CVS, Lucid, Southwest Airways, Boeing, GameStop and extra

People walk past a CVS pharmacy store in the Manhattan neighborhood of New York City.

Shannon Stapleton | Reuters

Check out the companies that are making headlines in midday trading.

CVS The drugstore chain’s shares rose 3.8%, hitting a 52-week high, after the company said Sales will accelerate in the coming year. CVS will introduce new health services and pool its drugstore and insurance businesses.

Hormel foods – Hormel’s shares rose 5.7% after the food maker beat quarterly earnings estimates. The company posted earnings of 51 cents per share for the quarter, one cent above Refinitiv’s consensus forecast. Sales also exceeded Wall Street’s expectations.

RH Home furnishings retailer RH rose 9.6% after reporting above-average profits and revenues that exceeded forecasts. The company also raised the lower end of its sales forecast. Guggenheim also reiterated the share as the best idea say the “catalyst path remains intact”.

Rent the runway – Shares in the fashion rental platform fell by 3.5% in midday trading Losses widened in the third quartereven though sales are up 66% year over year. Amid investor concerns, Rent the Runway has not yet made a profit and the number of active subscribers has not recovered to pre-pandemic levels.

GameStop – The video game retailer saw shares fall more than 6% after the company reported losses that widened in the third fiscal quarter. The company announced that its net loss rose to $ 105.4 million, or $ 1.39 per share, from a loss of $ 18.8 million, or 29 cents per share, last year. The stock, which was once at the center of the meme stock mania, is still up more than 760% this year.

Clear group The electric vehicle startup’s shares rose more than 12% a day after the company announced a proposal $ 1.75 billion convertible bond. Lucid also recently announced that it has a Subpoena from the Securities and Exchange Commission “Requirement for certain documents to be presented in connection with an investigation.”

American Airlines, Boeing American Airlines shares were down nearly 1% after the company said it was Reduction of the flight plan next summer, because it is waiting for Boeing to deliver its 787 Dreamliners. Boeing also plans to compensate the airline. Boeing’s shares plummeted 1.7%.

Southwest Airlines – Southwest stocks fell. more than 3% after Jefferies has downgraded the airline’s stock, citing the persistent inflation that weighs on profitability. Jefferies lowered his rating on Southwest to keep buying and also cut his price target on the stock from $ 60 per share to $ 45 per share.

EVgo – EVgo shares rose 7.1% JPMorgan initiated reporting of the operator of fast charging services for overweight electric vehicles. “We expect the company to achieve above-average sales growth through rapidly increasing fleet acceptance and higher utilization,” noted JPMorgan.

Pfizer – Pfizer shares gained 2% Wells Fargo has started reporting of the stock with an overweight rating. The company said Pfizer’s Covid treatments were in place and could continue to grow the company’s sales in the years to come.

Sun run, Sunnova Solar company stocks plummeted despite JPMorgan naming stocks the top picks for the next year. Sunrun lost 3.8% while Sunnova lost 1.7%.

Solid strength – Shares in battery cell maker Solid Power for electric vehicles rose 6.4% at noon. The enterprise debuted on the Nasdaq Thursday morning after completing a transaction with a special acquisition company. Solid Power’s investors include Ford and BMW.

– CNBC’s Yun Li, Maggie Fitzgerald and Tanaya Macheel contributed to the coverage.

Goal, Rivian, Lucid, TJX, Visa and extra

A shopping cart is seen in a Target store in the Brooklyn neighborhood of New York, United States, on November 14, 2017.

Brendan McDermid | Reuters

Check out the companies that are making headlines in midday trading.

target – The retail giant saw its shares fall 4.7% despite the release Beats on the top and bottom lines. CEO Brian Cornell increasing costs noted Have an impact on the company as it plans to pay these costs instead of passing them on to the customer.

Visa The card giant’s shares fell 4.7% after reports that Amazon will stop accepting payments with UK-issued Visa credit cards starting next year. This change came shortly after Visa increased its interbank fees on transactions between the UK and the European Union. Mastercard, which has also increased its interbank fees between the UK and the EU, fell 4.5% with Visa.

Lowes – Shares in the hardware store trader rose 0.4% after a better than expected quarterly report. Lowe’s exceeded analysts’ expectations for fiscal third quarter results as the company saw a surge in home improvement and online sales. The company also raised its forecast for 2021, forecasting sales of $ 95 billion versus $ 92 billion.

Tesla – Tesla remained wary of the big price moves recently after CEO Elon Musk sold stocks last week. Electric vehicle shares rose 3.3% on Wednesday.

Rivian – Rivian fell 15.1% in its first lost session since the electric vehicle manufacturer went public last Wednesday. The company quickly overtook traditional automakers like ford and GM Market value since the IPO.

Clear group – Electric vehicle stock slipped 5.4% on Wednesday after rising nearly 24% on Tuesday. Morgan Stanley reiterated its underweight position in Lucid, says there are better EV games out there.

Baidu Baidu shares fell 5.5% even after the China-based e-commerce firm beat sales estimates for the last quarter. Baidu said it benefited from stronger ad sales as well as strength in cloud and artificial intelligence products.

