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☆ Airline stocks set for best month in two years on summer rush, lower fuel prices
▼ + stars: | 2023-06-30 | by ( Medha Singh | ) www.reuters.com time to read: +2 min

June 30 (Reuters) - U.S. airline stocks on Friday were set to record their strongest monthly performance since 2021, helped by easing fuel prices and signs of robust travel demand during the summer season. The outlook for the rest of summer months is also bright. The S&P 1500 airlines (.SPCOMAIR) has jumped 21.3% so far in June, the highest since February 2021 and far ahead of the S&P 500's (.SPX) 5.2% rise. However, Raymond James analyst Savanthi Syth expects air travel demand to moderate in the second half, given the high level of uncertainty and limited visibility into the fall. Shares of United Airlines and Delta trade 5.2 and 7.0 times forward profit estimates, respectively, well below S&P 500's (.SPX) multiple at 19.1.

Persons: Russ Mould, Raymond James and, Raymond James, Savanthi Syth, Matthew Tuttle, Joby, Morgan, Medha Singh, Arun Koyyur Organizations: U.S, Airlines, America, Bell, Delta Air Lines, United Airlines, Raymond James and Bank of America, Delta, Tuttle Capital Management, Joby Aviation, Thomson Locations: United States, Bengaluru

☆ Stocks making the biggest premarket moves: Joby, Micron, Wells Fargo, Freyr Battery and more
▼ + stars: | 2023-06-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading. Joby Aviation — Joby shares gained another 17% premarket. The aviation company announced a $100 million equity investment from South Korea's SK Telecom, expanding an existing partnership. Wells Fargo , JPMorgan Chase , Bank of America — The banks moved higher after passing the Federal Reserve's annual stress test Wednesday. Wells Fargo and Bank of America gained nearly 2%, while JPMorgan rose 1.6%.

Persons: Wells, Charles Schwab —, Morgan Stanley, Adam Jonas, Berkshire Hathaway, Overstock, Richard, —, Macheel, Jesse Pound, Sarah Min, Michael Bloom, Brian Evans Organizations: Aviation, New York Stock Exchange, Joby, South Korea's SK Telecom, Micron Technology, Micron, JPMorgan Chase, Bank of America, Federal, JPMorgan, Citizens, Providence, Occidental Petroleum —, Petroleum, Berkshire, Warren Buffett, Virgin Galactic —, Virgin Galactic Locations: New York, South, Wells Fargo, Providence , Rhode Island, Wednesday's, Virgin

☆ Stocks making the biggest moves midday: Occidental Petroleum, Wells Fargo, Micron, Joby and more
▼ + stars: | 2023-06-29 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Analyst Adam Jonas's $13 price target implies more than 70% upside from Wednesday's close for the stock. Wells Fargo climbed 3.4% while JPMorgan and Bank of America added more than 2% each. Tenaris — The pipe manufacturer rose 2.4% after Jefferies initiated coverage of the stock at a buy, citing a compelling risk-reward ratio. Occidental Petroleum - Shares of the oil giant rose nearly 1% after Warren Buffett's Berkshire Hathaway once again increased its stake. Sigilon Therapeutics — Shares soared more than 500% on news that pharmaceutical company Eli Lilly would purchase Sigilon for as much as $126.56 per share.

Persons: Freyr — Freyr Battery, Morgan Stanley, Adam Jonas's, Wells, Jefferies, Warren Buffett's Berkshire Hathaway, Eli Lilly, — CNBC's Michelle Fox, Alex Harring, Sarah Min, Yun Li Organizations: JPMorgan Chase, Bank of America —, JPMorgan, Bank of America, Micron Technology, Micron, Occidental Petroleum, Occidental, Joby, SK Telecom, Sigilon Therapeutics, Therapeutics, Food and Drug Administration Locations: Salt Lake City , Utah, Wells Fargo, China, Occidental, Houston

