JPMorgan Downgrades Rivian Automotive Inc (RIVN) to Underweight

Rivian Automotive Inc (RIVN) PT Lowered to $12 at Barclays

Barclays analyst Dan Levy lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $12.00 (from $16.00) while maintaining a Equalweight rating.

The analyst comments "Key takes: 1. Demand weakness materializing amid softer order book, '24 volume guide reflects demand challenges; 2. Mgmt reaffirmed gross... More

Analysts cut ratings on Rivian Automotive (RIVN) as EV slump extends

Analysts have moved to downgrade the shares of Rivian Automotive (NASDAQ: RIVN) on Thursday as the slump across electric vehicle stocks continues.

Electric Vehicle Stocks Decline

Shares of RIVN have declined more than 25% after the company's disappointing earnings release after the close on Wednesday. The company's production guidance also missed expectations when it said it would reduce its salaried workforce by around 10%.

Another EV company, Lucid Group, also forecast production below analyst expectations, with its share... More

CFRA Downgrades Rivian Automotive Inc (RIVN) to Sell

CFRA analyst Garrett Nelson downgraded Rivian Automotive Inc (NASDAQ: RIVN) from Hold to Sell with a price target of $10.00 (from $20.00).

The analyst comments "We cut our 12-month target to $10 from $20. We lower our adjusted EPS estimates to -$3.75 from -$3.00 for '24 and to -$3.00... More

Rivian Automotive Inc (RIVN) PT Lowered to $17 at DA Davidson

DA Davidson analyst Michael Shilsky lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $17.00 (from $19.00) while maintaining a Neutral rating.... More

Rivian, Lucid tumble as slowing EV demand upsets ramp-up plans

By Akash Sriram

(Reuters) -Rivian Automotive and Lucid Group tumbled on Thursday after their earnings reports pointed to the impact of slowing electric-vehicle demand on their costly ramp-up plans.

Rivian tanked 25% to a record low after it forecast flat growth in annual production, also hurt by a shutdown of its assembly line for upgrades. Lucid sank 9% as its production forecast also came below estimates.

The companies said an uncertain economic outlook and high interest rates were hitting demand for EVs, echoing remarks from market leader Tesla and legacy automakers like Ford.

"Despite having built a... More

Midday movers: Nvidia, Moderna rise; Etsy, Rivian fall

(Updated - February 22, 2024 11:22 AM EST)

Investing.com -- Main U.S. indexes rose strongly Thursday after blockbuster results from AI darling Nvidia helped boost sentiment, ahead of the release of more corporate earnings and important economic data.

Here are some of the biggest U.S. stock movers today

Nvidia (NASDAQ: NVDA) stock soared 15% after the worlds most valuable chipmaker reported better-than-expected fourth-quarter revenue and outlined a bullish forecast for artificial intelligence-fueled chip... More

Rivian Automotive Inc (RIVN) PT Lowered to $12 at Deutsche Bank

Deutsche Bank analyst Emmanuel Rosner lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $12.00 (from $16.00) while maintaining a Hold rating.... More

Rivian Automotive Inc (RIVN) PT Lowered to $20 at Canaccord Genuity

Canaccord Genuity analyst George Gianarikas lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $20.00 (from $30.00) while maintaining a Buy rating.... More

Rivian Automotive Inc (RIVN) PT Lowered to $14 at Wells Fargo

Wells Fargo analyst Colin Langan lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $14.00 (from $18.00) while maintaining a Equal Weight rating.... More

Rivian Automotive Inc (RIVN) PT Lowered to $18 at Needham & Company

Needham & Company analyst Chris Pierce lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $18.00 (from $22.00) while maintaining a Buy rating.... More

Rivian Automotive Inc (RIVN) PT Lowered to $24 at Mizuho Securities

Mizuho Securities analyst Vijay Rakesh lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $24.00 (from $30.00) while maintaining a Buy rating.... More

Rivian Automotive Inc (RIVN) PT Lowered to $23 at Cantor Fitzgerald

Cantor Fitzgerald analyst Andres Sheppard lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $23.00 (from $27.00) while maintaining a Overweight rating.... More

Rivian Automotive Inc (RIVN) PT Lowered to $23 at Baird

Baird analyst George Gianarikas lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $23.00 (from $30.00) while maintaining a Outperform rating.... More

S&P 500, Nasdaq futures rise as Nvidia pops on strong outlook

Investing.com-- S&P 500 and Nasdaq futures rose in evening deals on Wednesday, with the latter leading gains as optimism over a strong outlook from AI darling Nvidia drove investors into technology stocks.

