2 hours in the past
Shares of Lucid fall on manufacturing and transport information
Lucid electrical automobile maker Lucid fell greater than 5% in prolonged buying and selling after it advised prospects fewer Air sedans than it produced.
The corporate produced 2,314 of its Air sedans within the first quarter, whereas delivering 1,406 Airs to prospects throughout the identical interval. The mismatch between manufacturing and provides might be taken as an indication that demand was weaker than anticipated within the quarter.
And that supply determine despatched Wall Road right into a tailspin. Analysts polled by FactSet anticipated the corporate to ship about 2,000 Airs within the quarter.
– John Rosewar, Alex Haring
2 hours in the past
Indexes on tempo to publish profitable weeks
With solely Friday’s session left to finish the buying and selling week, the three main indices are set to conclude.
As of Thursday’s shut, the Dow led the best way, up 1.6% for the week. The S&P 500 was poised for a 1% achieve for the week, whereas the Nasdaq Composite was on monitor to realize 0.7%.
– Alex Haring
2 hours in the past
Hartford Monetary is down 3% after issuing weak earnings steerage
Hartford Monetary fell greater than 3% in after-hours buying and selling after the corporate warned that its first-quarter revenue could also be worse than anticipated.
The insurance coverage firm issued preliminary steerage for adjusted earnings per share of $1.68 for the quarter, under the $1.99 consensus estimate of analysts polled by FactSet.
Catastrophic losses from winter storms and up to date tornadoes, wind and hail throughout the nation have been the drivers of the quarter’s outcomes, the corporate mentioned in a information launch. Catastrophic losses within the first quarter totaled $185 million earlier than taxes.
– Alex Haring, Robert Hume
2 hours in the past
Wells Fargo falls in prolonged buying and selling as buyers stay up for Friday’s financial institution earnings
Wells Fargo fell 1% in prolonged buying and selling as buyers braced for a slew of earnings experiences from main banks.
The financial institution plans to report earnings on Friday together with JPMorgan and Citi. JPMorgan was down 0.2% and Citi was down 0.2% after hours.
– Alex Haring
2 hours in the past
Choices level to earnings progress positioning, says RBC derivatives strategist
Amy Wu Silverman, fairness derivatives strategist at RBC Capital, mentioned choices positioning exhibits buyers are shopping for extra upside than draw back to their earnings-based monetary metrics.
Choices on the SPDR S&P Regional Financial institution ETF, in addition to the Monetary Choose Sector SPDR Fund, are at the moment leaning towards the decision facet, Wu mentioned. Name choices are betting on the underlying safety to rise in worth.
“Brief time period, I see these alternatives. For instance, for example monetary,” Wu mentioned on CNBC’s “Closing Bell Additional time.” “These possibility costs are comparatively low cost for an earned season, particularly one which’s this necessary and this short-term, you may nonetheless have some calls.”
– Yun Lee
3 hours in the past
Inventory futures are buying and selling decrease
All three main futures indexes have been barely decrease after the beginning of prolonged buying and selling.
Dow and Nasdaq 100 futures have been every down 0.2%. S&P 500 futures, in the meantime, fell 0.1%.
– Alex Haring
