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The logo of Fisker Automotive is pictured on a car at the 2022 Paris Auto Show in Paris, France, October 18, 2022. But Fisker was limited by its delivery and service infrastructure rather than production and demand. "We have not been able to follow through with deliveries fast enough," CEO Henrik Fisker said on the call. "In the course of completing the preparation of the report, the company determined that it has material weaknesses in the company's internal control over financial reporting," Fisker said. The EV company reported a loss of $91 million, missing analysts' estimates for a loss of $75 million, according to Visible Alpha.

Persons: Stephane Mahe, Fisker, Geeta Fisker, Tesla, Elon, Henrik Fisker, Samrhitha Arunasalam, Jaiveer Singh Shekhawat, Akash Sriram, Abhirup Roy, Shounak Dasgupta, Stephen Coates Organizations: Fisker, REUTERS, Ford, General Motors, EV, Alpha, stoke, Revenue, Thomson Locations: Paris, France, U.S, Canada, Austrian, Bengaluru, San Francisco

☆ Stocks making the biggest moves premarket: Rivian, Warner Bros., Lyft and more
▼ + stars: | 2023-11-08 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Lyft — Shares gained 2.9% ahead of the rideshare company's earnings set for release postmarket Wednesday. Analysts surveyed by FactSet's StreetAccount expect 15 cents per share in earnings on revenue of $1.14 billion, while Lyft's past guidance forecast revenue to come in between $1.13 billion and $1.15 billion. eBay — Shares tumbled 6.8% after the online marketplace offered weak guidance for revenue in the current quarter and full year. Otherwise, eBay beat analyst estimates for third quarter earnings per share, while revenue for the period matched the consensus LSEG forecast. Robinhood Markets — Shares dropped 9% after Robinhood reported disappointing third-quarter revenue.

Persons: FactSet's StreetAccount, Goldman Sachs, Robinhood, Estee Lauder —, TD Cowen, Alex Harring, Sarah Min, Michelle Fox Theobald Organizations: eBay, Warner Bros, HBO, Food Network, Network, Studios, Networks, Disney, ESPN Locations: China

☆ Analysts believe Rivian is turning around, Goldman sees 40% upside
▼ + stars: | 2023-11-08 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Rivian shares, meanwhile, are up 9% this month. What analysts are saying Goldman analyst Mark Delaney raised his price target by $2 to $25, implying shares can gain 43.5% from Tuesday's close. "If we gain more conviction in the timing/path to profitability we could be more positive on the stock," Delaney said. RIVN YTD mountain Rivian stock. He still raised his price target by $5 to $24, which implies shares can gain 37.8% over the next 12 months.

Persons: Goldman Sachs, Morgan Stanley, Rivian, Tesla, Ford, Goldman, Mark Delaney, Delaney, Chris McNally, McNally, Wells, Colin Langan, …, Langan, Piper Sandler, Alexander Potter Organizations: General Motors, Ford, Tesla, ISI Locations: North America, Tuesday's, Wells Fargo, Georgia, U.S

An electric pick-up truck is pictured at the Rivian Automotive Inc facility in Costa Mesa, California, U.S.,November 1, 2023. Smaller rival Lucid (LCID.O) cut its production forecast on Tuesday "to prudently align with deliveries", sending its shares down 3%. Last month, it reported third-quarter deliveries above market expectations. The company reported a net loss of $1.37 billion, compared with a loss of $1.72 billion a year earlier. Its third-quarter production fell nearly 30% to 1,550 vehicles.

Persons: Mike Blake, Tesla, Elon Musk, I'm, RJ Scaringe, Scaringe, Rivian, Alec Lucas, Akash Sriram, Zaheer Kachwala, Abhirup Roy, Krishna Chandra Organizations: Rivian Automotive Inc, REUTERS, Rivian, Reuters, Global, Saudi Arabia's Public Investment Fund, Amazon, Wall, Thomson Locations: Costa Mesa , California, U.S, Bengaluru, San Francisco

☆ Rivian Plans to Make More EV Trucks, SUVs in 2023
▼ + stars: | 2023-11-07 | by ( Sean Mclain | ) www.wsj.com time to read: 1 min

Rivian says it has trimmed the losses on each vehicle it sells. Photo: mike blake/ReutersElectric-vehicle startup Rivian Automotive raised its production forecast for the year and said losses narrowed in the third quarter, as the company tries to increase output after a choppy two-year launch. Rivian also said Tuesday it was no longer required to sell its electric delivery vans exclusively to Amazon .com and was in talks with other potential customers. The companies were negotiating an end to the exclusivity part of their agreement after the online retailer’s order came in at the low end of a previously communicated range, The Wall Street Journal reported in March. Amazon owns a nearly 17% stake in Rivian.

