Thursday, August 6, 2026 is shaping up to be the single busiest earnings day of the week, with 577 companies scheduled to report according to Yahoo Finance’s earnings calendar. But the real story isn’t just the mega-cap names — it’s the collision of overnight earnings reactions, a pending FDA decision that’s already days overdue, and a handful of low-float small caps riding structural themes in AI power demand, semiconductors, and atmospheric water generation. Here are the Stocks to Watch Tomorrow – exactly what to watch when the bell rings tomorrow —

The Setup: What’s Moving Markets Into Thursday

• Wednesday night was an earnings bloodbath and bonanza rolled into one. SanDisk, Western Digital, and DoorDash all reported after Wednesday’s close, and their reactions will define Thursday’s opening tape for the memory-chip and gig-economy trades.
• A record earnings-growth season continues. FactSet data shows analysts estimate 47.5% year-over-year S&P 500 earnings growth this quarter, nearly triple the five-year average, keeping volatility elevated across every sector reporting this week.
• A binary biotech catalyst is now overdue. Replimune’s FDA decision on RP1 for advanced melanoma had a target action date of August 2 — meaning a ruling could land literally any day, including tomorrow.

#1 — DKNG (DraftKings) | Reports Thursday After Close

Previous Close: ~$21.75–$24.62 (range across recent sessions) | Reports: Aug 6, AMC

DraftKings has been sliding into its own earnings report, down roughly 18.5% over the past month even as peers in the gaming sector have been mixed.

What Wall Street Expects

The stock enters the print with an average analyst price target of $34.84, a massive gap versus where shares have traded recently. Peers have already set a cautious tone: Rush Street Interactive beat estimates by 7.1% but still traded down 13% on the news, while Churchill Downs met estimates and still fell 6.6% — suggesting the market wants more than an in-line quarter from this sector right now. Notably, investor Michael Burry disclosed a fresh stake in DraftKings just weeks ago, betting on the sector even amid the pullback. TD Cowen raised its price target to $35 from $30 ahead of the print, while Citizens JMP lifted its target to $36.

#2 & #3 — SNDK (SanDisk) and WDC (Western Digital) | The NAND Trade Reports Its Verdict

SanDisk closed Tuesday at $1,427.62, up 10.8% | Western Digital reports the same evening

These two memory-chip names reported after Wednesday’s close, and how their stocks settle by Thursday’s open will set the tone for the entire AI-memory trade.

SanDisk’s Extraordinary Setup

SanDisk shares are already 39% below their June high heading into the print, reflecting extreme volatility around the AI-memory narrative. The bull case hinges on NAND shortages and multi-year prepayment agreements making this memory cycle more durable than prior boom-bust cycles; the risk is that committed revenue from those contracts proves smaller or less profitable than investors are currently pricing in.

Western Digital reports the same evening and carries its own implied move, with analysts modeling $3.69 billion in revenue and $3.29 EPS — the standalone hard-drive business’s nearline exabyte shipments and pricing trends will be the key numbers to watch, given how closely WDC’s fortunes track SanDisk’s NAND read-through.

#4 — CEG (Constellation Energy) | The AI Power Trade Reports Before the Bell

Market Cap: ~$91 billion | Reports: Aug 6, Before Open

Constellation Energy, the largest private-sector power producer in the U.S., reports Thursday morning with the AI data-center power story squarely in focus.

Out of 22 analysts covering the stock, 16 rate it a “Strong Buy,” with an average price target of $358.45 implying roughly 41% upside from recent levels. Watch for updates on the Calpine acquisition integration, the status of the Three Mile Island nuclear restart, new data-center power purchase agreements, and whether management reaffirms its $5 billion share buyback authorization. Analysts have flagged a negative Earnings ESP heading into the print — a signal worth watching given the stock’s history of mixed reactions even on EPS beats.

#5 — DDOG (Datadog) | AI-Native Growth Meets a High Bar

Market Cap: ~$90.7 billion | Reports: Aug 6, Before Open

Datadog has exceeded Wall Street’s earnings estimate in each of its past four quarters, and Thursday’s report needs to keep that streak alive against an increasingly demanding setup.

Datadog’s Q1 report earlier this year triggered a massive rally after revenue and EPS both blew past estimates alongside raised full-year guidance. The key metrics to watch this time: net revenue retention, growth in customers spending over $100,000 annually (up 21% last quarter to roughly 4,550), and any update on AI-native customer contribution following the launch of new products like MCP Server and Bits AI Security.

#6 — DASH (DoorDash) | Already Reacting to a Beat-and-Drop Quarter

Reported: Aug 5, After Close | Revenue: $4.45 billion (beat)

DoorDash’s numbers are already out, and the stock’s reaction tells a familiar story for 2026 earnings season: a clean beat isn’t always enough.