Pfizer, BioNTech Stocks of Covid vaccine makers won after the New York Times reported the FDA will approve the Pfizer / BioNTech Covid-19 booster dose for all adults as early as Thursday. BioNTech gained 5.4% while Pfizer gained 2.6%.

year – Roku shares fell 11.3% after the stock downgraded from “neutral” to “sell” at MoffettNathanson. The company cited signs of slowing revenue growth for the streaming company.

TJX – TJX shares rose 5.8% after the clothing and home retailer reported quarterly gains in sales and earnings. Revenues in the same business also increased 14% in fiscal 2020 compared to the same period.

Activision Blizzard – Activision BIizzard shares fell 2.9% after a group of shareholders called for CEO Bobby Kotick to step down Washington Post reported. The letter comes after a Wall Street Journal report that the alleged Kotick had known of allegations of sexual misconduct in the company for years.

– CNBC’s Yun Li and Tanaya Macheel contributed to the coverage

Shares of EV start-up Lucid soar on new reservations, 2022 manufacturing

Electric vehicle startup Lucid announced on September 28, 2021 that it had started producing its first cars for customers at its facility in Casa Grande, Arizona.


Shares in Clear group rose more than 5% during after-hours trading before even pulling back to around after the first quarterly results were released as a publicly traded company.

The electric vehicle startup announced a sharp spike in vehicle reservations and confirmed its production target for next year, while reporting a net loss of $ 524.4 million in the third quarter.

Lucid, which went public in July via a SPAC deal, reported that it lost $ 1.5 billion in the first nine months of the year.

The company announced Monday that it had more than 17,000 reservations for its Air sedan, up from 13,000 in the third quarter. Reservations through September represented a backlog of $ 1.3 billion, the company said.

Lucid also confirmed its production target of 20,000 vehicles for the next year, but said there are still hurdles to reaching those plans.

“We remain confident of reaching 20,000 units in 2022,” said Lucid CEO Peter Rawlinson in a press release. “Given the ongoing challenges for the automotive industry with global disruptions in supply chains and logistics, this goal is not without risk.”

Rawlinson said the automaker is taking steps to ease the hurdles in the supply chain and continues to plan to bring lower-cost versions of Lucid Air to market by 2022.

The automaker’s third-quarter revenue was $ 232,000, mostly from a battery deal with the Formula E electric racing league, Lucid CFO Sherry House told Wall Street analysts on Monday during a call. She said the company will begin collecting vehicle sales revenue and reporting details of the sales in the fourth quarter.

Shares closed at $ 44.88 per share, up 2.2%. The stock price remained below its 52-week high of nearly $ 65 per share in February when it was reported that Lucid was close to a deal with blank check firm Churchill Capital IV Corp. stood to go public.

Read more about electric vehicles from CNBC Pro

Lucid’s shares are up more than 80% since the company’s IPO through a reverse merger with Churchill in July. The largest daily increase of 31% came late last month when the company confirmed customer deliveries the Lucid Air Dream Edition were at the beginning.

“I feel great about our stock price,” House told CNBC during a telephone interview. “The start we had, where it is today, and also the growth path that, frankly, lies ahead of us. I see that we are seen as a technology company with a platform that can be expanded across many vehicle variants “and sustainable technology.”

Rawlinson repeated these remarks: “I think what happens in our stock value reflects our status as a technology company more than an automotive company.”

The fully electric Air sedan was named Car of the Year by MotorTrend on Monday, a coveted award in the automotive industry. It is the first time that a new automotive company’s first product has received the award, the publication said.

In total, Lucid has announced that it will deliver 520 customer-configured ones Lucid Air Dream Editions, followed by the production of cheaper models. Lucid announced to investors in July that according to an investor presentation, 20,000 Lucid Air sedans will be produced in 2022, with sales of more than $ 2.2 billion.

The Dream Edition is a special edition of their flagship sedan for $ 169,000 with an industry-leading range of up to 520 miles, according to the EPA. Prices for an entry-level version of the car, the Lucid Air sedan, start at $ 77,400 before a federal tax credit of up to $ 7,500 for plug-in vehicles.

Lucid is one of a handful of EV startups that went public through deals with SPAC companies since last year. But unlike many of his SPAC colleagues, Lucid actually generates revenue and produces vehicles. Also, unlike others, it has so far avoided any federal investigation into potentially misleading statements made to investors, such as: Nikola, Lordstown Motors and canoe.

300 Leisure Indicators Ambar Lucid

In the meantime, Lucid hadn’t planned on signing a record deal. “When I was younger, I definitely had a more vicious perception of labels,” she says. “But when I started meeting people and talking to people in the industry, I realized that there are a lot of amazing people out there who actually care about artists and just want to see them thrive.”

When she met members of the 300 team in late 2020, “I heard how much they wanted to work with me and how passionate they were for my music,” she says. When the time came to decide whether to sign the label, she turned to her trusted tarot cards.

