ADVFN US – Market Content Editor
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USA Rare Earth Completes $1.55 Billion SPV Funding for Serra Verde Offtake
USA Rare Earth, Inc. (NASDAQ:USAR) has completed the $1.55 billion capitalisation of a special purpose vehicle established to acquire 100% of Phase 1 rare earth production from Serra Verde Group, marking a key step towards completing its planned acquisition of the business. The financing includes a $750 million commitment from the U.S. Department of War,…
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XPeng Shares Fall After Q2 Miss as Robotics Unit Raises More Than $900 Million
XPeng (NYSE:XPEV) shares moved lower in U.S. pre-market trading on Monday after the Chinese electric vehicle manufacturer reported second-quarter revenue and earnings below analyst expectations. The company also announced a major financing round for its robotics division, valuing the business at more than $6.3 billion. XPeng reported a second-quarter loss of RMB1.29 per share, considerably…
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PDD Holdings Shares Rise After Second-Quarter Earnings Beat
PDD Holdings Inc. (NASDAQ:PDD) shares gained 1% in pre-market trading after the e-commerce group reported second-quarter earnings that topped analyst expectations, although revenue came in slightly below forecasts. The company posted adjusted earnings per ADS of RMB19.33 ($2.85), ahead of the RMB18.35 consensus estimate. Revenue increased 8% year on year to RMB112.4 billion ($16.6 billion),…
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Exxon Expands Automated Drilling in Permian to Boost Oil Production
ExxonMobil (NYSE:XOM) is stepping up its use of automated drilling technology in the Permian Basin as the U.S. energy major seeks to improve safety, accelerate well development and support a substantial increase in oil production. At automated rigs in West Texas, robotic equipment is increasingly taking over tasks traditionally performed by workers on the drilling…
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Birkenstock Shares Rebound as Investors Reassess Valuation
Birkenstock stock (NYSE:BIRK) jumped 6.6% in pre-market trading, staging a strong recovery from levels close to its 52-week low as investors reconsidered the footwear company’s valuation following heavy selling earlier in August. Rather than being triggered by a single new announcement, the latest advance appears to reflect renewed attention on Birkenstock’s underlying financial performance. The…
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Eli Lilly Launches Foundayo Weight-Loss Pill in UK
Eli Lilly (NYSE:LLY) has launched its oral weight-management and type 2 diabetes treatment Foundayo in the UK, making Britain the first European market where the drug is commercially available, the company said on Monday. Foundayo, chemically known as orforglipron, will initially be available through private prescriptions after receiving authorisation from the UK’s medicines regulator on…
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Nvidia Reportedly Weighs Perplexity Investment at More Than $30 Billion Valuation
Nvidia (NASDAQ:NVDA) is reportedly holding talks about investing in artificial intelligence startup Perplexity through a new financing round that could value the company at more than $30 billion, according to The Information. The discussions centre on a funding round potentially worth several billion dollars, with Nvidia among the prospective investors, the report said, citing people…
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GE Vernova Launches Medium-Voltage Power System for AI Data Centers
GE Vernova Inc. (NYSE:GEV) has introduced a new medium-voltage uninterruptible power supply designed to meet the growing electricity requirements of data centers, artificial intelligence infrastructure and other power-intensive facilities. The new MV-UPS system moves power protection to the medium-voltage level, rather than relying primarily on the low-voltage protection traditionally used within data centers. GE Vernova…
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Jersey Mike’s Subs Shares Rise as Wall Street Launches Post-IPO Coverage
Jersey Mike’s Subs (NYSE:JMKE) shares gained 1.1% in pre-market trading to $24.13 as a wave of analyst coverage following the expiration of the company’s post-IPO quiet period generated fresh interest in the restaurant stock. The sandwich chain made its NYSE debut in late July, and several major brokerages have now initiated coverage with predominantly positive…
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Canada Goose Shares Slide After Wells Fargo Downgrade
Canada Goose (NYSE:GOOS) shares fell 5.5% in pre-market trading after Wells Fargo downgraded the luxury apparel company to “underweight” from “equal weight,” citing a series of structural challenges that could weigh on its near-term performance. The brokerage set a C$10.00 price target on the shares, adding further pressure to a stock that had already experienced…