markets

Max Knoblauch3/19/26

Uber will invest $1.25 billion in Rivian in a new robotaxi deal

EV maker Rivian surged more than 9% in premarket trading on Thursday following an announcement that Uber will invest up to $1.25 billion in the company through 2031 as part of a robotaxi partnership.

The deal will begin with an initial $300 million investment, and Uber will purchase 10,000 autonomous versions of the R2. Uber will have the option to buy 40,000 more in 2030.

The R2 is Rivian’s smaller, less expensive model and is set to roll out to buyers in the second quarter of this year.

Per a company filing on Thursday, Rivian “no longer expects to be adjusted EBITDA positive in 2027 due to an expected increase in R&D spend associated with the acceleration of its autonomy roadmap.”

Uber, which has more than 20 autuonomous vehicle partnerships ranging from Alphabet’s Waymo to Baidu, has become a dominant robotaxi force.

Rivian had first hinted at robotaxi plans at its Autonomy and AI Day in December.

Uber to invest up to $1.25 billion in EV maker Rivian in deal to launch 50,000 robotaxis

Uber to invest up to $1.25 billion in EV maker Rivian in deal to launch 50,000 robotaxis

The R2 is Rivian’s smaller, less expensive model and is set to roll out to buyers in the second quarter of this year.

Per a company filing on Thursday, Rivian “no longer expects to be adjusted EBITDA positive in 2027 due to an expected increase in R&D spend associated with the acceleration of its autonomy roadmap.”

Uber, which has more than 20 autuonomous vehicle partnerships ranging from Alphabet’s Waymo to Baidu, has become a dominant robotaxi force.

Rivian had first hinted at robotaxi plans at its Autonomy and AI Day in December.

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General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise

Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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