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is rivian a target with all that cash it has and need for growth? that's something to keep thinking about. >> interesting thought to leave it there on. alex, thank you. >> phil, thank you and emily wilkins who is long gone thank you her as well. >>> apple is not the only company unveiling new ai hardware today deirdre bosa has more in today's tech check hi, dee. >> hey, tyler. google is taking a very different tact the latest pixel is a mid range phone starting at 499 bucks, that's cheap in the smart phone world. it includes some of the genai bells and whistles of pricier models becoming a feature of hardware ai upgrade cycles but to put this in context, this is small potatoes for google they claim less than 5% of the u.s. market. the real battleground, of course, is search as investors parse through every data point, every talking point for signs that gen-ai dominance. speaking of that, love of chat bot the comments on squawk could be fodder for the bulls. have a listen. >> i love perplexity, although kids on the west coast weren't using chatgpt or
is rivian a target with all that cash it has and need for growth? that's something to keep thinking about. >> interesting thought to leave it there on. alex, thank you. >> phil, thank you and emily wilkins who is long gone thank you her as well. >>> apple is not the only company unveiling new ai hardware today deirdre bosa has more in today's tech check hi, dee. >> hey, tyler. google is taking a very different tact the latest pixel is a mid range phone starting at 499...
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shares of reddit, rivian, ea, wynn, all on the move. the numbers out of the reports next. >>> plus, has the a.i. surge come too far too fast in our markets? what one billionaire investor has to say about the sector, and what it could mean for your money. ilwh "ston" ey returns.sor, i promise that our relationship will go well beyond just investment decisions. it's the intersection of your money and your life where we can make the biggest difference. [announcer] charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com (vo) what does it mean to be rich? to helping people achieve their financial goals. maybe rich is less about reaching a magic number... and more about discovering magic. >>> welcome back to "fast money. stocks closing mixed with the dow notching its fifth day of gains. its longest winning streak since december the s&p with a small gain, and the nasdaq lower by a tenth of a percent, snapping its o
shares of reddit, rivian, ea, wynn, all on the move. the numbers out of the reports next. >>> plus, has the a.i. surge come too far too fast in our markets? what one billionaire investor has to say about the sector, and what it could mean for your money. ilwh "ston" ey returns.sor, i promise that our relationship will go well beyond just investment decisions. it's the intersection of your money and your life where we can make the biggest difference. [announcer] charles schwab...
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May 8, 2024
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a break down with rivian c.e.o. rj scaringe. rj: it's a false metric and it just causes a lot of noise. so we'd look to focus on the product. we're two years out from launch. and our goal is to ramping production as quickly as possible so people don't have to wait in the case of our r-1 products. ed: rj, in your filings is the proportion of the r-1 generation that at least versus bought seems to be going up -- pleas versus bought seems to be going up. is it a good thing for rivian in this environment where you're between the two growth phases. if more r-1 generations at least. rj: yeah. we don't disclose the sales on lease. we've expand the lease to offer the r1s as well. it's now 32 states. now that the key to recognizes leasing does have an advantage for electric vehicles in that any lease qualifies for the $7,500 tax credit and of that leads to a disproportionately large number of leases given the benefits of that credit. caroline: and i do want to talk a little bit about what's going on with the factors. because you shut dow
a break down with rivian c.e.o. rj scaringe. rj: it's a false metric and it just causes a lot of noise. so we'd look to focus on the product. we're two years out from launch. and our goal is to ramping production as quickly as possible so people don't have to wait in the case of our r-1 products. ed: rj, in your filings is the proportion of the r-1 generation that at least versus bought seems to be going up -- pleas versus bought seems to be going up. is it a good thing for rivian in this...
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rivian partnership. this is more likely something on the car play side that's where you plug in your phone and get the apps and so forth from your phone on the display we're getting rivian earnings tonight so we'll see if there's any announcement there, guys. >> i made some waves premarket today. thanks fascinating look at the ipad rollout. turn to disney the company does report a surprise profit and streaming entertainment and raises its earnings forecast. shares under pressure. hugh johnston on the call talking about travel demand at the parks. >> while consumers continue to travel in record numbers and we are still seeing healthy demand, we are seeing some evidence of a global moderation from peak post-covid travel. >> michael morris, guggenheim media analyst joins us, michael has a buy on disney and target of 140 it's great to see you again. i do wonder, you know, for a print where streaming was going to be one of the key narratives, is the parks' commentary a bit of a supprprise >> absolutely. i thi
rivian partnership. this is more likely something on the car play side that's where you plug in your phone and get the apps and so forth from your phone on the display we're getting rivian earnings tonight so we'll see if there's any announcement there, guys. >> i made some waves premarket today. thanks fascinating look at the ipad rollout. turn to disney the company does report a surprise profit and streaming entertainment and raises its earnings forecast. shares under pressure. hugh...
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of scaringe ceo of rivian. wider than expected loss stock under pressure today and a lot of people looking for your guidance rest of this year one relief affirms your guidance in terms of production and targets out there. the other hand people are looking at the ev market and not sure to expect what your take >> yeah. i mean, there's an ongoing discussion just around how rapidly the entirety of the automobile industry will electrify. our view and conviction is very much over time we'll see the entirety of -- of, you know, of our vehicle population move to electric propulsion. this is going to take time and key for that is giving customers lots of choices. >> speaking of choices, you've got the r2, your next model which is a crossover utility vehicle, or small suv. however you want to phrase that. you're going to build that in illinois, have lower capex this year in part because you're not gelding in georgia are you confident you can begin production by end of next yearin first quarter of '26 >> we couldn't be m
of scaringe ceo of rivian. wider than expected loss stock under pressure today and a lot of people looking for your guidance rest of this year one relief affirms your guidance in terms of production and targets out there. the other hand people are looking at the ev market and not sure to expect what your take >> yeah. i mean, there's an ongoing discussion just around how rapidly the entirety of the automobile industry will electrify. our view and conviction is very much over time we'll...
