Nike, First Republic and Luminar fall premarket; GameStop, Virgin Orbit soar

LG Energy in talks with Toyota (TM) to supply EV batteries

LG Energy CEO Kwon Young Soo announced Friday that the South Korean battery giant has entered into talks with Toyota Motors (NYSE: TM) in the hopes of supplying the automaker with EV batteries.

When asked about the negotiation progress with... More

UBS survey shows slowing pace of EV sector

UBS conducted the seventh wave of its annual UBS Evidence Lab EV consumer survey with results showing 46% of consumers are likely to consider buying a fully electric car (BEV), a 3%-pts decrease y/y, marking the first sequential decline since the surveys inception in 2016. Analyst Patrick Hummel believes that the decline was driven by European markets on affordability concerns.

Hummel wrote in a note, While we... More

GameStop (GME) leads meme stock rally after posting surprise 4Q profit

Shares of GameStop are up 37.28% in mid-day trading on Wednesday after the video game retailer posted its first profitable quarter since January 2021. The company reported a net income of $48.2 million, compared to a net loss of $147.5 million for the prior years fourth quarter.

Shares for other meme stocks popularized during the pandemic, including AMC Entertainment and Bed Bath & Beyond, also increased as a result.

GameStop CEO Matt Furlong told investors during a post-earnings call Tuesday that the companys profit was impacted mainly by a decision to cut costs,... More

Luminar Technologies (LAZR) cut at Goldman Sachs on margin headwinds

Goldman Sachs downgraded Luminar Technologies (NASDAQ: LAZR) to Sell from Neutral with a price target of $5 per share in a note Wednesday.

Analyst Mark Delaney wrote that the cut was based on margin headwinds and the stock's premium valuation.... More

Winnebago Industries (WGO) tops earnings expectations despite unit volume decreases

Winnebago Industries (NYSE: WGO) shares are rising premarket on the back of its earnings and revenue beat.

WGO stock has gained over 3% after it posted earnings of $1.88 in the second quarter, $0.51 better than the analyst estimate of $1.37. In addition, revenue came in at $866.7 million,... More

VW aiming for 3M small EVs produced in Spain between 2025-2030

Wayne Griffiths, the chairman of Volkswagen's Spanish unit SEAT, said on Wednesday that the German carmaker plans to produce 3 million small electric vehicles at its two plants in Spain between 2025 and 2030.

Griffiths said in a news conference that SEAT aims to assemble 500,000 electric cars a year in the... More

Stellantis (STLA) and Credit Agricole sign agreement to acquire activities of ALD and LeasePlan

Stellantis (NYSE: STLA) and Crédit Agricole Consumer Finance announced Wednesday that they have entered into a binding agreement for the acquisition of ALD and LeasePlans activities in Portugal and Luxembourg, respectively, following ALDs proposed acquisition of 100% of LeasePlan announced in January 2022.

The announcement follows the partnership agreements between Stellantis and Crédit Agricole Consumer Finance announced in... More