☆ Joby receives FAA nod to begin flight testing of its first built aircraft
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +1 min

June 28 (Reuters) - Joby Aviation (JOBY.N) said on Wednesday the U.S. aviation regulator has given the nod for flight testing of its air taxi, as it edges towards securing approval to begin commercial operations. The California-based company also said Toyota North America's CEO, Tetsuo Ogawa, will join its board on Saturday. Joby said the Federal Aviation Administration (FAA) had granted a Special Airworthiness Certificate which allows flight testing of its first production prototype without passengers. The aircraft will be delivered to Edwards Air Force Base after completing initial testing, the company said. The delivery is made under Joby's $131 million contract with the U.S. Air Force.

Persons: Tetsuo Ogawa, Joby, Aishwarya Nair, Krishna CHandra Organizations: Joby Aviation, U.S, Toyota North, Toyota, Archer Aviation, Vertical Aerospace, Federal Aviation Administration, FAA, Edwards Air Force Base, U.S . Air Force, Thomson Locations: California, Bengaluru

☆ Joby receives FAA nod to begin flight testing of electric air taxi
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +2 min

[1/2] Joby Aviation founder JoeBen Bevirt poses next to a Joby Aviation Air Taxi ahead of their listing at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 11, 2021. REUTERS/Andrew Kelly/File PhotoJune 28 (Reuters) - Joby Aviation (JOBY.N) said on Wednesday the U.S. aviation regulator has given the nod for flight testing of its electric air taxi, taking it a step closer to securing approvals for commercial operations. Joby said the Federal Aviation Administration (FAA) had granted a Special Airworthiness Certificate, which allows flight testing of its first production prototype without passengers. Rival Archer received the green signal for flight testing in 2021. Joby's aircraft will be delivered to Edwards Air Force Base after completing initial testing, the company said.

Persons: JoeBen Bevirt, Andrew Kelly, Tetsuo Ogawa, Joby, Archer, Germany's, Aishwarya Nair, Krishna Chandra Eluri Organizations: Joby Aviation, Joby Aviation Air Taxi, New York Stock Exchange, REUTERS, U.S, Toyota North, Toyota, Archer Aviation, Vertical Aerospace, Federal Aviation Administration, FAA, Aerospace, Edwards Air Force Base, U.S . Air Force, Thomson Locations: Manhattan , New York City, U.S, California, Joby's, Bengaluru

☆ Stocks making the biggest moves midday: Pinterest, Carnival, General Mills, Netflix and more
▼ + stars: | 2023-06-28 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Pinterest — Shares climbed more than 5% in midday trading. The Wall Street firm said it anticipated more subscribers and the potential discontinuation of its lowest-priced, ad-free plan, which is being tested in Canada. AeroVironment also said it anticipates full-year revenue of $630 million to $660 million, beating the $600 million expected by analysts. ZoomInfo also received positive coverage from Morgan Stanley, which reiterated an overweight rating on the stock. Snowflake — Shares added 5.5% after the data cloud company reiterated its full-year guidance during an investor day Tuesday.

Persons: Wells, Mills, Betty Crocker, Oppenheimer, AeroVironment, ZoomInfo, Needham, Morgan Stanley, Goldman Sachs, Arcline, BancShares, —, Alex Harring, Brian Evans, Jesse Pound, Michael Bloom Organizations: New York Stock Exchange, Norwegian Cruise, Royal, Refinitiv, Nvidia, Journal, Netflix, Joby, Reuters, KKR . First Locations: Norwegian, Royal Caribbean, China, Canada, Refinitiv, North Carolina

☆ Joby stock soars 44% after the flying-taxi company receives permit to begin flight test
▼ + stars: | 2023-06-28 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Joby Aviation stock soared as much as 44% on Wednesday after the company received a permit to begin flight testing. The company launched its production line and expects to deliver the first ever eVTOL aircraft. Joby has received investments from Toyota and Delta Air Lines, among others. Joby received a Special Airworthiness Certificate for the first aircraft it built at its production line in Marina, California, according to a Wednesday press release from the company. Toyota president and CEO of Toyota Motor North America Tetsuo Ogawa will join Joby's board of directors, according to Joby.