Persons: Rivian, blake Organizations: Reuters, Automotive, Street, Amazon Locations: Rivian

☆ Stock Market Today: Dow Futures Waver, UBS Posts a Loss
▼ + stars: | 2023-11-07 | by ( ) www.wsj.com time to read: +1 min

Stock futures ticked lower, suggesting the recent winning streak on Wall Street could come to an end, while Treasurys rallied, bringing down yields. In global markets, UBS posted a larger-than-expected loss on costs related to taking over Credit Suisse. Index futures declined. International stock markets broadly declined. Oil markets retreated, putting benchmark Brent crude on track for its lowest close since August at slightly under $84 a barrel.

Persons: Treasurys, Dow, Bond Organizations: UBS, Credit Suisse, KKR, Carlyle Group, TPG, EBay, Rivian Automotive, Robinhood, Dow industrials, Nasdaq, Treasury, Nikkei, Hang, Brent Locations: Saudi Aramco, Europe

☆ These 4 stocks report quarterly results next week. Here's what we hope to see
▼ + stars: | 2023-11-04 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

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.)

Persons: FactSet, we'll, Hulu —, Krystal, Horton, Zimmer, LEV, Armour, Ralph Lauren Corporation, CRON, Patterson, Walt Disney, MARA, Ginkgo, FREYR Battery, FREY, Arcelor Mittal, Wynn, Jim Cramer's, Jim Cramer, Jim Organizations: Dow Jones, Nasdaq, ISM, Services, Coterra Energy, Emerson Electric, Wall, National Instruments, Disney, Hulu, CNBC, Comcast, ESPN —, Wynn Resorts, WYNN, Asia that's, Wynn, Wynn's, Wynn Interactive, United, Brookfield Asset Management, Axsome Therapeutics, Network Corporation, Krystal Biotech, Ceragon Networks, Kosmos Energy Ltd, TreeHouse Foods Inc, Air Lease Corporation, Inc, Eversource Energy, Fennec Pharmaceuticals Inc, Graham Corporation, Aereas Inteligentes, Hilton, Energy, Realty Income Corp, Semiconductors, Vertex Pharmaceuticals Inc, Clover Health, Contura Energy, Diamondback Energy, FS KKR Capital Corp, Celanese Corp, Eos Energy Enterprises, Goodyear Tire & Rubber Company, WEN, Pall Corp, TransMedics, Emerson, Uber Technologies, Holdings, Melco Resorts, Entertainment, Zimmer Biomet Holdings, ACM Research, Lion Electric Company, Emerson Electric Co, Vertex Energy, Waters Corp, Air Products & Chemicals, Esperion Therapeutics, Fidelity National Information Services Inc, Bowlero Corp, Hotels, KKR, Co, Devon Energy Corp, Occidental Petroleum Corp, Dutch Bros Inc, Gilead Sciences, ContextLogic Inc, Akamai Technologies, Viatris Inc, Technologies, Corsair, Enovix Corporation, eBay, EBAY, DaVita Inc, Pan American Silver Corp, Roblox Corporation, Fisker Inc, Warner Bros ., Nuvei Corporation, Farms, Akebia Therapeutics, Biogen Inc, 3D Systems Corporation, Gray Television Inc, BlackSky Technology Inc, Cronos, EVgo Inc, Lumentum Holdings Inc, Nexstar Media Group, UTI Energy, Starwood Property Trust, AMC Entertainment Holdings, Marathon Digital Holdings, IonQ Inc, Digital Turbine, Virgin Galactic Holdings , Inc, Arm Holdings plc, ARM, Ginkgo Bioworks Holdings, Suncor Energy, AppLovin Corporation, B2Gold Corp, Luminar Technologies, MGM Resorts International, MGM, Bloom Energy Corporation, Li Auto Inc, Oatly, Kopin Corp, Fiverr International, YETI Holdings, YPF S.A, Ship Lease, Himax Technologies Inc, Dickinson, CommScope Holding, RBC, Agile Therapeutics, Apyx Medical Corporation, Grab Holdings, Hawaiian Electric Industries, Profire Energy, Flags Inc, Stereotaxis Inc, TransDigm, US Foods Holding Corp, Utz Brands, Valvoline Inc, Weibo Corporation, Wix.com Ltd, Trade, Petroleo Brasileiro SA Petrobras, Growth, Aurora Cannabis Inc, Navitas Semiconductor Corp, Archer Aviation Inc, Semiconductor, Energy Fuels Corp, Illumina Inc, Spike Investment Corp, Algonquin Power & Utilities Corp, AngloGold, Central Puerto S.A, Hudson Global, AirSculpt Technologies, Partners, Soho House, Jim Cramer's Charitable, Handout, Getty Locations: U.S, Macao, Asia, China, Las, Singapore, Wynn's Vegas, Boston, United Arab Emirates, Gilead, VVV, Central, Soho