Dow futures, however, were muted following a string of other weak earnings reports, while the minutes of the Federal Reserves late-January meeting showed the bank in no hurry to begin cutting interest rates. 

S&P 500 Futures rose 0.4% to 5,018.75 points, while Nasdaq 100 Futures futures rose 0.9% to 17,688.25 points by 18:12 ET (23:12 GMT). Dow Jones Futures fell 0.1% to 38,646.00 points. Outsized gains in the Nasdaq... More

Nvidia's blockbuster earnings, Fed minutes - what's moving markets

Investing.com -- Nvidia's revenue skyrockets above Wall Street projections in the fourth quarter, sending shares in the artificial intelligence chipmaking giant's soaring in extended trading. Elsewhere, minutes from the Federal Reserve's January meeting show that officials at the U.S. central bank were wary about cutting interest rates too soon.

1. Nvidia revenues top estimates as chipmaker hails AI "tipping point"

Shares in Nvidia (NASDAQ: NVDA) jumped in U.S. after market trade on Wednesday, touching a new record high, after the chipmaker clocked stronger-than-expected fourth-quarter revenues and... More

Truist Securities on Rivian Automotive Inc (RIVN): 'We expect shares to take a hit'

Truist Securities analyst Jordan Levy reiterated a Buy rating and $26.00 price target on Rivian Automotive Inc (NASDAQ: RIVN)

The analyst comments "Rivian reported a topline revenue beat and in-line EBITDA, while guidance for 2024 production came in below Street estimates both driven by the... More

After-hours movers: NVIDIA surges, Rivian sinks, and more

After-Hours Stock Movers:

NVIDIA Corporation (NASDAQ: NVDA) shares surged 9.5% after the chip maker beat earnings expectations for the fourth quarter and issuing guidance that topped views. Other AI-related stocks including Super Micro Computer (NASDAQ: SMCI), AMD... More

Rivian production guidance falls short; shares slump

Investing.com -- Rivian reported Wednesday annual production guidance that fell short of Wall Street estimates at a time when demand for electric vehicles continues to wane.

Rivian Automotive Inc (NASDAQ:... More

Rivian, Lucid's 2024 production targets disappoint as EV demand wanes

By Akash Sriram and Abhirup Roy

(Reuters) -Electric vehicle startups Rivian and Lucid forecast 2024 production well below analyst estimates on Wednesday as persistently high borrowing costs keep consumers from buying relatively pricier battery-powered cars.

Amazon.com-backed Rivian also said it would cut its workforce by 10%.

Shares in Rivian and Lucid plummeted 15% and 8% respectively after the announcements - the latest signs of a slowdown in EV demand flagged by automakers including Ford, General Motors and market leader Tesla. The plateauing demand sparked a price war last year as companies drained margins to woo customers.

Rivian Automotive (RIVN) Misses Q4 EPS by 1c, Cuts Jobs, Production Guidance Misses

(Updated - February 21, 2024 4:14 PM EST)

Rivian Automotive (NASDAQ: RIVN) reported Q4 EPS of ($1.36), $0.01 worse than the analyst estimate of ($1.35). Revenue for the quarter came in at $1.32 billion versus the consensus estimate of $1.28 billion.

Rivian Automotive (RIVN) call put ratio 1.5 calls to 1 put into quarter results and outlook

Rivian Automotive (NASDAQ: RIVN) February weekly call option implied volatility is at 240, March is at 103; compared to its 52-week range of 57 to 101 into the expected release of quarter results after the bell on February 21.

Rivian Automotive (RIVN) option straddle into quarter results

Rivian Automotive (NASDAQ: RIVN) February weekly 16 straddle priced for a move of 15% into the expected release of quarter results today after the bell and Rivian will reveal its next-gen R2 next month at their Laguna Showroom on March 7th.

Rivian Automotive (RIVN) February weekly option implied volatility into quarter results

Rivian Automotive (NASDAQ: RIVN) February weekly call option implied volatility is at 199, March is at 98; compared to its 52-week range of 57 to 101 into the expected release of quarter results after the bell on February 21.

Rivian Automotive (RIVN) February weekly 16 straddle into quarter results

Rivian Automotive (NASDAQ: RIVN) February weekly 16 straddle priced for a move of 15% into the expected release of quarter results after the bell on February 21.