“My tarot cards told me that the group of people associated with this label were ready to listen to me and that my experience would be based on really expressing my needs and what I wanted,” she says. That gut feeling was confirmed when she finally met the team at 300 co-founders and CEOs last weekend Kevin Liles‘House where they celebrated with cake.

At 300 years old just being named on INC Magazine’s list of the best places to work in the US for 2021, Lucid is joining a list that includes the following Megan Thee stallion, Young thug and Gunna.

“Ambar joins a team of risk takers,” says Liles. “Independence is in our DNA. We have a clear vision of how we can support and nurture Ambar as she continues her musical journey. She has the freedom to be a creative artist with a family who can support her every step of the way supported. “

The signing is also a moment of affirmation for Lucid, who was once said that she would never succeed with bilingual music. “I’m thinking about where I could have gone if I’d followed this terrible advice,” she says. “My job is to make sure I reach out to children and tell them, ‘Don’t believe someone who tries to restrict you and put you in a box.'”

She does just that with Get Lost in the Music, her optimistic newcomer track out today, inspired by an experience of hiking with psychedelic mushrooms. The song explores her journey to self-acceptance, a topic she will explore further on her upcoming EP on June 18th.

“The songs on this EP represent a version of me where I’m proud to be who I am and I validate my experiences for who they are without being ashamed,” says Lucid. “I do not apologize.”

Listen to the new title below and wait for the music video to be released later that afternoon.

Lucid Voyage Provides the Finest in Throwback Fashion

As a teenager, Veronica Hood asked her mother for a sewing machine so she could make her own outfits for class. After graduating from high school, the Indiana native followed her love of clothing to New York, where she worked for Miu Miu and Prada in Manhattan showrooms and also designed photo shoots. But it wasn’t until she completed a 2013 summer program at the Fashion Institute of Technology on sustainable fashion that she changed her thinking about the fashion world. “I [realized] How much waste the fast fashion industry produces and how bad it is for the environment, and I started to think that sustainable fashion is the way of the future because it has to be, ”she says. Hood moved to Austin in 2017 and officially opened the Lucid Voyage Boutique online store last April. She curates her collection of brightly colored clothing and accessories like a 1970s floral print wrap dress, 1980s peacock angora sweater, and 1990s champagne jacket from a mix of real estate sales, eBay from the US and Japan, and some friends’ excess inventory from vintage dealers. Each month, Hood gathers a team of local photographers, models, hairdressers, and makeup artists to create a lookbook of the clothes (like this picture, pictured, for Black History Month in February). Buy your finds from

Electrical automobile agency Lucid Motors to go public in $11.eight billion blank-check merger

The Lucid Air sedan, which is slated to go into production at a facility in Arizona next year.


Electric vehicle company Lucid Motors plans to go public with a combined stock valuation of $ 11.75 billion and a pro forma stock value of $ 24 billion through a reverse merger with a blank check company founded by veteran investment banker Michael Klein.

The deal between Lucid of Newark, California and Churchill Capital Corp IV is the largest in a series of such amalgamations involving EV companies and blank check companies, also known as Special Purpose Acquisition Companies (SPACs).

Previous SPAC dealt with EV startups like Nikola, Fisker and Lordstown Motors scored less than $ 4 billion in pro forma valuations, but Lucid is ahead of these companies. Lucid will deliver its first vehicle – a Luxury sedan called Air – this spring.

The deal will generate approximately $ 4.4 billion in cash for expansion plans for Lucid, including the current Arizona factory.

Shares of CCIV fell around 30% to $ 40 in expanded trading.

Lucid is run by ex-Tesla Technical director and automotive veteran Peter Rawlinson, who joined the company in 2013 as Chief Technology Officer before adding CEO to his duties in April 2019. He will continue to assume these roles after the business is expected to close in the second quarter, according to the companies.

Lucid was founded in 2007 as Atieva, a name it now uses for its technical and engineering division that supplies batteries for the Formula E electric circuit. The company initially focused on electric battery technology before changing its name to an electric vehicle manufacturer in 2016, three years after Rawlinson joined the company to lead technology development.

Lucid struggled with some difficulty raising capital to fund his plans until he received $ 1 billion from the Saudi Arabian sovereign wealth fund in September 2018.

Rawlinson described SPAC deals last year as easy money, but not enough capital to get a vehicle into production, which companies like Fisker To seek contract manufacturers.

Prior to the announcement at Klein’s company, Rawlinson said the company had the funds to begin producing the air at a facility in Casa Grande, Arizona, southeast of Phoenix.

The new funding is intended to support Lucid in its expansion plans. Rawlinson expects the Air to be the catalyst for a number of future all-electric vehicles, including an SUV starting production in early 2023, and cheaper vehicles across the board.

Lucid currently employs almost 2,000 people. The US is expected to employ 3,000 people domestically by the end of 2022.

The deal includes a total investment of around $ 4.6 billion. It is funded with $ 2.1 billion in cash from CCIV and a fully committed PIPE of $ 2.5 billion at $ 15 per share from the Saudi Arabian state fund, as well as funds and accounts held by BlackRock, Fidelity and managed by others.