☆ Stocks making the biggest moves premarket: Amazon, Intel, Enphase Energy and more
▼ + stars: | 2023-10-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

Amazon — Amazon's stock surged 7% after the e-commerce giant reported strong third-quarter results and showed a 13% jump in revenue for the period. Intel — The chip stock popped 7% after posting third-quarter results Thursday that topped Wall Street's expectations and offered strong guidance for the current period. Chipotle Mexican Grill — Shares of the restaurant chain rose more than 3% in premarket trading after the company's third-quarter earnings topped expectations. Stanley Black & Decker beat third-quarter earnings expectations , citing "strong momentum" with its cost reduction program. Colgate-Palmolive topped third-quarter earnings expectations on the top and bottom lines and hiked its organic sales growth outlook.

Persons: Pat Gelsinger, Ford, Chipotle, LSEG, LSEG . Stanley Black, Decker, Stanley Black, Sanofi, Newell Brands, Cantor Fitzgerald, —, Jesse Pound, Tanaya Macheel, Pia Singh, Sarah Min Organizations: Intel, Enphase Energy, LSEG, Ford, UAW, Exxon Mobil, Chevron — Chevron, Chevron, Colgate, Palmolive, Sanofi — U.S, Newell, Charter Communications, Disney . Charter Communications, Hasbro, Bank of America, Automotive, Merck —, BMO Capital Markets, Merck

☆ Amazon stock swings after a great quarter underscore our golden rule during earnings season
▼ + stars: | 2023-10-26 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Operating income increased over 340% to $11.12 billion, significantly exceeding forecasts of $7.7 billion, according to FactSet, and above the high-end of management's guidance. As a result, the operating income estimate is a more telling metric on how Amazon fared relative to Wall Street's expectations — and make no mistake, it was strong. In the Companywide part of the table, the cost of sales line-item came in above expectations at $75 billion. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Andy Jassy, Jassy, that's, it's, Jim Cramer's, Jim Cramer, Jim, Omar Marques Organizations: Amazon, Services, Revenue, LSEG, Rivian Automotive, Management, North, CNBC, Lightrocket, Getty

☆ Ford’s electric drive is going the wrong way
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Rebecca Cook Acquire Licensing RightsNEW YORK, Oct 26 (Reuters Breakingviews) - Ford Motor (F.N) may have dealt with its labor problem. While the ebb and flow of fossil-fueled fortunes is nothing new, Ford’s electric-car pivot is printing more red ink than ever. But Ford is trying to scale to profitable sales and right now, things are going the wrong way. The company’s electric division recorded a nearly $37,000 operating loss per battery-powered ride sold this quarter, 51% worse than last year. With once sky-high electric prices now free-falling, Ford faces the brass-tacks problem of simply grinding down costs.