Persons: Joby, —, Tetsuo Ogawa Organizations: Joby Aviation, Toyota, Delta Air Lines, Service, Toyota Motors, Toyota Motor, Edwards Air Force Base, US Air Force Locations: Marina , California, Manhattan, JFK

☆ Stocks making the biggest moves midday: Sonoma Pharmaceuticals, Braze, Adobe and more
▼ + stars: | 2023-06-09 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

On Thursday, Braze posted a non-GAAP loss of 13 cents on revenue of $101.8 million. Analysts called for a loss of 18 cents per share and revenue of $98.8 million, according to FactSet. Joby Aviation , Archer Aviation — On Friday, Canaccord Genuity initiated coverage of Joby Aviation and Archer Aviation with a buy rating, saying the urban air mobility firms are positioned for the long term. Sonoma Pharmaceuticals on Thursday announced an intraoperative pulse lavage irrigation treatment that could replace IV bags for some surgical procedures. Adobe — Shares popped 3.4% after Wells Fargo upgraded the software stock to an overweight rating, saying AI should drive continued upside for the stock.

Persons: Braze, Goldman Sachs, Canaccord Genuity, Archer, Tesla, Motors — Tesla, Mary Barra, DocuSign, Allan C, Thygesen, Refinitiv, Wells, — CNBC's Michelle Fox, Alex Harring, Samantha Subin Organizations: GMC, General Motors, Joby Aviation, Archer Aviation, Sonoma Pharmaceuticals —, Sonoma Pharmaceuticals, Motors, GM, Adobe, —, Citi Locations: Austin , Texas, America

☆ Canaccord initiates Joby and Archer as buy
▼ + stars: | 2023-06-09 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCanaccord initiates Joby and Archer as buyAustin Moeller, director of equity research at Canaccord Genuity, joins 'The Exchange' to explain why his firm initiated coverage of Joby Aviation and Archer Aviation with a buy rating.

Persons: Archer, Austin Moeller Organizations: Joby Aviation, Archer Aviation

☆ US proposes training, pilot certification rules for air taxis
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +2 min

[1/2] A full-size mock-up of an electrically powered Lilium Jet air taxi is seen in a presentation bay inside a hangar at the German company’s headquarters in Oberpfaffenhofen airport outside Munich, Germany, December 2, 2022. REUTERS/Tim HepherWASHINGTON, June 7 (Reuters) - The U.S. aviation regulator said on Wednesday it was proposing comprehensive training and pilot certification rules for flying taxis, electric vertical takeoff and landing aircraft (eVTOL), which have been touted as the future of urban air mobility. Low-altitude urban aircraft have drawn intense global interest, with numerous eVTOL companies going public. In May, the FAA issued an "updated blueprint" for airspace and other changes to accommodate future air taxis. Last year, the FAA issued the airworthiness criteria that air taxi startup Joby Aviation (JOBY.N) must meet for its Model JAS4-1 eVTOL aircraft and Archer Aviation (ACHR.N) for its air taxi to be certified for use.

