DIRS.INFO The most relevant business & tech news

☆ NBA roundup: Knicks get by Wizards, clinch playoff berth
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +10 min

[1/4] Apr 2, 2023; New York, New York, USA; New York Knicks guard Quentin Grimes (6) dribbles against Washington Wizards forward Corey Kispert (24) during the second half at Madison Square Garden. New York led by no fewer than eight and by as many as 20 the rest of the way. Atlanta got 25 points from Dejounte Murray, 18 points and 10 rebounds from John Collins and 14 points and 11 boards from Clint Capela. Dallas also got 22 points, seven rebounds and seven assists from Doncic and 18 points from Wood. The Rockets' starting backcourt of Kevin Porter Jr. and Jalen Green combined for 44 points with Green adding seven assists.

☆ Montenegro run-off presidential election under way
▼ + stars: | 2023-04-02 | by ( ) www.reuters.com time to read: +3 min

[1/13] A man prepares to vote at a polling station during the run-off presidential election in Podgorica, Montenegro, April 2, 2023. REUTERS/Marko DjuricaPODGORICA, April 2 (Reuters) - Montenegrins went to the polls on Sunday in a run-off presidential election pitting incumbent Milo Djukanovic against a Western-educated economist pledging to lift the nation out of a crisis marked by no-confidence votes in two governments. He led Montenegro to independence from a state union with much larger Serbia in 2006 and to NATO membership in 2017. Although the presidential post in Montenegro is largely ceremonial, victory in the election would bolster the chances of the winner's party in June. After Russia's invasion of Ukraine last year, Montenegro joined EU sanctions against Moscow and expelled a number of Russian diplomats.

Among major S&P 500 sectors, technology (.SPLRCT) has quarterly gains of about 20%, while the financials index (.SPSY) is set for its worst quarter since June. A closely watched Commerce Department report on Friday showed U.S. consumer spending rose moderately in February, while inflation also cooled. Limiting gains, Micron Technology (MU.O) dropped 2.7% after news that China was set to review the chipmaker's products sold in the country. Advancing issues outnumbered decliners by a 5.73-to-1 ratio on the NYSE and by a 2.76-to-1 ratio on the Nasdaq. The S&P index recorded 14 new 52-week highs and no new low, while the Nasdaq recorded 57 new highs and 98 new lows.

☆ Nikola tumbles to record low on $100 million stock sale
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

March 31 (Reuters) - Shares of Nikola Corp (NKLA.O) hit a record low on Friday after the electric-truck maker said it plans to sell shares and raise $100 million, amid high production costs. Nikola said late Thursday it will sell about 29.9 million shares in public offering and 59.4 million shares to hedge fund Antara Capital L.P., an existing holder of the company's convertible bonds. Nikola fell to $1.15 per share after offering shares to raise capital"Despite the $100 million cash injection, management still has a lot of work to do to balance cash burn against its existing cash," said BTIG analyst Gregory Lewis, and downgraded the stock to "neutral" from "buy". The company said it has $123 million in cash and $85 million in restricted cash as of March 28. Last year, the company had said it might sell shares to raise up to $400 million.

☆ Nikola shares sink after its $100 million stock offering priced at 20% below market
▼ + stars: | 2023-03-31 | by ( John Rosevear | ) www.cnbc.com time to read: +1 min

Electric heavy-truck maker Nikola said that its planned $100 million secondary stock offering, announced on Thursday after U.S. markets closed, has priced at $1.12 per share – 20% below the stock's closing price of $1.40. Even with the discount, there appears to have been very limited interest in the shares on Wall Street. An unnamed private investor has agreed to buy the remainder directly from Nikola, the truck maker said. Nikola had $233.4 million in cash and equivalents available as of Dec. 31. The truck maker lost $222.1 million in the fourth quarter of 2022.

☆ Stocks making the biggest moves midday: Bed Bath & Beyond, Digital World Acquisition, Nikola and more
▼ + stars: | 2023-03-31 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

An exterior view of a Bed Bath & Beyond store on February 7, 2023 in Clifton, New Jersey. Digital World Acquisition — Shares of the SPAC linked to former President Donald Trump advanced 6.3%. Nikola — Nikola shares sank 11% after the electric-truck maker announced plans for a $100 million secondary stock offering priced 20% below Thursday's close. Regional banks — Shares of closely followed regional bank stocks advanced, with the SPDR S&P Regional Banking ETF (KRE) up 0.8%. elf Beauty — The cosmetic company's stock gained 5.2%, reaching a 52-week high.