Persons: Jim Farley, Rebecca Cook, can’t, nix, Ford, Jonathan Guilford, Lauren Silva Laughlin, Aditya Sriwatsav Organizations: Ford Motor, North American, REUTERS, Reuters, Ford, General Motors, Cox, X, Unilever, Thomson Locations: Detroit , Michigan, U.S, Detroit

The world's most valuable automaker was set to lose nearly $50 billion in market value, based on premarket share movements. The comments marked a change in tone from Tesla CEO Musk, who had said his company was "recession-resilient" last year. The EV maker missed revenue estimates on Wednesday by the most in more than three years despite hefty price cuts. Reuters GraphicsOverall, 10 analysts cut their price targets on the stock, pushing the median view to $260, according to LSEG data. Tesla shares fell 6.1% at $227.96 in premarket trading.

Persons: Tyrone Siu, Elon, Tesla, Musk, Canaccord, Bernstein, Toni Sacconaghi, Craig Irwin, Aditya Soni, Akash Sriram, Shounak Dasgupta, Anil D'Silva Organizations: Tesla, REUTERS, Ford Motor, General Motors, Reuters Graphics, Ford, Roth Capital, Reuters, Thomson Locations: Taipei, Taiwan, Bengaluru

☆ US manufacturing output rises solidly in September
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +3 min

Manufacturing output rose 0.4% last month, the Federal Reserve said on Tuesday. Durable goods manufacturing output rose at a 2.3% annualized rate, which was offset by a 2.4% pace of decline in nondurable manufacturing. Motor vehicle and parts output rose 0.3% last month after declining 4.1% in August. Mining output rose 0.4% after gaining 0.2% in August. Overall industrial production rose 0.3% in September after being unchanged in August.

Persons: Kamil Krzaczynski, Lucia Mutikani, Paul Simao Organizations: REUTERS, Rights, Federal Reserve, Reuters, United Auto Workers, UAW, General Motors, Ford, Chrysler, Institute for Supply, Utilities, Thomson Locations: Normal , Illinois, U.S, Kentucky

☆ US electric-vehicle sales hit record high, Tesla loses market share - report
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

The company logo is pictured on a Tesla Model X electric vehicle in this picture illustration taken in Moscow, Russia July 23, 2020. REUTERS/Evgenia Novozhenina/File Photo Acquire Licensing RightsOct 12 (Reuters) - Electric vehicle (EV) sales in the United States jumped to more than 300,000 for the first time in the third quarter, but industry leader Tesla's market share slipped to the lowest on record, a report by Cox Automotive showed on Thursday. "Higher inventory levels, more product availability, and downward pricing pressure have helped spur continued linear growth of EV sales in the U.S. market," Cox said. The price war started by Tesla has brought average EV prices down to $50,683 in September, down from $52,212 in the prior month, Cox added. Reuters GraphicsTotal EV sales for the third quarter rose nearly 50% from a year ago, and accounted for a record 7.9% of total industry sales, the report showed.

Persons: Evgenia, Tesla's, Tesla, Cox, Canalys, Zaheer Kachwala, Devika Organizations: Tesla, REUTERS, Cox Automotive, Elon, Reuters, Rivian, Thomson Locations: Moscow, Russia, United States, U.S, Bengaluru

Following the comments from top Fed officials on Monday, Atlanta Fed President Raphael Bostic said the U.S. central bank does not need to raise interest rates any further, and that he sees no recession ahead. "Everybody has one eye on the Middle East conflict and one eye on what's happening with bond yields. The decline in bond yields is the key driver today," said John Praveen, managing director & co-chief investment officer at Paleo Leon. "If tensions escalate bond yields might decline further because they're a safe haven but equities would sell off in that instance because of increased uncertainty and risk aversion," he said. But the flight to safety has made Treasury yields fall enough to push up equities," Tuz said.