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May 10, 2024
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rivian, $9.9 billion. closer to rivian in terms of market value. this is the biggest ipo for a china-based company since 2021 and the didi debacle. a lot of positive interest. maybe it will open up the u.s. ipo market more for some other chinese companies. although there are biden headlines that make interesting attention. the optics are not great. >> talk through some of the considerations when we are thinking about the tariffs and what the administration is planning. even though you have -- a point abigail made earlier, zeekr doesn't have great exposure to the u.s., but how does it tackle the issues we are seeing? >> the chinese ev makers have exposure, very few vehicles of any kind are exported to the united states. but the companies are what the government is worried about. chinese makers, they are making great inroads to south america and mexico right now. they can build ev's in mexico and explore them here, or export them in china. they have a huge cost advantage because the supply chain for ev batteries and all of those things is much more m
rivian, $9.9 billion. closer to rivian in terms of market value. this is the biggest ipo for a china-based company since 2021 and the didi debacle. a lot of positive interest. maybe it will open up the u.s. ipo market more for some other chinese companies. although there are biden headlines that make interesting attention. the optics are not great. >> talk through some of the considerations when we are thinking about the tariffs and what the administration is planning. even though you...
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May 13, 2024
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>> we're excited about the partnership with rivian. that's all i can say. >> do you feel safer in this vehicle? >> yes, i do. >> reporter: delivery drivers like sylvia farfin say 360 camera sensors make the new vans feel safer. and now that she's gone electric -- >> do you think you could go back to driving one of the old gas-powered vans? >> no. not at all. i like this way too much for me i like this way too much for me to go back to a when enamel is gone, you cannot get it back. but you can repair it with pronamel repair. it penetrates deep into the tooth to actively repair acid weakened enamel. i recommend pronamel repair. with new pronamel repair mouthwash you can enhance that repair beyond brushing. they work great together. new herbal essences is packed with naturally derived plant based ingredients your hair will love and none of the stuff it won't. our sulfate free collections smell incredible and leave your hair touchably soft and smooth. new herbal essences. and we're done. (♪♪) hmm, what about these? (♪♪) looks right
>> we're excited about the partnership with rivian. that's all i can say. >> do you feel safer in this vehicle? >> yes, i do. >> reporter: delivery drivers like sylvia farfin say 360 camera sensors make the new vans feel safer. and now that she's gone electric -- >> do you think you could go back to driving one of the old gas-powered vans? >> no. not at all. i like this way too much for me i like this way too much for me to go back to a when enamel is gone,...
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earlier this year rivian laid off about 150 workers in the bay area as part of its plan to reduce salaried staff by 10%. >>> employees at an apple store in maryland are threatening to walk off the job. they voted to authorize the first strike against the company's retail operations, saying they want more money and a better work/life balance. the location in the baltimore suburbs was also the first u.s. apple store to unionize nearly two years ago. they haven't said when the strike could begin, but in this statement apple said it will engage with the union respectfully and in good faith. >>> up next, lake tahoe approaching full capacity the first time in five years, why there could be one major drawback. >>> and we are two weeks away from the unofficial start to the summer travel season. we'll tell you the worst time to >>> lake tahoe is expected to reach full capacity for the first time in five years and we're talking about the water level, not people. that's thanks to two very wet winters in a row. the snowpack peaked above median levels ending the year to 108 to 244% of average. the lake
earlier this year rivian laid off about 150 workers in the bay area as part of its plan to reduce salaried staff by 10%. >>> employees at an apple store in maryland are threatening to walk off the job. they voted to authorize the first strike against the company's retail operations, saying they want more money and a better work/life balance. the location in the baltimore suburbs was also the first u.s. apple store to unionize nearly two years ago. they haven't said when the strike...
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ward layoffs in the tech industry, the chronicle reporting that both google and rivian automotive are said to cut dozens of employees by next month. google says 57 various positions will be eliminated in san francisco. a few weeks ago the bay area tech company got rid of the other positions across the development team. meanwhile rivian will be cutting 28 jobs at the palo alto office in addition to 92 rows at its southern california facility. earlier this year the cut around 150 workers in the bay after they said they had plan in place to lower their salaried staff by about 10%. >>> fast food prices continue to rise. an analysis by finance buzz found that mcdonald's prices doubled from 2014 to today. popeyes, chipotle and talk about also saw a pretty big jumps. starbucks prices increase by about 30%. >>> time for a look at what is coming up later. tony dokoupil joins us live from new york. we were just talking about starbucks and the increased cost. i need a positive story that you are about to tell us. >> we will have that for you. coming up, anyone looking for an uplifting start, dav
ward layoffs in the tech industry, the chronicle reporting that both google and rivian automotive are said to cut dozens of employees by next month. google says 57 various positions will be eliminated in san francisco. a few weeks ago the bay area tech company got rid of the other positions across the development team. meanwhile rivian will be cutting 28 jobs at the palo alto office in addition to 92 rows at its southern california facility. earlier this year the cut around 150 workers in the...
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google and rivian automobile company will be laying off workers. google is set to lay off 57 employees in san francisco next month. this comes after the company announced it's closing its embarcadero office in the city next year, after rivian's also laying off 28 employees at its palo alto office. it's dealing with billions of dollars in losses. companies filed documents with the state employment development department alerting them to the layoffs. well, tomorrow, people in san jose will get to sound off on the growing debate over how to spend city housing funds. they were earmarked for permanent, affordable homes. but now the mayor and others want to use that money for temporary housing. mayor matt mahan wants money gathered from measure e, basically earmarked for permanent housing. he also wants it used for homelessness. homeless issues such as interim housing and cleaning up creeks polluted mainly by encampments. mayor made a similar proposal. similar proposal last year, triggering the heated debate. at one point, homeless advocates stormed the
google and rivian automobile company will be laying off workers. google is set to lay off 57 employees in san francisco next month. this comes after the company announced it's closing its embarcadero office in the city next year, after rivian's also laying off 28 employees at its palo alto office. it's dealing with billions of dollars in losses. companies filed documents with the state employment development department alerting them to the layoffs. well, tomorrow, people in san jose will get to...
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rivian is also laying off 28 employees at its palo alto office. it's dealing with billions of dollars in losses. the companies filed documents with the state alerting them to the layoffs. okay, an important project underway, creating a space for the vietnamese community here in the bay area. san jose city leaders came together this morning at the vietnamese heritage garden, rolling up their sleeves. they got out some shovels for a groundbreaking ceremony. they're installing a statue called the thank you america monument. it's part of a long term vision for the heritage garden. the goal is one that they the space will host community events, cultural performances, and educational programs. san jose mayor matt mahan was there talking about what this means. over 100,000 people of vietnamese descent call our city home. san jose is yours and you deserve a place just for you. somewhere with reminders of where you've been and where you have yet to go. the mayor says. the statue will be unveiled later this summer. rob mayeda here now with a forecast and th
rivian is also laying off 28 employees at its palo alto office. it's dealing with billions of dollars in losses. the companies filed documents with the state alerting them to the layoffs. okay, an important project underway, creating a space for the vietnamese community here in the bay area. san jose city leaders came together this morning at the vietnamese heritage garden, rolling up their sleeves. they got out some shovels for a groundbreaking ceremony. they're installing a statue called the...
