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☆ Cramer's lightning round: I like Entegris
▼ + stars: | 2023-01-12 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...ZIM Integrated Shipping Services Ltd : "I don't trust it. Loading chart...CF Industries Holdings Inc : "I like Mosaic more, but I like CF a lot." It's very plain vanilla, nothing really exciting about it, but that's okay." Loading chart...Clearfield Inc : "Lately, since this year began, when you see a stock go down, you've got to be very careful. Loading chart...Steel Dynamics Inc : "I like Steel Dynamics, but I love Nucor ."

☆ Several Top Rivian Executives Depart the Electric-Vehicle Startup
▼ + stars: | 2023-01-10 | by ( Sean Mclain | Nora Eckert | ) www.wsj.com time to read: 1 min

Several top executives at Rivian Automotive Inc., including the vice president overseeing body engineering and its head of supply chain, have departed the electric-vehicle maker in recent months. The exits, confirmed by a Rivian spokeswoman, are the latest in what has been a challenging period for Rivian, which has been rolling out its first all-electric models but last year missed a critical production target of completing 25,000 vehicles. The company said it fell short of the goal by about 700 vehicles in part because of troubles getting parts.

☆ EV Startup Rivian Missed 2022 Production Target
▼ + stars: | 2023-01-04 | by ( Sean Mclain | ) www.wsj.com time to read: 1 min

Rivian Automotive Inc. fell short of its 25,000-vehicle production target for 2022, capping a challenging year for the electric-truck startup. Rivian said in a regulatory filing that it produced 10,020 completed vehicles in the final three months of 2022, bringing its total for the year to 24,337. The company delivered 20,332 of those vehicles to customers.

Tuesday's slide knocked off nearly $50 billion in market value, roughly equal to the valuation of rival Ford Motor Co (F.N), which last year sold three times as many cars as Tesla. The sell-off came after Tesla missed market expectations for fourth-quarter deliveries despite shipping a record number of vehicles. Tesla's market value has declined by about $370 billion since Chief Executive Elon Musk closed the deal to buy social media firm Twitter. Tesla shares biggest loser among Big Tech Tesla shares biggest loser among Big Tech since AprilTesla delivered 405,278 vehicles in the fourth quarter, short of analysts' estimates of 431,117. The gap between production and deliveries has widened to 34,000 vehicles as more cars got stuck in transit.

☆ Cramer's lighting round: Capital One is a tough stock to own going into a slowdown
▼ + stars: | 2023-01-03 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...Capital One Financial Corp : "It will get through this, but it's always been a tough stock to own going into a slowdown." Loading chart...Rivian Automotive Inc : "I saw one yesterday. Loading chart...Hertz Global Holdings Inc : "I want to buy that stock for my Charitable Trust. With [CEO Stephen] Scherr in your corner, you can't miss." Loading chart...Standard Lithium Ltd : "We're going to take a real hard pass on that one."

That works out to a 31.2% return on total average short interest of $973.6 billion throughout the year, according to S3 Partners. Stanphyl Capital portfolio manager Mark Spiegel, who has been short Tesla "constantly, in varying size" since 2014, said a bet against Tesla was his fund's most profitable individual short position this year. While higher interest rates have punished growth stocks, some investors believe Tesla CEO Elon Musk's purchase of Twitter is diverting his time running the electric car company. Long-short hedge funds, which bet on stock prices rising or falling, posted a 9.7% loss through November, according to data provider HFR. Charles Lemonides, portfolio manager at $226 billion hedge fund ValueWorks LLC, believes tight monetary policy will weigh on risk appetite next year.

☆ Ford hikes price of cheapest F-150 electric truck variant to nearly $56,000
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +1 min

Dec 15 (Reuters) - Ford Motor Co (F.N) has raised the price of the cheapest variant of its F-150 Lightning electric truck by 9% to $55,974, the company's website showed on Thursday. The automaker has raised prices for its electric pickup trucks twice in a span of three months, as it navigates higher costs and supply chain snags. It was, however, not immediately clear when the price hike occurred. The move comes on the heels of the automaker adding a third work crew at an assembly plant near Detroit as it boosts production of its F-150 trucks. Reporting by Nathan Gomes in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Electric vehicles confront the leap to the mass market
▼ + stars: | 2022-12-15 | by ( Joseph White | ) www.reuters.com time to read: +4 min

Industry executives and forecasters do not agree on how rapidly electric vehicles could take over half the global vehicle market, let alone all of it. In China, the world's largest single automotive market, battery electric vehicles have captured about 21% of the market. By 2029, electric vehicles could account for a third of the North American market, and about 26% of vehicles produced worldwide, according to AutoForecast Solutions, a consultancy. Electric vehicle sales likely will not increase in a smooth, ever-ascending curve, said AFS President Joe McCabe. The next few years will determine whether the 21st Century's crop of electric vehicle brands will follow a similar path.