Persons: Brendan McDermid, dovish, Raphael Bostic, John Praveen, Praveen, Peter Tuz, Tuz, Neel Kashkari, Christopher Waller, Sinéad Carew, Shashwat Chauhan, Ankika Biswas, Terence Gabriel, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, U.S . Federal Reserve, Atlanta Fed, Treasury, Chase Investment, Nasdaq, Dow Jones, Minneapolis Federal Reserve Bank, Traders, PepsiCo, Truist, Rivian, UBS, EV, Thomson Locations: New York City, U.S, Gaza, Paleo Leon, Charlottesville , Virginia, Israel, Minneapolis

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Top ranking Fed officials indicated rising yields on long-term U.S. Treasury bonds could steer the central bank from further increases in its short-term policy rate. Megacap stocks Microsoft (MSFT.O), Alphabet (GOOGL.O), Nvidia (NVDA.O) and Amazon.com (AMZN.O) added between 0.2% and 0.4% in premarket trading. All three major U.S. stock indexes closed higher on Monday, with energy (.SPNY) leading gains as supply worries ignited by Middle East tensions sparked a rally in crude oil prices. Rivian Automotive (RIVN.O) added 4.1% on a report that UBS upgraded the EV maker's stock to "buy" from "neutral".

Persons: Brendan McDermid, Raffi Boyadjian, Atlanta's Raphael Bostic, Neel Kashkari, Mary Daly, Christopher Waller, Israel, John Riccitiello, J.P.Morgan, Shashwat Chauhan, Ankika Biswas, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, PepsiCo, Dow, Nasdaq, Treasury, Federal, Columbus, Peoples, Microsoft, Nvidia, XM, Traders, JPMorgan Chase, Citigroup, Dow e, Rivian, UBS, EV, Alibaba Group, PDD Holdings, Baidu, Thomson Locations: New York City, U.S, Gaza, Minneapolis, Wells Fargo, Beijing, Bengaluru

☆ Stocks making the biggest moves premarket: Palantir, PepsiCo, Rivian and more
▼ + stars: | 2023-10-10 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Palantir Technologies — Shares of the data analytics company added 2.3% on news that the U.S. Army awarded the company a $250 million contract to test and develop artificial intelligence and machine learning. Unity Software — The game engine stock surged nearly 6% after the company said CEO John Riccitiello would retire. Rivian Automotive — Shares of the electric truck company rose 3% in premarket trading after UBS upgraded Rivian to buy from neutral. PepsiCo — Shares of the beverage giant added roughly 1% after a third-quarter earnings beat. Akero Therapeutics — The biotech company plummeted more than 63% after reporting initial trial data related to a Phase 2B study of cirrhosis drug efruxifermin.

Persons: John Riccitiello, James M, Whitehurst, Rivian, Davidson, Goldman Sachs, —, Jesse Pound, Sarah Min Organizations: U.S . Army, Software, UBS, PepsiCo —, LSEG, Ameris, Bancorp, Arm Holdings, JPMorgan, Deutsche Bank, Akero Therapeutics

☆ Here are 20 stocks I'm watching Tuesday, including Lilly, AMD and Goldman Sachs
▼ + stars: | 2023-10-10 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Here are some of the tickers on my radar for Tuesday, Oct. 10, taken directly from my reporter's notebook:If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. Harley-DavidsonRivian AutomotiveRealty IncomeMizuho lowers WalgreensJMP and Barclays lower RobinhoodBlockUnity Software CEO John Riccitiello out. James Whitehurst, former Red Hat chief in at UnityCiti takes Corning

Persons: Jim Cramer's, Davidson, John Riccitiello, James Whitehurst, Corning Organizations: Realty, Walgreens, Barclays, Unity Software, Red Hat, Unity Citi

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Top ranking Fed officials indicated rising yields on long-term U.S. Treasury bonds could steer the central bank from further increases in its short-term policy rate. Focus will be on remarks from a slew of Fed officials including Minneapolis' Neel Kashkari, San Francisco's Mary Daly and Board Governor Christopher Waller during the day. Advancing issues outnumbered decliners for a 2.57-to-1 ratio on the NYSE and a 1.93-to-1 ratio on the Nasdaq. The S&P index recorded four new 52-week highs and one new low, while the Nasdaq recorded 27 new highs and 86 new lows.

