Nikola Corp (NASDAQ: NKLA) reported second-quarter FY22 sales of $18.13 million, beating the consensus of $16.46 million. The company delivered 48 Tre BEVs and four Mobile Charging Trailers (MCT) in the quarter. Two additional Tre BEVs were delivered in the first week of July, which will be reported as part of Q3 revenues. The company incurred a gross loss for the quarter of $(29.3) million. Operating loss for the quarter widened to $(172.2) million. Adjusted EBITDA loss widened to $(94.3) milli
Investor’s Business Daily
The IBD SmartSelect Composite Rating for Ionis Pharmaceuticals rose from 94 to 96 Friday. The upgrade means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. Ionis Pharmaceuticals is currently forming a cup without handle, with a 44.52 entry.
(Bloomberg) — A senior executive at private-equity giant Apollo Global Management Inc. sees the chance of a lighter-than-usual recession next year, which would present an opportunity for firms that are still open for business to finance transactions.Most Read from BloombergChina Stokes Tensions as Missiles Reportedly Overfly TaiwanHow a Celebrity CEO’s Rule of Fear Helped Bring Down Hot Startup ZilingoSneakerhead Accused of Running Huge Air Jordan Ponzi Scheme“I don’t think it’s going to be a d
American City Business Journals
Nikola delivered 48 trucks to dealers in the second quarter leading to better than expected revenue results. Executives said they would have been able to build more vehicles, but they faced battery supply delays.
Canopy Growth Corp. shares fell 6% in premarket trades Friday after the company said it lost C$2.08 billion ($1.61 billion), or $5.23 a share in its fiscal first quarter, compared to a profit of C$392.42 million, or C$1.02 a share, in the year-ago period. The loss was driven by a non-cash, C$1.73 billion goodwill impairment. Net revenue dropped 19% to C$110.12 million from C$136.21 million. Analysts expected Canopy Growth to lose C$0.29 a share on revenue of C$112.7 million, according to FactSet
Chief Executive Elon Musk owns 15.6% of Tesla, according to Refinitiv data, after selling millions of shares last year. Each stockholder of record on Aug. 17 will get a dividend of two additional shares for each share held, to be distributed after close of trading on Aug. 24, the company said. The new share split comes two years after a five-for-one split helped bring down the price of the high-flying stock within the reach of ordinary investors.
Are markets down, or up? Stocks went into a true bear market earlier this year, but the last few weeks have seen a strong rally. The S&P 500 has gained 13% from its mid-June trough, and the NASDAQ is up 19%. Put shortly, the last few weeks have been good for investors. This doesn’t mean, however, that we’re out of the woods. There are plenty of roadblocks still ahead to trip up an unwary investors, and Chief Investment Officer Larry Adam, from Raymond James, doesn’t hesitate to lay them out. “In