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meanwhile, rivian will be cutting 28. jobs and its palo alto office. in addition to 92 roles at its southern california facility. earlier this year, the company cut about 150 workers in the bay after they said they had a plan in place to lower its salaried staff. by 10%. coming up. we recognize the resilience of our asian american community and the difference they make here in the bay. in the world of politi ♪ rise ♪ ♪ rise ♪ ♪ rise ♪ (alarm beeping) ♪ rise ♪ ♪ and thrive! ♪ (♪♪) belvita! apart. of a aapi heritage month means highlights. the resilience. of our asian community. something showing up in the power of the asian vote in the bay concerned about the rise of a p i hate and attacks on the elderly community members decided to become a part of the solution. they felt they were ignored. largely so in 2022, the power of the asian vote led the charge to the recall of former san francisco dhs, aberdeen and in that same year they recalled 3 of the city's unified school districts school board members. ><<>yeah. and public safety
meanwhile, rivian will be cutting 28. jobs and its palo alto office. in addition to 92 roles at its southern california facility. earlier this year, the company cut about 150 workers in the bay after they said they had a plan in place to lower its salaried staff. by 10%. coming up. we recognize the resilience of our asian american community and the difference they make here in the bay. in the world of politi ♪ rise ♪ ♪ rise ♪ ♪ rise ♪ (alarm beeping) ♪ rise ♪ ♪ and thrive! ♪...
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and tv manufacturers rivian is cutting 28 jobs at his palo alto office. and in addition to 92 roles at its southern california facility, where for the 1st time in 15 months, oakland has a permanent police chief. void. mitchell's tenure technically started on saturday, but today was his 1st day in office. mitchell comes to oakland from lubbock, texas, where he was also police chief. he has 35 years of law enforcement. experience. he spent the morning meeting with different members of the department and even addressing the latest class of recruits. mitchell arrives at a time when overall crime is actually dropped by a 3rd and the 1st 4 months of 2024. but last year overall crime was way up, including a 21%. spike in violent crime, but 1 type of crime that still is rising is robberies. this past friday, the restaurant of a former top chef was broken into multiple times on the same night we're talking about al ahmar, a popular dominican spot in downtown oakland. chef nelson german tells us thieves took off with at least $6000 worth of liquor is the 8th time i
and tv manufacturers rivian is cutting 28 jobs at his palo alto office. and in addition to 92 roles at its southern california facility, where for the 1st time in 15 months, oakland has a permanent police chief. void. mitchell's tenure technically started on saturday, but today was his 1st day in office. mitchell comes to oakland from lubbock, texas, where he was also police chief. he has 35 years of law enforcement. experience. he spent the morning meeting with different members of the...
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shares of rivian job on the news of new funding from the state of illinois. we are in illinois with those details. >> leslie, rivian will be expanding its production edits plant in illinois. they will be chipping in $827 million that will help rivian as expands production and getting ready to build the next model. it will come out to compete with the r2. was going to be built in a new plant in georgia. and we are going to put that plant on hold. and move it to reduction. and we are going to have to expand production in the state of illinois is saying that we will chip in $827 million. that is why shares are moving higher. >> are there any contingencies on that money? is it a grant or a loan? what type of funding are they offering? >> as mere as i could tell it is a grant from the state of illinois. development fund grant, if you will. this is not a loan. >> they clearly want to keep this production is close to home. close to your home, too. >>> coming up, palatine sinkin . and a leadership change. we will get the details. and remember, you can hear us on our
shares of rivian job on the news of new funding from the state of illinois. we are in illinois with those details. >> leslie, rivian will be expanding its production edits plant in illinois. they will be chipping in $827 million that will help rivian as expands production and getting ready to build the next model. it will come out to compete with the r2. was going to be built in a new plant in georgia. and we are going to put that plant on hold. and move it to reduction. and we are going...
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lahren is looking at the movers and got to look at really and -- rivian. lauren: they make the electric pickup. they are reporting worse than expect a loss in the first quarter and they lose $38,000. a rumored lifeline would be a deal with apple for the i car, no comment on that. stuart: possibly abandoned the i car. it is a forlorn hope on the part of rivian. tripadvisor. what is going on? what happened? lauren: surprise loss. they were expected to report a profit. it was a loss and they formed a committee to decide what are some options? is there a deal out there for us? they determined their won't be any takeover. stuart: they are on their own and down 28%. intel. lauren: their forecast for this quarter's revenue, their license to do business with some companies like huawei in china, stock is down 2. 7%. stuart: they are $30 a share. almost at 50. lauren: china is what? stuart: squad member rashida tlaib demanded the international criminal court issue an arrest warrant for benjamin netanyahu. they deposit official christian whiten on that. the biden adm
lahren is looking at the movers and got to look at really and -- rivian. lauren: they make the electric pickup. they are reporting worse than expect a loss in the first quarter and they lose $38,000. a rumored lifeline would be a deal with apple for the i car, no comment on that. stuart: possibly abandoned the i car. it is a forlorn hope on the part of rivian. tripadvisor. what is going on? what happened? lauren: surprise loss. they were expected to report a profit. it was a loss and they...
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we have the vivian ceo joining -- rivian ceo joining ed ludlow. ed: one of the wider losses, we will get into it. the main question is, update us on the reservation number. you have not given us one since that initial march expectation. >> the expectation has been outstanding. different than what we did, we have taken the decision to not disclose where we are in terms of reservations. it caused us a lot of noise. we have taken the view that we want to be customer centric. we found a lot and how we manage the process, but there is a level of excitement and we are working hard to get it to market. katie: if you could give us a little bit more detail, i know you said you learned from the are one experience -- r1 experience. >> on the day of the launch, we gave a number of 16,000. now, we have obviously grown a lot from that, but the challenge with the number is, it is a false metric and it causes a lot of noise. we would rather focus on the product. our goal is to ramp up production as quickly as possible. ed: something i noticed that was interesting
we have the vivian ceo joining -- rivian ceo joining ed ludlow. ed: one of the wider losses, we will get into it. the main question is, update us on the reservation number. you have not given us one since that initial march expectation. >> the expectation has been outstanding. different than what we did, we have taken the decision to not disclose where we are in terms of reservations. it caused us a lot of noise. we have taken the view that we want to be customer centric. we found a lot...