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 7, 2022. Microsoft Corp (MSFT.O) rose 2% following the tech giant's deal to buy a 4% stake in the London Stock Exchange Group (LSEG.L), powering much of Wall Street's gains. The benchmark S&P 500 (.SPX) looked to rebound from its worst weekly performance since late September, sparked by dour comments from top U.S. executives and mixed economic data. Fears of an economic downturn have hammered Wall Street's main indexes this year, with the Nasdaq (.IXIC) and the S&P 500 down 29.4% and 17%, respectively. Eight out of the 11 major S&P sector indexes were in the green, led by energy (.SPNY), utilities (.SPLRCU) and technology stocks (.SPLRCT).

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 7, 2022. Wall Street's main indexes have slumped this year on fears of aggressive rate hikes triggering a U.S. recession. The Nasdaq and the S&P 500 (.SPX) have fallen 29.5% and 17.2%, respectively, so far in 2022 and are on track for their worst yearly performance since 2008. Seven out of the 11 major S&P 500 sector indexes were in the green, led by energy (.SPNY) and technology stocks (.SPLRCT). The S&P index recorded no new 52-week highs and two new lows, while the Nasdaq recorded 29 new highs and 136 new lows.

Wall Street's main indexes have slumped this year on fears of aggressive rate hikes triggering a U.S. recession. ET, Dow e-minis were up 81 points, or 0.24%, S&P 500 e-minis were up 12.75 points, or 0.32%, and Nasdaq 100 e-minis were up 34.25 points, or 0.3%. Qualcomm Inc (QCOM.O) lost 2.7% after Wells Fargo downgraded its rating on the smartphone chipmaker's stock to "underweight" from "equal weight". Rivian Automotive Inc (RIVN.O) lost 1.2% after the company paused its partnership discussions with Mercedes-Benz Vans on electric van production in Europe. Reporting by Shubham Batra, Ankika Biswas and Johann M Cherian in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Rivian Pauses Talks With Mercedes on Joint Van Factory in Europe
▼ + stars: | 2022-12-12 | by ( Sean Mclain | ) www.wsj.com time to read: 1 min

Electric-vehicle startup Rivian Automotive Inc. said it has paused negotiations with Mercedes-Benz Group over a planned tie-up to produce electric vans in Europe, as part of a wider effort at the SUV and truck maker to conserve cash. In September, both companies said they were starting negotiations on a potential joint venture at a Mercedes plant in Poland, which would have produced commercial vans for both auto makers. At the same time, Rivian executives have been cautious about overextending operations in the wake of tightening capital markets and concerns over the economy.

☆ Futures rise ahead of CPI data, Fed rate decision in focus
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures up: Dow 0.22%, S&P 0.29%, Nasdaq 0.34%Dec 12 (Reuters) - U.S. stock index futures edged higher on Monday ahead of monthly consumer inflation data, while investors braced for the Federal Reserve meeting later this week. The Nasdaq (.IXIC) shed 4%, and S&P 500 (.SPX) and Dow Jones Industrial Average (.DJI) lost 3.4% and 2.8%, respectively. ET, Dow e-minis were up 73 points, or 0.22%, S&P 500 e-minis were up 11.25 points, or 0.29%, and Nasdaq 100 e-minis were up 39.25 points, or 0.34%. Rivian Automotive Inc (RIVN.O) tumbled 4.3% after the company paused its partnership discussions with Mercedes-Benz Vans on electric van production in Europe. Reporting by Shubham Batra and Ankika Biswas in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Rivian pauses JV plans with Mercedes-Benz to make electric vans in Europe
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +2 min

