Dow futures fall 125 pts; caution ahead of consumer inflation data

Rivian (RIVN) CEO mentions possibility of future partners and expansion beyond Amazon in CNBC interview

Rivian (NASDAQ: RIVN) CEO RJ Scaringe met with CNBCs Phil LeBeau at the companys plant in Illinois for a Squawk Box interview one day after the electric automaker reported a smaller than expected 1Q earnings loss.

The company reported 1Q EPS of ($1.25), coming in ahead of ($1.59) estimates. The company also reported 1Q revenue of $661 million, ahead of estimates of $652 million ad the automaker continues to work towards... More

CFRA upgrades Rivian (RIVN) on strong 1Q performance and favorable liquidity position

CFRA Research upgraded Rivian Automotive (NASDAQ: RIVN) to a Sell rating (From Strong Sell) and raised their price target on the stock to $10.00 (From $8.00) following the electric automakers 1Q earnings beat on Tuesday.

RIVN posted 1Q adjusted EPS of -$1.25 ahead... More

CFRA Upgrades Rivian Automotive Inc (RIVN) to Sell

CFRA analyst Garrett Nelson upgraded Rivian Automotive Inc (NASDAQ: RIVN) from Strong Sell to Sell with a price target of $10.00 (from $12.00).

The analyst comments "We increase our 12-month price target by $2 to $10, comparable to the EV peer average. We increase our adjusted EPS estimates to -$6.55 from... More

Rivian (RIVN) reports strong 1Q despite concerns of intensifying EV competition

Rivian Automotive (NASDAQ: RIVN) ) reported its 1Q earnings results after the closing bell Tuesday, reporting EPS of ($1.25), $0.36 ahead of the consensus estimate of ($1.61). Revenue for the quarter came in at $661M versus the consensus estimate of $655.51M.

However, the strong 1Q beat wasnt enough to change RBC Capitals Sector Perform rating and $14.00 price target on the stock.

RBC analyst Tom Narayan wrote in a note, Rivian posted a strong Q1/23 EBITDA beat but maintained its 2023 guide, which we think implies a downshift coming from higher volumes at negative margins. Management presented a... More

U.S. EV shares slump following news of Lucid (LCID) and Fisker (FSR) poor 1Q results and production cuts

U.S. electric automakers saw a decline in share prices Tuesday morning following cuts to production forecasts by Lucid Group Inc (NASDAQ: LCID) and Fisker Inc (NYSE: FSR), with Lucid sliding 9% in early trading.

Fisker shares were last down 5.3% after the company reported quarterly results. The company reported 1Q EPS of ($0.38), $0.08 worse than the analyst estimate of ($0.30). Revenue for the quarter came in at $198 thousand versus the consensus estimate of $6.33 million. The EV maker also announced... More

Fox Corporation (FOX) rises as revenue boosted by Super Bowl, higher volume of NFL games

Fox Corporation (NASDAQ: FOX) topped first-quarter earnings and revenue estimates, sending its shares around 1% higher premarket on Tuesday.

The media giant reported third-quarter adjusted earnings of $0.94, $0.06 better than the analyst estimate of $0.88, while revenue for the quarter came in at $4.08 billion versus the consensus... More

Credit Suisse Downgrades PayPal (PYPL) to Neutral

Credit Suisse analyst Timothy Chiodo downgraded PayPal (NASDAQ: PYPL) from Outperform to Neutral with a price target of $85.00 (from $100.00).

The analyst comments "FY 2023 revenue & EPS higher, driven by Braintree strength and further cost reductions: PayPal delivered a ~200bps acceleration in Branded Checkout growth in Q1 relative to Q4 levels, which would suggest at least stable trends vs. industry data points (e.g., Shopify GMV... More

Truist adjust estimates on Rivian (RIVN) as shares face continued pressure ahead of 1Q report

Truist Securities reiterated a Buy rating on Rivian (NASDAQ: RIVN) and cut their price target on the stock to $28.00 (From $44.00) as shares continue to face pressure ahead of the electric automakers 1Q earnings report. Rivian is expected to release its 1Q earnings results after the closing bell on... More