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. >>> ev maker rivian shares are lowering their trade after posting a wider than expected loss for the first quarter ribbian also maintained a production forecast of 50,000 vehicles for this year, more than 5,000 below expectations. they saw the average selling price of its cars faw and lost $40,000 per vehicle. >>> we're going to hear from ceo rj scaringe from rivian coming up at 2:00 p.m. cet. >>> the number of active riders grew for lyft. earnings are expected today. reddit posts an increase well ahead of expectations as ad revenue outpaced social media rivals o with drought of 39% the results of reddits first with ceo steve huffman saying the firm's investments in ai and machine learning would support engainch management on the platform he told jim cramer that the strong advertising support was improving. >> really at the end of the day since reddit represents everybody's interests and passions, that means every company's customers are on r reddit somewhere so simply by making the product easier to use and making ads better and better, we're recognizing that. >>> disney posted earn
. >>> ev maker rivian shares are lowering their trade after posting a wider than expected loss for the first quarter ribbian also maintained a production forecast of 50,000 vehicles for this year, more than 5,000 below expectations. they saw the average selling price of its cars faw and lost $40,000 per vehicle. >>> we're going to hear from ceo rj scaringe from rivian coming up at 2:00 p.m. cet. >>> the number of active riders grew for lyft. earnings are expected...
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May 15, 2024
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. >>> we talked rivian is down a lot. i don't know the reason. you sent me the latest on china sales but that's tesla related and maybe a stock -- >> that's why tesla numbers are bad. >> not sure why rivian are down. >> it did have a bump there. >> maybe somebody else knew? >> the question with rivian, do they have the horses to stay in business. i think the situation got people, lucid is getting people. i think a lot of people love rivian but you have to feel like you have tucker. >> tucker as in the car -- >> yes. >> jeff bridges. >> that movie. >> was that cope la? >> yeah. >> it was a coppala movie? >>> we look forward to tonight. >>> after the break, live to jerusalem for that interview with israeli prime minister netanyahu as the s&p and nasdaq holding all-time highs. where you grew a dream into a reality. the all new godaddy airo. put your business online in minutes with the power of ai. >>> good wednesday morning, welcome to a special hour of "squawk on the street" i'm carl quintanilla with david faber here on post nine of the stock excha
. >>> we talked rivian is down a lot. i don't know the reason. you sent me the latest on china sales but that's tesla related and maybe a stock -- >> that's why tesla numbers are bad. >> not sure why rivian are down. >> it did have a bump there. >> maybe somebody else knew? >> the question with rivian, do they have the horses to stay in business. i think the situation got people, lucid is getting people. i think a lot of people love rivian but you have to...
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rivian losing a fortune. lucid's stock is down 95%. rivian's stock is down 92%. nobody wants these turkeys. even tesla laying off 10% of its global workforce and yet the bidens keep jamming this down our throats and spending a bloody fortune. give yous lass word, senator, on evs, pardon the phrase? >> all of the manufacturers want to move to these hybrid vehicles and get away from electric vehicles only. they don't work in the snow. they don't work in the cold. they don't work at elevation. they don't work where you can't get them charged which is most of the middle of the country. so the biden administration once again is telling the american people what to do and not listening to the consumer. it is ridiculous. larry: sorry up against a hard break. you're right. thank you, senator lummis, we always appreciate when you come on. folks be right back with the last word. limu, someone needs to customize and save hundreds on car insurance ♪ty m chief! doug. (inaudible sounds) ooooo ah. (elevator doors opening) (inaudible sounds) i thought you were right behind me.
rivian losing a fortune. lucid's stock is down 95%. rivian's stock is down 92%. nobody wants these turkeys. even tesla laying off 10% of its global workforce and yet the bidens keep jamming this down our throats and spending a bloody fortune. give yous lass word, senator, on evs, pardon the phrase? >> all of the manufacturers want to move to these hybrid vehicles and get away from electric vehicles only. they don't work in the snow. they don't work in the cold. they don't work at...
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kristina partsinevelos >>> still ahead, charging high rivian, lucid and charge are surging. what it can mean for the ev makers' bottom lines in the long run. "closing bell" is coming right back hey you, with the small business... ...whoa... you've got all kinds of bright ideas, \ constant contact makes it easy. with everything from managing your social posts, and events, to email and sms marketing. constant contact delivers all the tools you need to help your business grow. get started today at constantcontact.com constant contact. helping the small stand tall. when it comes to investing, we live in uncertain times. some assets can evaporate at the click of a button. others can deflate with a single policy change. savvy investors know that gold has stood the test of time as a reliable real asset. so how do you invest in gold? sandstorm gold royalties is a publicly traded company offering a diversified portfolio of mining royalties in one simple investment. learn more about a brighter way to invest in gold at sandstormgold.com. ♪exciting music.♪ [mud splat.] [bird squawk.
kristina partsinevelos >>> still ahead, charging high rivian, lucid and charge are surging. what it can mean for the ev makers' bottom lines in the long run. "closing bell" is coming right back hey you, with the small business... ...whoa... you've got all kinds of bright ideas, \ constant contact makes it easy. with everything from managing your social posts, and events, to email and sms marketing. constant contact delivers all the tools you need to help your business grow....
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so companies like rivian florida pmw. they have no one to contact and on top of it, any construction was going on with cities. they have no one to and this is a huge it was going to be point in 740 million dollars in profit basically the the nation's gas station for evs. and now you must just took turn. and it's it's is what people on my side of wall street are saying. biden gave a big chunk of the 7 half billion dollars infrastructure to elon musk's tesla helped build these out tesla for their part. they're saying we're going to build slower. i'm going to make sure that the ones that are operating efficiency fisherman 100% so. i just don't get it's like getting a big part of your business, it's light crime saying we're not going to sports ever again. likely what, it's a weird turn. interesting. okay. >> well, well, we'll have to wait and see what the fallout of that is. and then lastly, let's talk real quick with the time we have left the what's this headline? 21 billion dollar influencer industry has ad fraud problem. w
so companies like rivian florida pmw. they have no one to contact and on top of it, any construction was going on with cities. they have no one to and this is a huge it was going to be point in 740 million dollars in profit basically the the nation's gas station for evs. and now you must just took turn. and it's it's is what people on my side of wall street are saying. biden gave a big chunk of the 7 half billion dollars infrastructure to elon musk's tesla helped build these out tesla for their...
