• Nvidia sales double on AI boom: Nvidia (NVDA) posted $96B in Q2 revenue, more than doubling YoY, with data-center sales up 117% to $89B. It expects $108B next quarter, with shares surging 7% premarket. The tech giant is also buying AI firm Hugging Face for $12.9B. Sources: BBC / The Information / CNBC.
• Meta settles addiction claims: Meta (META) agreed to pay up to $17.1B to settle claims that it deliberately hooked children and teens to its platforms, agreeing to impose time limits and other safeguards. Shares rose 1%. Sources: NY Times / The Verge.
• Trian drops Wendy’s bid plans: Trian scrapped its plans to take Wendy’s (WEN) private, despite owning about 16% of the company. Wendy's plunged 13% premarket on the news. Source: Reuters.
• HP falls on PC weakness: HP (HPQ) posted Q3 revenue of $15.68B, up 13%, as higher pricing offset a 16% drop in PC unit sales. It raised full-year EPS and free-cash-flow guidance but warned memory costs will pressure Q4 margins. Shares plummeted 11% premarket. Source: WSJ.
• Apple announces launch event: Apple (AAPL) will hold a Sept. 9 product event, where it is expected to unveil its first foldable iPhone. The event will mark CEO John Ternus’s first major launch after succeeding Tim Cook. Shares fell 1% premarket. Source: CNN.
• Best Buy raises outlook: Best Buy (BBY) beat Q2 estimates as comparable sales rose 4.1%, led by computing. It raised full-year revenue guidance to $42.3–$42.8B and adjusted EPS to $6.70–$6.90. Shares fell 2.6% premarket. Source: CNBC.
• Google's AI shakeup: Google (GOOGL) is moving its roughly 90-person AI responsibility unit out of DeepMind into global affairs, prompting concerns over research independence. Simultaneously, Thinking Machines Lab cofounder Barret Zoph is joining DeepMind as VP of Research. Shares fell 1.4%. Sources: WSJ / Reuters.

• FDA greenlights pancreatic cancer drug: The FDA approved Revolution Medicines’ (RVMD) drug for previously treated pancreatic cancer after it nearly doubled median survival rates. Analysts see potential annual sales above $20B, with shares up 3.6% premarket. Source: WSJ.
• Novo advances in China: Chinese regulators accepted Novo Nordisk’s (NVO) oral Wegovy application, expanding its presence in the country's market. All the same, shares fell 2% premarket. Source: Reuters.
• Asthma medicine succeeds in trial: AstraZeneca (AZN) and Amgen (AMGN) met all primary goals in a late-stage trial for their new asthma drug. Still, shares of each company dropped 1% premarket. Source: Reuters.

• Victory Capital gains on buyout: Victory Capital (VCTR) agreed to buy First Eagle for $7B, creating an asset manager with roughly $571B in client assets. Shares rose 4.6%. Source: WSJ.
• Vanguard buys Altruist: Vanguard will acquire fintech platform Altruist for $4B, accelerating its push into wealth management and financial advice. Vanguard will keep Altruist as a standalone business. Source: WSJ.
• Nexa falls on majority-stake deal: Sweden’s Boliden (STO:BOL) agreed to buy a 65% stake in mining giant Nexa (NEXA) for $1.31B, valuing Nexa at about $2.03B and strengthening Boliden’s global zinc and silver exposure. Nexa fell 1% premarket. Source: WSJ.

• Growth holds at 1.5%: The latest estimate for U.S. Q2 GDP growth was unchanged at a 1.5% annualized rate, with consumer spending and AI investment supporting activity. Private domestic demand was revised up to 4.2%. Source: WSJ.
• U.S. profit margins hit record: U.S. corporate profits rose nearly 10% in Q2, lifting after-tax profit margins to 19.4% — the highest level since records began in the 1940s. The uptick was due partly to companies passing higher prices onto resilient consumers. Source: Bloomberg.
• Durable goods beat: U.S. durable-goods orders rose 1.1% in July to $339.3B, more than double the 0.5% forecast. The uptick was led by a 2.3% gain in transportation equipment. Source: WSJ.
• Jobless claims: Seasonally adjusted initial jobless claims totaled 203,000 for the week ending Aug. 22, down 4,000 WoW. The 4-week moving average was 205,500, up 1,250 WoW. Source: Dept. of Labor.
• Chinese profit growth cools: China’s industrial profits rose 11.2% in July, the slowest pace this year, as weak demand and softer property and infrastructure investment offset strength in AI-related electronics and raw materials. Source: CNBC.

• Nepal and Tibet death toll increases: At least 270 people have died, and more than 1,500 are missing, after a glacial collapse triggered catastrophic floods along the Nepal-Tibet border. Source: NPR.
• Qatar seeks Iran de-escalation: Qatar’s prime minister is visiting Tehran today to push for de-escalation as another tanker attack keeps Strait of Hormuz traffic far below prewar levels. Source: CNBC.
• CIA warns Russia on NATO: CIA Director John Ratcliffe visited Moscow to warn Russia against attacking NATO after U.S. intelligence assessed Putin could test the alliance with a limited assault. Source: WSJ.
• Saudi nuclear deal advances: The Trump admin. sent a Saudi civil nuclear deal to Congress that could permit uranium enrichment there. The deal takes effect in 90 days unless Congress rejects it. Source: CNN.
• China-linked hacking operation: The Justice Department seized domains tied to Chinese hacking platforms used in intrusions or attempted breaches at the Fed, NASA, the Senate, and other sensitive networks. U.S. officials say the campaign dates to at least 2018. Source: Reuters.
• ICE arrests surge nationwide: ICE arrests hit records of 43,000 in June and 49,000 in July, increasingly including people with no criminal history. Expanded staffing, detention capacity, and local police partnerships are accelerating enforcement. Source: NY Times.
• Gates warns of AI risks: Bill Gates says the tech industry is downplaying AI threats, including mass unemployment and bioterrorism, as investment surges. He is calling for AI-use taxes, limits on job replacement, and mandatory safeguards for high-risk systems. Source: NY Times.

