Rivian earnings, stock show they can be 'longstanding player' in EV space: Analyst
08/09/2023 04:36Rivian (RIVN) shares dip after reporting narrower-than-expected losses in its second-quarter earnings. The EV maker slid past earnings expectations with revenue off $1.12 billion — against estimates of $1.01 billion — and losses of $1.08 per share — against estimated losses of $1.37 per share. Rivian raised its full-year production forecast to 52,000 EVs. Truist Securities Equity Research Analyst Jordan Levy states Rivian's ability to produce EVs, both efficiently and at a profit, remains "critical." Levy points out what investors should look out for in Rivian's earnings calls, explaining his own price target for the automaker.
Bloomberg
Coupang Sustains Profit Streak, Sees Logistics Investments Pay Off
(Bloomberg) -- Coupang Inc., the online retailer popular in South Korea for dawn and one-day delivery, posted its fourth straight quarterly profit after investments in logistics and membership programs helped shore up margins.Most Read from BloombergUS Bank Shares Drop as Moody’s Cuts Ratings, Warns on RisksWall Street WhatsApp, Texting Fines Exceed $2.5 BillionMusk Says He May Need Surgery, Will Get MRI on Back and NeckThe Global South Breaks Away From the US-Led World OrderBillionaire Desmarai
TipRanks
2 ‘Strong Buy’ Penny Stocks That Could Rally All the Way to $10 (or More)
Finding solid returns is the key to success in stock investing, but there are almost as many paths to that as there are investors. You can pack your portfolio with long-term stocks featuring slow appreciation; you can invest heavily in trending stocks that are riding a bubble, hoping to cash out at the right time; or you can buy into low-cost equities that feature high potential to boom. That last is the allure behind the penny stocks. Traditionally priced for a dollar or less per share, today t
Reuters
US trucking firm Yellow files for bankruptcy, blasts Teamsters
(Reuters) -Some 30,000 workers at Yellow Corp were looking for jobs on Monday after the major trucking company filed for Chapter 11 bankruptcy protection, potentially saddling U.S. taxpayers with losses from a government rescue of the long-troubled carrier. It laid blame for the bankruptcy, likely the largest ever for a U.S. trucking firm, at the feet of the International Brotherhood of Teamsters union that represents about 22,000 of its employees. Teamsters leadership "was able to halt our business plan, literally driving our company out of business," Yellow CEO Darren Hawkins said in a statement late Sunday.
Barrons.com
Rivian Raises Production Forecast as Results Surprise Wall Street
The EV start-up Rivian Automotive delivered second-quarter results that beat Wall Street estimates and raised its forecast for production for the full year. Tuesday evening, Rivian (ticker: RIVN) reported a per-share loss of $1.08 from sales of $1.1 billion, while Wall Street had been looking for a per-share loss of $1.43 from sales of $1.1 billion. A year ago, Rivian lost $1.62 a share from sales of just $95 million.