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Uber Evolving Into 'Everything App' With Expanding Margins, Tigress Says
Wire

Uber Evolving Into 'Everything App' With Expanding Margins, Tigress Says

Uber Technologies (UBER) is evolving into a "diversified everything app" from predominantly a ride-hailing service, with growing margins, Tigress Financial Partners said Friday.The company has expanded its network of ride-hailing and delivery services, ventured into "platform adjacencies" that offer high margins, and pursued capital-light partnerships with autonomous and electric vehicle manufacturers, Tigress Director of Research Ivan Feinseth said in a note to clients.The brokerage noted Uber's partnerships and collaborations with major players such as Nvidia (NVDA), Alphabet's (GOOG, GOOGL) Waymo, Mobileye Global (MBLY), Rivian Automotive, (RIVN), Lucid Group (LCID) and Expedia Group (EXPE)."Uber is turning its scaled mobility and delivery networks, high-margin platform adjacencies, combined with its capital-light, (artificial intelligence-driven) AV/EV and travel partnerships, into a diversified everything app with expanding margins and long-term compounding potential," Feinseth said.Last month, Uber issued a bookings growth outlook that surpassed Wall Street's estimates, while its first-quarter profit grew year over year."Uber's pivot from subsidized growth to disciplined, self-funded expansion has driven (earnings before interest, taxes, depreciation, amortization, and restructuring) and free cash flow growth ahead of revenue, inflecting (return on capital) from negative levels in 2021 to meaningfully above its cost of capital, and positioning it for compound economic profit through continued reinvestment, share repurchases, and selective (mergers and acquisitions)," Feinseth said Friday.Tigress raised its price target on the Uber stock to $115 from $110 while reiterating its buy rating."We believe further upside in the shares exists, and our 12-month target price of $115 represents a potential return of close to 65% from current levels," Feinseth wrote.The company's shares were down 2% in Friday afternoon trade. So far this year, the stock has lost nearly 17% in value.Price: $68.15, Change: $-1.40, Percent Change: -2.01%

$EXPE$GOOG$GOOGL$LCID$MBLY$NVDA$RIVN$UBER
Wire

Market Chatter: Lucid Senior Executive Emad Dlala Leaves Firm

Lucid Group's (LCID) Emad Dlala, senior vice president of engineering and digital, has left the company, TechCrunch reported Wednesday.Dlala's exit is the first major executive departure since the company appointed Silvio Napoli as its chief executive officer in April, according to the report.Lucid did not immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $4.84, Change: $-0.32, Percent Change: -6.12%

$LCID
Research

Research Alert: CFRA Maintains Hold Opinion On Lucid Group Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our 12-month target to $6 from $10. Following a weaker-than-expected Q1 earnings release, we are maintaining a Hold opinion on LCID shares. We revise our adjusted EPS estimates to -$12.00 from -$12.70 for '26 and to -$11.10 from -$11.45 for '27. LCID posted Q1 adjusted EPS of -$2.82 vs. -$2.04, well short of the -$2.30 consensus. Revenue rose 20% to $282.5M ($76.0M below consensus) in Q1, led by higher prices, as total vehicle sales fell 1% to 3,093 units. In the release, LCID did not provide any update regarding prior 2026 vehicle production guidance of 25K-27K units (an implied increase over the 17,840 units produced in 2025). In our view, LCID's accelerating cash burn and rising inventories suggest ongoing risks. The company's ability to achieve sustainable growth while managing its substantial cash requirements remains the critical challenge as it seeks to establish a viable position in the competitive luxury EV market; however, a $1.5B capital raise last month helps extend its liquidity runway.