☆ Electric truck maker Nikola is planning to sell its own shares at a 20% discount to their lowest ever price
▼ + stars: | 2023-03-31 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +2 min

Nikola is planning to raise $100 million by selling its stock at a huge discount. The electric truck manufacturer said Thursday that it would sell shares at $1.12, or 20% below their lowest ever price. The electric truck manufacturer said in a statement Thursday that it planned to raise the $100 million by selling 29.9 million shares to the public and another 59.4 million shares to an unnamed investor. It's pricing the shares at just $1.12 as part of the stock offering, a 20% discount to the all-time low of $1.40 they had fallen to by Thursday's closing bell. Nikola shares have cratered around 95% since Hindenburg released its first report into the company on September 10.

A special Kosovo court set up in The Hague indicted Thaci in November 2020 on 10 counts of war crimes and crimes against humanity including persecution, murder, torture and enforced disappearance of people among other things during the uprising. Thaci, 54, resigned as president shortly afterward and was transferred to detention in The Hague. As the fighting abated and Serbian forces withdrew under NATO bombardment from Kosovo, Thaci traded in his green uniform for a blue suit and tie. Milosevic went on trial before a separate U.N. tribunal in The Hague for war crimes against Kosovo Albanians in the conflict, but he died in 2006 before a verdict was reached. Some senior Serbian officials including then-army chief Nebojsa Pavkovic and deputy prime minister Nikola Sainovic were sentenced to long prison terms over war crimes in Kosovo.

☆ Stocks making the biggest moves premarket: Bed Bath & Beyond, Nikola, Virgin Orbit and more
▼ + stars: | 2023-03-31 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Bed Bath & Beyond – Bed Bath & Beyond shares dipped 2% before the bell, building on a more than 26% loss from Thursday's session. Virgin Orbit — Virgin Orbit shed nearly 43% after announcing that it would halt operations "for the foreseeable future" as it fails to secure funding. Virgin Orbit also said it will eliminate about 90% of its workforce. BlackBerry — Shares fell about 2% after the software company posted fourth-quarter revenue that fell slightly short of consensus estimates. Regional bank stocks — Some regional bank stocks that have been volatile in recent weeks rose Friday.

☆ Nikola announces a $100 million stock offering
▼ + stars: | 2023-03-30 | by ( John Rosevear | ) www.cnbc.com time to read: +1 min

Electric heavy-truck maker Nikola said on Thursday that it plans to raise $100 million via a secondary stock offering to the public and — possibly — a private sale of stock to an unnamed investor, if needed. First, the company said, it will offer up to $100 million worth of stock to the public via a traditional secondary offering, with Citigroup underwriting. If the public offering raises less than $100 million, that investor has agreed to buy the remainder at the public offering price. Either way, Nikola will raise $100 million before fees, money that it plans to use for working capital and other general purposes. Nikola had $233.4 million in cash and equivalents available as of Dec. 31, down from $315.7 million at the end of September.

☆ NBA roundup: Nuggets belt Bucks in matchup of titans
▼ + stars: | 2023-03-26 | by ( ) www.reuters.com time to read: +4 min

Antetokounmpo was aggressive from the start, with 13 points in the first quarter and 24 at halftime. But the Bucks went 4:10 without a point in the fourth period as the Nuggets built a 20-point lead. Booker led six Suns scoring at least 13 points. Biyombo also grabbed a game-high 13 rebounds. Tyrese Haliburton added 19 points and 13 assists.

☆ NBA roundup: Warriors withstand Joel Embiid's 46-point game
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +7 min

[1/5] Mar 24, 2023; San Francisco, California, USA; Golden State Warriors guard Stephen Curry (30) dribbles the basketball against the Philadelphia 76ers in the fourth quarter at Chase Center. A 23-9 run in the first 5:59 out of the locker room quickly flipped the game in the Kings' favor. Booker finished with 32 points, 14 in the fourth quarter, and Ross' 30 points marked a season high. Italian rookie Simone Fontecchio led Utah with 26 points, while Kelly Olynyk chipped in with 16 points and seven rebounds. Haliburton and Myles Turner each scored 20 points to lead Indiana, which trailed by 29 in the fourth quarter.

☆ Twitter founder Jack Dorsey's net worth dropped by more than $500 million after US short seller Hindenburg targeted his payments company Block
▼ + stars: | 2023-03-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Jack Dorsey's wealth tumbled after Hindenburg Research targeted his payments company Block, per Bloomberg. The short seller alleged Block misled investors "with inflated metrics"Block's share price tumbled as much as 22% on Thursday on Hindenburg's report. Block's share price tumbled as much as 22% on Hindenburg's report before closing 15% lower at $61.88 apiece on Thursday. It said Hindenburg's attacks are designed "solely to allow short sellers to profit from a declined stock price." In 2020, Hindenberg accused electric truck maker Nikola of fraud, which also sent its share price slumping.

