Stock Market Wrap-Up: WOW, ACHR, OKLO, PRPH, MYO, ATNF, DJIA, ASTS, BBAI, KODK, AMD, BRK.B, SOUN, RBLX, TSLA

TipRanks rounds up Tuesday's biggest stock market stories, including WideOpenWest's $1.5 billion deal to go private, Archer Aviation's Q2 earnings miss, and Oklo's earnings disappointment. Other stocks in focus include ProPhase Labs, Myomo, 180 Life Sciences, AST SpaceMobile, BigBear.ai Holdings, Kodak, Advanced Micro Devices, Berkshire Hathaway, SoundHound AI, Roblox, and Tesla.

Tuesday brought a mix of notable financial news stories, with significant developments in the telecommunications, aerospace, and nuclear sectors. Here's a roundup of the biggest stories:

WideOpenWest Goes Private

WideOpenWest Inc. (WOW!) announced Monday that it has been taken private in a $1.5 billion deal. Crestview and DigitalBridge will acquire all outstanding shares of WOW! for $5.20 per share, representing a 63% premium over the Friday closing price of $3.19. This transaction will make WOW! a private company, freeing it from public reporting requirements. The deal is expected to close by the end of the year or the first quarter of 2026 [1].

WOW! reported a total revenue of $144.2 million for the quarter, with adjusted earnings (EBITDA) of $70.3 million, representing nearly half of every dollar in revenue. The company added 2,300 subscribers in greenfield markets during Q2, bringing its total subscriber count to 469,600. CEO Teresa Elder noted that this acquisition will bring new opportunities to investors, employees, and customers [1].

Archer Aviation Misses Q2 Earnings Estimates

Archer Aviation (NYSE: ACHR) saw its stock tumble about 10% in premarket trading Tuesday after reporting a wider second-quarter loss. The electric aircraft maker, which is focused on urban transport, posted a net loss of $206 million and an adjusted EBITDA loss of $118.7 million. The company's adjusted expenses jumped 28% to $123.5 million as it scaled up operations in California and Georgia [2].

Despite the loss, Archer highlighted several milestones, including six Midnight aircraft in production, its selection as the official air taxi provider for the Los Angeles 2028 Olympics, and two defense program acquisitions. The company has $1.7 billion in liquidity to support its growth ambitions [2].

Oklo's Earnings Miss and Strategic Partnerships

Oklo Inc. (OKLO) shares rose 8.55% following its Q2 earnings report, despite missing estimates. The company reported a loss of 18 cents per share, but analysts have raised their price targets in response to Oklo's progress. HC Wainwright & Co. increased its target from $55 to $90, while Wedbush raised its target from $75 to $80 [3].

Oklo secured multiple strategic partnerships and completed Phase 1 of the Nuclear Regulatory Commission's readiness assessment. The company ended Q2 with $226.8 million in cash and cash equivalents and $456.2 million in marketable securities. Oklo announced a strategic collaboration with Lightbridge Corp. (LTBR) to explore a potential co-location of a Lightbridge fuel fabrication facility inside of Oklo's planned advanced fuel manufacturing infrastructure [3].

Other Notable Stocks

Other stocks in focus include ProPhase Labs, Myomo, 180 Life Sciences, AST SpaceMobile, BigBear.ai Holdings, Kodak, Advanced Micro Devices, Berkshire Hathaway, SoundHound AI, Roblox, and Tesla. These companies have also made significant news in the past week, but the focus of this article is on the stories involving WOW!, Archer Aviation, and Oklo.

References:

[1] https://broadbandbreakfast.com/wideopenwest-taken-private-in-1-5-billion-deal/
[2] https://finance.yahoo.com/news/achr-archer-aviation-stock-tumbles-135601614.html
[3] https://www.ainvest.com/news/oklo-shares-surge-q2-earnings-analyst-price-target-increases-2508/