• 8:30 AM: Goods Trade Balance
• 8:30 AM: Retail Inventories Excl. Autos MoM Adv.
• 8:30 AM: Wholesale Inventories MoM Adv.
• 8:30 AM: Initial Jobless Claims
• Friday: Fed Chair Warsh Speech, Non Farm Payrolls Annual Revision Prelim.

NVIDIA (NVDA) has released its quarterly earnings.

• Revenue of $96.22B (+105.85% YoY) beats by $4.11B.
• EPS of $2.22 (+119.80% YoY) beats by $0.13.
• Financials · As Reported · Metrics · Press Release

CrowdStrike (CRWD) has released its quarterly earnings.

• Revenue of $1.47B (+25.83% YoY) beats by $32.33M.
• EPS of $0.31 (+34.78% YoY) beats by $0.07.
• Financials · As Reported · Metrics · Press Release

Salesforce (CRM) has released its quarterly earnings.

• Revenue of $11.35B (+10.83% YoY) beats by $27.54M.
• EPS of $5.90 (+102.75% YoY) beats by $2.81.
• Financials · As Reported · Metrics · Press Release

Synopsys (SNPS) has released its quarterly earnings.

• Revenue of $2.48B (+42.43% YoY) beats by $37.78M.
• EPS of $3.91 (+15.34% YoY) beats by $0.44.
• Financials · As Reported · Metrics · Press Release

Agilent Technologies (A) has released its quarterly earnings.

• Revenue of $1.88B (+8.06% YoY) beats by $36.81M.
• EPS of $1.62 (+18.25% YoY) beats by $0.14.
• Financials · As Reported · Metrics · Press Release

Everpure (P) has released its quarterly earnings.

• Revenue of $1.19B (+37.75% YoY) beats by $86.44M.
• EPS of $0.70 (+62.79% YoY) beats by $0.20.
• Financials · As Reported · Metrics · Press Release

HP Inc. (HPQ) has released its quarterly earnings.

• Revenue of $15.68B (+12.53% YoY) beats by $1.25B.
• EPS of $0.83 (+10.67% YoY) beats by $0.15.
• Financials · As Reported · Metrics · Press Release

Royal Bank of Canada (RY) has released its quarterly earnings.

• Revenue of $13.28B (+7.44% YoY) beats by $382M.
• EPS of $3.07 (+10.04% YoY) beats by $0.18.
• Financials · As Reported · Metrics · Press Release

Canadian Imperial Bank of Commerce (CM) has released its quarterly earnings.

• Revenue of $6.05B (+14.49% YoY) beats by $232M.
• EPS of $1.97 (+25.48% YoY) beats by $0.17.
• Financials · As Reported · Metrics · Press Release

Dollar Tree (DLTR) has released its quarterly earnings.

• Revenue of $4.89B (+7.01% YoY) beats by $43.81M.
• EPS of $1.39 (+80.52% YoY) beats by $0.36.
• Financials · As Reported · Metrics · Press Release

The Gap (GAP) will report today after close.

• Analysts estimate revenue of $3.79B (+1.70% YoY).
• EPS is estimated to be $0.52 (-8.77% YoY).
• Financials · As Reported · Metrics

Autodesk (ADSK) will report today after close.

• Analysts estimate revenue of $2.01B (+14.10% YoY).
• EPS is estimated to be $2.97 (+13.36% YoY).
• Financials · As Reported · Metrics

Workday (WDAY) will report today after close.

• Analysts estimate revenue of $2.63B (+12.19% YoY).
• EPS is estimated to be $2.34 (+5.88% YoY).
• Financials · As Reported · Metrics

Electronic Arts (EA) will report Saturday.

• Analysts estimate revenue of $1.46B (+12.44% YoY).
• EPS is estimated to be $0.81 (+224.00% YoY).
• Financials · As Reported · Metrics

Broadcom (AVGO) will report Wednesday.

• Analysts estimate revenue of $29.44B (+84.56% YoY).
• EPS is estimated to be $3.16 (+86.98% YoY).
• Financials · As Reported · Metrics

Hewlett Packard Enterprise (HPE) will report Wednesday.

• Analysts estimate revenue of $11.95B (+30.76% YoY).
• EPS is estimated to be $0.91 (+106.82% YoY).
• Financials · As Reported · Metrics

NetApp (NTAP) will report Wednesday.

• Analysts estimate revenue of $1.84B (+17.85% YoY).
• EPS is estimated to be $2.04 (+31.61% YoY).
• Financials · As Reported · Metrics

• There are no remaining IPOs expected this week. To see all upcoming IPOs, check out our IPO calendar.