Persons: Brendan McDermid, Neel Kashkari, Mary Daly, Christopher Waller, Peter Cardillo, J.P.Morgan, decliners, Shashwat Chauhan, Ankika Biswas, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, PepsiCo, Dow, Nasdaq, Treasury, Federal, Columbus, Peoples, Traders, Dow Jones, Spartan Capital Securities, Truist, Rivian, UBS, EV, Skyworks Solutions, Citigroup, NYSE, Thomson Locations: New York City, U.S, Gaza, Minneapolis, Washington, Bengaluru

TOKYO (AP) — Asian shares mostly rose in cautious trading Friday after Wall Street drifted to a quiet close on worries about a too-hot U.S. job market. A comprehensive report on the overall U.S. job market is due Friday, and economists expect it to show hiring slowed to a pace of 163,000 jobs added in September from 187,000 in August. Political Cartoons View All 1202 ImagesInvestors worry that too strong a U.S. job market could add to upward pressure on inflation. That’s why the Fed has raised its main interest rate to the highest level since 2001, to intentionally slow the job market. Stocks have struggled since the summer under the weight of soaring Treasury yields in the bond market, which undercut stock prices and crimp corporate profits.

Persons: Australia's, Seng, ”, Anderson Alves, acquiesce, Rubeela Farooqi, Lamb Weston, Brent Organizations: TOKYO, Nikkei, China, Dow Jones, Nasdaq, Stocks, Federal Reserve, Automotive, Treasury, U.S Locations: Hong, China, Hong Kong, U.S, ActivTrades, Clorox

Although longer-dated U.S. Treasury yields eased from 16-year highs on Wednesday, investors remain concerned that the elevated levels may pressure equities. Worries about U.S. government spending and its ballooning budget deficit have added to uncertainty around the interest rates trajectory, contributing to a steep selloff that have caused a rout in Treasury prices and a spike in yields. The S&P 500 and the tech-heavy Nasdaq lost around 5% and 6% last month as yields spiked. Traders put the chance of interest rates remaining unchanged in November and December at 80% and 63%, respectively, according to CME's FedWatch tool. ET, Dow e-minis were down 92 points, or 0.28%, S&P 500 e-minis were down 10.5 points, or 0.24%, and Nasdaq 100 e-minis were down 27.75 points, or 0.19%.

Persons: Brendan McDermid, Janet Mui, Loretta Mester, Neel Kashkari, Richmond's Thomas Barkin, Mary Daly, Michael Barr, Kevin McCarthy, Steve Scalise, Jim Jordan, Joe Biden, VinFast, Ankika Biswas, Shashwat Chauhan, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Treasury, RBC Brewin, Apple, Traders, Dow e, Federal, Democratic, Rivian, EV, Chevron, Exxon Mobil, Occidental Petroleum, Thomson Locations: New York City, U.S, Minneapolis, Bengaluru

☆ Stocks making the biggest moves midday: Rivian, Orchard Therapeutics, Lamb Weston and more
▼ + stars: | 2023-10-05 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Rivian said it anticipates revenue to range between $1.29 billion and $1.33 billion, versus the $1.3 billion forecast by analysts polled by LSEG, formerly known as Refinitiv. Clorox — Shares dropped 7.7% on Thursday, one day after the product maker offered worse fiscal first-quarter guidance than analysts polled by FactSet expected. Oculis — Shares rose 3.4% after Stifel initiated coverage of the biopharma company with a buy rating and $35 target price. Johnson & Johnson — Shares of the health-care giant added 0.8% in midday trading after RBC initiated company coverage with an outperform rating. Instacart — Instacart fell 2.9% after Bernstein initiated coverage of the company at a market perform rating, noting that increased competition challenged the delivery company's strong digital advertising business.

Persons: Rivian, Clorox, FactSet, Kyowa Kirin, Vestis, Oculis, Wedbush, Shagun Singh, Lamb Weston — Lamb Weston, Tom Werner, Instacart — Instacart, Bernstein, — CNBC's Brian Evans, Alex Harring, Tanaya Macheel, Sarah Min, Jesse Pound, Pia Singh, Samantha Subin, Michelle Fox Theobald Organizations: Rivian, Rivian Automotive, LSEG, Exxon Mobil —, UWM Holdings, BTIG, Orchard Therapeutics, Kyowa, Redburn, JPMorgan, Carrier, Bank of America, Johnson, RBC, Constellation Locations: Aramark, Europe