Persons: Tim Hepher WASHINGTON, David Shepardson, David Gregorio Our Organizations: Jet, REUTERS, U.S, Federal Aviation Administration, FAA, International Civil Aviation Organization, Airlines, Joby Aviation, Archer Aviation, Delta Air Lines, Thomson Locations: Oberpfaffenhofen, Munich, Germany, Joby, New York, Los Angeles

☆ United's Midnight air taxi is on track to debut by 2025 — take a look at the plane
▼ + stars: | 2023-06-02 | by ( Taylor Rains | ) www.businessinsider.com time to read: +2 min

United Airlines ordered $1 billion worth of Archer Aviation's electric air taxi known as "Midnight." A regulatory change could delay the launch, but Archer's CEO says commercial flights are still on track for 2025. The era of electric air taxis is near, but a regulatory change has created an obstacle for manufacturers. While the FAA has made progress, the lack of guidance has left air taxi companies in limbo as they do not know how the future laws could impact design and production — effectively delaying the launch of some eVTOLs, like Joby Aviation's air taxi that Delta Air Lines ordered in October. Insider spoke with Archer Aviation CEO Adam Goldstein to learn more about the status of eVTOL certification and the future of its "Midnight" air taxi.

Persons: Archer, —, Adam Goldstein Organizations: United Airlines, Morning, Federal Aviation Administration, FAA, Delta Air Lines, Archer Aviation

☆ Joby Aviation to get investment from Tesla shareholder Baillie Gifford
▼ + stars: | 2023-05-03 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

Signage is seen on the Joby Aviation Air Taxi outside the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 11, 2021. REUTERS/Andrew Kelly/File Photo(Reuters) - British investment management firm Baillie Gifford will invest $180 million in electric aircraft maker Joby Aviation, they said on Wednesday. “It is important as long-term investors – even more so in a challenging environment – that we maintain our approach of backing transformational companies to build new growth industries,” a Baillie Gifford spokesperson said in a statement. The British investment firm are also investors in Elon Musk-led electric vehicle maker Tesla Inc and online retailer Amazon.com Inc. The investment is expected to close on May 5, Baillie Gifford and Joby said on Wednesday.

☆ Joby Aviation lands $55 million contract from US Air Force
▼ + stars: | 2023-04-25 | by ( ) www.reuters.com time to read: +2 min

April 25 (Reuters) - Electric aircraft maker Joby Aviation (JOBY.N) will deliver up to nine air taxis to the U.S. Air Force under a $55 million contract extension that marks the company’s first revenue-generating operations, the company announced on Tuesday. Joby will deliver the first two aircraft to Edwards Air Force Base in California by March 2024 for field exercises that will help the Air Force determine whether to adopt electric vertical takeoff and landing (eVTOL) aircraft. Under the contract with the Air Force, Joby will maintain ownership of the air taxis but will teach military pilots to fly them for the first time. Joby previously obtained the first airworthiness approval from the Air Force for an uncrewed electric aircraft in 2020. The latest award brings the total value of Joby's contracts with the Air Force up to $131 million.

☆ Inside the Rise and Fall of Kittyhawk, Larry Page's Failed Flying Car Company
▼ + stars: | 2023-04-16 | by ( Hugh Langley | Rob Price | ) www.businessinsider.com time to read: +22 min

Killing off projects had become something of a tradition at Kittyhawk, the secretive flying-car startup launched by the Google cofounder Larry Page. Larry Page has used his Google money to found a series of flying car companies with one common goal: "to free the world of traffic." "When Bloomberg did their original exposé, that's when urban air mobility became a thing," a former Kittyhawk employee recalled. Everyone thought: If Larry Page is in this space, there must be something here." Interpreting "Larry-isms" or "learning to speak Larry" were essential skills for any Kittyhawk employee who wanted to retain their sanity.

☆ Joby Aviation names former FAA administrator as director
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON March 24 (Reuters) - Joby Aviation (JOBY.N), which is developing electrical aircraft to operate as air taxis, on Friday named former Federal Aviation Administration (FAA) head Michael Huerta to its board of directors. Joby is pushing to win FAA certification for its vertical take-off and landing aircraft ahead of starting planned commercial passenger service in 2025. Huerta served as FAA administrator from 2013 to 2018 after three years as deputy administrator. Joby CEO JoeBen Bevirt said Huerta's seat on both boards "will be invaluable as we prepare for commercial operations." The FAA in November issued airworthiness criteria for Joby to certify its Model JAS4-1 aircraft.

