Rivian, Poshmark, Tesla Rise Premarket; Kalvista Pharmceuticals Falls
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- Wall Street ends lower on semiconductor selloff as AI spending concerns mount
- Chip stocks plunge, but bargain-hunters limit scale of tech rout
- FedEx falls 4% as FY2027 profit forecast misses expectations despite Q4 beat
- Oil prices finish 1% lower as investors focus on Hormuz flows after peace talks
- South Korea leveraged ETF crisis sparks global chip selloff
- Exclusive-China robot-hand-building unicorn Linkerbot targets $6 billion valuation
- Spain's ex-transport minister sentenced to 24 years for corruption
- China, US, UAE police arrest 276 telecom fraud suspects in Dubai
- Needham Starts NeoVolta (NEOV) at Buy
- Li Auto Inc. (LI) Breaks Ground on Chips R&D and Production Base
Bernstein's Impression of Tesla's (TSLA) Optimus Robot: 'Why Humanoid?'
October 6, 2022 7:25 AM EDTTesla Inc (NASDAQ: TSLA) featured their newest Optimus prototype at the companys AI day on September 30th. Two models were shown of the humanoid robot, a walking prototype Bumble-C for internal development, and a near-production version, which is intended for commercial release in the future.
Bernstein analyst Jay Huang gave his first impression of the Optimus in a note, writing, Optimus... More
Mizuho Cuts Price Target on Tesla (TSLA)
October 6, 2022 7:05 AM EDTMizuho Securities reiterated a Buy rating on Tesla (NASDAQ: TSLA) and lowered the price target to $370.00 (from 391.67) following the release of the electric vehicle companys September delivery numbers.
Teslas deliveries were 42% to 343.8k units compared to the same time last year. However, the company... More
Canaccord Genuity Believes Rivian’s (RIVN) 25K Production Goal 'Achievable'; Reiterates Buy
October 4, 2022 11:15 AM EDTCanaccord Genuity reiterated a Buy rating and $61.00 price target on electric vehicle maker, Rivian Automotive (NASDAQ: RIVN) following the release of the companys 3Q sales and production numbers.
The company produced and delivered its highest quarterly vehicles to date with total deliveries growing, 47% to 6,584 units in the quarter, compared to 4,467 units delivered... More
Rivian (RIVN) Reiterates Production Guidance; Truist Reiterates Buy Rating
October 4, 2022 10:58 AM EDTTruist Securities reiterated a Buy rating and $65.00 price target on Rivian Automotive (NASDAQ: RIVN) after the electric vehicle company released its 3Q sales and delivery numbers.
Rivian reportedly produced about 7.4K vehicles in the 3Q, compared to the street estimate of... More
RBC Capital Remains Bullish as Rivian (RIVN) Reiterates 25k Production Guide
October 4, 2022 10:43 AM EDTRBC Capital reiterated an Outperform rating and $62.00 price target on Rivian Automotive (NASDAQ: RIVN) following the release of the companys 3Q delivery and sales numbers. RIVN reported it delivered 6,584 vehicles and produced 7,363 vehicles in 3Q22. The consensus estimate for deliveries was 7.0k.
Analyst, Joseph Spak believes that a component shortage likely weighed on RIVN's ability to accelerate production in the quarter. Likewise, Spak believes... More