$LCID
Wire

Lucid Shares to Remain Under Pressure Until New CEO Reviews Outlook, Morgan Stanley Says

Lucid (LCID) shares are expected to remain under pressure until incoming Chief Executive Officer Silvio Napoli has had time to evaluate the business and its outlook, Morgan Stanley said in a note Wednesday.The company suspended its delivery and capex guidance for the year after a "challenging" Q1, with management reporting $781 million adjusted earnings before interest, taxes, depreciation and amortization loss, according to the note.Morgan Stanley said it expects the losses to remain elevated until the planned 2027 launch of a midsize vehicle. To fund its losses, Lucid has announced a total of $1.05 billion capital raise from Saudi Arabia's Public Investment Fund, Uber (UBER), and a registered public offering, among others, the investment firm said.Morgan Stanley lowered its 2026 EBITDA estimate by 15%, reflecting lower gross margins given recent underperformance as well as higher operating expenses on account of recent workforce reduction charges. The firm also said it continues to expect 26,000 deliveries versus consensus of 25,000 for the year.Morgan Stanley cut its price target on the stock to $5 from $10, while maintaining its underweight rating.Price: $5.90, Change: $-0.35, Percent Change: -5.65%

$LCID$UBER
Research

Research Alert: Lcid: Q1 Earnings Well Short Of Consensus; Cash Burn Accelerates

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Lucid Group (LCID) posted Q1 adjusted EPS of -$2.82 vs. -$2.04, well short of the -$2.30 consensus. Revenue rose 20% to $282.5M ($76.0M below consensus) in Q1, driven by higher prices, as total vehicle sales fell 1% to 3,093 units. Moreover, LCID's production/sales gap widened significantly, as the company produced 5,500 vehicles during the quarter. LCID's quarter-end cash and equivalents of $700M was down from $998M three months earlier, though total liquidity of approximately $3.2B provides near-term financial flexibility ($4.7B pro-forma for an April capital raise). In the release, LCID did not provide any update regarding prior 2026 vehicle production guidance of 25K-27K units, implying an increase over the 17,840 units produced in 2025. In our view, LCID's actual sales are of greater importance, given apparent demand-related issues. LCID shares are currently trading 2% lower after-hours. This was an ugly release with few positives, aside from the April capital raise which extends its liquidity runway.

$LCID
Wire

Hertz Global Shares Rise After Oro Mobility, Uber Technologies Sign Two Fleet Maintenance Partnerships

Hertz Global (HTZ) shares were up 11% in Thursday trading after its affiliated operating company Oro Mobility and Uber Technologies (UBER) said they have signed two fleet partnerships related to operational and maintenance services across autonomous and driver-led operations.Financial details related to the collaboration were not disclosed.Under one of the partnerships, Oro Mobility will provide day-to-day vehicle asset management, including charging, maintenance, repairs, cleaning, and depot staffing for Uber's autonomous robotaxi program of Lucid (LCID) vehicles, the companies said.Oro Mobility will also offer strategic fleet services on the Uber platform, using vehicles operated by Oro-employed drivers, the companies said.Additionally, Oro is now active on the Uber platform in Los Angeles and San Francisco, with Northern New Jersey expected to launch this spring, according to the companies.Price: $6.25, Change: $+0.65, Percent Change: +11.61%

