Owlet Inc (OWLT) News & EventsOWLTOwlet Inc

Major Averages Finish Near Flatline, Tech Stocks Weighed Down by Oracle

The major averages spent the morning in the red, but stocks pared losses later in the day and the S&P 500, Dow, and Nasdaq 100 finished not far from the flatline. Reports suggested that U.S. and Iranian negotiators were closer to agreeing on restoring tanker flows through the Strait of Hormuz, easing fuel prices and yields on shorter-dated maturities. A drop in Oracle shares weighed on the broader tech sector, balanced by renewed AI optimism following Meta's Muse product rollout event.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Metaannounced a series of new products, including Meta VR glasses, the Muse Charm device, and its first line of audio glassesQualcommrenewed its global patent license agreement with AppleStarbuckssaid it will close 250 coffeehouses later this weekDardenreported mostly in-line Q1 results and reiterated its FY27 earnings outlookPeople Incorporatedwithdrew its takeover bid for MGM Resorts, saying it "didn't feel the mix was coming together"2. WALL STREET CALLS:Alkamidouble downgraded to Underweight from Overweight at JPMorganJPMorgan upgraded CoreWeaveto Overweight on strong demandCiti downgraded Dropboxto Sell with too much AI success priced inDollar Generalupgraded to Buy at HSBC on recovery progressArgus cut Yum! Brandsto Hold on headwinds to profit target3. AROUND THE WEB:UBSis weighing a merger to relocate out of Switzerland, Semafor reportsGoldman Sachsearned more than $200M from AI hedge fund Situational Awareness, FT reportsAlibabais accelerating its data center expansion in Europe and the Middle East as part of its global infrastructure buildout, Bloomberg reportsHondais in advanced discussions to build a hybrid vehicle plant in the U.S. for $1.8B-$2.5B, Nikkei Asia saysAmazonwill spend $3B to grow its quick-commerce business in India by 2030, Reuters reports4. MOVERS:Everpuregained after backing its guidance for FY27 and providing its outlook for FY28Grailincreased after FDA advisors voted to recommend approval for its Galleri cancer testNebiuswas higher after BNP Paribas upgraded the stock to OutperformOraclefell after Bloomberg reported the company sent Blue Owl Capital, the developer of its data center being built in New Mexico, a notice citing force majeureAppLovinand Robloxwere lower after Metaannounced Horizon Create and Horizon Studio, two new AI-powered tools that allow users to create complete 2D and 3D mobile games5. EARNINGS/GUIDANCE:BlackBerryreported Q2 results and provided guidance for Q3 and FY27Trio-Techreported Q4 results, with EPS lower year-over-yearDucommunreaffirmed its outlook for FY26TransUnionbacked its outlook for Q3 and FY26H.B. Fullerreported Q3 results, with EPS beating consensusINDEXES:The Dow fell 161.61, or 0.31%, to 51,349.98, the Nasdaq gained 3.34, or 0.01%, to 26,939.37, and the S&P 500 declined 1.90, or 0.02%, to 7,704.13.

Raises FY26 Adjusted EBITA Outlook to $10.75B-$12.75B

Raises FY26 adjusted EBITA view to $10.75B-$12.75B from $7M-$9M.

Owlet Reports Q2 Revenue of $33.9M, Beating Expectations

Report Q2 revenue $33.9M, consensus $31.72M. "Owlet delivered an exceptional second quarter, with record quarterly revenue, gross profit, and adjusted EBITDA," said Kurt Workman, Owlet's President, Chief Executive Officer, and Co-Founder. "We are executing across each of our strategic growth areas, and it is showing up in our results - strong topline growth, standout international momentum, and continued Owlet360 subscription platform growth. We believe our biggest opportunity from here is growing subscribers, and that is exactly where the company is focused."