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May 10, 2024
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google and electric car maker rivian automotive are reportedly getting ready to make cuts. the mercury news obtained filings with the state edd, showing both tech companies plan to lay off dozens of workers next month. google is trimming 57 jobs in san francisco. that's on top of google's recent decision to cut 50 jobs in sunnyvale. rivian intends to cut 29 jobs in palo alto. it's also reducing staff in southern california. opinions of the housing market are at all time lows. a national gallup survey says 79% of people think that this is a bad time to buy a house. that's the worst perception in the survey's history, and it's slightly lower than last year. optimism about home buying first began to trend down in 2003. researchers say all the pessimism is based on record high prices, limited supply and high mortgage rates. take a live look now at the new york stock exchange as trading gets underway this morning. there it is. we're up about 160 points. miss janet jackson getting a special gift on her birthday. >> her life and her music are being celebrated in a new comic book.
google and electric car maker rivian automotive are reportedly getting ready to make cuts. the mercury news obtained filings with the state edd, showing both tech companies plan to lay off dozens of workers next month. google is trimming 57 jobs in san francisco. that's on top of google's recent decision to cut 50 jobs in sunnyvale. rivian intends to cut 29 jobs in palo alto. it's also reducing staff in southern california. opinions of the housing market are at all time lows. a national gallup...
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May 8, 2024
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the rivian call. i was ready to go to georgia for the big plant. they're normalizing. meaning, their going to be building that plant in normal. they got an illinois deal. but just to complete the thought about self-driving, i was in a very exciting pre-self-drive cruise with the head of cruise >> i remember. >> and within a month, the head of cruise was -- left the firm, and they shut down cruise. and so, i just think, you know, carl, it's really -- you should buy a stock because the numbers are good, and you should sell a stock because the numbers are bad, okay? i'm just that. i'm not a big thinker. i'm a thinker about the forecast is the forecast, as frank slootman said on "mad money," and you know what? i sat there, and i said to myself, you know what? the forecast is the forecast and it wasn't the justice department i would like it to be big things sometimes i like to sit back and think, you know what what would it be like to live on mars but that's not what it's about it's about the forecast. >> david bowie can tell you what that's like. >> we're going to speak to
the rivian call. i was ready to go to georgia for the big plant. they're normalizing. meaning, their going to be building that plant in normal. they got an illinois deal. but just to complete the thought about self-driving, i was in a very exciting pre-self-drive cruise with the head of cruise >> i remember. >> and within a month, the head of cruise was -- left the firm, and they shut down cruise. and so, i just think, you know, carl, it's really -- you should buy a stock because...
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May 1, 2024
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program to allow any kind of electric car to charge at a tesla charging station, executives at ford and rivian and gm say they're flabbergasted . stunned they were in the middle of working out all the details on the big switchover with their counterparts at tesla, but as of today, they don't work at tesla. tesla hasn't commented. well, are you familiar with liquid death? it's just water. it's canned water, but it's a huge brand. it's a best seller among young people. this week on our podcast, sand hill road, i speak with the investor behind liquid death, mike jones, who's also the money behind dollar shave club, another big hit with the 20 somethings. recently, his firm was approached by people representing a religious app, asking for help reaching that very same young demographic in faith. there's a lot of fans right? just to be honest. like, you know, jesus has a lot of followers. they're very passionate fan group, and so they came to us and said, look, we think churches are struggling. we think the small church may or may not be around, you know, in the future. so we'll talk about all kinds
program to allow any kind of electric car to charge at a tesla charging station, executives at ford and rivian and gm say they're flabbergasted . stunned they were in the middle of working out all the details on the big switchover with their counterparts at tesla, but as of today, they don't work at tesla. tesla hasn't commented. well, are you familiar with liquid death? it's just water. it's canned water, but it's a huge brand. it's a best seller among young people. this week on our podcast,...
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May 1, 2024
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last night when news of this broke was executives at rivian, one of the companies moving to the tesla system, confused and concerned by this development. we are heading into summer in the u.s. which is the peak driving period. it looks like the major contact points for the other automakers, they have lost those at tesla. so there is going to be some uncertainty about how this all plays out now. tom: ok. peter vercoe on what seems to be another very consequential decision by the ceo of tesla, elon musk. coming up, questions linger over the resumption over cease fire talks as israel awaits a hamas response. that conversation is next. this is bloomberg. ♪ tom: welcome back to bloomberg daybreak: europe. israel will not join cease fire talks unless hamas response to the latest proposal for a temporary truce and hostage release, according to the country's state run news. for more, our news director rosa manson joins us. israel has presented a proposal as being extremely generous. when do we expect the hamas response? >> it may come as soon later today. israel says the talks are being med
last night when news of this broke was executives at rivian, one of the companies moving to the tesla system, confused and concerned by this development. we are heading into summer in the u.s. which is the peak driving period. it looks like the major contact points for the other automakers, they have lost those at tesla. so there is going to be some uncertainty about how this all plays out now. tom: ok. peter vercoe on what seems to be another very consequential decision by the ceo of tesla,...
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May 8, 2024
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that doesn't mean the rivian results have let up. we have numbers from dozens of companies including the firm airbnb, arm, and uber. we have more on what we should be expecting from two of those names. >> this is only the third quarter going public yet they're bullish on arm ahead of earnings out tonight. arm earned its stripes, providing blueprints for its cpu. but over the past six years the chip designer has expanded the company makes money from royalties and licenses shares have dropped double digits in the last month but are still outperforming the stocks that's on a year-to-date basis, and it's on the notion that arm will benefit from this giant ai push, especially as compete increases. so look out for any new comments from arm about apple using this new ai architecture. the second thing is the smartphone recovery should be the driver given that arm gets about 25% of its revenues. however, china does remain a risk last quarter arm contributed a total of revenues and they could have an impact on outseitzed results. >> oober shar
that doesn't mean the rivian results have let up. we have numbers from dozens of companies including the firm airbnb, arm, and uber. we have more on what we should be expecting from two of those names. >> this is only the third quarter going public yet they're bullish on arm ahead of earnings out tonight. arm earned its stripes, providing blueprints for its cpu. but over the past six years the chip designer has expanded the company makes money from royalties and licenses shares have...
