SONO News & Events

The major averages were mixed but mostly lower despite oil prices pulling back, as yesterday's surge in chip stocks failed to build on its momentum. The fresh pressure on companies in the AI space reflects the lingering skepticism that part of the rally for chips and datacenter suppliers in recent quarters may have been overblown. Oil prices have pulled back after reports of a ceasefire between Israel and Iran, easing concerns about a major supply disruption, though investors are largely in wait-and-see mode ahead of tomorrow's CPI inflation report, which could influence expectations for the Fed's path through the second half of the year. Also keeping the market on edge, President Trump said in a social media post that Iranians shot down a U.S. helicopter over the Strait of Hormuz and that "the United States must, of necessity, respond to this attack."Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:OpenAI has confidentially filed for an IPO with the SEC,GSKNuvalentfor $10.6B, or $124 per shareJ.M. Smuckerreportedand provided FY27 guidanceBroadcom, Apollo Global, and BlackstoneAnthropic launchedand Claude Mythos 52. WALL STREET CALLS:FuelCellto Buy at CanaccordKeefe BruyetteToll Brothersto OutperformKeefe paired the upgrade of Toll with aof Lennarto UnderperformPrudentialto Hold at Argus on Japan issuesMagnitewith a Buy at BTIG3. AROUND THE WEB:Googleconvinced the Federal Circuit Court of Appeals to restore two smart-speaker patents that allegedly were infringed by audio equipment maker SonosAncora is pushing Ashlandto pursue a sale, Reuters saysThe U.K. is conducting a review of its National Health contract with Palantiramid growing pressure for the government to use a break clause at the end of the contract's initial term in 2027, Reuters reportsNuvei is in talks to acquire Payoneer Global, Reuters reportsWalmartplans to announce the departure of Diana Marshall, the chief experience officer at Sam's Club, WSJ reports4. MOVERS:Veecogains after announcing a follow-on order for itsMission Produceincreases after, providing guidance for Q3, and announcing a new $100M share repurchase programVNetand GDS Holdingshigher in New York after BloombergChina is preparing to spend $295B on building data centers across the countryUnited Natural Foodslower afterand narrowing its guidance for FY26Universal Technicalfalls after announcing a5. EARNINGS/GUIDANCE:SailPoint, with CEO Mark McClain saying "robust top- and bottom-line growth, underscores the critical market demand for comprehensive identity security"Land's Endand provided guidance for Q2 and FY26Titan Machinery, with EPS missing consensusDesigner Brandsand backed its guidance for FY26Academy Sportsand raised its guidance for FY26INDEXES:The Dow rose 86.10, or 0.17%, to 50,872.11, the Nasdaq lost 250.84, or 0.97%, to 25,678.82, and the S&P 500 declined 19.08, or 0.26%, to 7,386.65.

Escalating geopolitical tension in the Middle East, with Iran claiming that two missiles have struck a U.S. naval ship and President Trump refusing to acknowledge that a ceasefire is holding, has re-introduced heightened volatility in risk assets to start the week.   All major indices were down in Monday's trade with Energy being the only S&P 500 sector to end the day in positive territory as WTI Crude Oil jumping above $107 a barrel.   Materials and Industrials were the worst-performing sectors, with investors also having sold U.S. Treasuries amid ongoing concerns of higher energy costs feeding into elevated inflation - the yield on the 10-year was above 4.4% and that of the 30-year exceeded the 5% mark.Unlike last week, where strong results and constructive earnings call commentary from mega-cap tech revived positive sentiment afterhours, Monday's evening session is more subdued, with S&P E-Mini's flat and Nasdaq 100 contract down a decimal. In precious metals, the second consecutive session of gains in the US Dollar has pressured gold and silver below $4,530 and $74 per ounce respectively.  WTI Oil is off the highs but still above $105 per barrel.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Backblazeup 45.3%Sterling Infrastructureup 21.3%EverQuoteup 17.0%Pinterestup 15.2%V2X, Inc.up 12.6%Sonosup 5.5%Grab Holdingsup 2.2%Paramount Skydanceup 1.8%ALSO HIGHER -Fidelity National Informationup 6.0% after announcing  Agentic AI partnership with AnthropicDOWN AFTER EARNINGS -GeneDx Holdingsdown 38.6%Ichor Holdingsdown 13.8%Duolingodown 12.7%Fabrinetdown 10.8%Advanced Energy Industriesdown 8.5%On Semidown 4.2%Palantirdown 3.0%Vertex Pharmaceuticalsdown 1.1%ALSO LOWER -Viatrisdown 4.6% after disclosing CFO transition

Sees Q3 adjusted EBITDA $20M-$48M. Sees Q3 GAAP gross margin 42%-44.5%. Sees Q3 operating expenses $132M-$142M. Says guidance represents modest year over year acceleration from Q2 on a constant currency basis, as the company expects foreign exchange to have a negligible contribution to growth in Q3. Says gross margin guidance range embeds an approximately 400 basis point year-over-year headwind from higher memory costs in Q3, roughly 200 basis points more than Q2. Says do not expect to receive any tariff refunds during Q3. Says currently expects memory cost inflation to rise from Q3, which is likely to pressure gross margin in Q4. Comments and guidance taken from Q2 earnings conference call.