After a week dominated by mega-cap earnings, with Microsoft Corp. (NASDAQ:MSFT) and Amazon.com Inc. (NASDAQ:AMZN) sharply exceeding expectations while Apple Inc. (NASDAQ:AAPL) and Meta Platforms Inc. (NASDAQ:META) were punished over margin concerns, the first week of August brings a different cast.
Novo Nordisk A/S (NYSE:NVO) and Eli Lilly Co. (NYSE:LLY) headlines the GLP-1 franchise, while SanDisk Corp. (NASDAQ:SNDK) and Western Digital Corp. (NASDAQ:WDC), two of the most watched memory names, sit at the top of the volatility table.
Screening Benzinga Pro data for U.S.-listed companies worth more than $50 billion, these are the 10 largest implied movers of the week.
Which Stocks Could Swing The Most This Week?
The implied move is the percentage change that options markets expect a stock to make over a specific period, in this case around an earnings announcement, based on current option prices.
10. Constellation Energy: 9.00% Implied Move
The nuclear power producer reports Aug. 6 before the open. Analyst consensus calls for $7.95 billion in revenue and earnings at $2.42 per share.
Watch new power purchase agreements with data center customers, nuclear output and the Calpine integration.
Constellation Energy Corp. (NASDAQ:CEG) heads into the print down 25.5% for 2026.
9. Petrobras: 9.58% Implied Move
The Brazilian oil major reports Aug. 6 after the close. Watch production volumes, refining margins with Brent near $90 and the size of the next dividend declaration.
Petróleo Brasileiro S.A. (NYSE:PBR) has climbed 51.4% since January.
8. Novo Nordisk: 9.65% Implied Move
The GLP-1 drugmaker reports Aug. 5 before the open. Analysts model $11.35 billion in revenue and earnings of 81 cents per share.
Wegovy and Ozempic prescription trends, supply and competition from Eli Lilly are the swing factors.
Novo Nordisk A/S (NYSE:NVO) is off 7.8% on the year.
7. DoorDash: 10.12% Implied Move
The food delivery platform reports Aug. 5 after the close. Consensus sits at $4.33 billion in revenue and earnings of 45 cents per share.
Total orders, gross order value and the pace of grocery and new-vertical growth are what matters.
DoorDash Inc. (NASDAQ:DASH) has slipped 13.5% in 2026.
6. Shopify: 12.47% Implied Move
The e-commerce platform reports Aug. 6 before the open. Analysts expect $3.44 billion in revenue and earnings of 40 cents per share.
Gross merchandise volume, take rate and operating margin drive the reaction.
Shopify Inc. (NYSE:SHOP) sits 26.5% lower year to date.
5. Cloudflare: 12.68% Implied Move
The connectivity and security company reports Aug. 6 after the close. Analyst consensus calls for $665.50 million in revenue and earnings of 27 cents per share.
Large-customer additions, net revenue retention and traction in AI inference products are the levers.
Cloudflare Inc. (NYSE:NET) has gained 42.4% this year.
4. Datadog: 12.88% Implied Move
The observability software firm reports Aug. 6 before the open. Analysts model $1.08 billion in revenue and earnings of 59 cents per share.
Net revenue retention, large-customer growth and AI-native customer contribution are the tell.
Datadog Inc. (NASDAQ:DDOG) has nearly doubled in 2026, up 99.9%.
3. AppLovin: 12.96% Implied Move
The mobile advertising company reports Aug. 5 after the close. Consensus sits at $1.94 billion in revenue and earnings at $3.72 per share.
Advertising engine revenue, the e-commerce ad rollout and EBITDA margin drive the move.
AppLovin Corp. (NASDAQ:APP) has lost 42.1% year to date, the worst performer on this list.
2. Western Digital: 13.39% Implied Move
The hard drive maker reports Aug. 5 after the close. Analysts expect $3.69 billion in revenue and earnings at $3.29 per share.
Nearline drive demand from data centers, exabyte shipments and pricing set the tone for the standalone HDD business.
Western Digital Corp. (NASDAQ:WDC) has more than tripled, up 222.2% for the year.
1. SanDisk: 17.47% Implied Move
The memory chip maker reports Aug. 5 after the close. Analysts model $8.39 billion in revenue and earnings at $34.45 per share.
NAND pricing, enterprise SSD demand for AI and gross margin are what the market is pricing.
Up 423.2% in 2026, SanDisk Corp. (NASDAQ:SNDK) towers over the rest of this group.
