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One expert said eVTOLs fly at low altitudes and could create airspace and security challenges. The US's first electric vertical-takeoff and -landing aircraft are expected to fly commercial passengers as soon as 2025. It still needs further approvals to fly for airlines like United, but the latest certificate puts it one step closer. Archer's Midnight aircraft are typically shorter range, with the Midnight flying up to 100 miles on one charge. Joby plans to use the four urban vertiports as a citywide commercial eVTOL air link around Dubai.
Persons: eVTOLs, , Archer, Bryan Bernhard, Bernhard, Archer's, Pete Syme, Henry Harteveldt, Joby, Rani Plaut, Harteveldt, Bernard, Archer Aviation's, Archer Aviation Bernhard Organizations: Infrastructure, Service, Royal Aeronautical Society, American Airlines, United Airlines, Virgin Atlantic Airways, US Air Force, JPMorgan, Newark Liberty International, O'Hare International, Archer, Midnight, Joby Aviation, FAA, NASA, Joby, Air, Delta Air Lines, Federal Aviation, Archer Aviation Locations: Manhattan, New Jersey, Chicago's, Henry, Dubai, Japan, New York City, San Francisco, Washington, London, Paris
CNBC Daily Open: Nvidia pushes past $3 trillion
  + stars: | 2024-06-06 | by ( Abid Ali | ) www.cnbc.com   time to read: +3 min
CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nvidia passes AppleArtificial intelligence chipmaker Nvidia surpassed the $3 trillion market capitalization mark, pushing past Apple to become the second most valuable company behind Microsoft. Baron backs Musk's pay dealBillionaire investor Ron Baron has publicly defended Elon Musk's controversial $56 billion Tesla pay package. Elliott retakes SoftBank stakeElliott Management, an activist investor, has taken a $2 billion stake in SoftBank and is pushing for a $15 billion share buyback. In 2020, at Elliott's urging, SoftBank launched a $20 billion share buyback and asset disposal program.
Persons: Ron Baron, Elon, Baron, Elliott retakes SoftBank, Elliott, SoftBank, Son's, Archer, Goldman Sachs Organizations: New York Stock Exchange, CNBC, Nvidia, Nasdaq, Hewlett Packard Enterprises, Dow Jones, Treasury, Apple, Microsoft, Baron Capital, Elliott Management, Electric, FAA, Archer Aviation, Federal Aviation Administration, United Airlines Locations: New York City, U.S, Tesla, Delaware, SoftBank, Elliott's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailArcher Aviation's Adam Goldstein and United Airlines Venture's Andrew Chang talk air taxi progressAdam Goldstein, Archer Aviation co-CEO & co-founder and Andrew Chang, United Airlines Ventures managing director, join CNBC's Phil LeBeau and 'Closing Bell Overtime' to talk getting another step closer to commercial air taxi.
Persons: Archer Aviation's Adam Goldstein, Andrew Chang, Adam Goldstein, Archer, Phil LeBeau Organizations: United Airlines, Archer Aviation, United Airlines Ventures
Check out the companies making headlines in midday trading: CrowdStrike — The cybersecurity company popped 9% after posting a strong outlook and a first-quarter results beat. Dollar Tree — Shares of the discount retailer fell more than 4% after second-quarter guidance came in below expectations. Dollar Tree said it expected between $1 and $1.10 in adjusted earnings per share, while analysts surveyed by FactSet had penciled in $1.19 per share. Verint reported adjusted earnings of 59 cents per share on revenue of $221.3 million in the first quarter. Analysts surveyed by LSEG had anticipated just 54 cents in earnings per share and $214.5 million in revenue.