Despite the top-line beat, shares dropped following the report — the market’s focus has shifted to Marketplace Gross Order Value guidance (previously set at $32.4–$33.4 billion for the quarter) and more than $50 million in gross costs tied to the company’s Dasher gas relief program. On a brighter note, DoorDash also secured FAA Part 135 certification for its DoorDash Air drone delivery initiative, a long-term margin lever that could reduce reliance on delivery labor over time. With 29 of 40 covering analysts still rating the stock “Strong Buy,” Thursday’s session will test whether that bullish consensus holds after a mixed print.

#7 — REPL (Replimune Group) | An FDA Decision That’s Already Overdue

Last Close: $12.04 | Market Cap: ~$1 billion | Catalyst: FDA decision on RP1

Replimune sits in one of the most tension-filled setups on this list: a binary FDA decision that was supposed to land by August 2 and simply hasn’t yet been confirmed, meaning it could hit at any moment — including during Thursday’s session.

• On July 30, the FDA’s Cellular, Tissue, and Gene Therapies Advisory Committee voted 10-3 that RP1’s IGNYTE trial efficacy data were “evaluable and clinically meaningful,” a genuinely bullish signal ahead of the final ruling.
• The Class 1 BLA resubmission target action date was August 2, 2026 — meaning every trading day from here forward carries decision risk.
• Wedbush maintained a cautious Neutral rating and $9 price target even after the favorable panel vote, specifically citing uncertainty around near-term approval timing.

“The market doesn’t care about your opinion, only your plan and your risk,” is how one trading strategist summarized the setup — a fitting reminder given how sharply clinical-stage biotech stocks can move on regulatory headlines with essentially no warning.

#8 — AXTI (AXT Inc) | The Lumentum Deal Keeps Paying Off

Last Close: $72.27 | Market Cap: ~$4.27 billion | 52-Week Range: $1.96–$143.16

AXT’s stunning 2026 turnaround — from a $1.96 low to a $143.16 high — continues to generate follow-through interest heading into Thursday, built on structural rather than speculative footing.

Needham (Buy, $90 target) and Wedbush (Outperform, $93 target) remain bullish, while options call volume has recently traded “directionally bullish” and above normal. The risk investors should weigh: trailing profit margins remain negative and the stock trades above 40x sales, meaning any stumble in indium phosphide demand could trigger an outsized pullback.

#9 — VOYG (Voyager Technologies) | Records Across the Board, Guidance Raised

Last Close: $34.71 | Market Cap: ~$1.98–$2.41 billion

Voyager Technologies’ Q2 report combined a headline EPS miss with genuinely strong underlying guidance — exactly the kind of report that can keep paying off in the days that follow as more analysts digest the details.

Management said revenue, bookings, and backlog all hit records in the quarter. Wolfe Research raised its target to $55 from $35, and BTIG initiated coverage with a Buy rating and $55 target. Recent contract wins include a $298 million NASA award and a Sandia National Laboratories agreement — though Morgan Stanley’s July downgrade to Underweight is a reminder that not every analyst is on board with the current valuation.

#10 — AIRJ (AirJoule Technologies) | A Pre-Revenue Bet on Water Scarcity

Last Close: $5.97 | Market Cap: ~$422.82 million | Next Earnings: Aug 21, 2026

AirJoule remains one of the more speculative names on this list — a pre-revenue atmospheric water generation company — but a recent commercial validation event keeps it firmly on watch lists heading into Thursday.

• The company’s partnership with Kubota is being called “a major validation” of its atmospheric water-from-air technology, though analysts caution “the hard part comes next” in converting validation into actual revenue.
• AirJoule Prime, the company’s largest system, was unveiled at its Newark, Delaware facility in late June and can generate up to 2,000 liters of pure water per day for industrial and data-center applications.
• The balance sheet remains solid for a pre-revenue company: $31.1 million in cash, zero debt, and liquidity guided to last through 2027.

The catch: desalination remains 5-10x cheaper than AirJoule’s current technology, and the company’s targeted 30-35% gross margins are still likely years away. This is a name for watching commercialization headlines rather than expecting near-term earnings catalysts, with the next confirmed data point not until the August 21 earnings report.

The Day’s Dominant Theme: Overnight Reactions Meet Fresh Catalysts

Three forces converge on Thursday’s session:

1. Wednesday’s after-hours reports (SNDK, WDC, DASH) will define the opening tape, particularly given how extreme the options-implied moves were heading into SanDisk’s print specifically.
2. The AI infrastructure trade keeps widening its footprint — from Constellation Energy’s nuclear power deals to Datadog’s AI-native customer growth to AXT’s indium phosphide supply chain, confirming this theme now touches utilities, software, and semiconductors alike.
3. Binary, event-driven setups (REPL, AIRJ) offer the highest risk and highest potential reward on this list — these are stocks where a single headline, not a quarterly trend, will determine the next major move.

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Disclaimer: This publication is entirely for informational and journalistic purposes and does not constitute formal financial, investment, or legal advice. All market investments carry inherent risks of capital loss. Always complete independent due diligence prior to executing equity trades.

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Kasia Davis

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