👉 Institutional Investors' Holdings Coming SOON

Together with Waldo

Welcome to your new week.

Payrolls went negative on Friday, which turns Wednesday's CPI print into the single most important number of the month — and two AI infrastructure names report on either side of it.

Key Earnings Announcements:

The earnings roll on with roughly 300 companies set to report this week.

Monday (8/10): AST SpaceMobile, Barrick Mining, Berkshire Hathaway, Bitdeer Technologies, CEVA, Embraer, GoPro, Hims & Hers Health, Monday.com, Plug Power, Quantum Computing, Rocket Lab

Tuesday (8/11): American Integrity Insurance, Cardinal Health, CAVA Group, CoreWeave, Lumentum Holdings, Middleby, On Holding, Sea Limited, Super Micro Computer, Tencent Music Entertainment

Wednesday (8/12): Allogene Therapeutics, Amcor, Arcos Dorados, Beta Technologies, Brinker International, Cerebras Systems, Cisco Systems, Coherent, Liquidia, Nebius Group

Thursday (8/13): Applied Industrial Technologies, Applied Materials, ARS Pharmaceuticals, Figure Technologies, Globant, Intuitive Machines, JD.com, The Metals Company

Friday (8/14): Adecoagro, Agora, Credicorp, Gemini Space Station, LanzaTech, NET Power, Outlook Therapeutics, PAVmed, RLX Technology, Teamshares, The AES Corporation

The High-Yield Account for Business Cash

You have a high-yield savings account for your emergency fund, why don’t you have one for your business? Most businesses can’t open a traditional high-yield savings account with their current bank — forcing them to leave idle cash to sit in a low-yield checking account earning nothing.

Waldo helps small business owners, startups, nonprofits, and enterprises maximize their company cash through high-yield treasury accounts — with no minimums and without forcing you to switch banks.

Waldo offers access to yields up to 5% alongside SIPC insurance coverage up to $75M*. Waldo aims to provide institutional-grade solutions to all types and sizes of business. Opening an account takes less than 5 minutes.

What We’re Watching:

1. Applied Materials (AMAT)

Applied Materials (+109.8% YTD) reports Q3 2026 earnings Thursday after the close, with investors focused on whether the fastest revenue growth in the company's recent history can justify a stock that has more than doubled in seven months. Shares closed Friday at $539.14, giving Applied a $428.1 billion market cap, and the print lands with the stock roughly 25% below the $723.00 all-time closing high it set on June 30. Options are pricing an 8.3% move against a 6.1% average on recent reports.

Last quarter, Applied delivered record revenue of $7.91 billion, up 11% year over year, with GAAP gross margin of 49.9% — its highest in more than 25 years — and record GAAP EPS of $3.51, up 33%. Semiconductor Systems revenue hit $5.97 billion and Applied Global Services grew 17% to $1.67 billion. Management guided Q3 to roughly $8.95 billion give or take $500 million and raised its full-year outlook, saying the semiconductor equipment business would grow more than 30% in calendar 2026.

This quarter, the focus will be on whether that 30% number holds and whether the DRAM and advanced packaging ramp is as durable as management says. Applied expects packaging revenue to grow more than 50% this calendar year and has told investors that leading-edge foundry logic, DRAM, and advanced packaging will account for more than 80% of the year-over-year growth in total wafer fab equipment spending in 2026. Consensus calls for $9.0 billion in revenue, which would be 23% growth — the fastest in years — so the bar is no longer low. China is the honest risk: management expects that business to be flat to slightly higher, and it was 24% of Semiconductor Systems plus services revenue last quarter.

• Analysts expect $3.45 GAAP EPS on Revenue of $9.0 billion.

• You can explore the most recent AMAT investor release here and here.

2. CoreWeave (CRWV)

CoreWeave (+26.6% YTD) reports Q2 2026 earnings Tuesday after the close, and the setup is unusual: revenue is compounding faster than almost any company in the market and the stock still sits 50.6% below its June 2025 high of $183.58. Shares closed Friday at $90.67 for a $49.5 billion market cap. Options are pricing a 12.6% move, and CoreWeave has averaged a 16.8% swing on its reports — it has fallen the day after every single print since going public, including an 11.4% drop in May.

Last quarter, CoreWeave delivered $2.078 billion in revenue, up 112% year over year and 32% sequentially, signed more than $40 billion in new customer commitments, and pushed contracted revenue backlog to $99.4 billion — up nearly 50% in a single quarter. Adjusted EBITDA was $1.2 billion at a 56% margin. But the net loss widened to $740 million from $315 million, GAAP EPS came in at a loss of $1.40 against a $0.89 estimate, and Q2 guidance of $2.45 billion to $2.6 billion landed below the $2.69 billion the Street wanted. The stock fell 11.4% the next day.

This quarter, the focus will be on capital intensity and whether margins have actually bottomed. CoreWeave is guiding to $31 billion to $35 billion in 2026 capital expenditures against $12 billion to $13 billion in revenue, which means the backlog only matters if the financing holds and the data centers come online on schedule. Management has said Q1 was the low point for operating margin and has raised the minimum 2026 annualized run-rate target to $18 billion with more than 75% of a $30 billion-plus 2027 target already contracted. Watch delivery timing, power coming online, and the share of backlog tied to non-investment-grade AI customers, which management put below 30% last quarter.

