol-Myers Squibb, along with major government contracts for Voyager Technologies and Perma-Fix, provided positive catalysts. Share buybacks from CoreCivic and Curtiss-Wright, alongside reverse stock splits from Profusa, reflected varied corporate strategies. The week underscored the divergence between AI infrastructure winners and companies facing elevated expectations or fundamental challenges. 

Source 

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