$HTZ$LCID$UBER
US Markets

Stocks Mostly Up Pre-Bell as Israel, Lebanon Agree to Extend Ceasefire

The benchmark US stock measures were mostly pointing higher before the open Friday as President Donald Trump announced an extension of the ceasefire between Israel and Lebanon.The S&P 500 edged up 0.1% and the Nasdaq increased 0.9%, while the Dow Jones Industrial Average declined 0.3%. The indexes finished the previous trading session lower.In a social media post on Thursday, Trump said the ceasefire between Israel and Lebanon will be extended by three weeks after representatives from the two countries met at the White House. Trump announced a 10-day ceasefire between Israel and Lebanon last week."The meeting went very well!" Trump wrote. "The United States is going to work with Lebanon in order to help it protect itself from Hezbollah."The conflict between Israel and Hezbollah in Lebanon has been a key sticking point in US-Iran peace efforts, which are showing no apparent signs of progress."Hopes for a resolution between the US and Iran are fading as peace talks stall," ING Bank said in a Thursday report. "If no progress is made, the market will become increasingly numb to the noise and headlines that have dictated price action recently."Trump on Thursday ordered the US navy to "shoot and kill any boat" placing mines in the Strait of Hormuz. Separately, the US leader claimed that the US has "total control" over the key oil supply chokepoint.Trump extended a ceasefire with Iran earlier in the week, though he said the naval blockade of Iranian ports would continue. Iran's Islamic Revolutionary Guard Corps on Wednesday reportedly seized two tankers attempting to cross the Strait of Hormuz.West Texas Intermediate crude oil rose 1.3% to $97.08 a barrel before the opening bell, while Brent gained 1.6% to $106.76.Treasury yields were trending upwards in premarket action, with the two-year rate increasing 1.5 basis points to 3.84% and the 10-year rate adding 0.8 basis points to 4.33%.Shares of Intel (INTC) jumped 27% pre-bell after the chipmaker reported first-quarter results above Wall Street's estimates. Advanced Micro Devices (AMD) climbed 11% while Lucid (LCID) rebounded 0.4% following a 9.3% drop at the close of Thursday.Procter & Gamble (PG), HCA Healthcare (HCA), SLB (SLB) and Charter Communications (CHTR) report their latest financial results before the bell, among others.Friday's economic calendar has the final University of Michigan consumer sentiment report for April at 10 am ET, followed by the weekly Baker Hughes oil-and-gas rig count at 1 pm.Gold declined 0.6% to $4,695 per troy ounce, while bitcoin was slightly up at $77,789.

Dow JonesNasdaq CompositeS&P 500$AMD$CHTR$HCA$INTC$LCID$PG$SLB
Sectors

Sector Update: Consumer Stocks Mixed in Afternoon Trading

Consumer stocks were mixed Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 2.5%.In sector news, Redbook US same-store sales rose by 7% from a year earlier in the week ended April 11 after a 7.6% year-over-year increase in the previous week. "Many stores closed on Easter Sunday so that employees could spend time with their families, which meant Easter week sales were based on six days instead of seven compared to last year," Redbook said, adding that sales during the week were driven by seasonal items.In corporate news, FedEx (FDX) said its finance chief will step down in early June as the parcel delivery giant completes the spinoff of its freight business into a new publicly listed company. FedEx shares were down 0.4%.United Airlines (UAL) Chief Executive Scott Kirby proposed a potential combination with American Airlines (AAL) during a late February meeting with President Donald Trump, Reuters reported Monday, citing two unnamed sources familiar with the matter. A consolidated carrier would be more competitive globally, aligning with the administration's focus on international trade deficits, the news outlet quoted Kirby as saying. United shares rose 2.4%, and American jumped 8%.Lucid (LCID) said Tuesday that it has priced an underwritten public stock offering to generate $300 million in gross proceeds. Uber (UBER) has expanded a previous purchasing agreement to buy at least 35,000 vehicles for a future autonomous taxi network, while contributing an additional $200 million to reach a $500 million total investments in the company, Lucid said. Public Investment Fund affiliate Ayar Third Investment has also committed $550 million to buy convertible preferred stock. Lucid shares were down 4.3%, and Uber rose 1.2%.

$AAL$FDX$LCID$UAL$UBER
Sectors

Sector Update: Consumer

Consumer stocks were mixed Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 2.3%.In corporate news, Lucid (LCID) said Tuesday that it has priced an underwritten public stock offering to generate $300 million in gross proceeds. Uber (UBER) has expanded a previous purchasing agreement to buy at least 35,000 vehicles for a future autonomous taxi network, while contributing an additional $200 million to reach a $500 million total investments in the company, Lucid said. Public Investment Fund affiliate Ayar Third Investment has also committed $550 million to buy convertible preferred stock. Lucid shares were down 4.7%, and Uber rose 1%.

