Wednesday brings 179 companies to the earnings stage, anchored by Cisco and Nebius, while several names that already reported this week — CoreWeave, Rocket Lab, and Lumentum among them — remain the ones traders are actually watching as their post-earnings reactions continue to shake out. Here are 10 stocks to watch tomorrow, August 12, 2026.

Stocks to watch tomorrow, August 12, 2026:

1. Nebius Group (NBIS) | A 125%+ YTD Neocloud Reports After the Close

Full Data Snapshot:

The Catalyst: Nebius reports Q2 2026 results Wednesday after the close, with Wall Street expecting a wider per-share loss but significant revenue traction as the AI cloud infrastructure provider continues expanding capacity. Citi lowered its price target on the stock recently but maintained a Buy rating, citing continued constructive views on the “neocloud” opportunity despite recent sector weakness.

Bull Case: A 125-165% year-to-date rally reflects genuine investor conviction in Nebius’s AI infrastructure buildout story, and analysts widely expect the company to show the stronger year-over-year performance of the two major neocloud reporters this week (versus CoreWeave).

Bear Case: A widening loss per share of 90% year-over-year underscores the immense capital intensity of the neocloud business model, and after such a dramatic YTD rally, any guidance disappointment carries substantial downside risk given how much good news is already priced in.

Forecast: Watch specifically for commentary on 2026 capacity expansion targets; investors will be looking for confirmation that growth targets remain on track after CoreWeave’s mixed reaction Tuesday.

2. CoreWeave Inc. (CRWV) | Volatility Continues After a $740M Loss Quarter

Full Data Snapshot:

The Catalyst: CoreWeave reported Tuesday after the close, with shares remaining roughly 52% below their 52-week high even after a relief rally, as the AI cloud provider’s $99.4 billion backlog continues to face scrutiny against a widening net loss and rapidly rising interest expense, which doubled to $536 million as CapEx hit $7.7 billion in a single quarter. Management did not issue formal forward guidance.

Bull Case: A backlog approaching $100 billion, anchored by Meta’s $21 billion commitment, gives CoreWeave extraordinary revenue visibility if it can convert that backlog into recognized revenue without further margin erosion.

Bear Case: Customer concentration remains a serious structural risk — 65% of revenue still comes from just two customers — and rapidly escalating interest expense alongside a lack of formal guidance leaves investors with limited visibility into when losses will begin narrowing.

Forecast: Watch the $90.67 level as near-term resistance; a sustained move above it would suggest Tuesday’s post-earnings bounce has real staying power rather than being a single-session relief rally.

3. Rocket Lab Corp (RKLB) | Record Results, Falling Stock

Full Data Snapshot:

The Catalyst: Rocket Lab delivered record quarterly results but shares fell anyway, as investors had set an unusually high bar heading into the report and wanted more than the company — despite beating on most fronts — was able to deliver. The stock’s inclusion in the Nasdaq-100 index in June had already driven substantial gains ahead of this report.

Bull Case: Growing commercial and government launch contracts, combined with sustained investor interest in the broader space economy, continue supporting Rocket Lab’s underlying growth story even after today’s disappointing stock reaction to otherwise strong numbers.

Bear Case: A “sell the news” reaction to genuinely record results signals extremely high embedded expectations, and the space economy sector broadly has swung from “jubilation to skepticism” following a separate high-profile space stock’s disappointing results earlier this month.

Forecast: Watch whether the stock stabilizes over the next session; a “good quarter, bad stock reaction” pattern like this often resolves within a few days once the market fully digests the details behind the headline numbers.

4. Lumentum Holdings (LITE) | A Record Quarter Meets a 94%+ YTD Rally

Full Data Snapshot:

The Catalyst: Lumentum entered its earnings report up as much as 94% year-to-date with a record $808 million revenue quarter, with investors closely watching commentary on a substantial co-packaged optics (CPO) order expected in the first half of 2027 as validation of continued AI datacom demand.

Bull Case: A record revenue quarter combined with visibility into a major 2027 order gives Lumentum unusually strong forward revenue clarity for an AI infrastructure component supplier, supporting the case that this year’s rally reflects genuine fundamental improvement rather than pure multiple expansion.

Bear Case: After such a dramatic year-to-date rally, Lumentum’s report tests whether “hypergrowth demand is already priced in” — the same question facing every AI infrastructure name reporting this week, and any softness in forward datacom bookings could trigger an outsized pullback.

Forecast: Watch for confirmation details on the H1 2027 CPO order’s size and customer; specificity here would likely be read as a bullish signal given how central that order has become to the bull case.

5. Coherent Corp (COHR) | Chasing a Fifth Straight Earnings Beat

Full Data Snapshot:

The Catalyst: Coherent, a photonics and optical components maker, carries the widest expected earnings-reaction swing of any major stock reporting this week, as the company attempts to extend its streak to a fifth consecutive quarterly beat amid continued strong AI datacom and networking component demand.

Bull Case: A 105% year-to-date rally built on four straight earnings beats gives Coherent one of the strongest recent execution track records in the AI infrastructure supply chain, and continued beats would reinforce the durability of optical component demand.

Bear Case: The market’s own pricing of an unusually wide implied move signals genuine uncertainty about whether the beat streak can continue — after four consecutive beats, expectations have risen accordingly, raising the bar for what counts as a “good” quarter.

Forecast: With options markets pricing double-digit-percentage volatility around this report, expect a sharp single-session move in either direction; the direction will likely hinge on gross margin trends as much as the headline beat itself.

6. GoPro Inc. (GPRO) | Sale Talks Remain the Dominant Story

Full Data Snapshot:

The Catalyst: GoPro’s strategic sale process, now confirmed to be in its “later stages” with interest spanning defense, consumer, and financial sector buyers, remains the dominant story overshadowing the company’s Q2 revenue miss reported this week — a dynamic likely to persist into Wednesday’s session absent a formal deal announcement.