☆ Beta Technologies lands orders for fixed-wing electric aircraft
▼ + stars: | 2023-03-14 | by ( Valerie Insinna | ) www.reuters.com time to read: +2 min

WASHINGTON, March 14 (Reuters) - Beta Technologies is pursuing Federal Aviation Administration (FAA) certification for a fixed-wing electric airplane after receiving orders from three customers, the company announced Tuesday. The privately-held, Vermont-based startup sees certification of the CX 300 – a conventional takeoff and landing version of its Alia 250 electric vertical takeoff and landing (eVTOL) aircraft - as a path to introduce an electric aircraft into U.S. airspace under existing regulations, Chief Executive Kyle Clark told Reuters. Bristow Group, a helicopter service provider that has previously ordered eVTOL aircraft from Beta, has placed an order for up to 50 CX 300 electric planes, Beta said. As the air transport industry works to lower carbon emissions, electric "air taxis" are seen as a potential gamechanger that would allow airlines and other companies to shuttle people and goods by air over short distances. If successful, Beta can reuse much of the data to certify its eVTOL Alia aircraft, which uses the same airframe, batteries and propulsion system, Clark said.

☆ Stocks making the biggest moves midday: Rivian, Delta, Snap, Dish Network and more
▼ + stars: | 2023-03-07 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

United Airlines — United Airlines gained 4.4%, as the broader airline space got a boost after the Justice Department sued to block JetBlue's acquisition of American Airlines. Snap — The tech company's stock gained 4.1%, adding to the 13% it gained on Monday. Dish Network -- The stock climbed 7.4% after Dish co-founder and Executive Vice President James DeFranco disclosed the purchase of 1.45 million shares. DXC Technology — Shares fell 4.5% after DXC Technology said talks of a possible acquisition of the information technology company by a financial sponsor were terminated. Bank stocks — Bank stocks fell after Fed Chair Jerome Powell suggested that rates may need to go higher for longer.

☆ Deutsche Bank downgrades Joby, says risks to electric aircraft stock are being overlooked
▼ + stars: | 2023-03-07 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Investors may be overlooking risks in Joby Aviation , a company known for making electric aircrafts, Deutsche Bank warned. Analyst Edison Yu downgraded the stock to sell from hold. Yu noted that the weight of the aircraft has raised questions and led him to wonder if the design is "overly aggressive." He also said there is not good visibility on the regulation and certification process for its aircraft with different parts of the project at different stages. But Yu did note the company is considered a leader in the space despite those caveats.

☆ Stocks making the biggest premarket moves: Meta, Rivian, WW International, KeyCorp and more
▼ + stars: | 2023-03-07 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

WW International — Shares of company formerly known as Weight Watchers jumped as much as 17.6% in premarket trading after announcing a deal to acquire telehealth firm Sequence. The Wall Street firm said the aircraft's weight has raised questions and led him to wonder if the design is "overly aggressive." Its price target of $39 implies 24.5% upside from Monday's close. The Wall Street firm said there is a large unmet need for resistant hypertension treatment and said Mineralys has "potential best-in-class" data. The Wall Street firm said Hensai "outshines peers, with its superior scale and margin, and its strong project pipeline."

☆ A South Korean telecoms giant wants to launch flying taxis in 2025 and expects it to be big business
▼ + stars: | 2023-02-27 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

BARCELONA, Spain — South Korean telecommunications giant SK Telecom is planning to launch a flying taxi service in 2025 and expects it to generate "significant" revenue going forward, a senior executive told CNBC. Last year, SK Telecom and U.S. firm Joby Aviation inked a tie-up to develop air taxis for the South Korean market. Joby Aviation is a maker of so-called electric vertical take-off and landing vehicles. The South Korean government is pushing forward with trying to commercialize air taxis by 2025. SK Telecom and Joby Aviation are looking to take advantage of the government backing.