Persons: CrowdStrike, LSEG, FactSet, Kerrisdale, Brown, Forman, Verint, Tommy Hilfiger, PVH, Fadi Chamoun, Goldman Sachs, Goldman, KeyBanc, Lisa Kailai Han, Pia Singh, Yun Li, Sean Conlon, Jesse Pound, Samantha Subin Organizations: Hewlett Packard Enterprise, GameStop, AMC, Kerrisdale, FactSet, SAP, Archer Aviation, Federal Aviation Administration, Systems, Materials, KLA, Barclays, Taiwan Semiconductor Manufacturing, Authentic Brands, Old Dominion, BMO Capital Markets, Nvidia, America's, Jazz Pharmaceuticals Locations: China
Midnight, an all-electric aircraft from company Archer Aviation, is seen at the Salinas Municipal Airport in Salinas, California, on Aug. 2, 2023. The Federal Aviation Administration has granted Archer Aviation a key certification that gets the electric air taxi maker closer to eventually flying travelers, the company said Wednesday. United is working with Archer on what it would look like to enter the electric aircraft into service. Archer has partnered with automaker Stellantis to produce hundreds of the electric air taxis. On Tuesday, Joby said it plans to acquire the autonomy division of autonomous aviation company Xwing.
Persons: Archer, Adam Goldstein, Goldstein, couldn't, Andrew Chang, Joby Organizations: Archer Aviation, Salinas Municipal Airport, Federal Aviation Administration, United Airlines, CNBC, FAA, Joby Aviation, U.S . Air Force, Delta Air Lines Locations: Salinas, Salinas , California, Manhattan, Newark , New Jersey
Cramer's Lightning Round: Trade Desk is 'great'
  + stars: | 2024-04-10 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon MarineMax's year-to-date stock performance. Stock Chart Icon Stock chart icon Trade Desk's year-to-date stock performance. Trade Desk : "I think Trade Desk is great." Stock Chart Icon Stock chart icon Geron's year-to-date stock performance. Stock Chart Icon Stock chart icon Archer Aviation's year-to-date stock performance.
Persons: It's, Peabody Energy's, we've, Archer Aviation's, it's Organizations: Peabody Energy, Archer Aviation, Uranium Energy
They are flying cars, they're flying cars,Tom Chitty: These vehicles aren't necessarily actually cars with wheels, either, because I know that you've done you've got a program coming up soon about eVTOL. And the idea is there's going to be a fleet of these run by an operator. You've alluded to this feature program we've got coming out looking at the future of these, these flying cars, basically in these eVTOLs. And also, we can't finish this episode about flying cars and eVTOLs without talking about Chitty Chitty Bang Bang, the OG. Yeah, no, that's, that's very surprising.
Persons: Tom Chitty, Arjun Kharpal, who's, I've, we've, We've, I'm, they'd, I'd, there's, Arjun, that's, we're, you've, there'll, they're, You've, Kharpal, it's, you'll, They've, Morgan Stanley, someone's, What's, they've, They're, Big Ben, Chitty Chitty Bang Bang, Chitty Bang Bang, Tom, We'll Organizations: JPMorgan, CNBC, Mar, Airbus, Archer Aviation, Joby, Infrastructure, Boeing, Heathrow Airport, Civil Aviation Administration, U.S . Federal Aviation Administration, FAA, Autonomy, London, Transport Locations: Spain, China, Europe, Munich, Germany, beyondthevalley@cnbc.com, London, Chinese, Guangzhou, Birmingham, U.S, Manchester, it's, eVTOLs, Battersea, Heathrow
Stock Chart Icon Stock chart icon Archer Aviation's year-to-date stock performance. Archer Aviation : "I can't recommend that stock because it just has no earnings power...There's so many good stocks right now, we don't need that." Stock Chart Icon Stock chart icon Robinhood's year-to-date stock performance. Stock Chart Icon Stock chart icon Cummins' year-to-date stock performance. Stock Chart Icon Stock chart icon Crown Castle's year-to-date stock performance.