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May 9, 2024
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want to turn back to the u.s when it comes to ev adoption, we see enterprise adoption with amazon and rivian and u.p.s. and rival companies. why don't we see more adoption ford sold some to the post office why aren't we seeing more of that with the kch companies as opposed to consumers >> there is an interesting case that is being made for commercial not just when you talk about cars or delivery advance, but those semi trucks as you see tesla getting into that area with their semi. one issue here is batteries. you need a lot of batteries in order to haul all of this. that is a potential, but it is a slow adoption for all buyers out there. >> tim, here is a big question where are we with price pressure with he evs? is there more of a race to the bottom here or have we reached the bottom with the pricing on the evs? >> byd is an impressive company on what it has been able to do on pricing part of the reason why musk seems to be signaling he doesn't want to get into a race on cost with his next generation evs and why he is focusing more on developing or putting exicitemet on autonomous car with
want to turn back to the u.s when it comes to ev adoption, we see enterprise adoption with amazon and rivian and u.p.s. and rival companies. why don't we see more adoption ford sold some to the post office why aren't we seeing more of that with the kch companies as opposed to consumers >> there is an interesting case that is being made for commercial not just when you talk about cars or delivery advance, but those semi trucks as you see tesla getting into that area with their semi. one...
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rivian is down and said it lost nearly $39,000 per vehicle delivered in the first quarter, but reaffirmed its 2024 production forecast up 57,000 vehicles and that's below 62,000 and net and net stock is well below the low. shopify is falling dramatically, 19%. the online shopping infrastructure platform got hit hard by fears that grand theft over the shaky consumer and his and her spending. shopify president charlie tinkle seen is here and he's up next and platforms starting a business easier and great and finding money to open your first store front, that can be a slimy business. it's not necessarily a bad thing if you're caring about getting hooked by playing with slime that a friend's child gave her. from that one experience where she had so much fun and found it so calming, karen slided to launch the sloomoo institute and one store in new york city. it's an immersive experience issue space where kids and a dults playing with 60 different kinds of administer advertisal slime -- artisanal slime with unicorn drop and tinker drops and they're opening one in la this fall. her million dolla
rivian is down and said it lost nearly $39,000 per vehicle delivered in the first quarter, but reaffirmed its 2024 production forecast up 57,000 vehicles and that's below 62,000 and net and net stock is well below the low. shopify is falling dramatically, 19%. the online shopping infrastructure platform got hit hard by fears that grand theft over the shaky consumer and his and her spending. shopify president charlie tinkle seen is here and he's up next and platforms starting a business easier...
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May 8, 2024
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. >> let's get you a quick check on rivian shares lower in the premarket by 6.7%. the ev makers earnings but it still stuck by its plan to build vehicles this year. rivian had warned investors it would shut down its illinois assembly lines in order to make upgrades and reduce -- produce a lower cost model. analysts say investor questions will remain until rivian shows proof of execution and demand. read it shares for their part surging premarket up 14 and the third. they posted better-than-expected results in their first quarter. revenue increased far surpassing analyst estimates. the growth was thanks to investments making things easier to use and improvements in its ad targeting technology. shares are slightly lower since the trading debut in march. panera bread is no longer selling its caffeinated charged sip strengths. they included an ultra caffeinated lemonade and some other fruit drinks were the subject of at least three lawsuits claiming the people who drank them were harmed or even killed. the drink set up to 390 milligrams of caffeine per 30 ounces. about
. >> let's get you a quick check on rivian shares lower in the premarket by 6.7%. the ev makers earnings but it still stuck by its plan to build vehicles this year. rivian had warned investors it would shut down its illinois assembly lines in order to make upgrades and reduce -- produce a lower cost model. analysts say investor questions will remain until rivian shows proof of execution and demand. read it shares for their part surging premarket up 14 and the third. they posted...
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May 7, 2024
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>> there's not a lot of buzz around the headset and the car, they might be doing a partnership with rivian. this feels like an afterthought. >> project titan is no more. they threw in the towel. this rivan headline, i'm skeptical for a number of reasons. the outlet it's coming from typically gets apple things wrong. assume they're right, what's more likely is rivan doesn't have car play. that's really all apple has to offer them right now i wouldn't expect a rivan robotaxi it seems like they're over that right now. >> disney with a 10% drop in the stock this morning what ails it >> really good numbers for the second quarter they just announced. the guidance for the third quarter abysmal, mostly on parks and losses a 5$500 million loss which is going to take their streamers straight into the red again. we think the stock move is overdone guidance was weak for q3 >> it's an uphill climb in the streaming business thank you all. >>> still to come, peloton shares are spiking on a cnbc report that private equity is showing some interest in buying the beleaguered fitness company. they ignored you
>> there's not a lot of buzz around the headset and the car, they might be doing a partnership with rivian. this feels like an afterthought. >> project titan is no more. they threw in the towel. this rivan headline, i'm skeptical for a number of reasons. the outlet it's coming from typically gets apple things wrong. assume they're right, what's more likely is rivan doesn't have car play. that's really all apple has to offer them right now i wouldn't expect a rivan robotaxi it seems...
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May 8, 2024
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two of the largest and most prominent, rivian and lucid, reported wider than expected losses followed by double-digit drops in their share prices. bloomberg intelligence says bankruptcies in the sector may start to pick up as a price war squeezes unprofitable companies. haidi: let's take a look at how we are setting up when it comes to trading about to get underway in about 25 minutes in sydney across tokyo and seoul as well could looking like a mixed picture given we had a flat session ending for wall street overnight. s&p futures when it comes to sydney off by about a quarter of 1%. kiwi stocks off of session lows. singapore traded nikkei futures are in positive territory at the moment. s&p futures still looking pretty muted. the south korean president will hold his first news conference in about two years today as he tries to set a new course for his conservative government. he has pledged to overhaul his administration after a stinging defeat last month. let's bring in our east asia government editor jon herskovitz. what are we expecting today? jon: we're expecting him to lay out
two of the largest and most prominent, rivian and lucid, reported wider than expected losses followed by double-digit drops in their share prices. bloomberg intelligence says bankruptcies in the sector may start to pick up as a price war squeezes unprofitable companies. haidi: let's take a look at how we are setting up when it comes to trading about to get underway in about 25 minutes in sydney across tokyo and seoul as well could looking like a mixed picture given we had a flat session ending...
