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☆ Nikola exits European joint venture to focus on hydrogen trucks in North America
▼ + stars: | 2023-05-09 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +2 min

Electric heavy truck maker Nikola said that it's "refocusing the company on North America" as it exited a European joint venture with its chassis supplier. Adjusted loss per share: 26 cents, versus 26 cents expected. 26 cents, versus 26 cents expected. Revenue: $11.1 million, versus $12.5 million expected. While it expects the fuel-cell truck to become its primary product, it will continue to build battery-electric trucks to order after production of the fuel-cell truck begins, it said.

☆ Stock Market News: Dow Futures Tick Lower
▼ + stars: | 2023-05-09 | by ( ) www.wsj.com time to read: +1 min

Stock futures traded lower Tuesday as investors waited for another batch of earnings reports. Oil prices dropped after Chinese trade data disappointed, indicating the world's second largest economy is revving back up slower than expected. U.S. stock futures edge lower. Oil prices looked set for further volatility, with Brent crude falling 1% to $76.25 a barrel after jumping 2.3% in the previous session. The Hang Seng index fell 2.1% while the Shanghai Composite index fell 1.1% after data showed China’s imports slumped 7.9% in April.

☆ An MVP Shoves. An NBA Team Owner Falls. The Basketball World Decides: ‘Flop or Foul?’
▼ + stars: | 2023-05-08 | by ( Robert O Connell | ) www.wsj.com time to read: 1 min

In the NBA playoffs, players will do anything for an edge. But what about team owners? That question came up almost halfway through Sunday night’s game between the Denver Nuggets and Phoenix Suns. After Phoenix’s Josh Okogie sailed into the courtside seating to chase a loose ball, Denver star Nikola Jokic rushed to collect it, hoping to inbound the ball before Okogie had recovered. When Jokic tried to pry it from a spectator’s hands in Phoenix’s Footprint Center, a comedy of retaliatory gamesmanship ensued.

☆ S&P 500 futures are flat as investors await closely followed inflation data: Live updates
▼ + stars: | 2023-05-08 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

S&P 500 futures are little changed Monday night as investors readied for key inflation reports due later in the week. S&P 500 futures inched down by 0.05%, while Nasdaq-100 futures shed 0.1%. The S&P 500 finished 0.05% higher, while the Nasdaq Composite ended with a gain of nearly 0.2%. Fox Corp. and Nikola are among companies set to report quarterly earnings before the bell, followed by Airbnb and Rivian after the market closes. Earnings season is beginning to wind down with more than 85% of the stocks in the S&P 500 done reporting.

☆ Jokic fined $25,000, will not be suspended for Ishbia incident
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +1 min

May 8 (Reuters) - Denver Nuggets center Nikola Jokic will not face a suspension after making contact with Phoenix Suns owner Mat Ishbia during Game 4 of their conference semi-finals playoff series on Sunday. The NBA handed Jokic a $25,000 fine after he made contact with Ishbia in an attempt to take the game ball away from him and again when the game ball went further into the crowd at Phoenix's Footprint Center. The Suns won Game 4 129-124 to level the series. Ishbia previously said on Twitter that Jokic, a two-time MVP, should not receive a suspension. I have a lot of respect for Jokic and don’t want to see anything like that," he said.

May 5 (Reuters) - U.S. electric-vehicle startups are expected to report another quarter of dwindling cash reserves next week, piling pressure on a group of companies that are struggling to ramp up production and have few options for funding in a turbulent economy. Lucid Group (LCID.O) kicks off first-quarter earnings for the group on Monday, with the company expected to report a 36% sequential slide in cash reserves, according to Visible Alpha. Rivian Automotive (RIVN.O), meanwhile, will likely report on Tuesday that its cash balance fell by 6.8% to $10.78 billion from the preceding quarter, per a Visible Alpha estimate. Fisker Inc (FSR.N) and Nikola (NKLA.O), both of which report earnings on Tuesday, are expected to see their cash reserves decline by 5% and 15%, respectively, according to Visible Alpha. Its earnings in an unscheduled release on Thursday showed Lordstown's cash balance fell 11% sequentially.

