Lucid's "Extraordinary" Issues
Photo by CHUTTERSNAP / Unsplash

Lucid's "Extraordinary" Issues

And, Booking Holdings' drop.

Steven Lerner
Steven Lerner

Today is Thursday, August 4, 2022.

New to this newsletter? Sign up here.

Lucid's "Extraordinary" Issues

Shares of Lucid Group (Nasdaq: LCID) dropped 12.60% in after-hours trading on Wednesday after the electric vehicle manufacturer posted mixed financial earnings.

Financials: Lucid reported a loss of 33 cents per share, which was better than expected. But its revenue of $97.3 million was below estimates.

Production Problems: The company cut its 2022 production guidance in half, from a range of 12,000 to 14,000 vehicles down to the range of 6,000 to 7,000. Lucid attributed the problem to “extraordinary supply chain and logistics challenges.”

Final Thoughts: Lucid’s stock is down 49% in 2022. Reservations for new vehicles are up, signaling healthy demand.


Notable Earnings Today: Block (NYSE: SQ), Alibaba (NYSE: BABA), AMC Entertainment Holding (NYSE: AMC), Kellogg (NYSE: K), Crocs (Nasdaq: CROX), Warner Bros Discovery (Nasdaq: WBD), Datadog (Nasdaq: DDOG), FuboTV (NYSE: FUBO), ConocoPhillip (NYSE: COP), Paramount Global (Nasdaq: PARA), Twilio (NYSE: TWLO), Eli Lilly (NYSE: LLY), Carvana (NYSE: CVNA), Bausch + Lomb (NYSE: BLCO), Star Bulk Carriers (Nasdaq: SBLK), Cheniere Energy (NYSEAMERICAN: LNG), Southwestern Energy Company (NYSE: SWN), Penn National Gaming (Nasdaq: PENN), Cloudflare (NYSE: NET), Abiomed (Nasdaq: ABMD), Air Lease (NYSE: ALB), Air Products and Chemicals (NSYE: APD), Amgen (Nasdaq: AMGN), Applied Optoelectronics (Nasdaq: AAOI), Becton Dickinson (NYSE: BDX), Beyond Meat (Nasdaq: BYND), BioCryst Pharmaceuticals (Nasdaq: BCRX), Bio-Techne (Nasdaq: TECH), Cable One (NYSE: CABO), Chegg (NYSE: CHGG), Choice Hotels International (NYSE: CHH), Chuy's Holdings (Nasdaq: CHUY), Clean Energy Fuels (Nasdaq: CLNE), CubeSmart (NYSE: CUBE), Duke Energy (NYSE: DUK), Dynavax Technologies (Nasdaq: DVAX), Eagle Bulk Shipping (Nasdaq: EGLE), Expedia (Nasdaq: EXPE), Fidelity National Information Services (NYSE: FIS), Funko (Nasdaq: FNKO), GoPro (Nasdaq: GPRO), iHeartMedia (Nasdaq: IHRT), Intrepid Potash (NYSE: IPI), Ironwood Pharmaceuticals (Nasdaq: IRWD), ITT (NYSE: ITT), Kratos Defense and Security Solutions (Nasdaq: KTOS), El Pollo Loco Holdings (Nasdaq: LOCO), Lyft (Nasdaq: LYFT), Live Nation Entertainment (NYSE: LYV), Nikola (Nasdaq: NKLA), NU Skin Enterprises (NYSE: NUS), Papa John's International (Nasdaq: PZZA), Paylocity Holding (Nasdaq: PCTY), Parker-Hannifin (NYSE: PH), Physicians Realty Trust (NYSE: DOC), Public Storage (NYSE: PSA), SeaWorld Entertainment (NYSE: SEAS), Shake Shack (SHAK), Skyworks Solutions (Nasdaq: SWKS), TripAdvisor (Nasdaq: TRIP), Universal Display (Nasdaq: OLED), Vulcan Materials (NYSE: VMC), Wayfair (NYSE: W), WW International (Nasdaq: WW), XPO Logistics (NYSE: XPO), Yelp (NYSE: YELP), Yeti Holdings (NYSE: YETI), Zoetis (NYSE: ZTS).

Notable IPOs Today: Mobiv Acquisition Corp (Nasdaq: MOBVU).

Notable Equity Crowdfunding Campaigns Ending Today: OptioLend (StartEngine).

Notable Economic Events Today: Jobless Claims (8:30 a.m. ET), Trade Balance (8:30 a.m. ET).

Booking Holdings Faces Foreign Currency Headwinds

Lounge chairs on the beach at the W Hotel luxury resort in the Maldives during sunset.
Photo by Upgraded Points / Unsplash

Shares of Booking Holdings (Nasdaq: BKNG) dropped 3.13% in after-hours trading on Wednesday after the travel tech company posted mixed financial earnings.

Financials: Booking Holdings reported earnings per share of $19.08, which was better than expected. But its revenue of $4.3 billion was below estimates.

Final Thoughts: Gross bookings grew 38%, but it would have been 48% if not for foreign currency headwinds.

Walmart to Lay Off Hundreds

Shares of Walmart (NYSE: WMT) ticked down 0.38% in after-hours trading on Wednesday after a report from The Wall Street Journal said the retail giant will cut hundreds of corporate roles.

Final Thoughts: The report came out a week after the company lowered its profit outlook.

Not Much Here: US Senate Bill Will Give CFTC Crypto Market Oversight – but Doesn't Say How Much (CoinDesk)

Burning the Midnight Crude Oil: Oil falls to nearly 6-month lows after surprise U.S. crude, gasoline build (Reuters)

Big Impact: Ongoing solana attack targets thousands of crypto wallets, costing users more than $5 million so far (CNBC)

Oops: Equifax issued wrong credit scores for millions of consumers (CNN)

Not Clean: Clorox 4Q Sales Flat as Impact of Inflation Continues (MarketWatch)

Thank you for reading!

Forward to a friend and tell them to sign up here.

Be social: Like our Facebook page and follow us on Twitter.

Want more investing tips? Listen to the podcast.

Questions or comments? Hit reply to reach out.