NewsRoom Articles - Page 17 of 30

MondayJun 03, 2024 9:00 am

Lucid Motors to Lay Off 400 Employees

Lucid Motors NASDAQ: LCID), an American manufacturer of luxury electric vehicles, plans to lay off 400 employees, which is about 6% of its headcount. Last year, the company laid off 1,300 employees. This is part of Lucid Motors' strategic move to deal with slower growth and streamline operations for future success. When the company announced plans to lay off employees, it sent ripples through the industry. This news came at a pivotal moment for the company, which plans to launch its first electric Gravity SUV before the end of the year. Lucid Motors said that the restructuring will be completed…

FridayMay 31, 2024 9:00 am

Did QuantumScape Corp. Just Deliver a Sucker Punch to Tesla?

In a recent stunning development, QuantumScape Corp. (NYSE: QS) made headlines with groundbreaking advancements in battery technology. This move has raised many questions, including, Could this disrupt Tesla's dominance in the electric vehicle (EV) market? Since going public in 2020, QuantumScape, a pioneer in solid-state battery technology, has sparked much interest. The company unveiled solid-state cells, considered the next big thing in battery-making technology. Unlike traditional lithium-ion batteries, these new models boast higher-energy density, quicker charging times, improved thermal safety and longer lifespan. These features have been proven to address some of the EV industry's most significant and pressing issues.…

WednesdayMay 29, 2024 9:00 am

An Analysis of Riot Platforms’ Current Market Pricing

Riot Platforms Inc. (NASDAQ: RIOT) is a Bitcoin mining company that is vertically integrated. Its primary revenue earner is its mining activities, though the business also engages in data center engineering and hosting. At the moment, the company’s shares are priced at $10.9 each, and many investors may be wondering whether this pricing is appropriate and whether they can get value if they add this stock to their portfolios. We explore this subject so that intending investors can make an informed decision. With its market cap currently standing at $3.2 billion, Riot Platforms has a $10.3 GF value. Many factors…

FridayMay 24, 2024 9:00 am

What to Expect When D-Wave Quantum Announces Q2 Earnings in August

D-Wave Quantum Inc. (NYSE: QBTS) is scheduled to release its Q2 2023 earnings results on August 10, 2024. According to the company’s projections, the expected revenue is likely to be in the $1.65–$1.8 millio range. The Canadian-based company focuses on providing quantum computing solutions, systems and software. It supplies these offerings to commercial clients. The Consensus Estimate by Zacks puts the company’s Q2 revenue at an expected $1.8 million. This figure suggests that the company will have grown its revenue by a decent 31.39% when compared to the revenue of the same quarter a year ago. Regarding the consensus estimate…

WednesdayMay 22, 2024 9:00 am

More Details Emerge About Shock Firing of all Tesla Supercharger Employees

As the shocking news that Elon Musk, the CEO of Tesla Inc. (NASDAQ: TSLA), fired the entire 500-member Supercharger team is sinking in, more details have started emerging about the events leading up to the mass firings and the likely impact this may have on the industry. According to former Supercharger staff that Reuters interacted with, Musk reportedly had a meeting with Rebecca Tinucci, head of the charging staff. This meeting occurred just a day before Musk fired the entire team. This particular meeting seemed to be intended to brief Musk about the 15%–20% layoffs that the team had implemented…

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…

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