Morning movers: HubSpot slides 23.1% as growth guidance slows

Today's Morning Read covers futures, rates and the calendar. This stock-only brief uses delayed Nasdaq pre-market quotes at 05:35 ET on 6 August 2026, independently checked against TradingView near 05:35 ET.

HUBS: -23.09% as the growth bar moves higher

HubSpot reported $911.7 million of Q2 revenue, up 20% as reported and 17% in constant currency. GAAP operating income improved to $43.3 million from a $24.6 million loss. MarketBeat independently listed revenue of $911.74 million versus a $898.31 million consensus and non-GAAP EPS of $3.26 versus $3.02.

The objective levels are the $250.21 prior close and the $188.09-$198.51 delayed pre-market range. The mechanism is a reset in forward growth expectations despite better margins. The main risk to the bearish first reaction is that investors refocus on the revenue beat, profitability and the new $1.0 billion repurchase authorization.

FLNC: -17.64% after production delays cut the outlook

Fluence Energy reported fiscal Q3 revenue of $649.8 million, up from $602.5 million, but GAAP gross margin fell to 5.1% from 14.8%. The company posted a $44.3 million quarterly net loss and said production and construction delays would move about $400 million of deliveries into fiscal 2027. Yahoo Finance independently reported the same revenue, delay and guidance cut.

The objective levels are the $14.23 prior close and the $10.99-$12.00 delayed pre-market range. The move targets execution rather than demand: order intake exceeded $1.44 billion, yet manufacturing delays blocked revenue recognition. Fluence’s conference call begins at 08:30 ET; commentary can change the setup before the open.

IONQ: +8.46% after revenue nearly quadruples

IonQ reported record Q2 revenue of $80.1 million, up 287% year over year. It raised full-year 2026 revenue guidance to $280-$290 million from $260-$270 million. Benzinga independently reported $80.05 million of revenue versus a $49.74 million estimate and the same new outlook. This is new earnings evidence since its 4 August feature.

The objective levels are the $39.93 prior close and the $40.30-$44.16 delayed pre-market range. The positive mechanism is faster commercial deployment and a higher annual revenue range. The main risk is that valuation depends on converting rapid percentage growth into durable cash economics while acquisition integration raises complexity.

Also on the radar

• SOUN +22.55% at $7.88 near 05:35 ET: SoundHound reported Q2 revenue of $61.9 million, up 45%, and raised its 2026 range to $230-$260 million; the sub-$10 price and continuing $42.8 million GAAP loss keep it off the featured list.
• APP -14.72% at $356.30 near 05:35 ET: AppLovin reported Q2 revenue of $1.924 billion, up 53%, and Q3 guidance of $2.055-$2.085 billion; the sharp reaction after a high-growth quarter shows how demanding the expectations bar remains.

What to watch today

• 08:30 ET: Fluence’s earnings call may clarify the $400 million delivery shift, factory ramp and margin path.
• 09:30 ET: compare the opening auction with this delayed snapshot; regular-session liquidity can reset every gap.
• HUBS: watch whether $188.09-$198.51 holds after the 14% Q3 growth guide is digested.
• IONQ: separate the 287% revenue growth from acquisition-related costs and post-earnings volatility.
• After the open: rebuild exact option bid, ask, volume, open interest and implied volatility; no pre-market stock print is an executable options setup.