[1/2] A Rivian Automotive sign outside the electric truck maker's facility, in Plymouth, Michigan, U.S., July 15, 2022. REUTERS/Kevin Krolicki/File PhotoDec 12 (Reuters) - Rivian Automotive Inc (RIVN.O) said on Monday it is pausing its joint venture with Mercedes-Benz Vans, just three months after the companies entered a partnership to make electric vans in Europe. Rivian is in a crowded field of startups trying to cash in on demand for electric commercial vans under pressure from established automakers including Ford (F.N) and General Motors (GM.N). In September, Mercedes-Benz Vans and Rivian signed a memorandum of understanding to produce electric vans in a factory in Poland, Hungary or Romania within the next few years, under the 50-50 joint venture. The plan for Mercedes-Benz Vans' new electric vehicle manufacturing site in Jawor, Poland is not affected and the pace of its electrification strategy remains unchanged, Mathias Geisen, head of Mercedes-Benz Vans, said.

☆ GM's BrightDrop signs first customer in Canada, unveils country's first large EV factory
▼ + stars: | 2022-12-05 | by ( Lisa Baertlein | ) www.reuters.com time to read: +2 min

REUTERS/Carlos OsorioDec 5 (Reuters) - The first electric delivery trucks rolled off production lines at BrightDrop's new factory in Canada on Monday, when the upstart unit of General Motors Co (GM.N) also announced DHL Express Canada (DPWGn.DE) as its first customer outside the United States. GM spent seven months and more than $2 billion transforming its 2 million-square-foot CAMI Assembly plant in Ingersoll, Ontario, into Canada's first large-scale electric vehicle (EV) factory for BrightDrop Zevo delivery trucks. It already has delivered 150 electric trucks to package carrier FedEx Corp (FDX.N). Those companies and many others have set goals to replace gas-burning delivery trucks and service vehicles with zero-emissions alternatives over time. DHL Express Canada's new relationship with BrightDrop "will help bring us closer to that target," CEO Andrew Williams said.

☆ Electric vehicle makers burning cash, slammed by sky-high costs
▼ + stars: | 2022-11-14 | by ( Akash Sriram | ) www.reuters.com time to read: +5 min

[1/2] A Canoo Lifestyle Vehicle is displayed during the 2021 LA Auto Show in Los Angeles, California, U.S. November, 17, 2021. Quarterly reports from electric vehicle (EV) makers from the past two weeks show them struggling to hit delivery targets and rapidly burning through cash. At the end of September, it had $6.8 million in cash and equivalents, down sharply from $415 million a year earlier. Still, higher output would ultimately reduce the cost per car and limiting production can threaten the path to profitability, analysts said. Rivian, backed by Amazon.com (AMZN.O) and Ford Motor (F.N), had $13.8 billion cash on hand at the end of September.

☆ Wall Street ends sharply higher on sign of cooling inflation
▼ + stars: | 2022-11-10 | by ( Noel Randewich | ) www.reuters.com time to read: +4 min

One-time Wall Street darlings tarnished in 2022's bear market were among Thursday's strongest performers, with Nvidia (NVDA.O) jumping about 14%, Meta Platforms (META.O) climbing 10% and Alphabet (GOOGL.O) rising 7.6%. Growing recession worries have hammered Wall Street this year. The S&P 500 (.SPX) remains down about 17% year to date, and it is on course for its biggest annual decline since 2008. S&P 500's busiest tradesThe S&P 500 climbed 5.54% to end the session at 3,956.31 points. All 11 S&P 500 sector indexes rallied, led by information technology (.SPLRCT), up 8.33%, followed by a 7.74% gain in real estate (.SPLRCR).

"It takes off the table the risk that the Fed will have to overtighten and break the economy." The inflation data prompted traders to adjust their rate hike bets, with odds of a 50-basis point rate hike in December jumping to more than 80% from 52% before the data was released. The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, fell to a near two-month low of 23.4 points. Wall Street's main indexes have suffered sharp losses this year as investors feared the U.S. central bank's aggressive rate hikes to tame decades-high inflation will tip the economy into recession. The S&P index recorded 13 new 52-week highs and no new low, while the Nasdaq recorded 70 new highs and 93 new lows.

Every line of the report shows sequential improvement," said Art Hogan, chief market strategist at B. Riley Financial. The report prompted traders to adjust their rate hike bets, with bets of a 50-basis point rate hike in December jumping to more than 70% from 45% before the data was released. Following last week's Fed policy meeting, some U.S. central bank officials have made comments that pointed to slower rate rises over coming meetings. The Fed's policy rate is currently in a range of 3.75%-4.00%. The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, fell to a near two-month low of 23.94.points.

