Stocks Could Keep Rising If the Fed Shows Restraint

Text size As the market rebounds, speculative stocks are stirring. For proof, consider Cathie Wood’s ARK Innovation ETF, up about 40% since mid-June. David Swanson/Reuters/Alamy What bear market? Stocks continued their summer rally this past week as better-than-expected inflation results helped lead to a 3.3% gain in the S&P 500 index, its fourth consecutive weekly … Read more

Rivian Keeps 2022 Production Guidance Intact. The Stock Is Still Falling.

Text size The Rivian R1S should start shipping to customers in just a few months. Courtesy of Rivian Electric-truck maker Rivian Automotive reported a wider-than-expected quarterly loss, but more important, maintained its production estimates for the full year. The stock is wobbling while investors digest the news. Rivian (ticker: RIVN) reported an adjusted per-share loss … Read more

Workhorse Stock Sinks After Company Cuts Its Sales Outlook

Text size Workhorse reported a net loss of $21.2 million. Courtesy Workhorse Workhorse Group stock tumbled on Tuesday after the electric-van manufacturer said it expects to sell fewer vehicles than previously expected and cut its revenue guidance for the full year. Workhorse (ticker: WKHS) said in its second-quarter earnings release that “assuming supply chain lead … Read more

Norwegian Stock Sinks as It Predicts Losses to Continue

Text size The cruise company predicted it would continue to be unprofitable in the third quarter. Alexandre Meneghini/Reuters/Alamy Shares of Norwegian Cruise Line Holdings fell in premarket trading Tuesday after the cruise company predicted it would continue to be unprofitable in the third quarter. Norwegian (ticker: NCLH ) posted a second-quarter adjusted loss of $478.3 … Read more

Senate Passes Climate Bill. The Rush to Renewable Energy Is On.

The climate and tax package passed by the Senate on Sunday will unlock some $370 billion in funding for clean energy and accelerate a historic shift in how the world is powered. Along with a parallel initiative in Europe, the bill could trigger private investments that reach into the trillions. The transition to renewable energy … Read more

Berkshire Hathaway Beats Estimates for Second-Quarter Profits

Text size Berkshire Hathaway CEO Warren Buffett added slightly to stakes in Apple and Chevron. Andrew Harrer/Bloomberg Berkshire Hathaway ’s operating profits rose 39% in the second quarter, topping estimates, on strength in the company’s insurance and railroad businesses as well as sharply higher investment income. The company continued to moderate its pace of share … Read more

DraftKings Stock Surges as Online Betting Company Boosts Revenue Outlook

Text size DraftKings reported revenue of $466 million for the second quarter, beating Wall Street estimates. Scott Eisen/Getty Images for DraftKings DraftKings gave investors a nice surprise Friday. The online sports betting platform lifted its financial forecast, despite a gloomy macro environment and just a few days after rivals Caesars Entertainment and PENN Entertainment reported … Read more

Virgin Galactic Stock Tumbles as Commercial Service Again Delayed

Text size Courtesy Virgin Galactic Shares of Virgin Galactic were tumbling Friday after the space tourism company pushed back the launch of commercial service to the second quarter of 2023. Virgin Galactic (ticker: SPCE) last said it expected to start commercial space-tourism service in the first quarter of next year. That was after pushing back … Read more

Coinbase Stock Soars as Crypto Exchange Forms Partnership With BlackRock

Text size BlackRock is partnering with Coinbase to offer Bitcoin trading services. Michael Nagle/Bloomberg BlackRock is partnering with Coinbase Global to offer Bitcoin trading services to institutional clients, representing a push into cryptocurrencies for the world’s largest asset manager and a ringing endorsement for the embattled crypto exchange. Institutional investors who use BlackRock ’s Aladdin … Read more

AMD Stock Drops After Earnings

Text size AMD shares are down 31% so far this year. Dreamstime Advanced Micro Devices reported better-than- expected earnings results Tuesday afternoon. But the company forecast less revenue than expected for its September quarter, sending the stock lower in after-hours trading. AMD (ticker: AMD) cited deteriorating demand in the overall PC market for its guidance. … Read more