FILE PHOTO:Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Even as longer-dated Treasury yields eased from 16-year highs on Wednesday, investors remain concerned that the elevated levels may continue to pressure equities. The Labor Department's report showed the number of Americans filing new claims for unemployment benefits rose moderately last week, while layoffs declined in September, pointing to still-resilient labor market conditions. Following a mixed jobs reports earlier this week, focus will be on the more comprehensive September non-farm payrolls data on Friday. Declining issues outnumbered advancers for a 1.50-to-1 ratio on the NYSE and a 1.22-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Charles, Henry Monchau, Neel Kashkari, Richmond's Thomas Barkin, Mary Daly, Michael Barr, Kevin McCarthy, Steve Scalise, Jim Jordan, Joe Biden, VinFast, Lamb, advancers, Ankika Biswas, Shashwat Chauhan, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, U.S, Treasury, Syz Group, Healthcare, Labor, Dow Jones, Traders, Federal, Democratic, Rivian, EV, Dell Technologies, Lamb Weston Holdings, NYSE, Thomson Locations: New York City, U.S, Minneapolis, Bengaluru

☆ Lucid launches cheaper Air Pure electric sedan to boost demand
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

A Lucid Air electric vehicle is displayed at a shopping mall in Scottsdale, Arizona, U.S., September 27, 2021. REUTERS/Hyunjoo Jin/File Photo Acquire Licensing RightsOct 5 (Reuters) - Luxury electric-vehicle maker Lucid Group (LCID.O) on Thursday launched a cheaper, rear-wheel drive version of the Air Pure sedan starting at $77,400, as it looks to stoke demand. The new Lucid model, however, is more expensive than the world's most valuable automaker Tesla's (TSLA.O) Model S luxury sedan, which starts at about $75,000. The cheaper electric sedan will offer a range of 410 miles on a full charge and will be available immediately, Lucid said. The EV maker opened its first overseas production factory last month in Saudi Arabia and the Saudi government has agreed to buy up to 100,000 Lucid vehicles over the next decade.

Persons: Hyunjoo Jin, Tesla, Lucid, Akash Sriram, Arun Koyyur Organizations: REUTERS, Air, stoke, Sapphire, Saudi Arabia's Public Investment Fund, Saudi, Thomson Locations: Scottsdale , Arizona, U.S, Saudi Arabia, Newark , California, Bengaluru

☆ Rivian shares sink 20% after the EV maker said it plans to raise $1.5 billion
▼ + stars: | 2023-10-05 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +1 min

Shares of Rivian Automotive were sharply lower in early trading Thursday, after the company surprised investors with a plan to offer $1.5 billion in convertible notes. It also provided a preliminary estimate of its third-quarter revenue that was in line with Wall Street estimates. Rivian plans to offer $1.5 billion worth of senior, unsecured "green" convertible notes due in 2030. Buyers will have the option to purchase up to an additional $225 million worth of notes, the company said. Rivian on Monday reported third-quarter deliveries that were better than Wall Street had expected.

Persons: Taylor, Rivian Organizations: of Manhattan, Rivian Automotive, Wall Locations: Meatpacking, New York City, U.S

It is the second time in less than a year that Rivian is issuing such a green bond, which raises capital from investors seeking to back climate-focused projects. The company had issued a $1.3 billion convertible green bond in March to support the launch of its smaller R2 vehicle family. The company beat estimates in the third quarter by producing 16,304 vehicles and delivering 15,564 vehicles to customers. As of Sept. 30, Rivian had about $9.1 billion in cash on its balance sheet, down from $10.2 billion in June. The current median price target for the 24 analysts covering Rivian's shares is $30, with a "buy" recommendation, LSEG data showed.

Persons: Rivian, Elliot Johnson, it's, Johnson, Robert Scaringe, Garrett Nelson, Nelson, Chibuike Oguh, Abhirup Roy, Lance Tupper, Alexandra Hudson, Diane Craft, David Gregorio Our Organizations: Rivian Automotive Inc, Reuters, Evolve, Tesla Inc, EV, Thomson Locations: Irvine , California, Georgia, Atlanta, New York, San Francisco

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