Persons: Archer Aviation's, Cummins Organizations: Archer Aviation, Greyhound, Cummins
Wall Street returned to its winning ways this week — and Nvidia 's blowout earnings report Wednesday night was a big reason why. Twenty-six of our 32 portfolio stocks have delivered their results this earnings season (we didn't own Abbott Labs at the time of its report). It was a muted week for macroeconomic data, but we did get a slightly better-than-expected January existing home sales report on Thursday. In the week ahead, two more Club names are set to report earnings before a market-moving economic update arrives Thursday morning. The two other reports of note are the January new home sales report on Monday and ISM Manufacturing report on Friday.
Persons: Dow, we'll, bode, We're, Li Auto, Krystal, Arcutis, MARA, Iovance, Goldman Sachs BDC, CRON, BUD, Papa, LEV, Ginkgo, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nvidia, Nasdaq, Dow Jones, Dow, Palo Alto Networks, Bausch Health, Coterra Energy, Abbott, Companies, TJX, Marshalls, TJX Companies, Berkshire Hathaway, Krystal Biotech, Alpha Metallurgical Resources , Inc, Fidelity National Information Services Inc, Animal Health, ELAN, Public Service Enterprise Group, Surgery Partners, BioCryst Pharmaceuticals Inc, Outdoor Holdings, Enlight Renewable Energy Ltd, Kosmos Energy, Playtika, Video Communications, TiRobot Corp, IRB, SBAC Communications Corporation, HEICO Corporation, FS KKR, Archer Aviation Inc, TransMedics, Sterling Construction Company, AES, Cruise Line Holdings, Lowe's Companies, American Electric Power Company, Bank of Nova, APLS Pharmaceuticals, Bank of Montreal, BMO, Devon Energy, Solar Inc, Technologies, Lab, Virgin Galactic Holdings, Splunk Inc, eBay, EBAY, Luminar Technologies, Agilent Technologies, G Foods, Masimo Corp, Baidu, Parts Inc, Icahn Enterprises, Viatris Inc, ACM Research, Golden Ocean Group, EMCOR, Industries, NRG Energy, Dycom, Editas, UWM Holdings Corporation, Vistra Energy, Marathon Digital Holdings, AMC Entertainment Holdings, Paramount Global, IonQ Inc, International, HP, Monster Beverage Corporation, Cronos, Birkenstock Holding, Anheuser, Busch InBev, Body, Brink's Company, Flags Inc, Papa John's, ACI, Hormel, Lion Electric Company, BlackRock TCP, Dole plc, DOLE, Fisker Inc, Dell Technologies, Ginkgo Bioworks Holdings, Autodesk, Green Brick Partners, Hewlett Packard Enterprise, Veeva Systems, INTTEST Corporation, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: New York City, U.S, Salesforce, Maxx, Bank of Nova Scotia, BlackRock, Cayman
Deutsche Bank is remaining bullish on aerial mobility company Archer Aviation in 2024. Joby Aviation is developing a similar electric flying vehicle that will also operate as an air taxi vehicle. The stock has been volatile since Deutsche first called it a top pick in November , which maintained the same $12 per share price target. ACHR mountain 2023-11-01 Archer Aviation stock since November. Roughly 39 million shares of Archer stock are being sold short, according to data from FactSet, or more than 21% of the floating shares.
Persons: Archer, Edison Yu, Yu, Archer's, Joby Organizations: Deutsche Bank, Archer Aviation, NASDAQ, Joby Aviation, Federal Aviation Administration, U.S . Air Force, Deutsche Locations: Archer
Stock Chart Icon Stock chart icon SolarEdge's year-to-date stock performance. Stock Chart Icon Stock chart icon Arbor Realty's year-to-date stock performance. Stock Chart Icon Stock chart icon Liberty Media's year-to-date stock performance. Stock Chart Icon Stock chart icon Square-parent Block's year-to-date stock performance. Stock Chart Icon Stock chart icon Becton Dickinson's year-to-date stock performance.