☆ Short-seller Hindenburg targets Jack Dorsey’s Block
▼ + stars: | 2023-03-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN —Shares of Block, the company behind Cash App, plunged by 20% Thursday morning after the release of a searing report from short-seller Hindenburg Research that accused Jack Dorsey’s company of allowing fraudulent accounts that obscure criminals involved in illegal or illicit activities, including the sex trafficking of minors. Hindenburg’s attack on Block comes two months after the short seller’s allegations against Adani Group erased billions of dollars from the Indian conglomerate’s balance sheets. In 2021, members of the “Cash App” gang were charged with distributing fentanyl, the report said. Hindenburg, meanwhile, has made a name for itself by publishing explosive reports about businesses and short-selling the stocks of the companies associated with them. Hindenburg has targeted nearly 30 companies since 2020, and on average their targets lost about 15% on the day the reports were released, according to Bloomberg calculations.

☆ NBA roundup: Spurs overcome 24-point deficit, down Hawks
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +7 min

Dejounte Murray led the Hawks with 22 points in his return to San Antonio after being traded by the Spurs in the offseason. Onyeka Okongwu added 17 points, with Clint Capela racking up 15 points and 12 rebounds. Bam Adebayo supplied 22 points, 10 rebounds, five assists and three blocks for Miami. Tyler Herro had 19 points and six rebounds, Caleb Martin tossed in 13 points and Kevin Love added 12 points and eight rebounds. Fred VanVleet's 23 points led four Raptors scoring at least 18.

☆ Vietnam's VinFast says three sales executives have left EV company
▼ + stars: | 2023-03-17 | by ( Phuong Nguyen | ) www.reuters.com time to read: +3 min

REUTERS/Lisa Baertlein/File PhotoHANOI, March 17 (Reuters) - Vietnamese electric-vehicle (EV) start-up VinFast said on Friday three senior sales and customer-service have left the company this week. In a statement to Reuters, VinFast said Gareth Dunsmore, deputy chief executive for global sales and marketing, had left "due to personal reasons and we respect his decision". VinFast has been selling the first batch of VF8s, rebranded as the City Edition to account for the lower range, on lease in California. In June, VinFast said it had ended its contract with Franck Euvrard, the predecessor as deputy CEO for global sales to just-departed Dunsmore. VinFast lost $2.1 billion in 2022 on revenue of $634 million, it said in a registration statement for an IPO.

☆ NBA roundup: Joel Embiid (42) guides Sixers past Pacers
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +5 min

[1/3] Mar 6, 2023; Indianapolis, Indiana, USA; Philadelphia 76ers center Joel Embiid (21) shoots the ball while Indiana Pacers center Myles Turner (33) defends in the second half at Gainbridge Fieldhouse. Tyrese Maxey made six 3-pointers and scored 24 points for Philadelphia, and James Harden contributed 14 points, 20 assists and nine rebounds. Boston got 32 points, 13 rebounds and nine assists from Jaylen Brown. Trail Blazers 110, Pistons 104Damian Lillard recorded 31 points, 13 rebounds and 12 assists as visiting Portland handed Detroit its eighth consecutive loss. Cory Joseph had 14 points, Jaden Ivey contributed 13 points and 13 assists and Alec Burks also scored 13 points.

☆ NBA roundup: Red-hot Knicks outlast Celtics in double OT
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +10 min

Julius Randle added 31 points and nine rebounds for the Knicks, who also received 29 points and 11 rebounds from RJ Barrett. Jayson Tatum had 40 points, 11 rebounds and six assists for the Celtics, who have lost their last two home games. Bennedict Mathurin scored 17 points, Myles Turner added 16 and Chris Duarte had 15 for Indiana. Kelly Oubre Jr. scored 17 points for Charlotte, which dropped its third straight. Walker Kessler (17 points, 10 rebounds) and Kelly Olynyk (15 points, 10 rebounds) each had double-doubles in the loss.

☆ NBA roundup: Nets stun Celts with NBA's biggest comeback of season
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +7 min

Cam Johnson added 20 points for the Nets, who also received 17 points apiece from Spencer Dinwiddie and Dorian Finney-Smith. Jayson Tatum, who turned 25 on Friday, finished with 22 points and 13 rebounds, but he missed all eight of his 3-point attempts. Terry Rozier posted 22 points, Gordon Hayward 17 and Mark Williams 13 points for Charlotte, which was hurt by 21 turnovers. Kings 128, Clippers 127De'Aaron Fox recorded 33 points, seven rebounds and seven assists and Sacramento won its fifth straight game by prevailing over visiting Los Angeles. Jonathan Kuminga, coming off the Golden State bench, chipped in with 19 points, seven rebounds and four steals.

