Lululemon, MongoDB and Five Below rise premarket; PagerDuty falls

EPA to scrap proposed EV volumes from biofuel blending rule

Reuters reports today, citing three unnamed sources familiar with the matter that the Biden administration is planning to discard a proposal to include the electric vehicle industry into the U.S. biofuel blending program. Additionally, the administration intends to retract tradable credits worth potentially billions of dollars that were associated with this initiative.

It was first reported in early May that the Environmental Protection Agency (EPA) was considering delaying the EV program over concerns the plan could trigger lawsuits. The... More

Global EV penetration reaches 14% in April with promising uptick in May

Barclays April report card shows that global electric vehicle penetration reached 14% in April, slightly outpacing last years EV penetration of 13%; however, it fell short of the heightened levels observed in the fourth quarter of 2022. Shifting focus to May, the industry is demonstrating promising signs of a substantial m/m increase in EV penetration, indicating a positive trajectory.

Additionally, while Tesla's (NASDAQ: TSLA) market share remains stable, the actual strength might not be as robust as the price reductions would have you expect. Lastly, the US electric vehicle market continues to make... More

Ford's (F) deal with Tesla (TSLA) charges up industry and sparks standardization talks

The recent move by Ford Motor Co (NYSE: F) to grant its customers access to Tesla's (NASDAQ: TSLA) electric-vehicle charging network has caused significant waves in the industry. This decision has sparked discussions about the need for a standardized charging infrastructure across the United States and has also cast uncertainty on the future of struggling charging startups.

The deal, announced last month, outlined plans to provide drivers of Ford vehicles in North America with access to over 12,000 Tesla Superchargers, starting in 2024. Under the deal, Ford will... More

DA Davidson cuts estimates on Chargepoint (CHPT), maintains Buy

DA Davidson reiterated a Buy rating on ChargePoint Holdings (NYSE: CHPT) and cut their 12-month price target on the stock to $15.00 (From $18.00) after adjusting estimates through their FY25 modeling period.

Analyst Matt Summerville reduced DA Davidsons top-line outlook for FY24/FY25,... More

Guggenheim Positive on Five Below (FIVE): 'All Things Considered, A Good 1Q Print'

Guggenheim analyst John Heinbockel reiterated a Buy rating and $220.00 price target on Five Below (NASDAQ: FIVE)

The analyst comments "The modest 1Q top and bottom-line shortfalls would have mattered most earnings seasons, but in the context of significant disappointments from... More

Five Below (FIVE) gains after bucking discretionary trend

Five Below (NASDAQ: FIVE) shares gained Friday after topping first-quarter earnings expectations.

The discount retailer reported Q1 EPS of $0.67, $0.04 better than the analyst estimate of $0.63, while revenue for the quarter came in at $726.2 million versus the consensus estimate of $728.67 million.

Looking forward, Five Below sees its Q2 EPS between $0.80 and $0.85, versus the consensus of $0.88, with revenue for the quarter from $755 million to $765 million, versus the consensus of $768 million.

FY2024 EPS is seen between $5.31 and $5.71, versus the... More