Freyr Battery, Inc. ( NYSE:FREY ) shares jumped 26% Wednesday on the completion of its first production trial of unit cells using the full capabilities of the Casting and Unit Cell Assembly machine, marking a significant technical achievement. This milestone positions Freyr as a trailblazer in giga-scale battery production, becoming the first company globally to...
Pivot Energy has partnered with American electric vehicle (EV) manufacturer Rivian ( NASDAQ:RIVN ) to build community solar in Illinois. Rivian ( NASDAQ:RIVN ) will purchase Renewable Energy Certificates (RECs) generated from 50 MWdc of solar and subscribe to 10 MWdc of community solar from Pivot Energy for its Illinois manufacturing facility. This partnership...
Analog Devices ( NASDAQ:ADI ), a semiconductor manufacturer, has reported better-than-expected results and guidance as inventory backlogs eased. The company's fiscal second-quarter adjusted earnings per share (EPS) of $1.40 beat estimates, while revenue slumped 34% year-over-year to $2.16 billion, but that was above forecasts. CEO Vincent Roche explained that...
Crypto venture capital firm Animoca Brands plans to acquire more NYSE:EDU tokens from the open market, causing Open Campus ( NYSE:EDU ) to soar by over 30%. The Hong Kong-based firm, known for its blockchain games like The Sandbox and Eden Games, aims to support the NYSE:EDU Chain, a layer-3 blockchain solution designed to serve the global education industry....
Lululemon Athletica ( NASDAQ:LULU ) has announced an organizational restructuring, with Chief Product Officer Sun Choe resigning to pursue another opportunity. The company stated that the changes are designed to support the company's growth plans, accelerate product innovation, and enable its go-to-market strategies. Lululemon ( NASDAQ:LULU ) will not replace the...
Target's first-quarter earnings and sales fell by 7.38% due to inflation, causing shares to fall in pre-market trading. Adjusted earnings per share were $2.03, down from $2.05 year on year and worse than analysts expected. Total revenue was $24.53 billion in the first quarter ended May 4, down 3.1% from $25.32 billion in the same period last year. First-quarter...
Ethereum-based memecoin CRYPTOCAP:PEPE has surged 27% to a new all-time high over the past 24 hours, driven by speculation around the potential approval of spot Ether exchange-traded funds (ETF) in the United States. The surge is driven by the expectation that the U.S. Securities and Exchange Commission (SEC) will approve spot Ether ETFs by a May 23 deadline. ...
The TJX Companies, Inc. ( NYSE:TJX ) reported Q1 FY25 results, showing consolidated comparable store sales growth of 3% at the high-end of the company's plan, driven by an increase in customer transactions. The company also reported a pretax profit margin of 11.1%, up 0.8 percentage points compared to last year and well above its plan. The company's diluted...
Williams-Sonoma, Inc. ( NYSE:WSM ) announced its first quarter 2024 results, showing a comparable brand revenue of -4.9% and an operating margin of 19.5%. The company's President and CEO, Laura Alber, expressed satisfaction with the results, citing improved top-line trends and continued profitability. The company's gross margin increased by 690bps compared to the...
Viasat shares ( NASDAQ:VSAT ) fell over 11% after the bell on Tuesday, as the company forecasted annual revenue below Wall Street estimates due to a slowdown in its satellite services business. The company expects revenue from its satellite services to decline in low to mid-single digits as its U.S. fixed broadband business faces competition from wireless carriers...
Sui Network ( NYSE:SUI ) has experienced a 26% increase in price over the past week due to the launch of its Mysticeti upgrade on testnet. The upgrade has pushed Sui to the top among the fastest blockchains, with the consensus latency reduced to 390ms, an 80% reduction from Narwhal-Bullshark. Sui Network is known for its high-performing blockchain protocol and is...
XPeng ( NYSE:XPEV ), a Chinese electric vehicle (EV) maker that focuses on artificial intelligence (AI) technology, reported better-than-expected results as deliveries of its electric vehicles jumped. The company's loss was slashed in half, and revenue was up 62.3% year-over-year. Delivery increases increased 19.7% due to lower prices and the launch of a new...
Trump Media & Technology Group ( NASDAQ:DJT ) stock fell 8.27% after reporting a $327.6 million Q1 loss, marking its first quarterly report as a public company. The company, which operates the social media network Truth Social, generated just $770,500 in revenue for the first quarter, with a net loss of $210.3 million in the first quarter of 2023. The company...
Alchemy Pay, a prominent player in the fiat-crypto payment solutions arena, has announced the launch of its new venture, the Web3 Digital Bank, which aims to revolutionize cross-border payments. The initiative is set to revolutionize multi-fiat account opening and operation, streamline cash flows, and enable seamless conversions between fiat and cryptocurrency for...
Lowe's shares ( NYSE:LOW ) rose in pre-market trading after the retailer reported first-quarter earnings that beat analysts' estimates, despite declining from the year-ago period amid a pullback in home-improvement spending. The company said growth in digital sales and market share among professional contractors helped partially offset a continued slowdown in...
Palo Alto Networks ( NASDAQ:PANW ) reported fiscal third-quarter results that exceeded analysts' expectations and provided revenue guidance that matched estimates. The company's shares fell over 8% in extended trading following the release of the quarterly earnings report. Palo Alto ( NASDAQ:PANW ) reported revenue for the latest quarter of $1.98 billion, a 15%...
Ether (ETH) has surged 20% to over $3,829 as favorable regulatory developments increase the likelihood of ETF approval. CoinDesk 20, tracking the largest digital assets, rose nearly 8% amid positive regulatory progress on Ether ETFs. The Securities and Exchange Commission (SEC) has made abrupt progress in the approval of a Ether ETF by asking exchanges to update...
Zoom Video Communications ( NASDAQ:ZM ) has raised its annual forecast for profit and revenue, citing robust demand for its product portfolio as companies continue to adopt hybrid work. The company's efforts to incorporate artificial intelligence (AI) and broaden its range of services have been successful, with the introduction of Zoom Workplace, an AI-powered,...