BELGRADE, May 3 (Reuters) - Serbia, where a schoolboy opened fire on his classmates on Wednesday, has an entrenched gun culture, especially in rural areas, but also strict gun control laws. Tens of thousands of illegal firearms have since been handed over or registered in amnesties. People over the age 18 may own firearms only with a permit issued after a thorough background check with police. Gun owners are also required to pass a training course and a questionnaire about gun legislation. In the deadliest shooting in Serbia since the 1990s, Ljubisa Bogdanovic killed 14 people in the central village of Velika Ivanca in 2013 before committing suicide.

☆ Philadelphia 76ers Embiid wins first MVP award
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +1 min

May 2 (Reuters) - Philadelphia 76ers center Joel Embiid has won the NBA's Most Valuable Player award for the first time, the league announced on Tuesday. Embiid was chosen over Denver Nuggets center Nikola Jokic, to whom he lost the award in the past two seasons, and Milwaukee Bucks forward Giannis Antetokounmpo, who won back-to-back awards in 2019 and 2020. The Cameroonian big man received 73 first-place votes from a panel of 100 broadcasters and journalists, marking the fifth consecutive win for an international player. The 29-year-old is only the second African player to become MVP after Nigerian-American Hakeem Olajuwon from the Houston Rockets in the 1993-94 season. The MVP trophy was renamed this season after Michael Jordan, widely regarded as one of the greatest players of all time.

☆ Embiid hopes 'improbable' path to MVP will inspire
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +2 min

May 3 (Reuters) - National Basketball Association (NBA) MVP Joel Embiid hopes to be a role model of perseverance after overcoming extraordinary odds, the Philadelphia 76ers center said on Wednesday. "I felt like it was kind of my fault because I left Cameroon, I left, you know, my family. I felt like I should have been there to do something," said Embiid, who missed the first two seasons of his career with a broken foot. Embiid, who came second in MVP voting to Denver Nuggets center Nikola Jokic in the last two seasons, produced an undeniable MVP campaign this time around, averaging a career-high 33.1 points per game, with 10.2 rebounds and 4.2 assists. Reporting by Amy Tennery in New York Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

☆ Nikola Jokic Gets More Kicks—Literally—Than Anyone in Basketball History
▼ + stars: | 2023-05-02 | by ( Robert O Connell | ) www.wsj.com time to read: 1 min

Nikola Jokic has always been a spectacle on offense. Despite his non-chiseled build and lack of top-percentile athleticism—six-feet-11 and 284 pounds, without much foot speed or vertical leap to speak of—the Denver Nuggets’ center plays basketball like a ballet dancer. In the opener of their conference semifinal against the Phoenix Suns on Saturday, Jokic flung his usual inch-perfect passes and twirled through the lane, leading Denver to their first win in what became, Monday night, a 2-0 series lead. On defense, though, Jokic tends to be as lumbering as he is graceful at the other end. Most opposing dribblers can edge past the twice-reigning MVP, and almost everyone in the NBA can outjump him.

☆ Nikola, Voltera partner to set up 50 hydrogen fueling stations in N. America
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: 1 min

May 2 (Reuters) - Electric-vehicle startup Nikola Corp (NKLA.O) said on Tuesday it has partnered with charging facilities operator Voltera to develop up to 50 HYLA-brand hydrogen fueling stations in North America over the next five years. The agreement underpins Nikola's previously announced plan to develop 60 stations by 2026. "Our partnership with Voltera will bring substantial capital and expertise to support Nikola's plans to build refueling infrastructure to support its customers," said Carey Mendes, President of Nikola Energy. Voltera will build, own and operate the stations, while Nikola will supply the hydrogen fuel and provide technical expertise, the EV company said. Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

In a report published on Tuesday, Hindenburg accused IEP of overvaluing its holdings and relying on a "Ponzi-like" structure to pay dividends. The subsequent plunge in IEP shares wiped $2.9 billion off Icahn's net worth, leaving him with an estimated $14.7 billion, according to Forbes. NAV is a key gauge of a fund's performance, measuring the market value of securities held by the fund. Driving the frothiness in IEP's stock, Hindenburg argued, is its dividend yield of 15.8%, the highest of any U.S. large cap company by far. Hindenburg also offered examples it said showed IEP itself was valuing its holdings way above their market value.

