© Reuters
By Davit Kirakosyan
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Rivian Automotive shares plunge on big Q4 revenue loss
rivian automotive (NASDAQ:) shares fell more than 8% pre-trade today after the company posted significantly worse-than-expected fourth-quarter revenue of $663 million (vs. consensus of $729 million) as it delivered just 8,054 10,020 vehicles produced.
Adjusted came in at ($1.73), compared to the consensus of ($1.96).
The company’s 2023 production forecast fell short of analyst expectations, with anticipated production of 50,000 vehicles and adjusted EBITDA of ($4.3B) for the full year.
Novavax shares plunge in Q4, announce ‘going concern’ rating
novavax (NASDAQ:) Shares plunged more than 24% before trading today after the company reported it was out of the fourth quarter and announced a “going concern” rating.
came in at ($2.28), worse than the consensus of ($1.19). Revenue was $357 million, below the consensus estimate of $383.14 million.
The company said it aims to reduce spending and operate efficiently to maximize opportunities and mitigate uncertainties in the COVID-19 market, but noted that there are substantial doubts about its ability to continue as a going concern for one year due to to revenue and financing uncertainties.
HP reports mixed first quarter results, shares rise
HP (NYSE:) was up more than 3% pre-market today after mixed first-quarter earnings results. came in at 0.75, better than the consensus of $0.74, while revenue of $13.8 billion missed the consensus estimate of $14.15 billion due to a weaker demand backdrop for demand for printers and personal computers.
The company expects Q2 ’23 earnings per share to range between $0.73 and $0.83, compared with the consensus of $0.75. For the full year, EPS is expected to be in the range of $3.20-$3.60, compared to consensus estimates of $3.29.
Puma posts record revenue in 2022, but sees earnings fall in 2023 and increases dividend
Cougar (ETR:) (OTC:) posted record results in 2022, with sales up 19% to €8.47 billion (€1 = $1.0642), EBIT up 15% to €641 million euros and an increase of 14% in the 2.36.
Despite last year’s strong performance due to factors such as the soccer World Cup and a weak euro, Puma expects earnings to be affected by currency movements, high freight rates and raw material prices.
It provided a wide forecast range of €590 million to €670 million for EBIT this year, with revenue growth expected to slow to just under 10%.
Additionally, the company increased its dividend by 14% to $0.82 per share, at the high end of its target payout range of 25% to 35% of net earnings.
Shares fell more than 3% intraday today in Frankfurt.
First Solar picks up on Q4 pace and better-than-expected guidance
first solar inc (NASDAQ:) shares were up more than 4% before trading today after better-than-expected fourth-quarter earnings and guidance announcement for 2023.
came in at ($0.07), compared to the consensus estimate of ($0.17). Revenues were $1 billion, in line with expectations.
For the full year 2023, the company expects revenue in the range of $3.4-$3.6 billion, compared to the consensus of $3.34 billion, and EPS in the range of $7-$8, compared to the consensus estimate of $4.77.