Persons: Archer Aviation's, I've, Arbor, We're, Philip Morris International's, Philip Morris, Becton, Becton Dickinson Organizations: Archer Aviation, SolarEdge Technologies, Arbor Realty Trust, Liberty, Philip Morris International
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: I like Mastercard and Visa over Block, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: Archer Aviation, Phillip Morris, Block, Solaredge, Liberty Media and more.
Persons: Jim Cramer, Phillip Morris Organizations: Mastercard, Visa, Archer Aviation, Liberty Media
Deutsche Bank says Archer Aviation's strong cash balance makes the stock a top pick among electric vertical take-off and landing companies (eVTOL). The bank reiterated a top pick recommendation on Archer in a Monday note and maintained a $12 per share price target. Its eVTOL vehicles are meant for city taxi transport service, and Archer forecasts commercial vehicles will begin flying in 2025. "Overall, Archer remains our favorite name in the group and we maintain our $12 price target." Yu added that Archer's cash balance remains strong and said capital will remain robust into the near future.
Persons: Archer, Edison Yu, Joby, Yu, — CNBC's Michael Bloom Organizations: Deutsche Bank, Archer Aviation, Midnight, US Air Force Locations: Europe
[1/4] Midnight, an all-electric aircraft from company Archer Aviation, is seen at the Salinas Municipal Airport in Salinas, California, U.S. August 2, 2023. REUTERS/Carlos Barria/File Photo Acquire Licensing RightsBENGALURU, Nov 9 (Reuters) - InterGlobe Enterprises, which backs India's top airline IndiGo, and U.S.-based Archer Aviation (ACHR.N) will launch an all-electric air taxi service in India in 2026 that will be "cost-competitive" with on-road services, the companies said Thursday. The companies said that a trip that typically takes 60 to 90 minutes by car in Delhi, for example, will take about 7 minutes in an air taxi. InterGlobe Enterprises, which owns nearly 38% of IndiGo-parent InterGlobe Aviation (INGL.NS) as well as hospitality and logistics businesses, also plans to use the e-aircraft for cargo, logistics, medical, emergency and charter services. Archer secured a $142 million-deal from the U.S. Air Force in July to provide six Midnight aircraft and said in October it would launch an air taxi service in the UAE.
Persons: Carlos Barria, Archer, Archer Aviation's, InterGlobe Aviation's, Chris Thomas, Savio D'Souza Organizations: Archer Aviation, Salinas Municipal Airport, REUTERS, Rights, InterGlobe Enterprises, IndiGo, Chrysler, Boeing, United Airlines, InterGlobe Aviation, U.S . Air Force, Midnight, Thomson Locations: Salinas, Salinas , California, U.S, India, Delhi, Mumbai, Bengaluru, UAE
The major averages rebounded strongly this week as quarterly earnings came in largely better than expected and interest rates fell on softer economic data. The Dow Jones Industrial Average rose more than 5% for its best week since October 2022. The big theme next week is earnings and the four portfolio companies delivering their quarterly results. Here's the full rundown of all the important domestic data in the week ahead as we consider a number areas of our portfolio for trades next week. ET: Treasury budget statement for October (See here for a full list of the stocks in Jim Cramer's Charitable Trust.)
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Cramer's Lightning Round: 'Pass' on General Motors
  + stars: | 2023-10-27 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Super Micro Computer's year-to-date stock performance. Stock Chart Icon Stock chart icon General Motors' year-to-date stock performance. Stock Chart Icon Stock chart icon BP's year-to-date stock performance. Stock Chart Icon Stock chart icon CNH Industrial's year-to-date stock performance. Stock Chart Icon Stock chart icon Symbotic's year-to-date stock performance.