Bull Case: Multi-sector buyer interest at a market cap this small gives shareholders real takeover-premium upside if a deal materializes at any reasonable multiple above the current sub-$1 share price.

Bear Case: Without a signed agreement, the core camera business continues showing revenue deterioration, and prolonged “later stages” language without a formal announcement risks investor fatigue if the process drags on.

Forecast: Any formal 8-K filing disclosing a definitive agreement remains the single biggest catalyst to watch for; absent that, expect continued speculative trading around sale-process headlines.

7. SELLAS Life Sciences Group (SLS) | Positioning Continues Ahead of AML Data

Full Data Snapshot:

The Catalyst: Following this week’s Q2 earnings report, investor attention remains focused on Sellas’s pivotal Phase 3 AML trial readout for SLS009 (tambiciclib), with continued institutional accumulation — including a 70% stake increase from New York State’s pension fund — suggesting informed money is positioning ahead of the data.

Bull Case: Sustained institutional buying ahead of a binary clinical catalyst, combined with a strong $138.3 million cash position, suggests the market sees genuine asymmetric upside in the AML trial outcome.

Bear Case: Biotech names with pending binary catalysts remain vulnerable to sharp swings on any pre-data sentiment shifts, and Sellas has already shown double-digit percentage moves in both directions over the past two weeks without any actual trial data yet released.

Forecast: With no confirmed data readout date yet for Wednesday specifically, expect continued speculative positioning rather than a data-driven move; watch for any updated trial timeline guidance from recent earnings call commentary.

8. Babcock & Wilcox Enterprises (BW) | AI Power Pivot Momentum Continues

Full Data Snapshot:

The Catalyst: Following its $50 million buyback authorization and TerraSpark AI data center power collaboration announced this week, Babcock & Wilcox’s transition narrative from legacy power technology toward AI infrastructure power generation remains a live story heading into Wednesday, with the company’s $61.4 million note redemption scheduled to complete August 13.

Bull Case: A strengthening balance sheet combined with growing AI data center-related backlog gives BW’s turnaround story real substance beyond pure sentiment, with the stock still trading 59% below its 52-week high.

Bear Case: Ongoing securities class action investigations from multiple law firms remain an overhang, and the company’s negative P/E ratio confirms it remains unprofitable despite the improving narrative.

Forecast: Watch for the successful completion of the August 13 note redemption as a near-term confidence signal; any complications there would undercut the balance-sheet improvement narrative currently supporting the stock.

9. Kratos Defense & Security Solutions (KTOS) | Extending a Contract-Driven Rally

Full Data Snapshot:

The Catalyst: Kratos continues riding a six-day, 31% winning streak fueled by successive defense contract wins — a fresh Army contract August 6 followed by a new role in a Missile Defense Agency joint flight experiment this week — with investors watching for whether the news flow continues into Wednesday.

Bull Case: Consistent, verifiable contract wins rather than pure speculation continue driving this rally, and the stock remains well below its 52-week high of $134, leaving room to run if the news flow persists.

Bear Case: After a 31% six-day move, the stock is statistically due for consolidation, and Stifel’s recent target trim (even while maintaining its Buy rating) suggests some tempering of near-term enthusiasm.

Forecast: Watch whether KTOS holds above the $58 zone that marked this rally’s starting point; continued contract announcements would be needed to sustain momentum toward the $70+ level.

10. Cisco Systems (CSCO) | An 8%+ Implied Move on Fiscal Q4 Earnings

Full Data Snapshot:

The Catalyst: Cisco reports fiscal Q4 2026 results Wednesday after the close, with UBS reiterating a Buy rating ahead of the print, citing accelerating AI infrastructure demand from hyperscalers and neoclouds supporting both networking revenue and product orders. The company has already disclosed $2.1 billion in AI infrastructure orders from hyperscalers this fiscal year and expects to exceed $5 billion in AI orders overall.

Bull Case: A 59% year-to-date rally reflects genuine AI infrastructure order momentum layered on top of Cisco’s traditional networking business, and if fiscal 2027 guidance confirms continued AI order acceleration, the stock could push toward the average analyst target of $136.23.

Bear Case: With options pricing an 8.21% implied move — above the historical average of 7.75% — the market expects an unusually large reaction, and any signs of margin pressure from elevated component and memory costs could weigh heavily on sentiment despite the strong top-line growth story.

Forecast: With a potential trading range of roughly $111 to $131 implied by options markets, this is one of the largest-magnitude moves expected among mega-cap earnings this week — watch fiscal 2027 guidance and AI order backlog commentary as the key swing factors.

Quick-Reference Table: 10 Stocks to Watch on August 12

Sector Sentiment Snapshot and Forecast

Wednesday’s slate is dominated by a single overarching question facing the entire AI infrastructure complex: is hypergrowth demand already fully priced in? Nebius and Cisco both report fresh results, while CoreWeave, Rocket Lab, and Lumentum offer real-time case studies in how the market is currently punishing even record results that fall short of extremely elevated expectations — Rocket Lab’s “good quarter, falling stock” reaction is the clearest example. Meanwhile, smaller names like GoPro, Sellas, Babcock & Wilcox, and Kratos continue trading on company-specific catalysts largely independent of the broader AI infrastructure debate. With CPI data also on this week’s calendar, expect continued volatility across both groups as the market works through a historically dense stretch of earnings and macro catalysts simultaneously.

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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. Prices, technical levels, and figures cited reflect data available as of August 11, 2026 and are sourced from publicly available market data. Options-implied moves reflect market expectations of volatility magnitude, not direction. Always complete independent due diligence prior to executing equity trades.

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Kasia Davis

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