• Analysts expect -$1.45 GAAP EPS on Revenue of $2.6 billion.

• You can explore the most recent CRWV investor release here and here.

Investor Events / Global Affairs:

Institutional managers must reveal their June 30 positions by Friday's 13F deadline, Google raises Pixel prices because of a memory shortage, and the FDA decides on a first-in-class Alzheimer's imaging agent.

• 13F Deadline Reveals Wall Street's June 30 Positions

Friday is the deadline for institutional investment managers with at least $100 million in U.S. equities to file Form 13F and disclose what they owned as of June 30. Every hedge fund, pension, endowment, and family office above that threshold has to show its hand at the same time, and the filings pour into the SEC's EDGAR system between Thursday afternoon and Friday's 5:30 p.m. ET cutoff.

Analysts have Nvidia (NVDA), Meta Platforms (META), Tesla (TSLA), CoreWeave (CRWV), and Corning (GLW) as some of the stocks to watch for notable portfolio shifts. Last quarter's filings gave us Berkshire Hathaway lifting its Alphabet stake more than 200% to roughly $15.6 billion, Bill Ackman's Pershing Square building a $2.1 billion Microsoft position while cutting Google 95%, and Nvidia itself raising its CoreWeave stake 94.5% to 47.21 million shares worth $3.657 billion.

Here is the catch, and it is a big one this quarter. A 13F is a photograph of June 30 developed 45 days later, and July was the month the AI trade broke. Corning rose 87.9% in the second quarter and has fallen 35.1% since. Tesla gained 13.1% and has dropped 21.9%. Leopold Aschenbrenner's Situational Awareness went from a 439% first-half return to a 67% July loss and a forced sale of roughly $16 billion in public equities to Ken Griffin's Citadel. Friday's filings will show you exactly how crowded those trades were right before they unwound. That is useful history. Just do not mistake it for what anyone owns today.

• Google Raises Pixel Prices On A RAM Crisis

Google's "Made by Google" event returns to New York Wednesday at 6:00 p.m. ET, where the company is expected to unveil the Pixel 11, Pixel 11 Pro, Pixel 11 Pro XL, Pixel 11 Pro Fold, and a Pixel Watch 5, all built on a next-generation Tensor G6 chip made on a 2-nanometer process. The unusual part is that Google has already told everyone prices are going up before saying what they will be.

Leaks point to roughly $100 increases across most of the lineup, with the base Pixel 11 moving from $799 to around $899 and the Pro Fold pushing toward $1,899 to $2,150, partly offset by base storage doubling from 128GB to 256GB. Google has blamed a supplier-driven memory shortage and pointed to Morgan Stanley data showing the cost of 1GB of RAM climbing from $2.80 in 2025 to $12 in 2026. Retail availability is expected around August 20.

This is a bigger story than one phone line. Memory pricing is now a direct input into consumer hardware margins across the industry, and Google is the first major manufacturer to say so out loud and raise prices ahead of the fall launch cycle. Watch the actual preorder pricing Wednesday night, whether Google offsets it with trade-in or Google One bundles, and how Samsung and Apple respond. If a company that sells silicon-adjacent hardware at scale cannot absorb this, the read-through to every device maker heading into the holidays is not good.

• Lantheus Faces An Alzheimer's FDA Decision

The FDA's target action date for Lantheus Holdings' New Drug Application for MK-6240 lands Thursday. MK-6240, or florquinitau F-18, is a first-in-class F18-labeled PET imaging agent built to visualize tau neurofibrillary tangles — one of the two defining hallmarks of Alzheimer's disease — in patients being evaluated for cognitive impairment. The FDA accepted the application on October 28, 2025 after granting Fast Track designation.

The filing rests on two pivotal Phase 3 trials that hit co-primary endpoints for both sensitivity and specificity in detecting tau pathology. Lantheus picked up the asset in a February 2023 acquisition of Cerveau Technologies and says MK-6240 is already the most widely used tau imaging agent across 17 pharmaceutical-sponsored Alzheimer's programs. Independent tracker BiopharmaWatch puts the probability of approval at 87.5%. Shares sit near $101 heading in, down roughly 8% over the trailing 30 days.

The commercial logic is straightforward. More than 100 disease-modifying Alzheimer's therapies are in development, roughly 30 of them targeting tau directly, and every one of those programs needs a way to select and monitor patients. Approval would make MK-6240 a companion diagnostic that complements the beta-amyloid PET imaging already in use, which is a recurring-revenue business rather than a one-time drug launch. Watch for the FDA action Thursday or shortly after, and for launch timing and reimbursement commentary on the next Lantheus call.

Major Economic Events:

July CPI Wednesday and July retail sales Friday.