☆ Short investor Hindenburg erases fifth of Icahn empire’s value
▼ + stars: | 2023-05-02 | by ( ) edition.cnn.com time to read: +4 min

In a report published on Tuesday, Hindenburg accused IEP of overvaluing its holdings and relying on a “Ponzi-like” structure to pay dividends. The subsequent plunge in IEP shares wiped $2.9 billion off Icahn’s net worth, leaving him with an estimated $14.7 billion, according to Forbes. NAV is a key gauge of a fund’s performance, measuring the market value of securities held by the fund. Driving the frothiness in IEP’s stock, Hindenburg argued, is its dividend yield of 15.8%, the highest of any US large cap company by far. Hindenburg also offered examples it said showed IEP itself was valuing its holdings way above their market value.

☆ Manhattan federal prosecutor joins Kramer Levin law firm
▼ + stars: | 2023-05-02 | by ( Chinekwu Osakwe | Thomson Reuters | Chinekwu Osakwe Covers Legal Industry News With A Focus On Midsize Law Firms. Reach Her At Chinekwu.Osakwe Thomsonreuters.Com. | ) www.reuters.com time to read: +1 min

Law Firms Kramer Levin Naftalis & Frankel LLP Follow(Reuters) - New York-founded law firm Kramer Levin Naftalis & Frankel said Tuesday that it has hired former Assistant U.S. Attorney Jordan Estes, who co-led the general crimes unit in the Southern District of New York, for its white-collar and government investigations practice. Estes was the lead or co-lead prosecutor on 13 criminal trials ranging from securities fraud matters, insider trading, bank fraud, health care fraud and racketeering, Kramer Levin said. Estes helped secure last year's conviction of Trevor Milton, the founder of electric vehicle company Nikola Corp, on charges that he defrauded investors. In February, prominent Kramer Levin white-collar partner Barry Pollack left the firm to join New York midsize law firm Harris St. Laurent & Wechsler's new Washington, D.C. office. Read More:N.Y. law firm launches in D.C. with white-collar duoOur Standards: The Thomson Reuters Trust Principles.

☆ NBA roundup: Hawks use late rally to stay alive
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

Boston's Jaylen Brown (35 points) posted his second straight 30-plus-point game and Jayson Tatum had 19 points, eight rebounds and eight assists. Jamal Murray scored 35 points, Bruce Brown and Aaron Gordon each had 14 and Michael Porter Jr. grabbed 10 rebounds for Denver. The top-seeded Nuggets are headed to the Western Conference semifinals for the fourth time in five seasons. Anthony Edwards put up 29 points, Karl-Anthony Towns had 26 points and 11 rebounds and Rudy Gobert had 16 points and 15 rebounds for the eighth-seeded Timberwolves. Kevin Durant scored 31 points and Deandre Ayton added 21 points and 11 rebounds for the No.

☆ NBA roundup: Warriors survive late gaffe, tie series with Kings
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +4 min

Mike Conley added 19 points, while Karl-Anthony Towns had 17 points and 11 rebounds before fouling out for the Wolves. Nikola Jokic had 43 points and 11 rebounds to pace the Nuggets. Josh Hart chipped in 19 points and seven rebounds for the Knicks, who outrebounded the Cavaliers 47-33. The Hawks were within five points with 3:36 to play, but the Celtics took control by scoring the next seven points. Dejounte Murray finished with 23 points, nine rebounds and six assists.

☆ NBA roundup: Nikola Jokic, Nuggets take command over Wolves
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: +3 min

The top-seeded Nuggets grabbed a 3-0 lead in the best-of-seven series and will aim for a sweep on Sunday in Minnesota. Julius Randle contributed 11 points and eight rebounds despite 3-of-15 shooting, and Immanuel Quickley also scored 11 points. Dejounte Murray added 25 points for Atlanta, which lost the first two games of the series in Boston. Tatum led the Celtics with 29 points and 10 rebounds and added five assists. Marcus Smart finished with 24 points, eight assists and three steals, and Malcolm Brogdon scored 17 points.

☆ NBA roundup: Short-handed Bucks even series with Heat
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +3 min

Jimmy Butler had 25 points to pace the Heat, and Bam Adebayo added 18 points. Jaren Jackson Jr. had 18 points, nine rebounds and three blocked shots and Desmond Bane added 17 points for the second-seeded Grizzlies. LeBron James had 28 points and 12 rebounds and Rui Hachimura added 20 points off the bench for the seventh-seeded Lakers. Michael Porter Jr. scored 16 points and Aaron Gordon had 12 points and 10 rebounds for top-seeded Denver. Denver went on an 8-0 run to open the final quarter, grabbing a 95-89 lead before Minnesota moved in front 99-98.

