Lacey@GCS, Author at BillionDollarClub

MondayMay 20, 2024 9:00 am

Rivian Automotive Tells California Authorities More Job Cuts Are Imminent

Rivian Automotive Inc. (NASDAQ: RIVN) has written to state officials in California letting them know that it is going to let go more employees in the state. This revelation was contained in a letter set on April 24, 2024, to the state’s department of employment development. Scott Griffin, Rivian’s VP of people, indicated that the company is slated to layoff in excess of 120 employees, with 89 affected individuals from its Irvine operations while 28 job losses will occur at its Palo Alto operations. The letter states that the job cuts will happen starting in June, and they will be…

FridayMay 17, 2024 9:00 am

Alibaba Profit Nosedives 86% Despite Revenue Beating Estimates

Alibaba Group Holding Ltd (NYSE: BABA) reported a plunge of 86% in its profits for its fourth quarter 2023. This plunge was largely attributed to changes in the valuations of the equities in which it invested. Because of this dip in profit, the shares of the company slumped by nearly 6% on the New York Stock Exchange (NYSE), where the company is primarily listed. It should be noted that the Q4 revenue exceeded estimates, though this didn’t stop share prices from slipping. The company also revealed that it was going to act on its 2022 plan to upgrade its listing…

WednesdayMay 15, 2024 12:00 pm

D-Wave Quantum Inc. (NYSE: QBTS) Announces Financial Results for Q1 2024 and Participation in Needham Technology, Media, and Consumer Conference

D-Wave recently released the company’s financial results for its first fiscal quarter ending March 31, 2024, along with updates and recent achievements, including advancing quantum computing technology with the introduction of D-Wave’s fast-anneal feature and yielding of 4800+ qubit processors for its upcoming Advantage2(TM) system Fast-anneal is designed to accelerate quantum computations, minimizing the effects of external disturbances such as thermal fluctuations and noise, which are common barriers in quantum computing environments D-Wave CEO Dr. Alan Baratz is scheduled for a fireside chat on May 16, 2024, during the Needham Technology, Media, and Consumer Conference to discuss these latest advancements,…

WednesdayMay 15, 2024 9:00 am

Singular Research Report Confirms “Buy” Rating for Coinbase Global

A recent Zacks.com report has revealed that Singular Research reiterated Coinbase Global’s stock buy rating in a research report issued to investors and clients last week. Coinbase Global Inc. (NASDAQ: COIN) is engaged in the provision of financial infrastructure and tech for the crypto economy. Piper Sandler increased its Coinbase share target price to $245 from $225 and rated the company’s stock a “neutral” in a research note dated April 12, 2024. Coinbase has received attention from a few other research reports over the past few months that generally gave it neutral to positive ratings. Wedbush boosted its target price…

MondayMay 13, 2024 9:00 am

Nikola Corp. Shares Jump as Company Secures Supplies to Meet Annual Target

Electric-vehicle manufacturer Nikola Corporation (NASDAQ: NKLA) announced late last week that it had secured sufficient supplies of needed components to make good on its target to deliver 300–500 Tre battery fully electric trucks in 2024. This news caused the company’s shares to surge by at least 7%. The company, which started production of its EVs toward the end of March, revealed that it had shipped 11 trucks last month, notching its first shipments to clients. The truck manufacturer says its suppliers had made commitments to deliver all the components it needs during the manufacturing process this year despite the geopolitical…

FridayMay 10, 2024 1:30 pm

D-Wave Quantum Inc. (NYSE: QBTS) to Announce Financial Results for First Quarter of Fiscal Year 2024

D-Wave will release its financial results for the first quarter of fiscal year 2024 ending March 31, 2024, on Monday, May 13, 2024, before the market opens D-Wave will host a conference call the same day at 8 a.m. EDT to discuss the financial results The company continues to demonstrate progress with its quantum computing product innovations, including the recent fast-anneal feature D-Wave Quantum (NYSE: QBTS), a leader in quantum computing systems, software, and services, recently announced that the company will release its financial results for the first quarter of fiscal year 2024 ending March 31, 2024, on Monday, May…

FridayMay 10, 2024 9:00 am

Riot Platforms Sees Q1 Earnings Rise Despite Drop in BTC Mined

In its Q1 2024 earnings report, Riot Platforms Inc. (NASDAQ: RIOT), a mining company specializing in mining Bitcoin, revealed that its first quarter revenue was in excess of $79.3 million. This revenue increase is modest when compared to the earnings for the same quarter last year, which saw the company bag $73.2 million. It should be noted that the growth in earnings came against the backdrop of reduced BTC mined. In Q1 2023, the company mined 2,115 BTC while the number dropped to 1,364 BTC in the just-ended quarter. Logically, one would expect revenue to drop if the itcoins mined…

WednesdayMay 08, 2024 9:00 am

Nio Inc. April Deliveries Double, Push Shares Up 20%

Nio Inc. (NYSE: NIO), a pioneer in the premium small-electric-car market, recently saw its shares jump by 20%. A significant increase in vehicle deliveries in April was the catalyst, with shares listed on the Hong Kong market reaching 44.20 Hong Kong dollars. This represents a 23% rise and is its highest level in more than six weeks. The increase also bolstered the Hang Seng index, which rose 2% by midday trading. In its statement, Nio revealed that it delivered 15,620 cars last month. This represents a more than 134% year-on-year increase. Nio added that the deliveries comprised of 6,803 and…

MondayMay 06, 2024 9:00 am

Quantum Computing Could Make Genomic Analysis Hyper-Fast

Leading experts in the fields of genomics and quantum computing have teamed up to create new methods and algorithms for processing biological data using next-generation computing. For many genome experts, mapping out the human genome is a dream that has been out of reach since the genome was first identified. Analyzing and fully mapping the genome and accounting for diversity could superboost the understanding of DNA and lead to the development of personalized medicines. Humanity's limited technological capabilities in the face of something as complex as mapping out the entire human genome has kept us from achieving this lofty dream…

FridayMay 03, 2024 9:00 am

Lucid Air Earns Third Consecutive Award as Best Luxury EV

The Lucid Air has won the U.S. News & World Report’s Best Luxury Electric Car award for the third consecutive time. Launched in 2021, Lucid Motors (NASDAQ: LCID)’s Lucid Air is a four-door luxury sedan designed to compete with premium cars such as the Porsche Taycan and Tesla Model S as well as electric offerings from BMW, Mercedes-Benz and BMW. The Lucid Air was a hit with critics as soon as it hit the market and soon attracted the title of best luxury electric car against competitors such as Tesla and Porsche. With the luxury electric car snagging the title…

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Author: Lacey@GCS