Monday (8/10): CB Employment Trends Index, 3-month and 6-month Treasury bill auctions

Tuesday (8/11): NFIB Small Business Optimism Index, Weekly ADP employment change, Redbook retail sales, Existing home sales, Total household debt, 6-week bill auction, 3-year note auction, API crude oil stocks

Wednesday (8/12): MBA mortgage applications, July Consumer Price Index, Monthly Treasury budget statement, EIA petroleum inventories, 17-week bill auction, USDA WASDE report, 10-year note auction

Thursday (8/13): Initial jobless claims, Continuing claims, July Producer Price Index, EIA natural gas storage, 4-week and 8-week bill auctions, 30-year bond auction, Cleveland Fed President Beth Hammack speaks, Richmond Fed President Tom Barkin speaks

Friday (8/14): July retail sales, Business inventories, University of Michigan consumer sentiment (preliminary), Retail inventories, Baker Hughes rig count

What We’re Watching:

1. July Consumer Price Index

Friday changed what this print means. Nonfarm payrolls fell 23,000 in July against a consensus of +80,000, May and June were revised down by a combined 103,000, and the three-month average job gain is now just 20,000. The unemployment rate ticked down to 4.1%, but only because 264,000 people left the labor force and participation fell to 61.4%, a near five-and-a-half-year low. Average hourly earnings rose 2 cents to $37.62, taking annual wage growth to 3.2% — a five-year low that now runs below inflation.

That reframes Wednesday entirely. June CPI came in at 3.5% headline and 2.6% core, both undershooting badly, with the headline falling 0.4% month over month on a 9.7% drop in gasoline. Consensus for July is +0.1% month over month and 3.4% year over year on the headline, with core at +0.2% and 2.5%. Pantheon Macroeconomics expects core goods to rise 0.18%, the biggest monthly gain since September, partly because Apple raised hardware prices 15% to 30% effective June 25, offset by airline fares down 1.5% and hotel prices down 1.0%.

The July 29 FOMC held at 3.50% to 3.75% in a 9-3 vote, with Beth Hammack, Neel Kashkari, and Lorie Logan all dissenting in favor of an immediate hike. After Friday, CME FedWatch odds of a September hike fell from roughly 55% to about 42%, with hold odds near 58%. A hot core print revives the hawks and hands Hammack a live argument to make on Thursday. A soft one confirms the labor market is cracking faster than inflation is falling, and puts a genuinely awkward question in front of Chair Kevin Warsh three days before he loses another month of data.

Economists expect the following this week:

• Headline CPI: +0.1% MoM expected vs. -0.4% prior

• Headline CPI: 3.4% YoY expected vs. 3.5% prior

• Core CPI: +0.2% MoM expected vs. 0.0% prior

• Core CPI: 2.5% YoY expected vs. 2.6% prior

2. July Retail Sales 

Retail sales is the last hard read on the consumer before the September 16 FOMC, and it arrives two days after CPI and one day after PPI in an unusually dense back half of the week. June's report was steady but unremarkable: headline up 0.2%, ex-autos down 0.2%, ex-autos and gas up 0.4%, and the control group up 0.5%. The soft spot was gasoline stations, where spending fell alongside pump prices, while the rest of the basket held.

Consensus for July is +0.2% on the headline, +0.2% ex-autos, and +0.3% on the control group, with year-over-year growth cooling to 6.0% from 6.7%. The Chicago Fed's advance retail trade indicator points to +0.1% ex-autos and essentially flat in inflation-adjusted terms, which is the more useful framing: nominal spending that only keeps pace with prices is not a growing consumer.

The setup matters more than the number. If retail sales come in soft alongside a benign CPI, the case for a September hold gets close to airtight and the conversation shifts to whether the Fed is already behind on the labor side. If the consumer holds up while hiring stalls, the hawks keep their argument that above-target inflation demands tightening and the September meeting stays genuinely contested. Watch the control group, which feeds directly into GDP, and watch whether the wage slowdown to 3.2% is starting to show up in what people actually spend.

Economists expect the following this week:

• Headline retail sales: +0.2% MoM expected vs. +0.2% prior

• Retail sales: 6.0% YoY expected vs. 6.7% prior

• University of Michigan consumer sentiment: 54.6 expected vs. 55.2 prior

Don’t follow us on social yet? Follow us on Instagram, TikTok, and Twitter.

Grit is a publisher of financial information, not an investment advisor. Grit does not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient. Grit does not guarantee the accuracy or completeness of the information provided in this page. All statements and expressions herein are the sole opinion of the author or paid advertiser.

Cover Image Source: Derrek Lee / Android Central

THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME. THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN. INVESTORS SHOULD OBTAIN INDIVIDUAL INVESTMENT ADVICE BASED ON THEIR OWN CIRCUMSTANCES BEFORE MAKING AN INVESTMENT DECISION

No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.

The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.

Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable. They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein. The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and Grit undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.

Grit does not accept any liability whatsoever for any direct or consequential loss, however arising, directly or indirectly, from any use of the information contained herein.

By using the Site or any related social media account, you are indicating your consent and agreement to this disclaimer and our terms of use. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.

Please read: Terms of Use, Privacy Policy, Disclosure Policy and Disclaimer Policy

If you have any questions please contact us at [email protected]