☆ 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.

Games are split between TNT, ESPN, ABC, and NBA TV; you can stream them with a live TV service like Sling. NBA Playoffs livestream quick linksUS TV broadcasts: TNT, ESPN, NBA TV, ABC/ESPN3 via Sling Orange ($51/month)Watch from anywhere: Use ExpressVPN service to stream from Sling TVStart time: Playoffs being April 15 at 1 p.m. How to watch the NBA Playoffs in the USYou can watch the NBA Playoffs on ESPN, TNT, ABC, and NBA TV, with select games scheduled across each channel. How to watch the NBA Playoffs with a VPNSign up for a VPN if you don't already have one. ET TNT2023 NBA Playoff bracketThe NBA Playoffs bracket includes eight teams from each conference in the first round.

☆ Faraday Future pushes back EV deliveries, looking for cash
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +2 min

Still, the company said its first vehicle would come off the production line on Friday, and shares rose 13% to $0.31. Faraday Future on Thursday said it was in discussions with additional potential investors to secure the funding. Faraday Future has been struggling with a cash crunch and a board reshuffle following a governance dispute with one of its largest shareholders, FF Top Holding. Last November, Faraday Future raised doubts about its ability to continue as a "going concern". But the company managed to secure enough funds in February to start much-delayed production of the FF 91 Futurist last month.

☆ NBA roundup: Warriors hang 157 on Blazers, glide into playoffs
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +12 min

Shaedon Sharpe added 18 points to go with a team-high seven rebounds, while Jeenathan Williams had 17 points for Portland. New Orleans' Brandon Ingram had 42 points and 12 rebounds, CJ McCollum scored 23 points and Trey Murphy III had 20. Lindell Wigginton scored 17 points and Bobby Portis had 16 for the Bucks. Jaden Hardy led all scorers with 25 points, with Theo Pinson forging a triple-double (23 points, 13 rebounds, 12 assists) for the Mavericks. De'Aaron Fox, who scored 13 points, played less than 18 minutes.

☆ Here are Monday's biggest analyst calls: Tesla, Walmart, First Republic, Nikola, McDonald's & more
▼ + stars: | 2023-04-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Monday's biggest calls on Wall Street: Bernstein reiterates Tesla as underperform Bernstein said more price cuts are coming for Tesla. Morgan Stanley reiterates Walmart as overweight Morgan Stanley said its latest survey shows Walmart+ membership is at a record. UBS reiterates McDonald's as buy UBS said the fast food giant is extremely well positioned. UBS upgrades Regions Financial to buy from neutral UBS said in its upgrade of the regional bank that it likes the company's balance sheet. Northcoast upgrades McDonald's to buy from neutral Northcoast said it sees improved profitability for McDonald's .

☆ Stocks making the biggest moves midday: Micron, Pioneer Natural Resources, Block, AMC and more
▼ + stars: | 2023-04-10 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Micron Technology — Micron Technology's shares gained 8% after its rival Samsung Electronics announced that it plans to cut memory chip production in the near term. Excelerate Energy , EQT and other gas stocks — Shares of Excelerate Energy, EQT and other gas stocks ticked higher as natural gas futures climbed. Apple's stock price lost 2%, Google-parent Alphabet shed 2.8% and Microsoft lost 1.4%. New Fortress Energy — The stock gained 4% after Deutsche Bank initiated New Fortress as a buy. AMC's stock price popped 6.7%, IMAX soared by 2% and Cinemark gained 5.7%.

☆ NBA roundup: Mavs' playoff hopes dashed by Bulls
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +9 min

The result ended the Mavericks' hopes of reaching the Western Conference play-in tournament. Chicago, which had already clinched an Eastern Conference play-in spot, played without leading scorers DeMar DeRozan and Zach LaVine as well as Patrick Beverley. Orlando, which was in contention for a play-in spot over the past month following a 5-20 start, played its second game since being eliminated Tuesday. Grizzlies 137, Bucks 114Jaren Jackson Jr. scored 36 points to lead seven Memphis players in double figures as the Grizzlies clinched the No. Pascal Siakam scored 19 points, Precious Achiuwa added 16 points, and Fred VanVleet had 12 points and eight assists.

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