$LCID$UBER
Wire

Top Midday Stories: Wells Fargo Shares Fall After Q1 Revenue Miss; Amazon to Acquire Globalstar for $90 a Share

All three major US stock indexes were up in late-morning trading Tuesday, as many of the big banks revealed their earnings results.In company news, Wells Fargo (WFC) reported Q1 earnings Tuesday of $1.60 per diluted share, up from $1.39 a year earlier and above the FactSet consensus of $1.58. First-quarter revenue was $21.45 billion, up from $20.15 billion a year ago but below the FactSet consensus of $21.79 billion. Wells Fargo shares were down 5.2% around midday.Amazon (AMZN) said Tuesday it has agreed to acquire Globalstar (GSAT) in a deal valuing the company at $90 per share. The acquisition, which is expected to close in 2027, will strengthen Amazon's low-Earth orbit network, Amazon Leo, enabling direct-to-device services that will expand cellular coverage, the company said. Amazon shares were up 3.3%, while Globalstar shares were up 10.5%.JPMorgan Chase (JPM) reported Q1 earnings Tuesday of $5.94 per diluted share, up from $5.07 a year earlier and above the FactSet consensus analyst estimate of $5.45. First-quarter net revenue was $49.84 billion, up from $45.31 billion a year ago and above the FactSet consensus of $49.13 billion. JPMorgan shares were down 0.5%.Citigroup (C) reported Q1 net income Tuesday of $3.06 per diluted share, up from $1.96 a year earlier and above the FactSet consensus of $2.63. First-quarter revenue was $24.63 billion, up from $21.60 billion a year ago and above the FactSet consensus of $23.53 billion. Citigroup shares were up 2.5%.Lucid (LCID) said Tuesday it will receive new investments from an affiliate of Saudi Arabia's Public Investment Fund and Uber Technologies (UBER). Shares of Lucid were down 4.4%, while Uber shares were up 0.3%.Price: $312.52, Change: $-1.16, Percent Change: -0.37%

$AMZN$C$GSAT$JPM$LCID$UBER$WFC
US Markets

Prolonged Iran War Could Drive Outlook Cuts at US Auto Companies in 2026 Second Half, RBC Says

US automotive companies could lower outlooks in the second half of this year in case of a prolonged Middle East conflict or if the latest oil price shock "adversely" affects consumer confidence, RBC Capital Markets said in a note e-mailed Monday.The US-Israel war with Iran that started at the end of February has sent energy prices surging amid the closure of the Strait of Hormuz, the world's most important chokepoint for crude flows. Oil prices hovered around $100 a barrel intraday Monday as the start of a US blockade of maritime traffic around Iran's ports reportedly became effective.As most auto suppliers typically maintain one to two quarters of inventory, they are likely to be shielded from increasing raw materials costs in the near term, RBC analyst Tom Narayan said in a note to clients, adding that potential cost hikes in the future can be passed along to original equipment manufacturers. Overall, US suppliers have "negligible exposure" to the Middle East, according to the note."Importantly, we think neither OEMs nor suppliers (will) cut guidance in (the first quarter)," Narayan wrote. "That said, if the Iran conflict is prolonged or if higher oil prices adversely impact consumer confidence, we could see guidance cuts in (the second half of 2026)."Last week, a survey by the University of Michigan showed that US consumer sentiment hit the lowest on record this month, reflecting heightened worries about higher prices and the overall economic fallout from the Middle East conflict.Compared with suppliers, US OEMs could face "greater macro sensitivity," considering higher difficulty in passing along commodity inflation costs and a potential delay in the resolution to the US-Mexico-Canada trade pact due to the Iran war, RBC said."In China, the revised subsidy framework and reduction of the EV purchase tax credit could adversely impact mass-market players, where western suppliers remain structurally under-indexed," Narayan said.In the long term, RBC projects Brent crude prices to be around $80 per barrel, with West Texas Intermediate oil seen at $75 a barrel, according to the note."While elevated fuel prices may support (electric vehicle) adoption in Europe, we expect limited mix shift in the US, where government incentives have been the primary demand driver for EV sales," Narayan said.RBC said it likes Autoliv (ALV), Dauch (DCH) and Aptiv (APTV) on a risk/reward basis. The brokerage reduced its price targets on the shares of several companies, including Ford Motor (F), General Motors (GM), Tesla (TSLA), Mobileye Global (MBLY), and Lucid Group (LCID).Earlier this month, Tesla's first-quarter deliveries missed Wall Street's estimates, with Wedbush Securities flagging a challenging demand environment for the EV maker.Price: $12.11, Change: $-0.02, Percent Change: -0.16%

$ALV$APTV$DCH$F$GM$LCID$MBLY$TSLA