☆ Futures rise as focus shifts to inflation data
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures up: Dow 0.09%, S&P 0.17%, Nasdaq 0.31%Nov 10 (Reuters) - U.S. stock index futures inched higher on Thursday as investor focus turned to October inflation data for clues on the path of future interest rate hikes. Traders are split on whether a 50 basis points or 75 basis points rate hike by the Fed is likely in December. ET, Dow e-minis were up 29 points, or 0.09%, S&P 500 e-minis were up 6.5 points, or 0.17%, and Nasdaq 100 e-minis were up 33.25 points, or 0.31%. The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, rose to 26.56 points, and was close to a weekly high. Reporting by Shubham Batra and Bansari Mayur Kamdar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Rivian’s Losses Mount as It Continues to Burn Through Cash
▼ + stars: | 2022-11-09 | by ( Sean Mclain | ) www.wsj.com time to read: 1 min

LOS ANGELES—Electric-vehicle startup Rivian Automotive Inc. said Wednesday it lost $1.74 billion in the third quarter—about the same as it did for the April-to-June period—as it continued to struggle with higher material costs and underused assembly lines. The Irvine, Calif. based company said third-quarter revenue was about $536 million, reflecting a ramp-up of production at its factory in Normal, Ill. and higher deliveries to customers.

[1/2] Employees work on an assembly line at startup Rivian Automotive's electric vehicle factory in Normal, Illinois, U.S. April 11, 2022. REUTERS/Kamil Krzaczynski/File PhotoNov 9 (Reuters) - Rivian Automotive Inc (RIVN.O) missed Wall Street estimates for third-quarter revenue, but shares rose after hours as the electric-vehicle maker reported a smaller-than-expected loss, reaffirmed its full-year production outlook and reported a higher number of preorders. The automaker ended the third quarter with $13.8 billion in cash, down from $15.9 billion at the end of the second quarter. EV maker Lucid (LCID.O) on Tuesday reported a $670 million loss for the third quarter and said its order bank had dropped since the second quarter. The company's quarterly net loss widened to $1.72 billion compared with a $1.23 billion loss a year earlier.

☆ Rivian shares skid after EV maker recalls nearly all vehicles
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +2 min

Oct 10 (Reuters) - Shares of Rivian Automotive Inc (RIVN.O) fell about 9% on Monday after the electric-vehicle maker recalled nearly all its vehicles, exacerbating investor concerns that the company may not be able to meet its 2023 production target. The Amazon.com Inc-backed (AMZN.O) firm on Friday recalled about 13,000 vehicles due to a possible loose fastener that could cause the driver to lose steering control. Rivian started selling its EVs in the third quarter of last year, and has so far delivered 13,198 vehicles. read moreWall Street expects Rivian to make 23,590 vehicles this year, according to Visible Alpha. The local development authority had said in May the company would gain incentives of $1.5 billion from the state.

☆ Amazon.com to invest over 1 billion euros in European electric van, truck fleet
▼ + stars: | 2022-10-09 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

LONDON, Oct 10 (Reuters) - Amazon.com Inc (AMZN.O) said on Monday it will invest more than 1 billion euros ($974.8 million) over the next five years in electric vans, trucks and low-emission package hubs across Europe, accelerating its drive to achieve net-zero carbon. The retailer said the investment was also aimed at spurring innovation across the transportation industry and encouraging more public charging infrastructure for electric vehicles (EVs). The U.S. online retailer said the investment would help its electric van fleet in Europe more than triple from 3,000 vehicles to more than 10,000 by 2025. Amazon said it also hopes to purchase more than 1,500 electric heavy goods vehicles - used for "middle-mile" shipments to package hubs - in the coming years. The retailer said it will also invest in doubling its European network of "micro-mobility" hubs from more than 20 cities today.

☆ Ford shares fall 10% on warning of higher inflation-related supply costs
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterThe Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany. "The inflationary costs are concerning as they could persist into Q4 and 2023," Wells Fargo analyst Colin Langan said. It was unclear if chip and parts supply will normalize by the end of the year, Deutsche Bank's Rosner said. Ford's shares were trading at $13.52, with the stock on track for the worst day since February if losses hold. Register now for FREE unlimited access to Reuters.com RegisterReporting by Kannaki Deka in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

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