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only money that biden's to spend, he wants to spend, manufactur manufactures losing a fortune, and rivian stock down 92ers in. %, nobody wants the turkeys, tesla laying off 10% of global workforce, yet bidens keep jamming it down our throats. the last word on electric vehicles. >> they all of manufacturers want to move to the hybrid vehicles, get away from all electric. they don't work in the snow, they don't work in cold, they don't work in elevation, they don't work where you can't get charged that is most of the middle of the nation, biden administration against saying what to do. and not listening to the consumer it is ridiculous. larry: sorry i'm up against a hard break and you senator lummis we appreciate you coming on. >> i'll be right back with the last word. body to relieve pain right where it hurts. and did we mention, it really, really sticks? salonpas, it's good medicine. we're talking about cashbackin. not a game! we're talking about cashbacking. we're talking about... we're not talking about practice? no... cashbacking. word. we're talking about cashbacking. cashbacking. cas
only money that biden's to spend, he wants to spend, manufactur manufactures losing a fortune, and rivian stock down 92ers in. %, nobody wants the turkeys, tesla laying off 10% of global workforce, yet bidens keep jamming it down our throats. the last word on electric vehicles. >> they all of manufacturers want to move to the hybrid vehicles, get away from all electric. they don't work in the snow, they don't work in cold, they don't work in elevation, they don't work where you can't get...
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May 3, 2024
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rivian is receiving incentives, $827 million to expand in illinois. the company has also tapped the former coo of volvo cars to be its coo as it prepares to roll out that lower-cost model. coming up, we are going to be joined by conboy's jason chapman to talk about the outlook for the videogames landscape. this is "bloomberg technology." ♪ ed: you are looking at a live shot of the principal room. we are a week out from bloomberg technology's live event in san francisco. check out the qr code for all of the details you need, and join us next week. this is bloomberg. after a year of speculation, it is finally here. jp morgan's index gpt tool. index gpt is a new range of investment baskets created with the help of openai's gpt-4 model. it includes a list of keywords associated with the theme that are set into a separate natural --natural language processing model which scans articles to identify companies involved in specific spaces. it has been a hard week for the videogames industry. amd told us on tuesday demand for chips powering game consoles and
rivian is receiving incentives, $827 million to expand in illinois. the company has also tapped the former coo of volvo cars to be its coo as it prepares to roll out that lower-cost model. coming up, we are going to be joined by conboy's jason chapman to talk about the outlook for the videogames landscape. this is "bloomberg technology." ♪ ed: you are looking at a live shot of the principal room. we are a week out from bloomberg technology's live event in san francisco. check out...
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May 8, 2024
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it's a stephanie link name we'll talk to her about that in the days ahead rivian is a loser today. as is align technology it's the third day in a row. so you carrie sold this. when did you sell it and why did you do so? >> we really sold it because the stock had been very strong it was a big part of the portfolio and we were really starting to worry about china. and that has been weighing on it since. the business had a huge booster in covid a lot of people got their liners in to fix their teeth. then business came off and china really shut down for them and the customers in the u.s. have not come back as strongly as expected. china hasn't come back, and there is more competition and people keep waiting for the earnings to start to run through that and it hasn't yet. >> you just got rid of it too in the rebalance, right >> yes at the end of april we sold out of it. the momentum clearly broken on any measurement that you want to look at three months, six months, nine months, twelve months >> okay. final trades are next. ♪ ♪ welcome to the roots of our legacy. where excellence, c
it's a stephanie link name we'll talk to her about that in the days ahead rivian is a loser today. as is align technology it's the third day in a row. so you carrie sold this. when did you sell it and why did you do so? >> we really sold it because the stock had been very strong it was a big part of the portfolio and we were really starting to worry about china. and that has been weighing on it since. the business had a huge booster in covid a lot of people got their liners in to fix...
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May 14, 2024
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it could also be some of these more exciting names, rivian is 20% shorted as well. >> true. >> so there's a lot of shorts out there where people could get excited. >> all right. >> michael, thank you very much. we appreciate it. >>> kick check on the markets, dow up 110 points right now. as we head to break, we celebrate asian american native hawaiian and pacific islander heritage all month long. here is our own deirdre bosa. ♪ >>> foplation of asian american native hawaiians and pacific islanders is growing by double digits in nearly all 50 states. representing the fastest growing demographic in the u.s. the community's buying power currently equals $1.3 trillion. according to the congressional asian pacific american caucus, that's larger than the economies of all but 16 countries in the world. for aanhpi heritage month, i'm deirdre bosa. ♪ so this is pickleball? it's basically tennis for babies, but for adults. it should be called wiffle tennis. pickle! yeah, aw! whoo! ♪♪ these guys are intense. we got nothing to worry about. with e*trade from morgan stanley, we're ready for wha
it could also be some of these more exciting names, rivian is 20% shorted as well. >> true. >> so there's a lot of shorts out there where people could get excited. >> all right. >> michael, thank you very much. we appreciate it. >>> kick check on the markets, dow up 110 points right now. as we head to break, we celebrate asian american native hawaiian and pacific islander heritage all month long. here is our own deirdre bosa. ♪ >>> foplation of asian...
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May 3, 2024
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williams tonight, i believe, and next week earnings aren't going to stop necessarily -- disney and uber, rivian and others as well. >> a back seat on economic data until the week after we get cpi on the 15th. >> enjoy the weekend. let's get to the judge. >>> carl, thanks. welcome to "the halftime report." i'm scott wapner. front and center this hour, surging stocks following apple earnings and what might have been a perfect jobs report for the bulls and the fed. the investment committee debating that and the road ahead. joining me for the hour today, shannon saccocia, kevin simpson, and steve weiss. we're all at post 9. happy to see you guys. let's check the markets. we're green across the board. this surging stock market following yields, that's part of the story here. and what i suggest, weiss, really, i think, was a perfect jobs report for the bulls and for the fed. hourly earnings below estimates, unemployment rate rises slightly. yields fall. stocks surge. is it really any more complicated than that? >> it's not. and, you know what, i thought we had -- i wouldn't call it a perfect press co
williams tonight, i believe, and next week earnings aren't going to stop necessarily -- disney and uber, rivian and others as well. >> a back seat on economic data until the week after we get cpi on the 15th. >> enjoy the weekend. let's get to the judge. >>> carl, thanks. welcome to "the halftime report." i'm scott wapner. front and center this hour, surging stocks following apple earnings and what might have been a perfect jobs report for the bulls and the fed....
