Morning movers: Digital Turbine jumps 27.9%

Today's Morning Read covers futures, rates and the calendar, including AMD's quarter. This brief uses delayed pre-market quotes from Nasdaq at 05:35 ET on 5 August 2026, checked against TradingView at 05:40 ET.

APPS: +27.87% as growth broadens and guidance rises

Digital Turbine reported $166.0 million of fiscal Q1 2027 net revenue, up 27% year over year. Adjusted EBITDA rose 69% to $42.5 million, while the company still recorded a $3.2 million GAAP net loss. Its App Growth Platform segment grew 56%. Management raised its fiscal 2027 outlook to $650–$670 million of revenue and $145–$155 million of adjusted EBITDA. MarketBeat independently restated those figures after the call; adjusted measures follow management's definitions.

The objective levels are the $9.51 prior close and the $12.1062–$12.44 delayed pre-market range. The move reflects faster app-platform growth and a higher annual outlook, not a completed turnaround. The main risk is that a nearly 28% gap prices in faster execution before GAAP profitability is established.

ANET: +13.95% after its first $3 billion quarter

Arista Networks reported Q2 revenue of $3.036 billion, up 37.7% year over year and 12.1% from Q1. GAAP diluted EPS was $0.95; non-GAAP diluted EPS was $1.02. GAAP operating margin reached 45.4%, while the adjusted margin was 49.9%. CNBC independently reported revenue near $3.04 billion and adjusted EPS of $1.02, and tied the after-hours rise to results and guidance above its cited consensus.

The objective levels are the $190.51 prior close and the $213.14–$218.42 delayed pre-market range. The result strengthens the AI and data-centre networking demand story, but a strong margin and a double-digit gap can raise the valuation bar. The main risk is that customers' infrastructure spending or delivery timing fails to match the first reaction.

UPST: +11.64% as originations rise 50% and GAAP profit returns

Upstart reported $4.2 billion of Q2 originations, up 50%, across 558,014 loans, also up 50%. Total revenue was $365 million, up 42%, and fee revenue was $348 million, up 45%. GAAP net income reached $16.5 million, compared with $5.6 million a year earlier. StockStory independently reported $364.7 million of revenue, up 41.7%, and $4.23 billion of transaction volume; the small differences reflect rounding.

The objective levels are the $30.32 prior close and the $33.66–$34.47 delayed pre-market range. The positive mechanism is more loans and fees flowing through the platform while profit stays positive. The main risk is that funding appetite, delinquencies or macro-sensitive credit conditions weaken after a high-growth quarter.

Also on the radar

• AMPX +9.16% at $11.80 near 05:40 ET: Amprius reported Q2 revenue of $34.0 million, up 126%, and raised its 2026 revenue outlook to at least $140.0 million. Its smaller capitalization and battery-execution risk keep it radar-only.
• CPNG -4.65% at $16.00 near 05:40 ET: Coupang reported Q2 net revenue of $8.9 billion, up 4%, but a $556 million operating loss that included about $410 million of administrative fines in Korea.

What to watch today

• 09:30 ET: compare the opening auction with the delayed snapshot; regular-session liquidity can reset every pre-market gap.
• APPS: test whether the market holds the higher $650–$670 million revenue outlook while still recognizing the $3.2 million GAAP loss.
• ANET: watch whether the first $3.036 billion quarter broadens into networking peers or remains issuer-specific.
• UPST: separate the 50% origination growth from funding and credit-cycle risk.
• After the open: rebuild exact option bid, ask, open interest, volume and implied volatility before drawing any wheel conclusion.