Persons: Motors, I'm, CNH, let's, Archer Aviation's, Let's Organizations: General Motors, Ford, Aurinia Pharmaceuticals, Archer Aviation, Boeing Locations: Canadian
Investors raised their short bets against various solar stocks and electric vehicle charging companies as the stock market breaks down. Hedge funds, in turn, are raising their bets against stocks they feel are particularly vulnerable in a downturn. Short interest in ChargePoint increased 23% to roughly 91 million shares, while short interest in Plug Power rose 9% to 139 million shares. Short interest reached about 32% and 26% of the float in both of those companies, respectively. A handful of aviation stocks also saw a jump in short interest bets, namely Frontier Group and Archer Aviation , which saw short interest rise to 8% and 7%, respectively.
Persons: SunPower, Frontier, Grindr Organizations: Nasdaq, New York Stock Exchange, Frontier Group, Archer Aviation, Marathon, Cipher Mining, Canada Goose Holdings Locations: Wayfair
A Joby Aviation Air Taxi is seen outside of the New York Stock Exchange (NYSE) ahead of their listing in Manhattan, New York City, U.S., August 11, 2021. Joby intends to begin hiring "immediately" to stand up manufacturing of aircraft components at existing buildings at the Dayton site, Bevirt said. Construction of the new production facility will begin in 2024, with operations to start in 2025. Bevirt declined to comment on initial production rates and how much funding would be immediately allocated to construct the Dayton facility. The state of Ohio and several political organizations have offered up to $325 million in incentives and benefits to develop the Dayton site, Joby said.
Persons: Andrew Kelly, JoeBen Bevirt, Joby, Bevirt, Valerie Insinna, Timothy Gardner Organizations: Aviation Air Taxi, New York Stock Exchange, REUTERS, Rights, Electric, Joby Aviation, Dayton International, Reuters, Federal Aviation Administration, Pentagon, Archer Aviation, Beta Technologies, FAA, Thomson Locations: Manhattan , New York City, U.S, Dayton , Ohio, California, Dayton, Ohio
President Joe Biden will nominate a former Obama administration official to lead the Federal Aviation Administration after his first choice withdrew March after running into opposition from Republican senators. Whitaker's nomination had been expected for months, and Biden's announcement was praised by several industry and labor groups. The FAA, which regulates airline safety and manages the nation's airspace, has been run by back-to-back acting administrators since March 2022. The first, Billy Nolen, who left FAA in June to join another air taxi company, Archer Aviation, praised Whitaker's nomination in a recent interview. Sara Nelson, president of the Association of Flight Attendants, urged the Senate to confirm Biden’s pick quickly.
Persons: Joe Biden, Obama, Biden, Michael G, Whitaker, Phillip Washington, Kyrsten Sinema, Sen, Ted Cruz, Biden's, Mike, ” Cruz, Stephen Dickson, Donald Trump, Billy Nolen, , , ” Nicholas Calio, Sara Nelson, “ Whitaker Organizations: Federal Aviation Administration, Republican, FAA, Hyundai, TWA, American Airlines, United Airlines, Denver International Airport, Senate, Washington, GOP, Archer Aviation, Airlines for, Association of Flight Locations: InterGlobe, India, United States, Denver, Ted Cruz of Texas, Airlines for America
The growing electric air taxi market is expected to be a $57 billion industry by 2035. Startups are racing to build the first certified eVTOL thanks to investments from airlines like United and Delta. Joby Aviation recently got the green light to start flight testing of its five-seater S4 2.0 eVTOL. The era of electric air taxis is almost here, and there are several competitors vying for a piece of the lucrative market. In 2021, United Airlines placed a $1 billion order for Archer's Midnight eVTOL, while Delta Air Lines invested $60 million into Joby Aviation in 2022.
