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Rivian also shared an electric vehicle production outlook that fell short of analysts' expectations. First Solar — Shares of First Solar gained 15% after the solar company issued full-year guidance on Tuesday that came out ahead of expectations on per-share earnings and revenue. First Solar reported a fourth-quarter loss of 7 cents per share compared with a 17 cent per-share loss expected by analysts surveyed by FactSet. The company's revenue was in line with analysts' expectations of $1 billion. Ambarella gave first-quarter guidance that missed analysts' expectations on Tuesday, according to FactSet.
Shares of AMC Entertainment more than quadrupled today as investors continue their buying spree on heavily shorted stocks. Baird also trimmed its price target on shares to $252 from $316 a share. AMC Entertainment – AMC Entertainment shares dipped about 3% a day after CEO Adam Aron tweeted that he asked the company's board to freeze his 2023 pay and urged other executives to forgo salary bumps. Maxeon — Shares slid 8% after the solar company announced Bill Mulligan would be the new CEO. The firm gave the stock a price target of $29, which presents an upside of 75.4% over where it closed Tuesday.
Las Vegas Sands , Wynn Resorts — The casino stocks rose following China's announcement that it will end quarantine for international travelers starting Jan. 8. Shares of Las Vegas Sands and Wynn Resorts have outsized exposure to the country given their operations in Macao. B. Riley Financial - Shares of the investment company climbed more than 4% after it released guidance for the fourth quarter. The company said it expects operating adjusted EBITDA of between $90 million and $100 million for the fourth quarter. That is down from the fourth quarter of 2021 but above some previous quarters this year.
Coinbase – The cryptocurrency exchange was up 9.6% after Oppenheimer said Coinbase was well-positioned while the larger sector was having its "Lehman Brothers moment." Rivian – The electric vehicle maker jumped 18% after the company reported a smaller-than-expected quarterly loss and said its production would remain on track despite supply chain snafus. Bumble – Shares of the company known for its dating platforms added 6.4% even after Bumble issued a weak current quarter revenue forecast and missed expectations. ZipRecruiter – The hiring platform jumped 16.5% after it beat expectations for the quarter and raised its full-year forecast. Dutch Bros – Shares of coffee chain Dutch Bros surged 18.2% after the company reported solid quarterly earnings that beat Wall Street expectations.
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