☆ Polestar cuts annual losses in half as it ramps up EV production
▼ + stars: | 2023-03-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Swedish electric vehicle maker Polestar cut its annual net losses in half last year, while revenue surged and it attempted to set itself apart from other EV startups. The company on Thursday reported an 84% increase in revenue for 2022 to roughly $2.5 billion as it exceeded a 50,000-vehicle delivery target. The majority of that increase will come from an updated Polestar 2 EV, according to Ingenlath. The company is releasing two new EVs this year – Polestar 3 and Polestar 4 – that are expected to hit their production strides in 2024. Polestar's relatively positive results come after other EV startups like Lucid , Nikola and Rivian reported ongoing problems with supply chains and production, causing them to miss production or sales targets.

☆ VinFast delivers first 45 cars in US market
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +3 min

[1/3] VinFast electric vehicles are parked before delivery to their first customers at a store in Los Angeles, California, U.S., March 1, 2023. REUTERS/Lisa BaertleinMarch 2 (Reuters) - Vietnamese electric vehicle maker VinFast delivered its first 45 cars to customers in California on Wednesday, its first sales outside Vietnam. Last week, the company slashed the lease price on the VF8 electric crossover by 50%. It also dropped an option for consumers to rent the electric car's battery, a plan it had advertised as a way to bring down the cost of ownership. Andrew and Nikki Le, who ordered 11 VinFast cars, took delivery of the first of those at the store.

That is one of the cheapest prices in the EV group, and Fisker, which has produced only 56 vehicles so far, saw orders improve. Nikola said issues hurting demand for its battery-powered trucks would not ease any time soon. Rivian forecast 2023 production well below analyst estimates on Tuesday, citing nagging supply chain shortages, sending shares down 8% in after-hours trading. Bowe oversees investments in a host of startups, including EV charging companies, and said she was looking at investment opportunities in EV makers. But the four companies have already lost a combined $84 billion in value over the past year, given production woes and supply chain disruptions.

☆ NBA roundup: Spurs top Jazz, end 16-game skid
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +9 min

Jeremy Sochan added 13 points and Devonte' Graham had 12 for the Spurs, who got just their 15th win. Lauri Markkanen scored 28 points with 10 rebounds for Utah, Talen Horton-Tucker scored 16 points and Walker Kessler contributed 10 points and 15 boards. The Bucks are on their fifth 15-game winning streak in team history and second in four seasons after winning 18 straight Nov. 10-Dec. 14, 2019. Spencer Dinwiddie added 26 points, but Brooklyn scored only 19 points in the fourth and dropped its third straight. Zach LaVine added 17 points, DeMar DeRozan scored 13 points and Ayo Dosunmu scored 10.

☆ NBA roundup: Damian Lillard erupts for 71 in Blazers' win
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +7 min

Jerami Grant added 13 points and Nassir Little scored 11 for Portland, which connected on 54.5 percent of its field goal attempts and was 20 of 39 from 3-point range. Doncic scored 26 points with nine rebounds, while Irving had 21 points and 11 assists. Ayton also grabbed a team-high 11 rebounds and blocked three shots. Nikola Vucevic added 16 points and 13 rebounds for his 39th double-double of the season, third most in the NBA. Jakob Poeltl added 13 points and nine rebounds for the Raptors, who were coming off a win over the host Detroit Pistons on Saturday.

☆ Fisker confirms Ocean EV deliveries will begin this spring, on track to build over 40,000 in 2023
▼ + stars: | 2023-02-27 | by ( John Rosevear | ) www.cnbc.com time to read: +3 min

Henrik Fisker stands with the Fisker Ocean electric vehicle after it was unveiled at the Manhattan Beach Pier ahead of the Los Angeles Auto Show and AutoMobilityLA on November 16, 2021 in Manhattan Beach, California. Electric vehicle startup Fisker said Monday that it spent less money in 2022 than expected, and that it remains on track to begin deliveries of its Ocean SUV this spring and to build more than 40,000 vehicles in 2023. "These results reinforce our expectation that, at the time of launch, the Fisker Ocean will have the longest range of any SUV/Crossover priced below $70,000," he said. Fisker expects to complete the testing needed for regulatory approval of the Ocean next month, and to ramp up production – and begin deliveries -- in the second quarter. Fisker spent a total of $702 million in 2022, a bit below its guidance range of $715 million to $790 million.

Search resuls for: "nikola"

25 mentions found