Persons: Joby, Uber Organizations: Delta, Joby Aviation, Morning, Archer, Aerospace, EVE Air Mobility, Boeing, United Airlines, Delta Air Lines, Air New, American Airlines, Japan Airlines, Paris Airshow Locations: Air New Zealand
REUTERS/Carlos Barria/File PhotoAug 10 (Reuters) - Air taxi maker Archer Aviation (ACHR.N) has reached an agreement with Boeing (BA.N) and its Wisk air taxi unit to settle litigation and collaborate on autonomous technology, the companies said on Thursday. In a joint statement with Boeing and Wisk, Archer said it "has agreed to make Wisk its exclusive provider of autonomy technology for future variants of Archer’s aircraft." Boeing said it is making an investment in Archer "that will support the integration of Wisk’s autonomous technology in future variants of Archer’s aircraft." Archer counter sued Wisk in 2021 "for its false and malicious extra-judicial smear campaign" and Boeing in 2022. Archer will issue warrants to Wisk for up to 13.2 million shares as part of the settlement and autonomy agreement.
Persons: Carlos Barria, Archer's, Archer, Wisk, Larry Page's Kitty, carmaker Stellantis, David Shepardson, Matthew Lewis, Lisa Shumaker Organizations: Archer Aviation, Salinas Municipal Airport, REUTERS, Air, Boeing, United Airlines, ARK Investment Management, Federal Aviation Administration, Google, Larry Page's Kitty Hawk Corp, Chrysler, U.S ., Airlines, Thomson Locations: Salinas, Salinas , California, U.S, Washington
UBS also confirmed that Credit Suisse fully repaid a 50 billion Swiss franc emergency liquidity loan to the Swiss National Bank. Second quarter revenue of $348.4 million missed a guidance range that started at $360 million. The company notched adjusted earnings per share of 22 cents on $379 million in revenue, while FactSet had forecast 17 cents and $375 million. Archer Aviation -- Shares soared nearly 23% after Archer settled a lawsuit with Boeing over an autonomous flying dispute. IonQ did, however, raise its booking guidance to a range of $49 million to $56 million.
Persons: disinfects, Maxeon, FactSet, Refinitiv, Archer, IonQ, , Jesse Pound Organizations: UBS, Credit Suisse, Swiss National Bank ., Refinitiv, Technologies, Flower Foods, Archer Aviation, Boeing, United Airlines, Ark Investment Management Locations: Swiss
Wisk Aero accused Archer Aviation of stealing trade secrets in a 2021 lawsuit. The companies announced Thursday they've reached a settlement and will work together. Wisk Aero and Archer Aviation, two of the most prominent eVTOL companies, announced Thursday that they've agreed to work together after settling a legal dispute. In court documents reviewed by Insider, Wisk accused its rival of "a brazen theft of its intellectual property and confidential information." Archer also announced Thursday that the Federal Administration Aviation has given approval for its Midnight aircraft to begin flight tests.
Persons: they've, Archer, they're, Wisk Organizations: Wisk Aero, Archer Aviation, Boeing, Morning, United Airlines, Federal Administration Aviation, Midnight, FAA
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFlying taxi company Archer Aviation hopes to start commercialization by 2025: CEO Adam GoldsteinAdam Goldstein, Archer Aviation CEO, and CNBC's Phil LeBeau join 'Fast Money' to talk quarterly results, guidance, working with Boeing and more.
Persons: Adam Goldstein Adam Goldstein, Phil LeBeau Organizations: Archer Aviation, Boeing
Two rivals in the race to mass-produce an all-electric aircraft said on Thursday that they had agreed to collaborate and settled a trade-secrets lawsuit that one rival, Wisk Aero, had filed against the other, Archer Aviation. Archer said it, in turn, would exclusively use Wisk’s self-flying technology in future aircraft. Both Wisk and Archer are developing small electric aircraft that can take off vertically, like helicopters, but fly like airplanes. Each is being designed to carry four passengers short distances, but Archer’s will initially have a pilot while Wisk is working toward autonomous flight. Boeing said in a statement that its investment in Archer would “support the potential integration of Wisk’s autonomous technology in future variants of Archer’s aircraft, pursuant to Wisk’s exclusive right to be their autonomy provider.”
Persons: Archer, Archer’s Organizations: Wisk, Archer Aviation, Boeing Locations: Archer
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