☆ Embraer's electric aircraft maker Eve 'on track' to start service in 2026
▼ + stars: | 2023-02-17 | by ( Gabriel Araujo | ) www.reuters.com time to read: +3 min

SAO PAULO, Feb 17 (Reuters) - Electric aircraft maker Eve Holding Inc (EVEX.N) is "on track" to meet its goal of starting commercial operations in 2026, an executive said on Friday, and getting its aircraft certificated is the most immediate target. Eve is confident about the "robust project," which is backed by Embraer's expertise, said Mauad, reiterating the goal of starting operations in 2026. BNDES later announced it would grant Eve an additional 490 million reais ($94.47 million). Mauad acknowledged a consolidation process could happen in the sector, but noted Eve was still particularly focused on working through its partnerships. ($1 = 5.1871 reais)Reporting by Gabriel Araujo; Editing by Anthony Esposito and Susan FentonOur Standards: The Thomson Reuters Trust Principles.

☆ The pilot shortage is slowly easing — but isn't going away anytime soon. Autonomous planes could fill the gap.
▼ + stars: | 2023-02-10 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +3 min

The pilot shortage is estimated at 18,000 commercial aviation pilots in 2023, and 17,000 in 2030. An autonomous urban mobility flight is estimated to cost half of a piloted urban mobility flight. Sign up for our newsletter for the latest tech news and scoops — delivered daily to your inbox. Previous estimates had put the shortage closer to 65,000 — before updates put the number at around 17,000 earlier this year. According to the report, the total cost per passenger-seat-kilometer of an autonomous urban mobility flight is half the cost of a piloted urban mobility flight, making a case for developing pilot-less technologies.

☆ United States, South Korea to partner on advanced air mobility development
▼ + stars: | 2023-01-07 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 7 (Reuters) - The U.S. Federal Aviation Administration (FAA) said on Saturday it had agreed to partner with the Korea Office of Civil Aviation (KOCA) future Advanced Air Mobility aircraft development and operations. The two nations signed a declaration to collaborate and share information on advanced air mobility projects and work together to promote the safety oversight of advanced air mobility projects, the U.S. regulator said. The FAA has previously announced similar partnerships with Japan, the United Kingdom, Canada, Australia and New Zealand in the National Aviation Authorities Network to harmonize certification and integration plans for advanced air mobility projects. Last month, the FAA issued the airworthiness criteria that Archer Aviation (ACHR.N) will need to meet for its M001 air taxi to be certified for use. The FAA released the criteria for public comment of Archer's eVTOL after it made a similar announcement in November for Joby Aviation's (JOBY.N) Model JAS4-1 eVTOL.

☆ U.S. FAA proposes airworthiness criteria for Archer Aviation air taxi
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, Dec 19 (Reuters) - The Federal Aviation Administration (FAA) on Monday issued the airworthiness criteria that Archer Aviation (ACHR.N) will need to meet for its M001 air taxi to be certified for use. The FAA released the criteria for public comment for Archer's electric vertical takeoff and landing (eVTOL) aircraft to be certified after it made a similar announcement in November for Joby Aviation's (JOBY.N) Model JAS4-1 eVTOL. Archer said earlier this month it is working to win FAA certification of its eVTOL in late 2024. Reporting by David ShepardsonOur Standards: The Thomson Reuters Trust Principles.

☆ Cramer's lightning round: Lucid Group is too dangerous to own here
▼ + stars: | 2022-12-16 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: 1 min

Loading chart...Brookfield Renewable Partners : "I've been skeptical of that one ... but I am willing to reopen the books, and see if there isn't something here we can't find." Loading chart...Loading chart...Lucid Group : "We don't want to fool around with that. I think that one is just too dangerous." Loading chart...Joby Aviation : "Joby Aviation ... is like a Jules Verne story. ... Let's leave it like a story and not think of it as a stock."

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