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May 22, 2024
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. >> i'm wondering what your thoughts on rivian, baby. >> okay, my wife wants to pie one. she looked at the stock price and said hey, are they going to be in business? they have a lot of money coming their way. but let's put it like that. all right, how about jackson in north carolina, jack? >> hey, how is it going? >> it's good. it's good. how are you? >> doing pretty good. doing pretty good. >> good. i wanted to be sure. >> sounds good. >> no problem. all right, so what do you think about the future of arm holdings? it wasn't the best. >> no, you're right. but jack, let's give, first of all the stock is up since the quarter. second, i will say this about renee, man. he gave you a good place for that underwriting that's going all the way up, and then gave back some. but they are here to stay. and that is maybe one of the highest growth companies. it's a lot better and all crazy about it. the part of the market that's consumer, today was where the fed won and that's two-thirds of the economy. and let's just hope they realize that they were replaced a month ago and may not
. >> i'm wondering what your thoughts on rivian, baby. >> okay, my wife wants to pie one. she looked at the stock price and said hey, are they going to be in business? they have a lot of money coming their way. but let's put it like that. all right, how about jackson in north carolina, jack? >> hey, how is it going? >> it's good. it's good. how are you? >> doing pretty good. doing pretty good. >> good. i wanted to be sure. >> sounds good. >> no...
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May 6, 2024
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rivian is the second player, distant second. >>> a lot more "fast money" to come. here's what's coming up next. >>> disney on the docket. the entertainment giant getting ready for a rare before the bell earnings report omorrow. can the company deliver some magic? we'll debate the big report. >>> plus, former starbucks ceo howard schultz for the coffee giant's new boss. will this roasting give shares the jolt of caffeine they need? we'll percolate on that, right after this. you're watching "fast money," live from the nasdaq market site in times square. we're back right after this. [crowd chanting] they ignored your potential, dissed your achievements, and mocked your ambition. but it's not the critic who counts, and you know that. from the beginning, you couldn't be stopped. ♪♪ breaking resistance with every swing and block. ♪♪ your game plan never changed. ♪♪ so enjoy this moment. ♪♪ the one they said you'd never live to see. ♪♪ some would still call it luck. ♪♪ let them. because you know what it's always been. inevitable. ♪♪ ♪♪ >> u
rivian is the second player, distant second. >>> a lot more "fast money" to come. here's what's coming up next. >>> disney on the docket. the entertainment giant getting ready for a rare before the bell earnings report omorrow. can the company deliver some magic? we'll debate the big report. >>> plus, former starbucks ceo howard schultz for the coffee giant's new boss. will this roasting give shares the jolt of caffeine they need? we'll percolate on that,...
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May 24, 2024
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ev company, we're talking about tesla, rivian, lucid, two are up and one under pressure and now all up for the day let's go through the stock specific modes here. you've got tesla, news out of china that the company is cutting its model y production, down about 26%, april versus march. not a huge surprise. we know about the pressure over there with pricing, when it comes to evs remember, also, that is a base shanghai where they export to other countries so you have ev pressure around the world and they're being judicious in terms of model y production. and when you look at liucid, it is announcing it is cutting 6% of the u.s. work force as it continues to wrestle with a soft ev mark. it put pressure on lucid, and reversed direction late in the day. and look at the chinese ev company, this is a case where you see the stocks moving up and down, and sometimes separate from what you see with the u.s. ev companies, related but separate, in terms of how they're trading lately, scott. >> appreciate it, phil thank you. phil lebeau. you saw cava that's because we are getting more bullish at lea
ev company, we're talking about tesla, rivian, lucid, two are up and one under pressure and now all up for the day let's go through the stock specific modes here. you've got tesla, news out of china that the company is cutting its model y production, down about 26%, april versus march. not a huge surprise. we know about the pressure over there with pricing, when it comes to evs remember, also, that is a base shanghai where they export to other countries so you have ev pressure around the world...
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May 1, 2024
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executives at ford and rivian and gm say they're absolutely flabbergasted. so stunned they say they were in the middle of working out all the details on the big switchover with people who, as of today, don't work at tesla and they don't know who to talk to. the blog, the information was the first to report on those cuts. tesla has not commented, and these come just a week after tesla laid off 14,000. the mercury news and a host of other newspapers are suing openai, saying the company violated their copyrights when they used newspaper articles to train the artificial intelligence, large language models need a lot of study, a lot of language, and they use newspapers, among other things, to do it. the new york times was the first to sue. we were just talking about this the other day that ai is running out of things to read, but it can't get smarter if it's already read everything, which is why companies are turning to things like youtube videos and podcasts. facebook thought about buying the publishers simon and schuster, just so its computers could read all th
executives at ford and rivian and gm say they're absolutely flabbergasted. so stunned they say they were in the middle of working out all the details on the big switchover with people who, as of today, don't work at tesla and they don't know who to talk to. the blog, the information was the first to report on those cuts. tesla has not commented, and these come just a week after tesla laid off 14,000. the mercury news and a host of other newspapers are suing openai, saying the company violated...
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May 1, 2024
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lisa: we know that rivian, ford, gm, they are angry. they are not please, they are adapting technology to adhere to these chargers. how much does elon musk hold the keys to the entire electric vehicle option and if he does, is he flipping off the industry? annmarie: reading into the statements from these companies, they were blindsided. this was a huge win for tesla, they were coming onto their charging networks. you have to think about what elon musk said, we need to be hard-core about headcount and cost-reduction, so this is hard-core. jonathan: volvo, kia, honda, mercedes, europe, asia, take your pick. reading between the lines, i wonder if there is a little dear white house, dear other sauce. come on board if you want us to hire more people, we can help but we will need a little bit more. lisa: especially given that they are trying to get the nod from gees and paying, saying they won't provide the infrastructure unless. it's not a coincidence that both of these things happened. jonathan: i did wonder that when i saw the story. anton
lisa: we know that rivian, ford, gm, they are angry. they are not please, they are adapting technology to adhere to these chargers. how much does elon musk hold the keys to the entire electric vehicle option and if he does, is he flipping off the industry? annmarie: reading into the statements from these companies, they were blindsided. this was a huge win for tesla, they were coming onto their charging networks. you have to think about what elon musk said, we need to be hard-core about...